If you trade a commission account, commission is half your cost, and most comparison pages get it wrong by mixing per-side and round-turn quotes. That is why I rank the brokers we review on AUD commission per standard lot. ACY Securities is cheapest at A$1.50 per side, then Axi at a single A$4.50 round-turn charge, Fusion Markets at A$2.25 per side, Vantage at A$2.50 and GO Markets at A$3.00. Seven brokers sit at A$3.50 per side, where spread breaks the tie, and IC Markets is the dearest at A$4.50 per side despite some of the tightest spreads our capture has recorded. Below, I show what that means for your all-in cost.
Which forex broker has the lowest commission in Australia?
I give the lowest-commission title to ACY Securities, which charges A$1.50 per side on the Pro Zero account, or A$3.00 round-turn. Axi bills a single A$4.50 round-turn charge on its Pro account, and Fusion Markets matches that at A$2.25 per side; what swings it for me is the all-in cost once the spread is included. Fusion's one-lot trade comes in at A$4.65 all-in against Axi's A$5.23, with spreads from our October 2026 capture and both A$ amounts priced at the 11 November 2026 close, so I want you reading the table's all-in figure per trade, because commission is only half the story.
- ACY Securities: cheapest commission, A$1.50 per side.
- Fusion Markets: A$2.25 per side, tightest raw spread, October 2026.
- Axi: A$4.50 round turn, 0.05 pip EUR/USD, October 2026.
- Vantage: A$2.50 per side on the RAW account.
- GO Markets: A$3.00 per side on GO Plus+.
- Pepperstone: A$3.50 per side, rebates cut it further.
- Eightcap: A$3.50 per side, 0.10 pip EUR/USD average, October 2026.
- ThinkMarkets: A$3.50 per side on ThinkZero, 0.17 pip EUR/USD, October 2026.
- Global Prime: A$3.50 per side, 0.08 pip EUR/USD average, October 2026.
- FP Markets: A$3.50 per side plus IRESS access.
- IC Markets: A$4.50 per side, Raw Spread, 0.10 pip EUR/USD, October 2026.
Per-side pricing is the headline number, but all-in cost per trade is what you actually pay. I treat all-in cost as the ranking figure. The comparison table shows both columns so you can weigh them together.
Forex broker commission and all-in cost compared
Commission data collected by Noam Korbl, RG146.
| # | Broker | Account | Commission per side (AUD) | Typical EUR/USD raw spread | All-in cost, 1 lot EUR/USD (AUD) | Visit broker | More details |
|---|---|---|---|---|---|---|---|
| 1 | #1 Lowest commission ACY SecuritiesAFSL 403863 | Pro Zero | 1.50 | 0.26 | A$6.79 | Visit ACY Securities | |
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| 2 |  Fusion MarketsAFSL 385620 | Zero | 2.25 | 0.01 | A$4.65 | Visit Fusion Markets | |
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| 3 |  AxiAFSL 318232 | Pro | Billed round turn | 0.05 | A$5.23 | Visit Axi | |
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| 4 |  VantageAFSL 428901 | Raw | 2.50 | 0.15 | A$7.19 | Visit Vantage | |
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| 5 |  GO MarketsAFSL 254963 | GO Plus+ | 3.00 | 0.08 | A$7.17 | Visit GO Markets | |
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| 6 |  PepperstoneAFSL 414530 | Razor | 3.50 | 0.10 | A$8.46 | Visit Pepperstone | |
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| 7 |  EightcapAFSL 391441 | Raw | 3.50 | 0.10 | A$8.46 | Visit Eightcap | |
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| 8 |  ThinkMarketsAFSL 424700 | ThinkZero | 3.50 | 0.17 | A$9.48 | Visit ThinkMarkets | |
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| 9 |  Global PrimeAFSL 385620 | ECN | 3.50 | 0.08 | A$8.17 | Visit Global Prime | |
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| 10 |  FP MarketsAFSL 286354 | Raw | 3.50 | 0.08 | A$8.17 | Visit FP Markets | |
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| 11 |  OANDAAFSL 412981 | Raw | 3.50 | 0.20 | A$9.91 (July 2026) | Visit OANDA | |
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| 12 |  Blueberry MarketsAFSL 535887 | Direct | 3.50 | 0.13 | A$8.89 | Visit Blueberry Markets | |
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| 13 |  IC MarketsAFSL 335692 | Raw Spread | 4.50 | 0.10 | A$10.46 | Visit IC Markets | |
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| 14 |  TMGMAFSL 436416 | Edge | 5.10 (USD 3.50) | Not measured | Not priced (spread not measured) | Visit TMGM | |
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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. TMGM bills commission in US dollars, so its AUD figures are converted at the 11 November 2026 close of AUD/USD 0.6865 and move with the rate. The all-in cost column prices a 1.0 standard lot EUR/USD trade at the typical raw spread from our October 2026 capture on an AUD account, plus the round-turn commission, using the pip value AUD 14.57 at the 11 November 2026 close of AUD/USD 0.6865. Rows the October 2026 capture did not measure carry a label in their all-in cell: an earlier capture window, an advertised spread, or a spread not measured. Rows from different windows are not compared with each other. Axi bills one round-turn charge on the Pro account, so no per-side figure applies and its row states the round turn.
