Forex Brokers Australia

  1. What is Forex Broker Australia
  2. Authority & Regulation
  3. Best Brokers Australia

What is Forex Broker Australia?

Eventually, this is a Forex Brokers based in Australia, while for the last years Australian proposal widely spread its offering and became one of the leading online-trading hubs which made Australia an important world center of the trading industry.

Where Australia is one of the world’s important countries and economies operates quite big volumes in daily transactions. Besides, the AUS USD pair is among the popular currency pairs for both retail and institutional Forex traders and is widely discussed or traded via Social trading communities.

Is Forex trading legal in Australia?

Ever since the expansion of the Online Trading solutions started its rapid growth, Australia immediately established regulations for FX and CFD Brokerage companies due to the high risks of the trading activity itself.

Therefore, yes Forex trading is legal in Australia, while it is mandatory for every Brokerage before it legally operates in Australia to obtain an ASIC license.

The mission of a national regulatory authority the Australian Securities and Investment Commission (ASIC) is to oversee firms’ financial services integrate corporate and market companies, also to enforce and regulate the operation. Which enables unparalleled protection of the customers’ rights, for more details and information you can check out the official website also connect to recent updates by following its Twitter @ASIC_Connect.

Historically ASIC was established in 1998 as a national authority as a step from Australia towards the Forex industry through its intention to establish the best possible practices and make trading available and safe to all. In fact, it does truly extend the establishment of the brokerage offerings and enable industry smooth flow with its greatest, obviously one of the best client protection. For more historical facts and its standards, you can check its Wikipedia page, or see our article Why trade with ASIC Brokers?

Australia ASIC website

Is Forex trading taxable in Australia?

It always depends on the country’s law and your country of origin whether you will need to pay tax for Forex trading income or not. As example. Forex trading is taxable in Australia, also the USA, Japan and numerous other countries. This means, that Forex trading Tax will be applied to an individual who is not an Australian Resident but receives its income from an Australian broker.

Thus, it is always good to check and verify conditions with your legal advisor also the particular broker you trade, as there is a specified percentage, a maximum 60% of trades that is considered as gain.

Benefits of Australian Brokers

Nowadays, the interest towards Australian Forex brokers occurs even further since the Australian Forex market continues its development. As the bigger number of investors getting involved in trading for the high demand of their offered trading conditions, together with strict supervision of safety measures.

  • Due to the ASIC regulations, some of the favorite tools alike high leverage still remains available, unlike European or US recent updates, which increases demand onward due to high risks.
  • Australian Brokers are known for their progressive and highly developed technical solutions, fast execution and great performance, as well as an advanced educational program with resources that are available online.
  • One of the main Australian pros is availability during the Asia Trading session, connection with the local banks and strong customer support that is updated in local hours.

How do I start Forex trading in Australia?

Firstly and obviously, you have to choose a trading broker or the trading venue you will use for a trading strategy and your own defined purposes. There are indeed many brokerage houses operating either through dealing desk or providing true ECN connectivity along with Standard account proposal or Social trading available, so you can select a suitable one.

It is best to open a Demo account at first with the broker you select for trading and place your strategy at test, further on you can follow the Live trading account opening procedure with the upload of your documentation and follow by the first deposit.

Best Forex Brokers Australia

While the question is tricky by itself, as the best Australian Forex Brokers criteria define each own trader need, strategy, level of experience and conditions that are offered by the broker.

However, the first important point is always adherence to local, ASIC regulation and a good record including both, governing structures with overall industry reputation, likewise the regards and scores from the forex traders themselves.

Below you will find a listing of the Best Reviewed Brokers based in Australia or that serve regulated entity in Australia, also created according to the specified criteria and its Trust Scores.

  • FP Markets – Best Overall Broker in Australia 2020
  • Pepperstone – Lowest Spread Broker in Australia 2020
  • IC Markets – Best MT4 Broker in Australia 2020
  • AvaTrade – Best Broker for Beginners in Australia 2020
  • XM – Best for Scalping and EA Trading 2020
Broker Detail
alpari review Alpari
Min. Deposit: 20 US$
Max. Leverage: 1:500
Trading Platforms: MT4, MT5
Regulation: SVG FSC, IFSC
Alpari Review
GO Markets
Min. Deposit: 200 US$
Max. Leverage: 1:500
Trading Platforms: MT4, MT5, WebTrader
Regulation: ASIC, CySEC
GO Markets Review
FP Markets
Min. Deposit: 100 US$
Max. Leverage: 1:500
Trading Platforms: IRESS, MT4, MT5
Regulation: ASIC, CySEC
FP Markets Review
Pepperstone review Pepperstone
Min. Deposit: 200 US$
Max. Leverage: 1:30 | 1:500
Trading Platforms: MT4, MT5, cTrader
Regulation: FCA, ASIC, DFSA, SCB, CMA, CySEC
Pepperstone Review
BDSwiss Review BDSwiss
Min. Deposit: 100 US$
Max. Leverage: 1:500
Trading Platforms: MT4, MT5, BDSwiss Webtrader
Regulation: ESMA, CySEC, FSC, NFA, FSA
BDSwiss Review
Orbex Review Orbex
Min. Deposit: 200 US$
Max. Leverage: 1:30 | 1:500
Trading Platforms: MT4
Regulation: CySEC, MFSC
Orbex Review
xm.com_review XM
Min. Deposit: US$5
Max. Leverage: 1:30 to 1:888
Trading Platforms: MT4, MT5, XM WebTrader
Regulation: CySEC, ASIC, IFSC
XM Review
FXCM review FXCM
Min. Deposit: 50 US$ | 300 GBP
Max. Leverage: 1:200 | 1:30
Trading Platforms: MT4, Trading Station, ZuluTrade, TradingView, Ninja Trader
Regulation: ASIC, FCA, FSCA
FXCM Review
City Index Broker review City Index
Min. Deposit: 100 GBP
Max. Leverage: 1:30
Trading Platforms: Advantage Web, AT Pro, MT4
Regulation: FCA
City Index Review review
Min. Deposit: 50US$
Max. Leverage: 1:40
Trading Platforms: MT4, MT5, Platforms
Regulation: FCA, IIROC, ASIC, CFTC Review