Quick verdict: scalping platforms and brokers in Australia
Fusion Markets is my pick for the best scalping broker in Australia. Its Zero account gives you EUR/USD at 0.33 pips all-in in our September 2026 capture on a A$4.50 round turn, Axi matches that commission and sits close behind at 0.35 pips, and GO Markets takes third at 0.52 pips. The four brokers outside that capture follow, labelled as outside it.
- Fusion Markets: first, 0.33 pips all-in, A$4.50 round-turn.
- Axi: second at 0.35 pips all-in, EA-friendly MT4 scalping with free VPS.
- GO Markets: third on September 2026 all-in at 0.52 pips.
- Global Prime: per-trade receipts showing each fill's slippage.
- IC Markets: fifth on September 2026 all-in at 0.75 pips.
- FP Markets: share-CFD scalping through IRESS.
- Pepperstone: seventh, outside the September 2026 capture, native cTrader and Razor commission of A$3.50 per side.
- Eightcap: stable MT5 build for tick scalping.
- Vantage: A$2.50 per side with scalping permitted.
- TMGM: Sydney-based Edge account, advertised pricing.
Three things carry this ranking: all-in cost, execution venue and the PDS scalping clause. Each is verifiable, and each is in the table, so you can check my work.
The brokers above all run ECN-style or STP execution and don’t restrict scalping in their PDS. Most market-maker platforms can technically be scalped but several have explicit clauses that flag or restrict the practice. I’d read the PDS before you commit. For the overall market beyond scalping, our guide to the highest-rated forex brokers in Australia ranks every ASIC broker we cover.
ASIC’s ASIC’s Product Intervention Order caps retail leverage at 30:1 on major forex pairs, which I’d call the binding constraint for scalpers, so your position sizing has to fit within that ceiling. Our guide to ASIC regulation sets out the full leverage ladder. Wholesale clients can request higher.
Comparison table: AU brokers for scalping
| Broker | Account | EUR/USD typical (incl. commission) | Round-turn commission | Min deposit | Platforms | AFSL |
|---|---|---|---|---|---|---|
| Fusion Markets | Zero | 0.33 pips | AUD 4.50 per std lot | $0 | MT4, MT5, cTrader, TradingView | 385620 |
| Axi | Pro | 0.35 pips | AUD 4.50 per std lot | $0 | MT4 | 318232 |
| GO Markets | GO Plus+ | 0.52 pips | AUD 6 per std lot | $200 | MT4, MT5, cTrader, TradingView, GO TradeX | 254963 |
| Global Prime | Raw | 0.58 pips | AUD 7 per std lot | $0 | MT4, MT5, TradingView | 385620 |
| IC Markets | Raw Spread | 0.75 pips | AUD 9 per std lot | $200 | MT4, MT5, cTrader | 335692 |
| FP Markets | Raw | 0.80 pips | AUD 7 per std lot | $100 | MT4, MT5, cTrader, TradingView, IRESS | 286354 |
| Pepperstone | Razor | 0.52 pips (not in September 2026 capture) | AUD 7 per std lot | $0 | MT4, MT5, cTrader, TradingView | 414530 |
| Eightcap | Raw | Not measured | AUD 7 per std lot | $100 | MT4, MT5, TradingView | 391441 |
| Vantage | RAW Classic | 0.51 pips (not in September 2026 capture) | AUD 5 per std lot | $50 | MT4, MT5, TradingView, Vantage App | 428901 |
| TMGM | Edge | Not measured | US$7 per std lot | $100 | MT4, MT5, TMGM App | 436416 |
Watch: Best forex brokers for scalping.
All ten brokers hold an AFSL, are members of AFCA, and operate ECN or STP execution. None restrict scalping in their current PDS as of June 2026, so you won’t run into a policy surprise after funding. Fusion Markets and Global Prime are separate brands of the same licensee, FMGP Trading Group Pty Ltd (ABN 74 146 086 017), which is why AFSL 385620 appears twice in the table. ASIC’s Product Intervention Order applies uniformly across all ten.
Risk warning: CFDs are leveraged products and carry a high risk of loss. Most retail CFD accounts lose money. Review the broker's PDS and TMD before trading.