Watch: Lowest commission forex brokers Australia.
CFDs are leveraged products and carry a high risk of loss. Most retail CFD accounts lose money. That warning is straightforward, and I need you to review the broker's PDS and TMD before trading.
ACY Securities at A$1.50 per side
ACY Securities charges the lowest forex commission of any broker I rank, at A$1.50 per side (A$3.00 round turn) on the Pro Zero account. The commission is billed in Australian dollars for AU clients, and EUR/USD averaged 0.26 pips in our October 2026 capture, bringing the all-in cost near A$6.79 on a one-lot EUR/USD trade at the 11 November 2026 close. ACY has held ASIC AFSL 403863 from its Sydney base since 2011 and runs a bilingual English, Mandarin and Cantonese desk. That AUD billing means you can check the commission line without a conversion step.
All-in cost per lot
A$6.79 (EUR/USD 0.26 pips, Raw, measured October 2026, plus A$3.00 round turn)
Trading platforms
MT4, MT5, ACY Trading Platform
Minimum deposit
US$200
Regulation
ASIC AFSL 403863
Why higher here? Commission Fit weights commission alone. ACY charges A$1.50 per side on Pro Zero, the cheapest rate on this page, which lifts it above its #14 sitewide position. Platform depth, brand recognition and market range are what keep it from ranking higher overall. See the ranking method ↓
Pros & Cons
Pros
- Cheapest per-side commission in the set at A$1.50 (A$3.00 round-turn)
- EUR/USD averaged 0.26 pips in our October 2026 capture
- Bilingual English, Mandarin and Cantonese desk support
Cons
- Ranks #14 of 33 overall; platform depth, brand and market range trail the leaders
- Eight-pair spread average of 0.78 pips sits last of the 12 raw accounts in our October 2026 capture
- Proprietary platform trails Next Generation and cTrader
Fusion Markets at A$2.25 per side
Fusion Markets is joint second cheapest at A$2.25 per side (A$4.50 round turn) on the Zero account, level with Axi's single A$4.50 round-turn charge. Our October 2026 capture recorded EUR/USD at 0.01 pips and a 0.10 pip average across eight majors, ranked first of all 12 raw accounts measured. That puts its round turn well below Pepperstone's A$7.00 and IC Markets' A$9.00. Fusion was founded by an ex-Pepperstone executive and is based in Melbourne under AFSL 385620. I would pick Fusion when you want raw spread performance more than brand name.
All-in cost per lot
A$4.65 (EUR/USD 0.01 pips, Raw, measured October 2026, plus A$4.50 round turn)
Trading platforms
mt4, mt5, ctrader, tradingview
Minimum deposit
A$0
Regulation
ASIC AFSL 385620
Pros & Cons
Pros
- Joint second-cheapest commission with Axi, Zero account at A$4.50 round-turn, with the tightest raw spread here
- Meaningfully below Pepperstone (A$7.00) and IC Markets (A$9.00)
- Founded by an ex-Pepperstone executive, Melbourne-headquartered
Cons
- Strong purely on cost rather than range or extras
- Best suited to traders who prioritise commission above all
Axi at A$4.50 round turn
Axi holds joint second cheapest commission on this page with its Pro account at A$4.50 per standard lot round turn, so what you pay is billed as a single charge in Australian dollars and taken in full from your account when the trade opens. Fusion Markets matches it at A$2.25 per side, so both sit behind ACY Securities. Axi's website and its support desk had both quoted US$7.00 round turn; two trades on our live AUD MT5 Pro account on 8 September 2026 (0.01 lot charged A$0.05, 0.03 lot charged A$0.14) settled the A$4.50 figure. Our October 2026 capture measured Pro at 0.05 pips on EUR/USD and 0.24 pips across eight pairs, third tightest of the 11 raw accounts, an all-in cost of A$5.23 per standard lot at the 11 November 2026 close. I rate that pricing as strong value for what you trade. If you want platform choice, Axi runs MT4, MT5 and the browser-based Axi Trading Platform, asks no minimum deposit, and has held AFSL 318232 since 2007.
