Best Forex Brokers in Australia (2026)

With an overall score of 98/100, Pepperstone is our top-rated broker. The Razor account hits zero-pip spreads on EUR/USD more often than any other broker we tested, with commissions of AUD 3.50 per side per lot, making it one of the best choices for low trading costs.

Melbourne-headquartered and ASIC-regulated under AFSL 414530, Pepperstone gives Australian traders access to MT4, MT5, cTrader and TradingView. Execution averaged 77ms in our last round of testing.

Founded in Melbourne in 2010 under ASIC AFSL 414530, Pepperstone is one of Australia's largest forex brokers and has been continuously Australian-regulated since launch. It also holds Tier-1 licences with the FCA (UK), BaFin (Germany), CySEC (Cyprus), CMA (Kenya) and DFSA (Dubai).

Two main account types are offered. The Razor (RAW) account pairs EUR/USD spreads from 0.06 pips with AUD 7 round-turn commission per standard lot. The Standard account is commission-free with EUR/USD from roughly 1.1 pips. Five trading platforms are supported: MT4, MT5, cTrader, TradingView and the Pepperstone Trading Platform.

Funding is fee-free via PayID, BPAY, card and PayPal. AUD-denominated accounts available. Retail leverage capped at ASIC's 30:1 on major pairs, with negative balance protection and AFCA dispute coverage standard. Customer support runs 24/7 by live chat.

Pepperstone spread table (averaged over our most recent test cycle):

IC Markets is our pick for the lowest spreads in Australia. Average EUR/USD on the Raw Spread account is 0.02 pips with AUD 7 round-turn commission per standard lot, putting overall cost per trade at the leading edge of the AU market.

Sydney-founded in 2007, IC Markets holds AFSL 335692 and offers MetaTrader 4, MetaTrader 5 and cTrader. The deep ECN liquidity from 25+ Tier-1 banks is the main reason scalpers and EA traders cluster here.

Founded in Sydney in 2007 (AFSL 335692), IC Markets is one of Australia's longest-running ECN brokers. The Raw Spread account delivers EUR/USD spreads from 0.02 pips with AUD 7 round-turn commission, while the cTrader RAW account uses AUD 6 commission. The Standard account is commission-free with spreads from 1.0 pips.

Liquidity is sourced from 25+ Tier-1 banks and dark pools, delivering true ECN execution that suits scalpers and EA traders. Platforms supported are MT4, MT5 and cTrader (no native TradingView on the AU entity). Over 2,250 tradeable instruments span forex, indices, commodities, bonds, shares and crypto CFDs.

Minimum deposit is $200 — higher than the $0 brokers in this list. AUD funding via PayID, BPAY and card is fee-free. Retail leverage capped at ASIC's 30:1 on major pairs, with AFCA dispute coverage and negative balance protection.

IC Markets spread table (averaged over our most recent test cycle):

Eightcap leads our crypto coverage on the ASIC shortlist with 250+ crypto derivative markets — the deepest crypto CFD range of any ASIC broker we cover. Subject to ASIC's 2:1 retail leverage cap on cryptocurrency CFDs.

Melbourne-founded in 2009 (AFSL 391441), Eightcap pairs that crypto range with strong execution on forex Raw accounts and native TradingView trading. Spreads from 0 pips on Raw accounts.

Melbourne-founded in 2009 (AFSL 391441), Eightcap is the deepest crypto CFD broker in our ASIC-regulated shortlist with 250+ crypto derivative markets. Subject to ASIC's 2:1 retail leverage cap on crypto CFDs.

Two account types are available. The Raw account pairs EUR/USD spreads from 0.0 pips with AUD 7 round-turn commission. The Standard account is commission-free with spreads from 1.0 pips. Platforms supported are MT4, MT5 and native TradingView trading.

Funding is fee-free via PayID, BPAY and card, with $100 minimum deposit. AUD-denominated accounts available. Retail leverage capped at ASIC's standard tiers, with AFCA dispute coverage and negative balance protection. Customer support runs 24/5 by live chat and email.

Eightcap spread table (averaged over our most recent test cycle):

IG is one of the oldest and most-trusted brokers in the industry, listed on the London Stock Exchange (FTSE 250) and regulated in 11 jurisdictions including ASIC under AFSL 220440.

The main draw for AU clients is the 18,000+ tradeable markets — IG has the broadest range of any ASIC-regulated broker we cover, including 17,000+ share CFDs. $0 minimum deposit and fee-free AU funding round out the offer.

IG is one of the oldest brokers in the industry, founded in 1974 and listed on the London Stock Exchange (FTSE 250). The AU entity has operated under AFSL 220440 since 2002. The group also holds FCA (UK), MAS (Singapore), CIRO (Canada) and 8 additional Tier-1 licences.

