Best Forex Rates Comparison January 2018

In January 2018 we completed our research into Australia’s best forex broker.
Some of the factors we looked at included leverage, fees and forex rates.

View our findings in the table below:

Curency Movements Image
  • Leverage
  • Guaranteed Stops?
  • No Dealing Desk?
  • Execution Speed
  • Offers MetaTrader Platform
  • No Withdrawal Fee
  • Spread Fee – USD/AUD
  • Minimum Deposit?
  • Regulated In
  • Australia Head Office?
  • Promotional Bonus?
  • Payment Methods
  • Reviews

Best FX Value Broker

IC Markets Boasts Some of the Best Forex Rates in Australian in 2018

On the 07/01/2018 we finalised our research into Australia’s best forex broker based on factors such as Forex rates or spreads, leverage and trading platforms. What we found was that IC Markets led competitors in most areas which led to our Compare Forex Brokers team ranking them first based on the following important factors:

1) The Best Leverage Ratios Available To Australians

Forex trading requires large levels of leverage to magnify the gains made from very small movements in foreign currency prices. While risky, large levels of leverage are often required for certain Forex strategies. However, for those well versed in the art of Forex trading, IC Markets is a perfect choice as they boast leverage ratios of 500:1 which is the best currently on offer in Australia. IC Markets are a great choice for traders of all expertise and background. Where expert traders may opt for leverage of 500:1, beginners can lower their risk exposure with IC Markets by selecting a lower leverage ratio which not all brokers offer.

To give some insight into what exactly leverage means, let’s use the following example. A 500:1 ratio effectively means that a Forex trader can trade with a dollar amount that is 500 times their initial deposit. So if a trader deposits $1000 in their account they can play with $500,000 on the currency market. If market prices move by 0.01% a profit or loss of 80% or $5000 is sustained. As leverage effectively enhances profits or losses earned from currency trading, it is imperative to understand the ins and out beforehand. Currency prices usually fluctuate less than 1% a day making high leverage levels sustainable. However, if you are not a confident Forex trader, taking on too much leverage is not advised.

2) The Best Forex Rates Available In Australia

In our Forex comparison only two Australian brokers could boast incredibly competitive forex rates (spreads) and they were IC Markets and Pepperstone. IC Markets offers its traders Forex rates starting from just 0.0 pips for the AUD/USD currency pair with Pepperstone offering the next best forex rate of 0.1.

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How do IC Markets & Pepperstone Offer Such Competitive Forex Rates?

Companies such as IC Markets and Pepperstone use what is called an ECN or Electronic Communications Network which enables them to keep forex rates or spreads at exceptionally low prices. How is this possible you ask? An ECN allows currency traders the ability to trade directly with institutional traders such as hedge funds and interbank markets. Direct access to this liquidity pool means no middle men or dealing desks keeping forex rates to an absolute minimum.

The Executable Streaming Prices (ESP) feature IC Markets boasts ensures there is no delay, latency or price manipulation as a result of slippage. This is perhaps one of IC Markets best features as retail traders are afforded the same deep liquidity and volume ordinarily only seen by large institutional traders. It also helps to keep Forex rates down too.

IC Markets Best Forex Rates By Account

IC Markets offers three different accounts with varying pricing models. The standard account has higher forex rates but no trading commissions are charged. IC Markets’ flagship True ECN package offers forex rates with a 0.0 starting spread. Note a $3.50 per lot commission is charged here. The 3rd account offered by the company is the cTrader platform which also boasts no dealing desk and incredibly low spreads; a commission is charged here too.

3) IC Markets Offers the Best Trading Platforms

If you had to ask Forex traders what their platform of choice was they would unanimously chant “MetaTrader!” with cTrader a close runner up. With these two platforms being so popular, its comfortable knowing that IC Markets give traders the choice of both!

MetaTrader Boasts The Best Forex Rates
MetaTrader Overview
Without doubt MetaTrader is the world’s most popular trading platform thanks to its easy to use interface and plethora of features such as interactive graphs and charts. It also allows traders to develop trading robots called Expert Advisors. MetaTrader’s real benefit is its ‘one click’ trade feature which allows the purchase or disposal of a currency pair at the touch of a button. Even the more complicated orders can be settled in a maximum of two clicks. This software speed allows traders to lock in the best forex rates.

cTrader The Best Forex Broker Account in UK

cTrader Overview
cTrader is not as popular as MetaTrader. However, more and more experienced Forex traders are starting to choose cTrader for its superior automatic, algorithmic trading environment. With the cTrader platform at IC Markets, clients can also take advantage of inverse spreads (a commission is charged of course). However, this is only when market conditions allow for it.

4) The Fastest Execution Speeds

Thanks to IC Markets’ servers being located in the middle of popular data centres such as the NY4 near Wall Street in New York and in London too, pricing accuracy and speed is lightning fast.

Best Forex Trading Execution

Add to this a fibre optic connection, its no wonder IC Market can guarantee minimal latency and one of the most competitive trading environments in Australia.

No guarantee can be provided based on eradicating slippage altogether. However, in our tests, the prices we requested were satisfied with minimal fuss.

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About Our Comparison Tables

We updated our research into some of the world’s best Forex brokers on the 7th of January 2018. When formalising our tables we had no affiliate relationship in place in order to maximise objectivity and to preserve the integrity of the information available on our website. Before choosing a broker, please validate all information found here on the respective Forex broker’s website.