10 Best Forex Brokers for Beginners in Australia (2026)

Plus500 is the easiest starting point for a new trader, with a single clean WebTrader account, no commission and Guaranteed Stop Loss Orders where the premium is only charged if the stop is triggered. Pricing is spread only, EUR/USD runs roughly 0.6 to 1.0 pips, and the minimum deposit is A$100. Plus500AU holds ASIC AFSL 417727 and the parent is listed on the London Stock Exchange.

London Stock Exchange-listed (FTSE 250) and ASIC-regulated under AFSL 417727 since 2008, Plus500 operates a markup-pricing model on a proprietary platform with no MT4/MT5/cTrader.

Spreads are baked into the price (no commission). EUR/USD averages around 0.8 pips. The platform is deliberately simple: a single account type, a clean trade ticket and 2,800+ CFD instruments. Guaranteed stop-loss orders are available for a small premium.

$100 minimum deposit with fee-free AU funding via PayID, BPAY, card and PayPal. Retail leverage capped at ASIC's maximum on major pairs. AFCA dispute coverage and negative balance protection standard.

Plus500 spread table (averaged over our most recent test cycle):

eToro is the strongest pick for beginners drawn to copy trading, with CopyTrader letting you mirror another trader from a USD 200 allocation and Smart Portfolios grouping themed baskets. It also offers real share investing at a flat USD 2 per trade alongside CFDs, crypto and ETFs in one app. The account is USD-denominated, so every AUD deposit converts, the minimum is USD 50, and eToro holds ASIC AFSL 491139.

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, so 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 maximum on major pairs. AFCA dispute coverage standard.

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

easyMarkets suits cautious beginners who want fixed pricing they can plan around, with EUR/USD fixed at 0.7 pips and AUD/USD at 1.2 pips on the Web and App platform and on TradingView. Its free dealCancellation feature, which lets you undo a losing trade within 60 minutes for a small premium, is not offered by any other broker we cover. The minimum deposit is A$200 and easyMarkets holds ASIC AFSL 246566.

Founded in 2001 (originally as easy-forex), easyMarkets is ASIC-regulated under AFSL 246566 and one of the few brokers offering genuine fixed spreads to AU clients alongside variable Raw pricing.

The Fixed account quotes EUR/USD at 0.7 pips with no commission, never widening through news events. The Variable account follows a more standard Raw model. Platforms supported are the proprietary easyMarkets web and app, plus MT4, MT5 and native TradingView trading.

$200 minimum deposit with fee-free AU funding via PayID, BPAY, card and Skrill/Neteller. Retail leverage capped at ASIC's maximum on major pairs. AFCA dispute coverage and negative balance protection standard.

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

OANDA gives a beginner room to learn without pressure, pairing an unlimited demo loaded with USD 100,000 in virtual funds with a Standard account that has no minimum deposit and no commission. The OANDA Trade platform supports guaranteed stop-loss orders, native TradingView execution is built in, and MT4 and MT5 are there when you outgrow the basics. OANDA has held ASIC AFSL 412981 since around 2010, with dual ASIC and US CFTC oversight in its group.

OANDA holds ASIC AFSL 412981 as OANDA Australia Pty Ltd and also carries CFTC registration in the United States, giving it one of the broadest regulatory footprints available to Australian retail traders. It sits second of the 29 ASIC-regulated brokers we rank.

The Standard account has no minimum deposit and prices everything into the spread, with EUR/USD around 1.0 to 1.4 pips published and no separate commission. Traders who later outgrow spread-only pricing can move to the Raw account, quoted from 0.0 pips with a separate per-lot commission, without leaving the broker.

Platforms include the OANDA Trade web and mobile app plus MT4, MT5 and TradingView. A free demo comes with AUD 100,000 in virtual funds and no expiry, while retail leverage is capped at ASIC's maximum on major pairs, with negative balance protection and AFCA dispute coverage standard.

Capital.com is built for beginners who want guidance, pairing a modern WebTrader platform and native TradingView execution with the Investmate education app that flags behavioural bias patterns. Retail pricing is spread only with no separate commission, EUR/USD is typically around 0.7 pips, and the minimum deposit is A$20. It holds ASIC AFSL 513393 within a group also regulated by the FCA and CySEC.

Founded in 2016 and ASIC-regulated under AFSL 513393, Capital.com is best known for Investmate, its in-house AI assistant that surfaces behavioural biases and recommends learning content based on your trade history.

Spreads start from 0.6 pips on EUR/USD with no commission on the Standard account. Platforms supported are Capital.com's proprietary web and mobile apps, MT4 and native TradingView trading.

$20 minimum deposit with fee-free AU funding via PayID, BPAY, card and Apple Pay. Retail leverage capped at ASIC's maximum on major pairs. AFCA dispute coverage and negative balance protection standard.

