Lowest Commission Forex Brokers in Australia (2026)

If you trade a commission account, the commission is half your cost and most comparison pages quote it wrong by mixing per-side and round-turn. So I have ranked the reviewed brokers on AUD commission per standard lot, per side. Fusion Markets is cheapest at A$2.25, then Vantage at A$2.50 and GO Markets at A$3.00. Seven brokers tie at A$3.50, where spread becomes the tiebreaker, and IC Markets is the dearest at A$4.50 despite having some of the tightest spreads I have tested. Here is what that means for your all-in cost.

The lowest-commission brokers right now

1. Fusion Markets (Zero), A$2.25 per side: cheapest commission in the reviewed set.
2. Vantage (Raw), A$2.50 per side: second cheapest, broader product range than Fusion.
3. GO Markets (Raw), A$3.00 per side: third, an established AU-based operator.
4. The A$3.50 tie group: Pepperstone, Eightcap, Axi, ThinkMarkets, Global Prime, Blueberry Markets and TMGM. Spread separates them, not commission.
5. FXCM (Active Trader), A$4.00 per side.
6. IC Markets (Raw Spread), A$4.50 per side: dearest on commission, the trade-off for the tight spreads.

Commission and all-in cost compared

All-in commission costs tested by Noam Korbl (RG146 Tier 2).

Broker	Account	Commission per side (AUD)	Round-turn (AUD)	Typical EUR/USD raw spread	All-in cost, 1 lot EUR/USD (AUD)	AFSL
Fusion Markets	Zero	2.25	4.50	0.04	A$5.12	385620
Vantage	Raw	2.50	5.00	0.18	A$7.77	428901
GO Markets	Raw	3.00	6.00	0.10	A$7.54	254963
Pepperstone	Razor	3.50	7.00	0.10	A$8.54	414530
Eightcap	Raw	3.50	7.00	0.00	A$7.00	391441
Axi	Pro	3.50	7.00	0.00	A$7.00	318232
ThinkMarkets	ThinkZero	3.50	7.00	0.11	A$8.69	424700
Global Prime	ECN	3.50	7.00	0.10	A$8.54	385620
Blueberry Markets	Direct	3.50	7.00	0.04	A$7.62	535887
TMGM	Edge	3.50	7.00	0.20	A$10.08	436416
FXCM	Active Trader	4.00	8.00	0.30	A$12.61	309763
IC Markets	Raw Spread	4.50	9.00	0.01	A$9.15	335692

Our reviews are reader supported and we may receive payment when you click on a partner site. Commission figures are in AUD per standard lot per side, taken from each broker’s current Australian disclosure, captured June 2026. The all-in cost column uses a 1.0 standard lot EUR/USD trade at the tested typical raw spread on an AUD account, with the pip value converted at AUD/USD 0.65 (AUD 15.38 per pip).

How commission accounts actually price

Per side vs round-turn

Commission is charged in two halves: once when you open a trade and once when you close it. A “per side” figure is one half; “round-turn” is both halves added together. A broker quoting A$3.50 per side charges A$7.00 round-turn on a standard lot. Always check which figure a broker is quoting, because comparing a per-side number against a round-turn number makes one look twice as cheap as it is.

Why near-zero spread plus commission can beat zero-commission accounts

A raw account pairs a near-zero spread with a fixed commission. A standard account folds the cost into a wider spread with no commission. For active traders the raw account is usually cheaper all-in, because the spread saving over many trades outweighs the commission cost. For occasional traders, a tight standard account can work out similar without the commission maths.

Brokers ranked on commission

1. Fusion Markets, A$2.25

Cheapest commission in the reviewed set, the clear lead. Smaller broker by client volume, strong purely on cost: the Zero account commission of A$4.50 round-turn is meaningfully below the AUD 7 round-turn at IC Markets and Pepperstone. Founded by an ex-Pepperstone executive, Melbourne-headquartered.

2. Vantage, A$2.50

Second cheapest commission with a broader product range than Fusion, including index and commodity CFDs alongside forex. Available on MT4, MT5, cTrader and TradingView.

3. GO Markets, A$3.00

Third cheapest, an established AU-based broker with the Go Plus account. Strong choice for traders who want a long-running operator with a competitive commission.

4. The A$3.50 tie group

Pepperstone, Eightcap, Axi, ThinkMarkets, Global Prime, Blueberry Markets and TMGM all sit at A$3.50 per side. Since commission cannot separate them, the spread does. Pair this guide with lowest-spreads for the tiebreaker; Eightcap and Axi tested tightest on the eight-pair raw average.

5. FXCM, A$4.00

Above the tie group on commission. Long-established US-listed brand, broad platform support.

6. IC Markets, A$4.50

The most expensive on commission despite the tightest spreads. This is the page’s key information-gain point: low spread, high commission, so the all-in cost depends on the pair. On a heavily traded pair the tight spread can claw back the higher commission; on a wider pair it cannot.

Commission is half the cost, spread is the other half

Commission alone misleads. A broker with the cheapest commission but a wider spread can be dearer all-in than a broker with a tighter spread and a higher commission. That is why every row in the table above shows both, and the all-in cost column adds them up.

For the spread-led view of the same accounts, see lowest spread forex brokers. For the execution-model view (why these accounts run no dealing desk and what that means), see ECN forex brokers.

Hidden fees beyond commission

Watch for these:

• Overnight swap or financing on positions held past rollover (usually 5pm New York time). Long positions are charged, short positions sometimes credited when rates are positive.
• Currency conversion if your account base differs from the instrument. Trading US shares from an AUD account converts twice — at entry and exit.
• Inactivity fees after a dormant period (varies, typically 6 to 12 months).
• Withdrawal fees on some methods, especially international wire.

A small commission difference can be wiped out by a high conversion margin or a monthly inactivity fee, so check each broker’s full schedule, not just the headline number.

AUD-base accounts and currency-conversion cost

An AUD-base account avoids conversion on AUD pairs and on commission, which usually wins over a USD-base account for an Australian trader. Where a broker quotes only USD commission, convert to AUD at the current rate to compare. The commission column in the table above is AUD; some brokers’ marketing pages still show USD.