If you don’t know by now, Australia is a highly forex-friendly country. Traders will understand that the trading day starts in the Sydney session Monday to Friday from 17h00 EST.
Therefore, it is befitting to seek the best Australian forex brokers. Here, we uncover the top five. But first, let’s look at the FX regulatory landscape in this country.
Top 5 Forex Brokers in Australia for 2025
| Broker | Deposit* | Leverage* | Platforms | Assets | Regulation | Visit |
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| XM | Min. Deposit: $5 | Max. Leverage: 1:1000 |
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Visit XM XM review |
| XTB | Min. Deposit: - | Max. Leverage: 1:500 |
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Visit XTB XTB review |
| Eightcap | Min. Deposit: $100 | Max. Leverage: 1:500 |
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Visit Eightcap Coming soon |
| AvaTrade | Min. Deposit: $200 | Max. Leverage: 1:400 |
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Visit AvaTrade AvaTrade review |
| Pepperstone | Min. Deposit: $200 | Max. Leverage: 1:500 |
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Visit Pepperstone 74-89% of retail investor accounts lose money Pepperstone review |
| Bubinga | Min. Deposit: $5 | Max. Leverage: - |
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Visit Bubinga Coming soon |
Regulation for Forex Trading Brokers Australia
All financial services in Australia, including forex brokers, are regulated by ASIC (Australian Securities and Investments Commission), an independent commission formed in 1998. ASIC is one of the industry’s most reputable and strictest agencies, hence the increasing number of brokers seeking their regulation.
Let’s look at some of the policies it implements for its member firms.
- A broker needs at least A$1 million in operating capital at all times.
- ASIC mandates the brokers to only work with tier-1 banks to segregate client funds.
- The broker should have a physical office in the country.
- Most of the broker’s clients should be from Australia.
- Leverage for forex is capped at 1:30.
- The close-out of positions applies at a 50% margin rate (the margin call is initiated at 100%).
- Banning of particular inducements like trading bonuses, rebates, and gifts.
Unfortunately, we couldn’t get the licensing fee, but our research suggests between A$35 000 to A$50 000. Also, most forex brokers in Australia are part of the Investor Compensation Fund, which is insurance for client funds in the event a broker goes under.
Here’s a summary of the key pointers when considering the best forex brokers Australia:
- Trading and other miscellaneous costs should be minimal or as low as possible.
- It should have the widest range of forex pairs and other non-forex instruments to make diversification more convenient.
- Regulated forex brokers in Australia should provide a broad selection of convenient payment options.
- They should have excellent and responsive customer support.
- An ASIC-regulated broker should have a unique selling point or special feature.
Let’s now look at our top Australia forex brokers list.
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FAQ
Which broker is good for beginners in Australia?
We feel XM is the most beginner-friendly in our Australia forex brokers list. This is because they provide a cent account and have a much lower starting balance ($5) compared to the others. Both of these qualities match what newbies seek in a broker. It also provides the familiar MetaTrader platforms, which are super easy to use.
Do I have to pay tax on forex earnings in Australia?
Yes, any profits made using forex brokers for Australian traders are subject to tax deductions. The Australian Taxation Office categorises currency trading into investing and trading.
The former notes any profits from positions held for over a year, while the latter deals with short-term speculation with trades held for less than a year. The amount of liable tax will depend on each trader's tax bracket.
Which forex broker is best in Australia?
Based on features, Pepperstone offers more and is, hence, the best. One benefit is how many trading platforms it supports, from the easy-to-use ones like MT4/MT5 to more sophisticated ones like TradingView.
Also, they provide a good choice of payment options and provide a zero spread account which you don't find with many brokers. IC Markets is a close second, in our opinion.
Which broker gives the highest leverage in Australia?
All forex trading brokers Australia offer a maximum leverage of 1:30, a sharp drop from the previous offering. The strictness is due to concerns of retail traders over-leveraging and losing money in the markets.
ASIC implemented the reduction into effect in March 2021, along with mandatory negative balance protection and tighter margin call/stop-out levels.
What is the best trading account in Australia?
The standard account (available with all forex brokers accepting Australian clients) is sufficient for most traders. If you're a beginner, you may consider the cent account from XM. The zero spread accounts offered by Pepperstone and IC Markets are best for trading exotic pairs and high-frequency traders like scalpers and those using robots.