Here in this article, tradingcritique.com suggests the Best Forex trading platforms for the people in Australia considering its Regulation and License from the institution called ASIC (Australian Securities and Investment Commission).
This license is necessary for the brokers who like to offer Forex trading in Australia because it provides the rules to offer protection and controlled risk exposure to individual traders. This ASIC is an active public authority where you can check the companies’ information through their official website www.asic.gov.au, and if you follow them on Twitter @ASIC_Connect you will get all their updates, warnings or fines.
You may also come across unregulated brokers in the market. So beware and check the regulations before entering into Forex trade in any broker platform. In some cases, you can lose all the money invested in these unregulated broker platforms. In regulated broker platforms, these frauds cannot happen as they are under the vigilance of ASIC.
Choosing the right broker is the first step to become a successful trader. Here, tradingcritique.com has listed the top 3 Forex brokers in Australia.
The top 3 Forex brokers are selected considering various factors such as Regulations, User interface, Software, Commissions, Trading Platforms, Visitors’ comments, etc., to these Forex trading platforms.
This ranking has been prepared by tradingcritique.com after researching most of the Forex brokers (authorized by ASIC) accepting Australian clients. All the below listed 3 broker platforms follow the ASIC regulations properly, much liked by the traders due to its many efficient factors. The personal reviews of the traders are considered as the main criteria for ranking.
Go market
| Website link | GO Markets Australia |
| Regulations | ASIC, FSC, and CySEC, |
| Minimum Deposit | 200 AUD |
| Forex Pairs | 51 Currency pairs |
| Trading Platforms | MT4, MT5, Automated trading and Social Trading. |
| Fees | Spread costs, Commissions and Overnight Financing Costs. |
| Guaranteed Negative Protection | Yes (For protection account) |
| Guaranteed Stop Loss | No |
| Demo Account | Yes with $50,000 |
| Deposit Method | Visa, