Forex Brokers in Australia

Is Forex / CFD trading legal online in Australia? The short answer to that would be yes. The longest is: yes, but you must make sure you are dealing with an ASIC licensed entity.

ASIC is the Australian Securities and Investments Commission, whose areas of responsibility include online financial services, derivatives and securities, not to mention consumer protection. Why do you want your broker to be a regulated ASIC? Simple: ASIC will only act as a consumer protection watchdog for you, if the agent you are negotiating with is under your authority.

The Australian Forex / CFD / Cryptocurrency scene is intricate, where at least three different types of brokerages sell their services. There are unregulated, unregulated brokers with global reach, whose services may also be accessible to Australian merchants. Then, there are financial service providers that are not based in Australia, but are authorized by ASIC to sell their products there. Finally, there are operations born and raised in Australia, firmly under the authority of ASIC.

BROKER

FEATURES

MIN DEPOSIT

EURUSD SPREAD

DESTINATION

number_one

US Clients: No
Regulated: Yes

Your capital is at risk

– 40% New Member Bonus
– MIFID, ASIC, FSA & FSCA regulated
– Free Online Trading Coach

​$100

Fixed

US Clients: No
Regulated: Yes

Your capital is at risk

– Regulated by FCA, CySEC, FSCA, IFSC and FSC
– Over 1M Registered Accounts
– More than 250 Trading Instruments
– MT4, MT5 and Web Trader Platforms
– Full ECN Trading Model
– Crypto-trading only avail. for clients of FT Global Limited.

$10

ECN 0.1, Standard 1.6

US Clients: No
Regulated: Yes

Your capital is at risk

– Minimum Deposit $5
– Up to 1:500 leverage with micro-lots (0.01 size) available for everyone
– Scalping, hedging, trading on the news, and EAs are permitted at OctaFX.
– First Time Deposit Match: 50% Up To Any Max Deposit.

$5

0.2 pips

US Clients: No
Regulated: Yes

Your capital is at risk

– АSIC Regulated
– True ECN Execution with spreads from 0.0 pips
– Powerful 500:1 leverage and 0.01 micro lot trading
– Scalping, hedging and EAs are allowed
– MAM / PAMM accounts
– Established in 2005
– 10,000+ products to trade

$100

From 0.0 pips

US Clients: No
Regulated: Yes

Your capital is at risk

– $10 usd minimum deposit
– State of the art platform
– 24/7 support in more than 17 languages
– Free demo account

$10

Varies

US Clients: No
Regulated: Yes

Your capital is at risk

– CySEC regulated.
– Good for beginners with excellent trading academy.
– Beginner Friendly

$250

From 0.8 pips

US Clients: No
Regulated: Yes

Your capital is at risk

– CySEC, FCA, ASIC Regulated
– MT4, MT5, WebTrader platform
– $50% and 20% deposit bonus up to $5,000(t&c apply)

$5

Vary

US Clients: No
Regulated: Yes

Your capital is at risk

– ASIC Regulated
– Well Established
– No Fees
– 24 hour support

$200

From 0.1 pips

alvexo

US Clients: No
Regulated: Yes

Your capital is at risk

– FREE Live trading signals delivered 3 times daily 5 days a week.
– Complete Education pack for novices and advanced traders alike. Designed to support long term – reliable trading.
– Alvexo’s New Webtrader – user friendly, tailored reports and built in trading signals.

$500

From 0.6 pips

US Clients: No
Regulated: Yes

Your capital is at risk

– Min Deposit $100
– Leverage Up to 1:500
– Accounts may be individual, joint, or corporate, with options for traditional or ECN type pricing

$100

.5 pips

US Clients: No
Regulated: Yes

Your capital is at risk

– FSCA Regulated
– MetaTrader 4 & Sirix platforms
– Education Tools
– Copy Trading is Available

$250

from 0.5 pips

US Clients: No
Regulated: Yes

Your capital is at risk

– Minimum Deposit $250
– Leverage 1:200
– Dedicated Account Manager

$250

Fixed & Floating

US Clients: No
Regulated: Yes

Your capital is at risk

– Flexible leverage up to 500:1
– Multi award-winning New Zealand broker
– Institutional-grade spreads from 0.1 pips

$200

From 0.1

US Clients: No
Regulated: Yes

Your capital is at risk

– FCA, NFA, CFTC, IIRO, FSA, CIMA, MAS, SFC Regulated.
– Award winning platform.
– Beginner Friendly.
– Well established, safe and trusted.

​£100

Varied

US Clients: No
Regulated: Yes

Your capital is at risk

– Low min. deposit
– Easy deposit and withdrawals
– A lot of pairs offered

$00

Variable

US Clients: Yes
Regulated: Yes

Your capital is at risk

– Trusted Global Market Leader
– Online FX & CFD Trading
– 180+  Global Markets, 84 FX pairs, 65 shares, 17 popular indices and more
– Forex, Indices, Commodities, Equities & Bitcoin
– Available to US traders

$250

1 pip

US Clients: No
Regulated: Yes

Your capital is at risk

– CySEC, FSCA, FSA, DFSA, FCA Regulated
– MetaTrader4 & 5 platform
– Proprietary debit card for quick withdrawal applications!

$5

From .2 pips

fxpro

US Clients: No
Regulated: Yes

Your capital is at risk

– CySEC, DFSA, FCA, FSCA, SIA Regulated
– MetaTrader4 , MetaTrader5, cTrader, FxPro SuperTrader
– 10+ Years in business
– 50+ International Awards

$100

From 1:1 to 1:500

The most important global brands have established Australian subsidiaries for their operations in the country, that is, the registered Australian companies, with their physical addresses in the country.

Of these, the first type corridors (without license, without regulation) represent the greatest dangers. If you have some experience in the commerce industry, you are aware of the scams and the dishonest operators who do their “magic”. Just imagine what these scammers will do with their deposited funds, without any authority watching them.

Brokers in Australia who are licensed by ASIC and who operate from a physical location within the country are generally reliable and always responsible. In fact, it is considered that ASIC is one of the most demanding national financial regulators in the world.

ASIC is an independent government agency whose main function is to ensure that Australian companies and financial service providers comply with laws that protect creditors, investors and traders.

The organization was established in 1998. Its operational framework was established through the Australian Securities and Investments Commission Act of 2001.

ASIC maintains a registry that contains all the names of companies, associations and managed investment schemes registered in the country. If the name of your agent is not in this record, you should look for another one.

The predecessor of ASIC was the ASC (Australian Securities Commission), which was established in 1991.

In the course of its brief but memorable history, ASIC has seen some ups and downs. It was even the target of a class action lawsuit in 2015-2016 for allegedly failing to act properly to protect consumers in the Storm Financial incident.

In 2016, ASIC acted against four Australian banks for improperly influencing benchmark interest rates, but it caused more anger because it is too late to act on the case.

Although its official website is asic.gov.au, ASIC manages a website dedicated to tools and financial guidance, called MoneySmart (moneysmart.gov.au). This portal not only offers investment advice and relevant news for investors, but also presents a list of companies that should not be dealt with.

It goes without saying that this list is valid if you are looking to trade Forex from within the country or from a different location. Before registering an account with an intermediary, see if you can find it in the “black list” of ASIC in MoneySmart.

Although ASIC will register the offensive entities on its blacklist, as long as they are reported by the scammers, it is sincere that they can not recover the money sent to operators / brokers based outside their jurisdiction. This is the reason why it is doubly important to consult with the regulator BEFORE committing money in a commercial company.

That said, the brokers authorized by ASIC are obviously safe to deal with.

To read more about forex brokers and trade, click here.