All-in cost per lot
A$5.23 (EUR/USD 0.05 pips, Raw, measured October 2026, plus A$4.50 round turn)
Trading platforms
mt4, mt5, proprietary
Minimum deposit
A$0
Regulation
ASIC AFSL 318232
Why higher here? Commission Fit weights commission alone, and Axi's A$4.50 round turn equals Fusion Markets' as joint second cheapest on this page, which lifts it above its #21 sitewide position. See the ranking method ↓
Pros & Cons
Pros
- Joint second cheapest commission at A$4.50 round turn per standard lot
- 0.05 pips on EUR/USD in our October 2026 capture
- MT4, MT5 and the Axi Trading Platform with no minimum deposit
Cons
- No cTrader or native TradingView, and free VPS is limited to the Elite account
Vantage at A$2.50 per side
Vantage is fourth cheapest at A$2.50 per side (A$5.00 round turn) on the RAW account. It offers a broader product range than Fusion. Our October 2026 capture recorded the RAW account at 0.15 pips on EUR/USD and a 0.58 pip average across eight majors, and the all-in cost on those figures lands near A$7.19 on a standard lot at the 11 November 2026 close. Vantage runs MT4, MT5 and native TradingView, and has held AFSL 428901 since 2012. I would consider Vantage when you want more than forex in one account.
All-in cost per lot
A$7.19 (EUR/USD 0.15 pips, Raw, measured October 2026, plus A$5.00 round turn)
Trading platforms
mt4, mt5, tradingview
Minimum deposit
A$50
Regulation
ASIC AFSL 428901
Why higher here? Commission Fit weights commission alone. Vantage charges A$2.50 per side on RAW Classic, the fourth-cheapest on this page, which lifts it well above its #17 sitewide position. Its spread figure comes from our October 2026 capture. See the ranking method ↓
Pros & Cons
Pros
- Fourth cheapest commission in the set
- Broader product range than Fusion
- Available on MT4, MT5 and TradingView
Cons
- Commission higher than the Fusion Zero account
- Spread figures come from a May to June 2026 capture not tied to the AU account
- Overall site ranking below the leaders
GO Markets at A$3.00 per side
GO Markets charges A$3.00 per side (A$6.00 round turn) on the GO Plus+ account. It's one of the longest running Australian brokers, holding AFSL 254963. Our October 2026 capture put GO Markets' EUR/USD at 0.08 pips with a 0.35 pip eight-pair average, for an all-in cost near A$7.17 at the 11 November 2026 close. I'd point you here if you want an established operator at a competitive commission rather than an outright price leader.
All-in cost per lot
A$7.17 (EUR/USD 0.08 pips, Raw, measured October 2026, plus A$6.00 round turn)
Trading platforms
mt4, mt5, ctrader, tradingview
Minimum deposit
A$200
Regulation
ASIC AFSL 254963
Why higher here? Commission Fit weights the round-turn commission on a raw account, which lifts GO Markets above its #13 sitewide position. See the ranking method ↓
Pros & Cons
Pros
- Fourth cheapest commission in the set
- Established AU-based broker with the GO Plus+ account
- Long-running operator at a competitive commission
Cons
- Commission above ACY, Fusion, Axi and Vantage
- A$3.00 per side (A$6.00 round turn), with ACY, Fusion Markets, Axi and Vantage all charging less
- Fewer headline extras than the larger brokers
The A$3.50 per side tie group
Pepperstone, Eightcap, ThinkMarkets, Global Prime, FP Markets, OANDA and Blueberry Markets all sit at A$3.50 per side. Commission can’t separate them, so spread is the tiebreaker. Pair this guide with our lowest-spreads page; in our October 2026 capture, Global Prime has the tie group’s lowest all-in and tightest eight-pair average, while OANDA’s July 2026 figures sit on their own window and are not ranked against it. Axi left this tie when we verified its Pro pricing as a single A$4.50 round-turn charge; its corrected figures sit second in the comparison table above. I would treat the eight-pair raw average as the deciding number, and you can use it to split the tie.
