Best Forex Broker Australia 2017 Comparison

In January 2017 a comparison was made to find the best forex broker Australia option for high leverage forex trading.

Leverage is a must when currency trading to amplifying relatively small currency movement.
This leads to greater profits or losses when Australian forex trading making understand the risks involved with forex trading critical.

Compare the best forex brokers in Australia below!


  • Leverage
  • Guaranteed Stops?
  • Cuts Out a Dealing Desk?
  • Speed of Execution?
  • MetaTrader Supported?
  • Avoids Charging Withdrawal Fee?
  • Spread Fee – AUD/USD
  • Minimum Deposit?
  • Regulated In
  • Headquarters In Australia?
  • Promotional Bonus?
  • Payment Methods
  • Reviews


IC Markets Is The Best Forex Broker For High Leverage Traders

On January 3rd 2017 our forex broker comparison found IC Markets to be the best forex broker in Australia for traders looking for high leverage as they offer:

  1. The highest leverage of mainstream Australian fx brokers at 500:1
  2. The lowest spreads/fees of any Australian fx broker
  3. Fast execution speeds through international servers
  4. The two most popular forex platforms including MetaTrader 4
  5. A strong customer service offering

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IC Market Leverage Is 500:1

With a maximum leverage level of 500:1, IC Markets offers the equal highest leverage to other top forex brokers such as Pepperstone and CMC Markets.

An example of what 500:1 means is that for every dollar that you trade you can trade an equivalent of $500. This means that for a $100 trade you could trade $50,000 worth of currency so a currency movement of 0.1% would lead to a $50 profit (which in this case would be a 50% profit). Leverage magnifies gains but also the risk profile of trading so it’s best to request the right level for you.

It should be noted that 500:1 is considered globally very high. This is why OANDA only offers 50:1 and IG offers a maximum level of 200:1. The big issue though is when trading with IC Markets or Pepperstone which offer 500:1, an Australian forex trader can request lower levels and change this over time.

IC Markets Offers Some Low ECN Forex Broker Spreads

There are three accounts offered by IC Markets. The standard account for more beginner/intermediate brokers has no commission on traders and spreads starting from 1.0 pips.

Forex Broker Best IC Market Accounts

ECN Forex Broker Liquidity PoolsThe other two options are ECN forex trading accounts. These are the most popular with advanced traders as they offer some of the lowest pips in Australia with an associated low commission rate.

IC Markets allows forex trading directly with liquidity pools such helping achieve ECN pricing. This means that inter-bank prices are fed from 50+ banks and dark liquidity pools to get Australian traders the best price.

The below table highlights the average and minimum spreads of the true ECN account taken from the IC Markets website on the 03/01/2017.
IC Markets 2017 Forex Trading Australia Spreads

The low spreads and commissions offered by IC Markets make it one of the leaders when it comes to price in the sector.

IC Markets Offers The Two Most Popular Forex Platforms

MetaTrader FX Broker Australia Platform

Two platforms are offered for Australian forex traders:

1) MetaTrader 4

The most popular platform worldwide due to a user friendly interface, advanced graphing tools and the ability to execute advanced trading strategies.

2) cTradercTrader FX Broker Australia Platform

The preferred platform by some experience Australian forex traders, not only does IC Markets at times offer ‘inverse spreads’ it allows for forex robots.

IC Markets allows Australian forex traders to get the most from these forex platforms due to the best hardware and infrastructure setup which is ‘first in its class’. This includes having servers setup near wall street (NY4) for MetaTrader users and in London (LD5) for cTrader users. Having infrastructure so close to the main trading hubs combined financial institution partnerships ensures fast trading with deep liquidity tools.

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Additionally, fibre optic connections exist between Australia and these overseas locations to minimise the time to process claims despite the high distance information needs to travel.

Customer Service

IC Markets offers outstanding customer service for Australian forex traders. The team who provide support have strong currency trading experience and are involve in forex trading themselves (something quite unique within the currency trading industry). Support is 24 hours during weekdays when currency markets are open.

There is also an excellent education section for those new to currency trading to those looking for more advanced strategies or the latest currency market news. Another feature is a set of video tutorials that are useful when getting used to a new platform.

Overall Outtakes

IC Markets is an ECN trader with no trading desk. This essentially means that you deal directly with the currency markets offering lower spreads (Forex rates) and faster execution speeds with the most popular platforms.

IC Markets best forex broker review scorePepperstone has a similar offering but IC Markets has the highest leverage which is why it was the recommended broker. For those who are new to currency trading a broker who offers the highest level of support and education may be a better option such as easy forex. For all other Australian forex traders IC Markets is an excellent broker to meet their needs and trading strategies. View some of our other forex broker reviews here.

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How We Compiled The Best Forex Broker Australia List

The best Australian forex broker comparison table was created on the 03/01/2017 by a panel of individuals who have worked with forex providers for the past four years. A list of suitable criteria was created for customers who are looking for the best high leverage Forex account and the research began to see which brokers conformed to our key best fx broker principles. A key credential for all the best Forex brokers Australia was that they must be certified in Australia due to the important safeguards Australian law provides Aussie traders. Thankfully IC Markets are fully regulated in Australia and have been since 2007 under Australian company number 123289109.

IC Markets' ACN On Aubiz.net

 

The team completed this Australian forex brokers comparison with the goal of providing forex traders with the best broker based on value and service. Both the final table and this best Australian forex broker recommendation were made based on the data obtained on the Australia trader’s website (which in some cases were validated by the providers). We focused on the biggest fx brokers with local, Australian certifications to avoid issues that some smaller, lesser known brokers have had historically.

Data Integrity And Feedback

As the above best forex broker Australia comparison table is compiled manually by our team and with no automation, the data may have some inaccuracies due to either the misinterpretation of data or due to Forex websites having updated their company details since (e.g. fees). As this is the case, the trading forex information provided on this forex broker comparison page and on this website should be used for indicative purposes only. Once website users click across from this website to some of the FX Australia brokers listed above they should closely review the information provided on their website including any product disclosure statements. This is to validate any information provided on this website and to ensure this product is suitable for them.

The Best Forex Broker Australia Firms

View the best fx brokers in Australia based on their leverage and other factors.

Rating: 4.7
Reviewed by Justin Grossbard

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