1. Fusion Markets: the lowest all-in cost at 0.33 pips
Fusion Markets shares the lowest commission on this page with Axi at A$4.50 round turn (A$2.25 per side), and I'd say that matters more to scalpers than to anyone else, since commission is a bigger share of total cost when trades last minutes rather than days. It also carries the lowest all-in cost on the page, 0.33 pips on EUR/USD in our September 2026 capture. EUR/USD raw spreads averaged 0.01 pips and the eight-pair basket 0.09 pips in the same capture. MT4, MT5, cTrader and TradingView all connect to the Zero account, and there is no minimum deposit or inactivity fee. Fusion has traded under ASIC AFSL 385620 since its 2017 launch; the FMGP Trading Group licence dates to 2011. If your edge is a fraction of a pip, the A$4.50 round turn is the number that keeps you in the game longer than a A$9.00 commission would.
Average spread
EUR/USD = 0.0
GBP/USD = 0.2
AUD/USD = 0.1
Trading platforms
MT4, MT5, cTrader, TradingView
Minimum deposit
A$0
Regulation
ASIC AFSL 385620
Pros & Cons
- ASIC AFSL 385620 since founding; Melbourne head office; founder Phil Horner is ex-Pepperstone
- Zero account commission of AUD 4.50 round-turn is joint second-lowest with Axi among the ASIC brokers we cover, behind ACY Securities at AUD 3.00
- EUR/USD spreads from 0.0 pips on the Zero account
- Smaller broker by trading volume and brand profile than IC Markets, Pepperstone, CMC and IG
- Research and education library thinner than the larger brokers
- Share CFD range narrower than CMC, IG or Interactive Brokers
Broker's Detail
Melbourne-founded in 2017 (AFSL 385620), Fusion Markets matches Axi on commission at A$4.50 round turn, the lowest figure on this page's shortlist. I'd call the Zero account the one to use for scalping: it pairs EUR/USD spreads from 0.0 pips with AUD 4.50 round-turn per standard lot.
Platforms supported are MT4, MT5, cTrader and TradingView. The product range is narrower than the multi-asset brokers (forex-focused with selective indices and commodities), which is why active forex traders cluster here, and if you trade mostly EUR/USD and AUD/USD that narrower range is not a cost; it is just not a distraction.
$0 minimum deposit with fee-free AU funding via PayID, BPAY, card and bank transfer, so you can open an account without tying up capital upfront. Retail leverage capped at ASIC's maximum on major pairs. AFCA dispute coverage and negative balance protection standard. Customer support runs 24/5.
2. Axi: EA-friendly scalping on a specialist MT4 build
Axi suits the MT4-native scalper: the Australian entity is built around MetaTrader 4 with one-click trading and full EA support, and if you live inside MT4 with no plans to leave, that optimised build is a genuine advantage rather than a marketing line. Pro account pricing measured 0.03 pips on EUR/USD and 0.18 pips across eight majors, third of the eleven raw accounts in our September 2026 capture. Commission is A$4.50 round turn per standard lot, free VPS covers volume-qualifying clients, and there is no minimum deposit. The 0.18 pip eight-pair basket is the number that matters to a scalper, and the A$4.50 round turn keeps the all-in cost competitive. Axi has operated under AFSL 318232 since 2007.
Average spread
EUR/USD = 0.03
8-pair avg = 0.18
Trading platforms
MT4
Minimum deposit
A$200
Regulation
ASIC AFSL 318232
Why higher here? Platform Fit here is about scalping. Axi runs an EA-friendly specialist MT4 build with a 0.18-pip eight-pair raw average in our September 2026 capture at A$4.50 round turn, the third-tightest of the eleven raw accounts we measured, which lifts it above its #26 sitewide position. See the ranking method ↓
Pros & Cons
- ASIC AFSL 318232 since 2007; Sydney head office
- Historically one of the most EA-friendly AU brokers, with full expert-advisor support and free VPS at volume thresholds
- Pro account EUR/USD from 0.0 pips raw plus A$4.50 round-turn commission, a 0.18 pip eight-pair average
- No cTrader on the ASIC entity, though both MT4 and MT5 run there
- Its 0.18 pip eight-pair average trails Fusion Markets (0.09) and Global Prime (0.16) in the September 2026 capture
- Site-wide rank #27 of 32; the scalping case rests on cost and EA tolerance, not platform breadth
Broker's Detail
Founded in Sydney and licensed under AFSL 318232 since 2007, Axi built its reputation on a heavily optimised MetaTrader 4 environment aimed at expert-advisor and high-frequency traders. The Pro account pairs EUR/USD raw spreads averaging 0.03 pips with A$4.50 round-turn commission, so your cost is competitive, and our September 2026 capture recorded a 0.18 pip eight-pair raw average.