Pepperstone is top-rated in the tie group
All-in cost per lot
A$8.46 (EUR/USD 0.10 pips, Raw, measured October 2026, plus A$7.00 round turn)
Trading platforms
mt4, mt5, ctrader, tradingview
Minimum deposit
A$0
Regulation
ASIC AFSL 414530
Why lower here? Commission Fit weights the round-turn commission on a raw account rather than the all-round strengths behind Pepperstone's #1 sitewide position. See the ranking method ↓
Why We Recommend Pepperstone
Within that tie group, Pepperstone matches the others at A$3.50 per side (A$7.00 round turn) on the Razor account. It's the highest rated broker in that pack. Razor pricing runs across MT4, MT5, cTrader and TradingView. Our October 2026 capture put EUR/USD at 0.10 pips with a 0.37 pip eight-pair average, and the Active Trader programme is open only to select Pro clients, with rebate rates and volume thresholds that Pepperstone does not publish. Pepperstone has held AFSL 414530 since 2013. I would look at that rebate route if you trade above 500 lots a month.
Pros & Cons
Pros
- Razor account at A$3.50 per side (A$7.00 round-turn)
- Highest-rated broker in the A$3.50 tie group
- Razor pricing across MT4, MT5, cTrader and TradingView
Cons
- Commission above the Fusion, Vantage and GO tier
- All-in cost depends on the raw spread on the day
- Best value once you weigh execution alongside cost
Eightcap at A$3.50 per side on Raw
All-in cost per lot
A$8.46 (EUR/USD 0.10 pips, Raw, measured October 2026, plus A$7.00 round turn)
Trading platforms
mt4, mt5, tradingview
Minimum deposit
A$100
Regulation
ASIC AFSL 391441
Why We Recommend Eightcap
Eightcap sits in the A$3.50 per side tie group at A$7.00 round turn on the Raw account. I'd weigh it the way I weigh every raw-spread broker: on the all-in number, not the headline. In our October 2026 capture, which Noam Korbl ran across the full trading month, it averaged 0.51 pips across the eight-pair basket with EUR/USD at 0.10 pips. Its advertised EUR/USD spread is from 0.0 pips, which is a floor, not a measurement, so don't let that figure drive your choice. On that basis its all-in cost prices EUR/USD at the measured 0.10 pip spread plus the A$7.00 round turn, at about A$8.46 for a standard lot. Eightcap has operated under AFSL 391441 since 2011 and runs MT4, MT5, TradingView and TradeLocker. It ranks joint third in the A$3.50 per side group on EUR/USD all-in cost: our October 2026 capture put it at 0.59 pips, behind Global Prime and FP Markets at 0.57, and that all-in figure is the one you can check against the table. What keeps it in the conversation for me is native TradingView and a range of more than 250 crypto CFDs, and if your trading happens on TradingView charts, that native support is worth having alongside the all-in number.
Pros & Cons
Pros
- Raw account at A$3.50 per side (A$7.00 round-turn)
- Eight-pair raw average of 0.51 pips in our October 2026 capture
- EUR/USD average of 0.10 pips in our October 2026 capture
Cons
- Commission above the sub-A$7 leaders
- Raw EUR/USD spread measured at 0.10 pips in our October 2026 capture
- Smaller brand than the incumbent names
IC Markets at A$4.50 per side
IC Markets is the dearest on commission at A$4.50 per side (A$9.00 round turn) on the Raw Spread account, but its 0.31 pip eight-pair average was fourth of the 12 raw accounts in our October 2026 capture, with EUR/USD at 0.10 pips; Fusion Markets was tightest. On heavily traded pairs that comparatively tight spread can claw back some of the higher commission, so the all-in cost near A$10.46 at the 11 November 2026 close is the EUR/USD figure, and other pairs differ. IC Markets has held AFSL 335692 since 2009 and runs MT4, MT5 and cTrader. I would treat IC Markets as a spread-led choice, and you need the pair-specific all-in cost before judging it.
