Best Forex Brokers in Australia (2026)

The best forex brokers in Australia, ranked

1. Pepperstone: the best forex broker in Australia.
2. OANDA: best forex broker for beginners.
3. Fusion Markets: lowest commission forex broker in our top ten.
4. IC Markets: lowest spread raw account.
5. Interactive Brokers: best multi-market broker for investors.
6. FP Markets: best ASX share access via IRESS.
7. Capital.com: best broker for CFD trading.
8. MultiBank Group: broadest multi-jurisdiction regulation.
9. ThinkMarkets: deep product range on ThinkTrader.
10. Trade Nation: best fixed-spread pricing.

The list runs strictly by Overall 2026 Score; the label beside each broker is where it fits best.

Every ranked broker holds an AFSL, belongs to AFCA and operates under ASIC’s Product Intervention Order. CFDs are high-risk: ASIC’s REP 828 found 68% of retail CFD investors lost money in the 2024 financial year. For the safety angle, see the safest forex brokers, negative balance protection and high-leverage brokers guides.

What are the 10 best Australian forex brokers?

Other brokers we tested

Every remaining broker from our 29-broker 2026 test panel is listed below with its score, so the ranked list above can be checked against the full field. The ranked list above is the top 10 by Overall 2026 Score, with the cut falling at 79. The nineteen brokers below all scored under that line, so none carries a best label its score does not support.

All 29 tested brokers with full scores are listed on the forex broker reviews hub.

What trading costs per month

Five cheapest of the 29 ASIC-regulated brokers we measure

Lots / month

−+

Account style

RawStandard

Rates 21:52 AEST Measured May to June 2026

#	Broker	Total / month
1	ACY SecuritiesCheapest	A$88.60
2	Eightcap	A$91.44
3	Axi	A$92.87
4	GO Markets	A$94.31
5	Fusion Markets	A$96.46

Compare all 29 brokers in the full cost calculator →

How to choose an Australian forex broker

1. Check the broker is ASIC regulated

Choosing one of the best ASIC-regulated brokers is the most important step for an Australian trader. ASIC regulation reduces the risk of scams. Brokers under AFSL conditions are heavily scrutinised and must follow strict client-money, capital-adequacy and disclosure rules to keep your funds safe.

ASIC caps retail leverage on major forex pairs; see our ASIC forex regulation guide for the full tier list and what each protection does. Always check the AFSL on ASIC Connect before depositing. Check that the broker is also a member of AFCA, the free dispute resolution scheme. ASIC does not insure deposits the way some overseas regulators do, so the regulator’s protections sit upstream of your money rather than around it. Segregated client funds, mandatory negative balance protection, and the AFCA scheme are the three protections that matter most.

2. Make sure the broker matches your type of trading

What type of trader you are is best answered by understanding different trading styles. There are four main styles to consider:

• Day trading. Open and close positions within the same day. Needs fast execution and tight spreads.
• Scalping. High volume, very short holds (seconds to a few minutes). Needs Raw or ECN-style pricing and stable order routing.
• Swing trading. Holds positions for days to weeks. Less sensitive to spread, more sensitive to overnight financing rates.
• Position trading. Long-term, fundamentals-driven. Spreads matter least, swap rates and platform reliability matter most.

A broker that suits a scalper (Pepperstone Razor, IC Markets Raw) may not be the best for a position trader (CMC Standard, IG Standard). Match the broker to your style.

3. Check the trading platforms offered

The features you need from a trading platform are personal, but key factors include ease of use, order execution quality, risk-management tools, advanced charting, automation support, available leverage, and overall versatility.

The four platforms used by most ASIC-regulated brokers are MetaTrader 4, MetaTrader 5 (compared head-to-head here), cTrader and TradingView. Several brokers (CMC, IG, Plus500, eToro) run their own proprietary platforms in addition to or instead of MetaTrader. See our trading platforms guide for a full breakdown.

4. Ensure the trading costs are low

Trading fees are one of the leading factors impacting your profit and loss. Compare spreads from different forex brokers using a like-for-like measure. In our experience, Raw accounts on ECN brokers are generally cheaper than the Standard no-commission accounts once you add the spread and commission together. The exception is low-volume traders who hold positions for days at a time, where the convenience of a single all-in spread on a Standard account can outweigh the small saving on Raw. The broker cost calculator adds spread and commission into one all-in figure per standard lot so the comparison stays like-for-like.