Expert-advisor use is unrestricted, and free VPS access opens up once trading volume passes the broker's threshold, which I'd call a key perk for automated scalping. The minimum deposit is $0, though Axi recommends around USD 200 to trade the Pro account comfortably.
Retail leverage is capped at ASIC's maximum on major pairs, with AFCA dispute coverage and negative balance protection standard. The trade-off for the specialist MT4 focus is the absence of MT5 and cTrader on the Australian entity, so your platform choice is limited to MT4.
3. GO Markets: third on September 2026 all-in cost
GO Markets prices the GO Plus+ account at A$3.00 per side (A$6.00 round turn), one of the lower commissions here, so your all-in cost stays competitive, with EUR/USD measured at 0.09 pips and the eight-pair average at 0.31 pips in our September 2026 capture. Free VPS hosting supports automated scalping, MT4 carries full EA support, and cTrader and TradingView extend the platform choice for traders who scalp from depth-of-market or charts. Support runs 24/5 in English, Mandarin, Arabic and Vietnamese. Melbourne-based GO Markets has operated under AFSL 254963. The A$6.00 round turn is the number I would circle for a scalper who wants a cost advantage but does not want to trade with the smallest broker on the list.
Average spread
EUR/USD = 0.09
8-pair avg = 0.31
Trading platforms
MT4, MT5, cTrader, TradingView, GO TradeX
Minimum deposit
A$200
Regulation
ASIC AFSL 254963
Why higher here? Scalping Fit weights execution quality and all-in cost at scalping pace, which lifts GO Markets above its #12 sitewide position. See the ranking method ↓
Pros & Cons
- ASIC AFSL 254963, a long-running Australian licence
- GO Plus+ EUR/USD at 0.09 pips average plus A$6.00 round-turn, 0.52 pips all-in in September 2026
- Five platforms (MT4, MT5, cTrader, TradingView, GO TradeX) plus free VPS for active traders
- $200 minimum deposit, above the $0 brokers on this list
- Site-wide rank #12 of 32 keeps it outside the overall leaders
- Standard account spreads run wider than the GO Plus+ account; choose GO Plus+ for active scalping
Broker's Detail
Melbourne-founded and licensed under AFSL 254963, GO Markets is one of the longer-established ASIC brokers on this shortlist. The GO Plus+ account pairs EUR/USD raw spreads averaging 0.09 pips with A$6.00 round-turn commission, and our September 2026 capture logged a 0.31 pip eight-pair raw average and an all-in cost I'd call attractive at 0.81 pips across the eight-pair basket.
Platform choice is the widest of any broker added to this page: MT4, MT5, cTrader, TradingView and the GO TradeX app, so you can pick the terminal that fits your workflow. Active traders can access free VPS, and the PDS explicitly permits scalping.
Deposits start at $200, higher than the $0 accounts elsewhere on this list, though I'd say it's still a manageable entry point. Retail leverage is capped at ASIC's maximum on major pairs, with AFCA dispute coverage and negative balance protection standard.
4. Global Prime: per-trade receipts you can check
Global Prime explicitly allows scalping, along with EAs and hedging, on its MT4 and MT5 platforms, and it is the only broker here publishing anonymised execution receipts, which I value more than I can easily price: when a fill looks wrong, you can check the venue, timestamp and price yourself instead of taking support's word. Raw pricing measured 0.08 pips on EUR/USD and 0.16 pips across eight majors in our September 2026 capture, with commission at A$3.50 per side (A$7.00 round turn) and no inactivity fee. Global Prime operates under AFSL 385620, the same FMGP Trading Group licence as Fusion Markets; the two run as separate brands.
Average spread
EUR/USD = 0.0
GBP/USD = 0.2
AUD/USD = 0.1
Trading platforms
MT4, MT5, TradingView
Minimum deposit
A$0
Regulation
ASIC AFSL 385620
Why higher here? Platform Fit here is about scalping, where fill honesty matters more than anything. Global Prime's per-trade receipts answer that directly, which lifts it well above its #28 sitewide position. No cTrader depth of market is the trade-off. See the ranking method ↓
Pros & Cons
- ASIC AFSL 385620 since 2011 (held by FMGP Trading Group Pty Ltd, trading as Global Prime)
- Public trade receipts and bank quote sourcing, unique among AU retail brokers
- Raw account EUR/USD spreads from 0.0 pips, AUD 7 round-turn commission
- Smaller brand and narrower product range than CMC, IG or Pepperstone
- No proprietary platform; the stack is MT4, MT5 and TradingView only
- No direct ASX share investing
Broker's Detail
Founded in 2010 and operating from Sydney under AFSL 385620, Global Prime is best known for publishing execution reports per trade, which I'd call unusual in the AU market and a useful transparency check for active traders.
