Are you looking for the best forex trading platforms Australia? We compared the best forex trading accounts and found that IC Markets is the top Australian forex broker overall. Our comparison also found that Plus500 is ideal for those new to trading while Pepperstone has the lowest fees. So let’s look at why we made these recommendations.
Best forex broker Australia
Based in Melbourne, Pepperstone is the best Australian forex broker. Here are three reasons why. Firstly, Pepperstone has competitive fees. The average spread on the most popular currency pair which is the euro and US dollar is just 0.9 pips. Pepperstones award-winning razor account also has low commissions starting from $3.50 for every 100,000 units traded.
Secondly, Pepperstone offers the best forex trading platforms. This includes the three most popular software platforms globally MetaTrader 4, MetaTrader 5, and cTrader. Not only does Pepperstone offer these platforms but they include 28 smart trading tools for even better trading and the ability to execute automated trading and scalping. Lastly, Pepperstone offers one of the fastest execution speeds
for Australian traders at under 30 milliseconds. With Australia geographically located a long way from the New York and London trading hubs, this is an amazing achievement. Remember, faster execution speeds mean you’re more likely to buy or sell at the price quoted and minimize the likely hood of slippage. Overall, speed, low costs, and superior technology are why Pepperstone is our first choice broker.
If you’re new to trading, Plus500 may be worth considering. We like Plus500 for beginners because they offer a guaranteed stop-loss. This allows traders to define how much they are willing to lose on a trade with the knowledge any loss greater than that amount will be guaranteed. While this feature is an additional cost built into the brokers spreads, it can be useful for new traders. The other reason We like Plus500 because it is their easy-to-use platform.
It has one of the easiest-to-use interfaces with inbuilt charting facilities. While some advanced features are not present in the platform, this isn’t an issue for new traders who just want to trade basic forex pairs and CFDs. Overall, the easy-to-use platform and risk management tools are why Plus500 is a good option for beginner Australian forex traders.
IC Markets is the best forex broker in Australia to trade if you are looking for the lowest spreads. The broker offers 63 currency pairs and spreads as low as 0 pips. The reason that IC Markets offers the best spreads is because They have ECN-like trading conditions. With no dealing desk, IC Markets connects Australian traders to deep liquidity pools worldwide for the best prices. Commissions are also modest at $3.50 for 100,000 units traded.
Overall, IC Markets is the most popular broker for advanced traders including those who use automation where keeping trading costs low is a must. So there you have it, our top 3 Australian forex brokers! Let us know which of them you’re excited to explore with a comment!
IG – Largest forex broker in Australia.
If you’re looking for a forex broker that can offer you a wide range of trading options and tools, IG may be the perfect fit for you. IG is the largest forex broker in Australia, and it offers traders a wide range of trading options and tools. These include live trading, forex charts, real-time news, and a wide range of trading tools and resources. If you’re looking for a forex broker that can offer you a wide range of trading options and tools, IG may be the perfect fit for you.
EToro – Top Australian CFD copy trading platform.
Etoro is a top Australian CFD copy trading platform that allows traders to trade a variety of CFDs and forex products. Etoro also offers a number of features that make it a popular choice for traders, including live chat and a user-friendly platform. Etoro is one of the most popular CFD platforms in the world, with over 10 million users. It offers a variety of CFDs and forex products, including CFDs on stocks, commodities, indices, currencies and more.
Traders can also use Etoro to trade CFDs on a variety of assets, including stocks, indices, commodities, currencies and more. Etoro also offers a number of features that make it a popular choice for traders, including live chat and a user-friendly platform. Etoro is a top Australian CFD copy trading platform that allows traders to trade a variety of CFDs and forex products
FXCM – Good MetaTrader 4 forex trading platform.
FXCM is one of the oldest and most popular forex trading platforms. It offers a wide variety of features, including live streaming, order management, and real-time market data. FXCM also offers a number of educational resources, including a blog and video tutorials. Overall, FXCM is a reliable and user-friendly platform.
Saxo Bank– Good VIP forex exchange broker
Saxo Bank is a good VIP forex exchange broker. The company offers many benefits for its clients, such as low trading commissions and fast execution of trades. Saxo Bank also has a wide range of forex products and services to offer its clients.
CMC Markets– Top range of CFDs and currency pairs
CMC Markets is one of the world’s leading CFDs and currency platforms. It offers traders access to a wide range of assets, including stocks, commodities, indices, currencies and more. With over 25,000 products and over 150 trading platforms, traders can find the right product for their needs.