The headline draw is product breadth: 18,000+ tradeable markets including 17,000+ share CFDs, the broadest range of any ASIC-regulated broker we cover. Forex coverage spans 90+ pairs. Spreads start from 0.6 pips on EUR/USD with no commission on the standard account; an Active Trader rebate programme is available for high-volume clients.

$0 minimum deposit and fee-free AU funding via PayID, BPAY, card and PayPal. Platforms include MT4, the IG Web Platform and the IG Mobile App. Retail leverage capped at ASIC's 30:1 on majors. Negative balance protection and AFCA dispute coverage standard.

IG Markets spread table (averaged over our most recent test cycle):

OANDA scored 92/100 in our review, and it's the broker we recommend most often for traders new to forex. Operating since 1996, OANDA holds licences across 10 major jurisdictions including ASIC (AFSL 412981).

The OANDA Trade proprietary platform is clean, fast and well-built for currency-focused traders. The mobile app is the strongest of any broker we tested for beginners. Native TradingView integration is included.

Founded in Toronto in 1996, OANDA is one of the most comprehensively regulated brokers in the world, holding licences with ASIC (AFSL 412981), the CFTC/NFA (US), FCA (UK), MAS (Singapore), CIRO (Canada) and JFSA (Japan).

Three account tiers are available. The Standard account is commission-free with EUR/USD spreads from about 1.0 pip; Core pricing pairs tighter spreads with a small commission; Elite pricing unlocks the lowest spreads (sub-AUD 20,000 minimum balance required). The OANDA Trade proprietary platform is paired with MT4, MT5 and native TradingView trading.

$0 minimum deposit with fee-free AU funding via PayID, BPAY, card and PayPal. AUD-denominated accounts available. Retail leverage capped at ASIC's 30:1 on majors. Negative balance protection and AFCA dispute coverage standard. Customer support runs 24/5 via live chat, email and phone.

OANDA spread table (averaged over our most recent test cycle):

CMC Markets scored 68/100 on this comparison, based on its broad range of 12,000+ markets, including 283 forex pairs — the most currency pairs on any platform sold to Australian retail clients.

CMC is ASX-listed (ASX:CMC) and ASIC-regulated under AFSL 238054 since 2002. The Next Generation platform offers advanced charting tools, pattern recognition and a client sentiment feed. CMC also operates an integrated stockbroking service for ASX equities.

Founded in London in 1989 and operating in Australia since 2002, CMC Markets is one of the longest-tenured CFD brokers in the AU market. The AU entity holds AFSL 238054. The group is LSE-listed (LON:CMCX) and also holds FCA (UK), BaFin (Germany), MAS (Singapore) and CIRO (Canada) licences.

Standard account spreads start from 0.5 pips on EUR/USD with no commission; FX Active pairs tighter spreads with a commission. CMC also runs a separate stockbroking service for direct ASX share investing. The Next Generation platform pairs with MT4 (no MT5 or cTrader on the AU entity).

$0 minimum deposit and fee-free AU funding via PayID, BPAY and card. Retail leverage capped at ASIC's 30:1 on majors. Negative balance protection and AFCA dispute coverage standard. Customer support runs 24/5 by live chat, email and phone.

CMC Markets spread table (averaged over our most recent test cycle):

AvaTrade is our pick for day trading thanks to the AvaTradeGO mobile app, designed for quick entry and live monitoring through the trading day. The platform stack also includes MT4, MT5, AvaOptions and AvaSocial copy trading.

AvaTrade is ASIC-regulated via Ava Capital Markets Australia under AFSL 406684, with additional Tier-1 regulators on three other continents. AvaOptions offers genuine vanilla forex options — a rare feature among AU brokers.

Dublin-headquartered AvaTrade has been ASIC-regulated under Ava Capital Markets Australia (AFSL 406684) since 2014. The group also holds licences with the FFAJ (Japan), CySEC (Cyprus), BVIFSC (BVI), FSCA (South Africa) and ADGM (UAE).

AvaTrade runs a Standard-only account model with no Raw/ECN tier. EUR/USD spreads sit around 0.9 pips with no commission. The platform stack is the broadest of any broker in our shortlist: MT4, MT5, AvaOptions, AvaSocial, DupliTrade, AvaTradeGO and WebTrader.

$100 minimum deposit; fee-free AU funding via card, bank transfer and Skrill/Neteller. Note the aggressive fee schedule: USD 50 inactivity fee after three months idle, plus a USD 100 administration fee after twelve months. Retail leverage capped at ASIC's 30:1 on majors.

AvaTrade spread table (averaged over our most recent test cycle):

FP Markets is our pick for scalping based on fast market-order execution and tight Raw account spreads from 0.10 pips on EUR/USD. The broker also operates the IRESS account, the only DMA ASX equities route on our shortlist.