The ECN account pairs EUR/USD spreads from 0.0 pips with AUD 7 round-turn commission, so your cost is predictable. The Standard account is commission-free, around 0.9 to 1.2 pips on EUR/USD. Platforms supported are MT4, MT5 and TradingView.
I'd call the $0 minimum deposit a low barrier, with fee-free AU funding via PayID, BPAY and card. Retail leverage capped at ASIC's maximum on major pairs. AFCA dispute coverage and negative balance protection standard.
Global Prime spread table (September 2026 SpreadLogger capture window):
| Pair | Raw avg spread (pips) | + commission equivalent | Total cost |
|---|---|---|---|
| EUR/USD | 0.08 | 0.50 | 0.58 |
| AUD/USD | 0.08 | 0.50 | 0.58 |
| GBP/USD | 0.09 | 0.50 | 0.59 |
| USD/JPY | 0.14 | 0.78 | 0.92 |
| EUR/GBP | 0.18 | 0.37 | 0.55 |
5. IC Markets: raw pricing with no scalping restriction
IC Markets sits on this page for costs rather than fills: we hold no execution speed or slippage measurement for the broker, so its place rests on the measured cost figures that follow. Raw Spread EUR/USD averaged 0.11 pips raw in our September 2026 capture, which lands the account fifth on this page at 0.75 pips all-in. The PDS dated 25 September 2026 sets no scalping restriction, but the Account Terms are a different matter: clause 12.9 requires IC Markets' prior written consent for high speed or automated mass data entry, and black box trading and high frequency trading are Prohibited Conduct under those terms. See IC Markets' automated trading terms. Commission on MT4 and MT5 is A$4.50 per side (A$9.00 round turn), while the cTrader account bills US$3.00 per US$100,000 traded per side, converted to your base currency. IC Markets has held ASIC AFSL 335692 since 2009.
Average spread
EUR/USD = 0.0
GBP/USD = 0.2
AUD/USD = 0.1
Trading platforms
MT4, MT5, cTrader, TradingView
Minimum deposit
A$200
Regulation
ASIC AFSL 335692
Pros & Cons
- ASIC AFSL 335692 since 2009; founded in Sydney
- Raw Spread account with EUR/USD spreads from 0.0 pips and AUD 9 round-turn per lot
- True ECN/cTrader connectivity with deep liquidity from 25+ Tier-1 banks and dark pools
- $200 minimum deposit (vs $0 at Pepperstone, CMC, IG, Fusion)
- No native TradingView integration on the AU entity
- Share CFD range narrower than CMC, IG, IBKR
Broker's Detail
Founded in Sydney in 2007, IC Markets is one of Australia's longest-running ECN brokers and has held AFSL 335692 since 2009. The Raw Spread account delivers EUR/USD spreads from 0.0 pips with AUD 9 round-turn commission, while the cTrader RAW account bills USD 3.00 per USD 100,000 traded per side, converted to your account currency. The Standard account is commission-free with spreads from 1.0 pips, but for a scalper it is the wrong tool: you would be paying the spread instead of the commission, and the spread moves.
Liquidity is sourced from 25+ Tier-1 banks and dark pools, and I'd call that true ECN execution, which suits scalpers and EA traders because your orders aren't sitting on a dealer's book. Platforms supported are MT4, MT5 and cTrader. 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, so you'll need to commit more capital upfront. AUD funding via PayID, BPAY and card is fee-free. Retail leverage capped at ASIC's maximum on major pairs, with AFCA dispute coverage and negative balance protection.