Other costs to check are overnight financing (swap rates), inactivity fees, currency conversion fees if your account base is not the same as the asset’s quote currency, and deposit/withdrawal charges. See our lowest spreads and lowest commissions guides for live comparisons. To size a trade before you open one, our trading calculators work out margin, pip value and position size for any pair.

5. Make sure customer service meets your needs

We always test customer service. It adds value when you get stuck mid-trade or have time-sensitive questions. Slow or poorly informed support can cost you on an open position.

Things to check before depositing:

• Hours of phone and live chat support (24/5 versus 24/7)
• Languages supported
• Quality of in-platform help and self-service knowledge base
• Speed and quality of response in our test (we open a real chat with a generic question and time the reply)

Pepperstone, IC Markets, IG and Plus500 all run 24/5 chat with strong response times. eToro, CMC and OANDA close support over the weekend. If you trade weekend crypto markets and want live human support, factor that in.

Compare brokers by the factor that decides it

Each shortlist below re-ranks the market for one decision factor, tested the same way as this page.

Who is the largest forex broker in Australia?

IG Markets is the largest forex broker in Australia by website traffic, with an estimated 176,000 monthly Australian visits (Ahrefs, July 2026). By brand-search volume, CMC Markets leads with around 49,500 monthly Google searches for the broker name.

By client tenure, IG Markets and CMC Markets are the long-standing market leaders, both operating in Australia for more than 20 years. Pepperstone, founded in Melbourne in 2010, has grown to challenge both on global trading volumes.

Which Australian broker has the lowest spreads?

IC Markets and Eightcap tied for the tightest measured spreads in our May to June 2026 testing, both averaging 0.15 pips across eight major pairs on their raw accounts. The table shows the five tightest measured averages with each broker’s round-turn commission. The full 17-broker table and our capture method are in the lowest spreads guide.

Our own IceFX SpreadMonitor captures: rolling 24-hour windows, May to June 2026, London VPS.

What is the best forex trading platform in Australia?

Pepperstone is the best forex trading platform pick in Australia for 2026. It is the only top-three broker running all four mainstream platforms, MT4, MT5, cTrader and TradingView, and it recorded the fastest execution in our live testing. If you already know which software you want, the table below names our tested broker pick for each platform.

For a deeper breakdown of each platform’s features, use the platform shortlists in the comparison router in the how-to-choose section above.

Which broker is best for high-leverage trading?

No ASIC-regulated broker exceeds the Product Intervention Order caps, so 30:1 on major forex pairs is the ceiling on this page. Higher leverage requires wholesale client classification, which surrenders retail protections and demands A$2.5 million in net assets or A$250,000 gross income. See our guide to wholesale classification. For the full breakdown of the cap, the wholesale route and the offshore risk, see our high-leverage forex brokers guide.

How we tested and scored the 29 brokers

Our team tested 600+ data points that matter for Australian forex traders, and Pepperstone, with a score of 98/100, was the clear winner. Each broker was scored across regulation, spreads, commission, execution speed, platform availability, instrument range, mobile app quality, customer service and account opening experience.

Live AUD accounts were opened with each broker. Spreads were captured during Sydney and London sessions. Execution speeds were measured on EUR/USD market orders. Customer service was tested by lodging a generic question via live chat and timing the response.

See our full methodology for the scoring rubric.

Compare brokers by trader type

These are the core trader-type guides; each gets its own write-up below. Platform-, strategy- and asset-specific broker shortlists are linked from the comparison router in the how-to-choose section above.

1. Best Demo Trading Accounts

Demos vary more than people expect. Some expire after 30 days. Some run on stale prices. A few replicate live spreads and execution accurately enough to be useful. We rank the most usable demos for AU traders, including which ones reset, which support MT4/MT5/cTrader, and which let you keep the demo open after you fund a live account. Compare them in the best demo trading accounts in Australia guide.