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 you A$7.00 round-turn on a standard lot. Always check which figure a broker is quoting, because comparing per-side against round-turn makes one look twice as cheap as it really is. I would always want the round-turn figure shown beside the per-side quote.
Why near-zero spread plus commission can beat zero-commission accounts
Active traders will find a raw account pairs a near-zero spread with a fixed commission and usually works out cheaper all-in, because the spread saving over many trades outweighs the commission. A standard account folds the cost into a wider spread with no commission line. For occasional traders, a tight standard account can be similar without the commission maths. I would choose the raw account for active volume, and the maths shifts further in your favour as trade count grows.
Commission versus spread cost in pips
Judging a broker on commission alone misleads you. A broker with the cheapest commission but a wider spread can be dearer all-in than one with a tighter spread and a higher commission. That’s why every row in our comparison table shows both numbers, and the all-in cost column adds them up. I keep the all-in column central for exactly that reason. The spreads come from our October 2026 capture on our London VPS servers, which Noam Korbl ran across the full trading month, with rows it did not measure labelled by their own window.
If you want the spread-led view of the same accounts, see lowest spread forex brokers. The accounts in that table are RAW accounts, raw spread plus commission, at ACY Securities, Fusion Markets, Axi, Vantage, GO Markets, Pepperstone, Eightcap, ThinkMarkets, Global Prime and FP Markets. Global Prime’s commission account is named “ECN” by the broker, but its PDS dated 20 February 2024 says it makes a market, sets its own prices from dealings with its Hedge Counterparties and hedges with that counterparty, so we label it RAW rather than ECN, STP or NDD. For how we rank these accounts and what the pricing means for you, read ECN forex brokers. To total spread and commission for your own volume, our trading calculators include a broker cost calculator alongside margin and pip value tools.
A commission in dollars and a spread in pips aren’t directly comparable until you convert one into the other. The card below takes Pepperstone’s Razor pricing, its measured EUR/USD spread with the A$7.00 round turn, and shows what that commission is worth in pips: the figure a no-commission account has to beat.
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, once at entry and once at exit.
- Inactivity fees after a dormant period (varies, typically 6 to 12 months).
- Withdrawal fees on some methods, especially international wire.
One small commission difference can be wiped out by a high conversion margin or a monthly inactivity fee, so I recommend checking each broker’s full schedule, not just the headline number. To see the all-in figure for your own trade volume, run the numbers through our broker cost calculator.
AUD-base accounts and currency-conversion cost
For Australian traders, an AUD-base account avoids conversion on AUD pairs and on the commission itself, which usually beats a USD-base account. In my view that usually-beats relationship is worth confirming before you open the account, so I’d run the conversion myself rather than trust the headline currency. Where a broker quotes only USD commission, convert to AUD at the current rate to compare. Our commission column in the table above is AUD; some brokers’ marketing pages still show USD, so I would check the currency before you compare.
Forex commission FAQs
What is the lowest forex commission in Australia?
What is the difference between per-side and round-turn commission?
Is a commission account cheaper than a zero-commission account?
What is the all-in cost of a forex trade?
Why does IC Markets charge more commission but still rank well overall?
Are there fees beyond spread and commission?
Which forex broker has the lowest fees in Australia?
Commission and ECN broker guides
- Lowest spread forex brokers in Australia
Where several brokers share a per-side fee, the spread ranking breaks the tie with raw averages and all-in cost once commission is added.
- ECN forex brokers in Australia
Raw accounts price a near-zero spread plus commission, and the ECN ranking converts that commission to pips for an all-in cost comparison.
- Best fixed spread forex brokers in Australia
Commission-based raw pricing is the common alternative, and the fixed spread comparison shows the ASIC brokers that publish genuine fixed quotes instead.
- Best forex brokers in Australia
All-in cost combines commission with measured spreads, and the forex broker ranking compares that figure alongside platforms across the reviewed brokers.
About Justin Grossbard
Justin co-founded CompareForexBrokers in 2014 and has traded forex since 1998. Based in Melbourne, he leads the site's research, and has written for Forbes, Kiplinger and Finance Magnates, while the Australian Financial Review has cited CompareForexBrokers research. He holds a Bachelor of Commerce (Honours) and a Master of Marketing from Monash University. Justin is the co-founder and CEO of CompareForexBrokers.