IC Markets spread table (averaged over our September 2026 test cycle):
| Pair | Raw Spread avg (pips) | + commission equivalent | Total cost |
|---|---|---|---|
| EUR/USD | 0.11 | 0.64 | 0.75 |
| AUD/USD | 0.09 | 0.64 | 0.73 |
| GBP/USD | 0.24 | 0.64 | 0.88 |
| USD/JPY | 0.15 | 1.01 | 1.16 |
| AUD/JPY | 0.41 | 1.01 | 1.42 |
6. FP Markets: full platform mix with scalping permitted
FP Markets gives scalpers Raw pricing of A$3.50 per side with EUR/USD measured at 0.30 pips in our September 2026 capture, spread across MT4, MT5 and cTrader, where billing runs at US$3.00 per side instead. The 30-day renewable demo covers MT4, MT5, cTrader and TradingView, which I’d call a practical way to test a scalping approach before funding, and live chat answered in under 90 seconds in our testing, useful when an execution query cannot wait. First Prudential Markets has held ASIC AFSL 286354 since 2005.
7. Pepperstone: four scalping platforms on one account
Pepperstone was not in our September 2026 capture, which is why it sits below the six brokers that capture measured on this page, and I'd still call platform choice its strongest card. Razor commission is A$3.50 per side, EUR/USD raw spreads averaged 0.10 pips in the May to June 2026 window, and scalpers can run the account on MT4, MT5, cTrader or TradingView. Free VPS is available for active traders meeting volume thresholds, trimming the round trip that Australian-based scalpers otherwise carry to LD4. Pepperstone has held ASIC AFSL 414530 since 2013. This page holds no execution speed measurement for Pepperstone, so its place here rests on its costs and platform range.
Average spread
EUR/USD = 0.1
GBP/USD = 0.2
AUD/USD = 0.1
Trading platforms
MT4, MT5, cTrader, TradingView, Pepperstone Trading App
Minimum deposit
A$0
Regulation
ASIC AFSL 414530
Why lower here? This page ranks on September 2026 all-in cost and Pepperstone was not in that capture. See the ranking method ↓
Pros & Cons
- ASIC AFSL 414530 since 2013; founded in Melbourne in 2010 with continuing Australian operations
- Razor RAW account with EUR/USD spreads from 0.0 pips and AUD 7 round-turn per lot
- Five trading platform options (MT4, MT5, cTrader, TradingView, Pepperstone Platform)
- Share CFD range narrower than CMC, IG, IBKR (around 1,200 vs 10,000+ at CMC)
- No native ASX share investing (CFD only)
- Standard account spreads less competitive than the Razor account; choose Razor if you trade actively
Broker's Detail
Founded in Melbourne in 2010, Pepperstone is one of Australia's largest forex brokers and has held ASIC AFSL 414530 since 2013. It also holds Tier-1 licences with the FCA (UK), BaFin (Germany), CySEC (Cyprus), CMA (Kenya) and DFSA (Dubai), so your funds are covered by multiple regulatory schemes.
Two main account types are offered. I'd point a scalper straight to the Razor (RAW) account, which pairs EUR/USD spreads from 0.0 pips with AUD 7 round-turn commission per standard lot, because the Standard account's spread would eat into your edge. 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, and TradingView is available on the Razor account only, not on Standard.
Funding is fee-free via PayID, BPAY, card and PayPal, so you can move money in and out without cost. AUD-denominated accounts available. Retail leverage capped at ASIC's maximum 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 May to June 2026 test cycle):
| Pair | Razor avg spread (pips) | + commission equivalent | Total cost |
|---|---|---|---|
| EUR/USD | 0.10 | 0.45 | 0.55 |
| AUD/USD | 0.10 | 0.45 | 0.55 |
| GBP/USD | 0.20 | 0.45 | 0.65 |
| USD/JPY | 0.10 | 0.45 | 0.55 |
| EUR/GBP | 0.30 | 0.45 | 0.75 |
8. Eightcap: raw pricing measured in May to June 2026
Eightcap’s cost case rests on its eight-pair raw average of 0.15 pips in our May to June 2026 capture, a figure that keeps your entry cost down across the majors a scalper actually trades, with EUR/USD not measured in that window. Commission is A$3.50 per side (A$7.00 round turn), and free VPS hosting plus the FlashTrader add-on suit scalpers who automate their entries. Platforms cover MT4, MT5, native TradingView and TradeLocker, and the Raw account carries a AUD 100 minimum deposit, so testing the pricing does not need much capital. Melbourne-founded Eightcap has operated under AFSL 391441 since 2011. That 0.15 pip basket figure is the number I would point a scalper to, and it keeps Eightcap on this shortlist on the measure that scalpers care about most.
