The Best Forex Broker in Australia must maintain a low-cost trading environment. For example, the minimum spread on a commission-free account should be less than one pip. For a commission-based account, the spread should be between 0.1 pp and must not cost more than $7 per round lot. VantageFX meets these requirements, as does FXTM. Pepperstone also offers an ECN account, which offers lightning-fast execution and lower spreads. The fees charged by each brokerage vary, but these brokers all meet the Australian regulatory requirements.
ASIC’s website contains all the essential information about regulated brokers. If you are unsure whether your broker is regulated, check its official site for information. ASIC lists scams and financial irregularities, so it’s always important to ensure the safety of your funds. In addition to checking the website of the broker, you can also contact ASIC to learn about the reputation of its competitors. ASIC’s regulatory information is helpful when deciding which forex broker to work with.
ASIC-regulated and licensed trading platform FXTM is one of the best Forex Australia brokers. Although it lacks the advanced trading capabilities of MetaTrader, it has a high trust rating and low risk. The platform also comes with powerful charting features, including more than 100 technical indicators and 21 drawing tools, which are invaluable when conducting technical analysis. eToro is another popular online broker in Australia. The company is regulated by the ASIC and the UK Financial Conduct Authority.