2. Best ECN Brokers in Australia

True ECN means raw interbank pricing plus a fixed commission. Most ASIC brokers calling themselves “ECN” are actually STP or hybrid models. We unpack the difference, list the brokers offering genuine ECN execution, and benchmark spreads and commission on a typical 1.0-lot EUR/USD trade. The full list is in our guide to ECN forex brokers in Australia.

3. Best Forex Brokers for Beginners

The first 30 days are make-or-break. Beginners need a platform that doesn’t intimidate, education that isn’t a sales funnel, and a demo that gives an honest read on live conditions. We rank the brokers that consistently deliver on all three, and call out a couple we’d avoid for first-time traders even though they’re solid for experienced ones. See our shortlist of the best forex brokers for beginners.

4. Best Fixed Spread Forex Brokers

Fixed spreads are wider than variable on average, but they don’t widen during news, rollover or thin liquidity. For a small group of trader styles (swing, news, position) that tradeoff makes sense. We name the ASIC brokers offering meaningful fixed-spread accounts and explain when fixed beats variable. Compare the best fixed spread forex brokers.

5. Lowest Commission Forex Brokers

On RAW/ECN accounts the commission line often matters more than the spread. AUD 7 round-turn vs AUD 6 vs AUD 4.50 adds up fast if you’re trading 50 lots a month. We benchmark commission across every RAW account on the AU shortlist and rank by total cost on a typical EUR/USD trade. Our lowest commission forex brokers guide has the full benchmark.

6. Lowest Spread Forex Brokers

The most-asked question on the site. We test EUR/USD, AUD/USD and four other majors over a 24-hour cycle covering Sydney, Tokyo, London and New York sessions. IC Markets, Pepperstone and Fusion Markets cluster at the top. Differences are small. Commission and execution speed often decide the actual winner.

Trading forex and CFDs carries a high level of risk and can lead to the loss of some or all of your deposit; it is not suitable for everyone. Only trade with money you can afford to lose, and read each broker’s Product Disclosure Statement (PDS) and Target Market Determination (TMD) before opening an account.

Most Popular Forex Brokers in Australia

IG Markets is the most popular ASIC-regulated forex broker in Australia, with an estimated 176,000 monthly Australian visits to its website (Ahrefs, July 2026).

This ranking measures website visits, not trading quality: it is one lens on the market, separate from our tested best forex brokers verdict above, which scores each broker on live account testing. Popular is not the same as best.

ASIC-regulated forex brokers ranked by estimated monthly Australian website visits (July 2026)

#	Broker	Est. monthly AU visits
1	IG Markets* Most popular	176,000
2	CMC Markets*	109,700
3	eToro	42,600
4	Interactive Brokers	19,700
5	Forex.com	15,600
6	Pepperstone	14,000
7	AvaTrade	9,700
8	Plus500	9,300
9	FP Markets	8,100
10	Mitrade	7,400
* IG Markets and CMC Markets are multi-asset businesses in Australia including share trading; visits reflect their full websites. † OANDA excludes its currency-converter tool (about 94% of its AU organic traffic). ‡ Capital.com includes a material educational-content footprint. ThinkMarkets and Vantage, and Eightcap and Totality, tied on traffic; order set by domain rating.

Show all 29 ASIC-regulated brokers

#	Broker	Est. monthly AU visits
11	IC Markets	7,110
12	OANDA†	7,000
13	Capital.com‡	6,400
14	FXCM	3,100
15	TMGM	2,900
16	Vantage	2,700
17	ThinkMarkets	2,700
18	Axi	2,400
19	GO Markets	1,438
20	Eightcap	1,300
21	Totality	1,300
22	Trade Nation	1,200
23	Fusion Markets	1,179
24	Blueberry Markets	898
25	ACY Securities	823
26	easyMarkets	295
27	Global Prime	228
28	Trading.com	204
29	MultiBank Group	203

IG Markets, CMC Markets and eToro together attract more Australian visits than the remaining 26 brokers combined.

Ranked by estimated monthly Australian organic visits to each broker's website (Ahrefs, July 2026). OANDA excludes its currency-converter tool; Capital.com includes an educational-content footprint. Estimates are directional, not audited client counts. Updated quarterly.