9. Vantage: scalping permitted with the broadest funding menu
Vantage runs RAW pricing at A$2.50 per side (A$5.00 round turn), the third-lowest commission on this page behind Fusion Markets and Axi at A$4.50, with spreads measured at 0.18 pips on EUR/USD and 0.52 pips across eight majors in our May to June 2026 capture. MT4 and MT5 share the RAW engine, with native TradingView on the Standard and Raw Classic accounts. A watch-out I'd highlight for scalpers who trade in bursts: the USD 25 monthly inactivity fee starts after just 90 days of dormancy. Vantage has operated under AFSL 428901 since 2012. The commission is low, and its measured spreads are from May to June 2026, but the inactivity fee means you cannot park the account between opportunities without it costing you.
Average spread
EUR/USD = 0.18
8-pair avg = 0.52
Trading platforms
MT4, MT5, TradingView, Vantage App
Minimum deposit
A$50
Regulation
ASIC AFSL 428901
Why higher here? Scalping Fit weights execution quality and all-in cost at scalping pace, which lifts Vantage above its #24 sitewide position. See the ranking method ↓
Pros & Cons
- ASIC AFSL 428901, with scalping permitted under the PDS
- Fee-free PayID, BPAY, PayPal and Apple Pay funding for fast capital cycling
- RAW Classic account EUR/USD from 0.18 pips measured plus AUD 5.00 round turn (AUD 2.50 per side)
- USD 25 per month inactivity fee applies after 90 days without a trade
- 0.52 pip eight-pair average is from May to June 2026, before the September 2026 capture
- Copy trading is not available to Australian retail clients (offshore entities only)
Broker's Detail
Vantage runs its RAW ECN account under AFSL 428901, with scalping permitted under the PDS. Our May to June 2026 spread capture measured EUR/USD at 0.18 pips of raw spread, and the eight-pair raw average came in at 0.52 pips. Commission is AUD 2.50 per side, or AUD 5.00 round turn, quoted in AUD on the AU site, so the per-lot cost sits in local currency without a conversion step.
For high-frequency traders, I'd call the funding rails a practical edge: fee-free PayID, BPAY, PayPal and Apple Pay deposits mean capital can be cycled quickly without fees. You'll find MT4, MT5, TradingView and the Vantage App, though cTrader is not available on the Australian entity.
The minimum deposit is $50, but a USD 25 monthly inactivity fee applies after 90 days without a trade, so you'll want to stay active to avoid the fee. That holding cost is something the cheaper-to-park brokers on this list avoid, so I'd only park funds here if trading regularly.
10. TMGM: Sydney-based Edge account
TMGM is the Sydney-headquartered option, running the Edge account with spreads advertised from 0.0 pips and commission at US$3.50 per side. Because we haven't benchmarked TMGM's raw pricing in our spread capture, I'd treat those figures as the broker's own rather than measured. You'll find MT4 and MT5 both carry Edge pricing, the demo renews on a 30-day cycle, and 24/7 support in English, Mandarin, Cantonese, Vietnamese and Thai answered live chat in under 90 seconds in our testing. Trademax Australia has operated under AFSL 436416 since 2013.
Average spread
Edge advertised from 0.0 pips (not benchmarked)
Trading platforms
MT4, MT5
Minimum deposit
A$100
Regulation
ASIC AFSL 436416
Why higher here? Scalping Fit weights execution quality and all-in cost at scalping pace, which lifts TMGM above its #25 sitewide position. See the ranking method ↓
Pros & Cons
- ASIC AFSL 436416 since 2013, Sydney-founded with continuing AU operations
- Edge account with EUR/USD spreads from 0.0 pips and US$7.00 round-turn commission (charged in USD)
- MT4, MT5 and the TMGM App available on a single onboarding flow
- Brand recognition lower than Pepperstone, IC Markets or CMC in mainstream AU media
- Inactivity fee of USD 10 per month after 12 months dormant
- Offshore VFSC (Vanuatu) and Mauritius entities used for higher-leverage wholesale clients sit at the lower-trust end of the regulatory spectrum
Broker's Detail
Trademax Australia Limited has held ASIC AFSL 436416 since 2013, and TMGM's Edge account is the one I'd point scalpers to: spreads advertised from 0.0 pips with US$3.50 per side per standard lot, on MT4 or MT5. Because TMGM sits outside our May and June 2026 raw-spread capture, we quote its advertised pricing rather than a measured average; for context, its Classic account measured 1.20 pips on EUR/USD in our standard-account testing. Funding rails are a practical plus for high-turnover traders, with PayID, BPAY, cards and bank transfer mostly fee-free and same-day or instant. Support runs 24/7 in five languages, with live chat under 90 seconds in our tests, and a 30-day renewable demo covers both platforms, so you can test the pricing before committing real money.