Capital.com spread table (averaged over our most recent test cycle):

Blueberry Markets is a beginner-friendly Australian operation known for hand-holding support, with 24/7 multilingual live chat that answered in under 60 seconds in our testing and an account manager phone call within four hours of opening. The spread-only Standard account needs just A$100 to start, there are no inactivity or bank-withdrawal fees, and MT4 and MT5 come with the Blueberry Pulse market-context add-on. Blueberry holds ASIC AFSL 535887.

Blueberry Markets has been ASIC-regulated since 2015 under AFSL 535887 as Blueberry Australia Pty Ltd (ABN 67 646 513 797), is an AFCA member and holds client money in segregated accounts at an Approved Australian Bank.

The Standard account is spread-only with EUR/USD around 1.0 pip and no commission; the Direct account moves to RAW-style pricing from 0.0 pips with a A$7.00 round-turn commission (A$3.50 per side). Both carry a A$100 minimum deposit.

Platforms are MT4, MT5 and the proprietary Blueberry X app, with the Blueberry Pulse add-on for market context; there is no cTrader or TradingView. Retail leverage is capped at ASIC's maximum on major pairs, with negative balance protection and AFCA dispute coverage standard.

Mitrade is the simplest mobile-first option, a proprietary app-based CFD platform for traders who would rather tap through an app than set up MetaTrader. Pricing is spread only with no commission, EUR/USD runs around 0.8 pips typical, and the minimum deposit is A$100. Mitrade holds ASIC AFSL 398528, though it does not support expert advisors or automated trading.

Founded in 2011 and ASIC-regulated under AFSL 398528, Mitrade runs a single-platform proprietary web and mobile app aimed at mobile-first beginners. No MT4, MT5, cTrader or TradingView.

The standard account is commission-free with EUR/USD spreads from 0.6 pips. Account onboarding is simplified to a single flow, with $100 minimum deposit.

Fee-free AU funding via PayID, BPAY, card and select e-wallets. Retail leverage capped at ASIC's maximum on major pairs. AFCA dispute coverage and negative balance protection standard.

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

CMC Markets pairs a polished Next Generation app with room to grow, spanning forex, indices, commodities, share CFDs and treasuries under one login. The no-commission Standard account measured among the tightest in our testing at about 0.5 pips on EUR/USD, there is no minimum deposit, and the demo is unlimited. CMC has operated under AFSL 238054 since 2002 and is listed on the London Stock Exchange.

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 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 maximum on major pairs. 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):

IG Markets suits a beginner who wants a defined worst case, because its Limited Risk account attaches a guaranteed stop to every position so the maximum loss is known before the trade is placed. The free unlimited demo and 24/7 support ease the learning curve, and 17,000+ markets leave plenty of room to grow. The minimum deposit is A$450 and IG Australia has held ASIC AFSL 515106 while operating here since 2002.

IG Markets holds ASIC AFSL 515106 as IG Australia Pty Ltd, has operated in Australia since 2002 and traces its parent back to a 1974 London founding; the group is an LSE-listed FTSE 250 constituent (LSE:IGG) and also carries FCA, MAS and CIRO oversight. It sits 13th of the 29 ASIC-regulated brokers we rank.

The Standard CFD account is spread-only on forex, with EUR/USD advertised from 0.6 pips and measured around 1.1 pips; the Forex Direct account moves to raw pricing from about 0.16 pips plus A$3.50 per side. The catalogue runs past 17,000 markets, including 13,000+ share CFDs, 30+ indices and treasuries such as the Australian 10-year bond and US T-Notes.

Platforms are the IG web platform, MT4, ProRealTime and the L2 Dealer DMA service; there is no MT5, cTrader or native TradingView on the AU entity. The A$450 minimum deposit is the highest here, while retail leverage is capped at ASIC's maximum on major pairs, with negative balance protection, AFCA dispute coverage and 24/7 support standard.

AvaTrade rounds out the list on the strength of its education, with the AvaAcademy library described as among the deepest in the Australian market and support in more than 14 languages. New traders get the mobile AvaTradeGO app with the AvaProtect trade-insurance feature, a renewable 21-day demo, and spread-only pricing with EUR/USD around 0.8 pips from an A$100 minimum deposit. AvaTrade has held ASIC AFSL 406684 since 2014; watch the USD 50 inactivity fee that starts after three months of dormancy.

AvaTrade trades in Australia as Ava Capital Markets Australia Pty Ltd under ASIC AFSL 406684, held continuously since 2014, and is an AFCA member; the wider group also answers to the Central Bank of Ireland, the FSA in Japan, the FSCA and others.

The retail offer is a single spread-only Standard account with no commission and EUR/USD from 0.8 pips, spanning 1,250+ instruments and 60+ forex pairs. There is no RAW or commission tier for active traders.

Platforms are MT4, MT5, the AvaTradeGO app and AvaOptions, the last offering real vanilla forex options on 40+ pairs, with AvaSocial and DupliTrade for copy trading. The A$100 minimum deposit and 21-day renewable demo suit newer traders, though inactivity and admin fees are aggressive; retail leverage is capped at ASIC's maximum on major pairs, with negative balance protection and AFCA cover standard.