FP Markets has been operating from Sydney under ASIC since 2005 (AFSL 286354). The platform stack covers MT4, MT5, cTrader, TradingView and IRESS Trader — broadest of any RAW-style broker in Australia.

Founded in Sydney in 2005, FP Markets holds AFSL 286354 and is one of the longest-running Australian-headquartered RAW-style brokers. The group also holds CySEC (Cyprus), FSCA (South Africa), FSC (Mauritius) and CMA (Kenya) licences.

The Raw account pairs EUR/USD spreads from 0.0 pips with AUD 6 round-turn commission per standard lot. The Standard account is commission-free with wider spreads. The differentiator on this list is the IRESS account, which provides DMA access to ASX equities and international shares — a feature no other RAW broker offers.

$100 minimum deposit on the Raw and Standard accounts; the IRESS account requires a separate application and higher balance. Funding is fee-free via PayID, BPAY, card and PayPal. Retail leverage capped at ASIC's 30:1 on majors. AFCA dispute coverage and negative balance protection standard.

FP Markets spread table (averaged over our most recent test cycle):

Totality is positioned as the premium-tier ASIC broker for serious retail traders. The product range covers forex, indices, commodities, share CFDs, treasuries, ETFs and options — broader than any other broker on this list except IG.

The $1,000 minimum deposit puts Totality in the experienced-trader bracket rather than the retail entry tier. ASIC-regulated under AFSL 280372 as Totality Wealth Infrastructure Group Pty Ltd, positioned as the rebranded successor to Saxo Capital Markets in the AU market.

Totality is the ASIC-regulated AU entity (AFSL 280372) positioned as the rebranded successor to Saxo Capital Markets in Australia. The product range inherits Saxo's institutional-grade depth: forex, indices, commodities, share CFDs, real equities, options, futures, bonds and ETFs.

The platform stack is built on SaxoTraderGO and SaxoTraderPRO, both regularly rated among the strongest proprietary platforms in any market. Standard account pricing applies with a tiered structure based on balance.

$1,000 minimum deposit puts Totality outside the retail entry tier. AU funding via bank transfer and card. Retail leverage capped at ASIC's 30:1 on majors. Negative balance protection and AFCA dispute coverage standard. Verify current terms before opening an account given the recent rebrand.

eToro is our pick for social and copy trading. No other copy trading service comes close to eToro's CopyTrader platform in our view. The platform is beginner-friendly, lets you replicate selected investors' trades automatically, and is integrated into the main eToro app.

eToro is ASIC-regulated under AFSL 491139 (eToro AUS Capital Pty Ltd) since 2018 and also holds FCA (UK) and CySEC (Cyprus) regulation. Real share investing across US, AU, UK and EU exchanges is offered with zero commission.

Founded in Tel Aviv in 2007 and operating in Australia since 2018 under AFSL 491139, eToro is the world's largest social trading platform with 30M+ registered users globally. The group also holds FCA (UK), CySEC (Cyprus) and FinCEN (US) regulation.

eToro's proprietary platform supports both forex/CFD trading and direct share investing with zero commission across US, AU, UK and EU exchanges. CopyTrader lets you automatically replicate other traders' positions; Smart Portfolios bundle thematic baskets. No MT4, MT5, cTrader or TradingView trading.

Account currency is USD only — AUD funding converts at deposit and withdrawal. $50 USD minimum deposit; funding via card, PayPal, bank transfer and select e-wallets. Retail leverage capped at ASIC's 30:1 on majors. AFCA dispute coverage standard.

eToro spread table (averaged over our most recent test cycle):

TMGM is included for traders looking for higher leverage than ASIC's retail caps allow. Through TMGM's New Zealand-licensed entity, eligible Australian wholesale clients can access higher leverage than the 30:1 retail cap.

Important caveat: higher leverage offered through an offshore entity is not covered by ASIC's retail protections. AFCA membership applies only to the Australian-licensed entity (AFSL 436416), which follows the standard ASIC retail caps.

Sydney-founded in 2013, TMGM (Trademax Group Limited) is ASIC-regulated under AFSL 436416. The group also operates a New Zealand-licensed entity (FSPR), which is used to offer higher leverage to qualifying wholesale clients outside ASIC's retail caps.

The Edge account pairs EUR/USD spreads from 0.0 pips with USD 7 round-turn commission per standard lot. The Classic account is commission-free with wider spreads. Platforms supported are MT4, MT5 and IRESS Trader — useful for traders wanting ASX share access alongside forex/CFD trading.

$100 minimum deposit; AU funding via PayID, BPAY, card and bank transfer. Note inactivity fees: USD 10 per month after 12 months dormant. Retail leverage capped at ASIC's 30:1 on majors on the AFSL entity; offshore wholesale leverage requires eligibility under the Corporations Act wholesale tests.

TMGM spread table (averaged over our most recent test cycle):