Scalping cost example: what 0.5 pips actually costs
Worked example to make the cost real.
Assume:
- 100 round-turn standard lots per day on EUR/USD
- 0.5 pips average total cost per round-turn (spread plus commission, equivalent)
- AUD 15.15 per pip on a standard lot at AUDUSD 0.66
Daily cost = 100 lots x 0.5 pips x AUD 15.15 = AUD 758/day
I’d call that the hurdle your trade must clear before any profit. Over a 20-trading-day month, that’s AUD 15,150 in total cost. Over a year of 240 trading days, it’s AUD 181,800.
On a Standard account with a 1.0 pip spread, you’d pay AUD 1,515 per day, AUD 30,300 per month, AUD 363,600 per year. I’d say that cost gap is why ECN/RAW accounts dominate the AU scalping market.
Run this maths against your own expected volume before picking a broker. Once you cross 50 lots a day, the AUD 4.50 vs AUD 7 commission difference between Fusion Markets and Axi on one side and the rest on the other also matters.
At scalping volume, the per-lot difference compounds fast, which is why the card below defaults to 50 standard lots a month instead of the usual ten. The figures are account-level. If a broker prices its terminals differently, the card shows the account rate named, so confirm the commission for the terminal you actually open.
Platform features that matter for scalping
The platform is more than a viewer. In my view, these features directly change the trade outcome.
One-click trading. MT4 and MT5 both offer one-click trading once enabled. cTrader has it on by default. Without it, every trade requires a confirmation dialog that adds 200 to 500ms, and that delay can cost you the entry.
Level-2 market depth. cTrader and TradingView both display level-2 depth. MT4 doesn’t natively, but plugins can add it. Depth shows you whether the next 5 pips of price have liquidity behind them or are about to gap. For a scalper holding for 30 seconds, that’s more useful than any indicator.
Tick charts. MT5 has them; MT4 doesn’t natively. Tick charts plot a new bar every N transactions instead of every N minutes, so your chart refreshes at the pace of actual trades, which fits the speed of a scalp better than a 1-minute time chart.
Custom order types. OCO (one-cancels-other) lets you set a take-profit and stop-loss simultaneously, with one cancelling the other when filled. Trailing stops keep the stop a fixed distance behind a winning move. Most AU brokers offer both on MT4, MT5 and cTrader.
Latency monitoring. Some platforms display your ping to the broker server. cTrader has it built in. MT4 and MT5 show it via plugin. Once your ping climbs above 100ms, fills degrade.
VPS and execution latency
For active scalpers, a virtual private server (VPS) cross-connected to the broker’s data centre is standard equipment, so your orders don’t travel across the public internet. I’d consider it essential for any serious scalping setup. Here’s the setup:
- Your trading PC at home runs a remote desktop session into a VPS in the same data centre as your broker
- The VPS executes your orders directly into the broker’s matching engine with sub-millisecond latency
- Your home internet connection is no longer in the trade execution path
Most AU ECN brokers run their primary matching engines in Equinix LD4 (London) and NY4 (New York). For EUR/USD, GBP/USD and most major-pair scalping, LD4 is the right choice because the bulk of liquidity sits in the European time zone.
Several AU brokers offer subsidised or free VPS access to active traders. Common thresholds:
- Pepperstone: free VPS on the Active Trader tier, around 100 round-turn lots per month
- IC Markets: free VPS at AUD 5,000 balance with 5 or more standard lots per month
- FP Markets: paid VPS, sometimes waived at higher volume tiers
If you’re below those volume thresholds, a third-party VPS provider in LD4 typically costs USD 30 to USD 80 per month depending on specs.
Why platform and broker matter more for scalpers
A scalp typically targets between 3 and 15 pips of profit. The round-turn cost (spread plus commission) is the first thing your trade has to clear before any profit appears. Three numbers drive scalping economics:
Cost per round-turn lot. On a Pepperstone Razor account, EUR/USD typically prints at 0.0 to 0.2 pips raw spread plus AUD 7 round-turn commission, equivalent to around 0.56 pips total at AUDUSD 0.66 (IC Markets Raw is comparable on spread but charges AUD 9.00 round turn, about 0.59 pips). On a Standard account at the same brokers, the spread alone is 1.0 to 1.4 pips. That’s roughly a 2x cost difference for the same trade. If you’re scalping 50 to 200 round-turn lots a day, I’d say that gap decides whether your month finishes profitable or flat.
Execution speed. Slow execution turns a 0.5 pip win into a 0.5 pip loss. AU brokers that cross-connect to London-LD4 (their matching engine sitting in the same Equinix LD4 data centre as major liquidity providers) can deliver execution latency under 30ms, so your fills don’t slip. Brokers running Asia-only servers can be 200ms or more from European liquidity. At scalping speeds, that difference is everything, and I’d want my broker in LD4.
Slippage on stops. A scalper’s worst trade is a 5-pip win turning into a 15-pip stop-out because the broker filled the stop 10 pips off the mark during a fast market. Global Prime publishes a receipt for each trade that shows any slippage on the fill, so you can check the number yourself. Most brokers publish nothing at that level, so before funding I’d ask a broker what fill and slippage data it will give you.
Once a week, none of this matters. Fifty times a day, all of it does.
Scalping policies: what AU broker PDSs say
AU brokers fall into three categories on scalping policy:
Explicitly permits scalping (no restriction): IC Markets, Pepperstone, Fusion Markets, Global Prime, Eightcap, FP Markets, ThinkMarkets, ACY Securities. Axi, GO Markets and Vantage also permit it and now hold ranked panels above. These are typically ECN or STP execution models where the broker passes flow to liquidity providers and isn’t financially exposed to short-holding-period trades, so they have no reason to restrict you.
Permits but with monitoring: CMC Markets, IG Markets, OANDA. These are larger market-maker hybrids that don’t restrict scalping in the PDS but reserve the right to review accounts showing patterns inconsistent with the broker’s risk model. In practice, retail scalpers don’t typically trigger reviews, so you’re unlikely to hit a problem.
Has historic restrictions (check the current PDS): Some smaller market-maker brokers still retain language in their PDS reserving the right to cancel trades held under a minimum duration, or to charge for “abusive” trading patterns. Before opening an account, read the PDS specifically for “minimum holding period” and “trading pattern” clauses if you plan to scalp.
The simple rule: stick to the explicit-permit category for serious scalping. ECN brokers have no financial reason to restrict you. Read the order execution policy section of the PDS, not just the marketing material.
ASIC PIO context for scalpers
As a retail scalper, you’re subject to ASIC’s Product Intervention Order in exactly the same way as any other retail CFD trader.
- Retail leverage caps on every asset class, from major forex pairs down to crypto CFDs
- Negative balance protection mandatory
- Margin close-out at 50% of initial margin
- No bonuses or inducements
For most scalpers, the binding constraint is the major-pair leverage cap, and that’s sufficient for typical scalping position sizes. With AUD 10,000 of margin, you can hold notional EUR/USD exposure of AUD 300,000, about 3 standard lots. That’s fine for scalping at retail volumes.
Wholesale clients can access higher leverage (typically up to 500:1 at the broker’s discretion) subject to the Corporations Act wholesale tests. If you’re running serious scalping volume and meet the wholesale criteria, the extra leverage on a wholesale account can be material. Most scalpers are retail and operate within the PIO caps.
Compare brokers by the factor that decides it
We've re-ranked the market for each decision factor below, using the same test approach you see on this page.
Start with the overall ranking
Our tested, ASIC-only ranking of the best forex brokers in Australia is the baseline I use for every shortlist below.
Cost decides it
Once you've settled on a platform, account pricing decides the broker. I've ranked these shortlists by total cost.
You're starting out
Simpler platforms, stronger education, and demo accounts with no time pressure.
What you trade decides it
CFD shortlists re-ranked for the asset class you trade most.
FAQs
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About the author
Justin co-founded CompareForexBrokers in 2014 and has traded forex since 1998. Based in Melbourne, he has tested every ASIC-regulated broker on this site personally and has written for Forbes, Kiplinger, Finance Magnates, the Australian Financial Review and The Age. He holds a Bachelor of Commerce (Honours) and a Master of Marketing from Monash University. Justin is the co-founder and CEO of CompareForexBrokers.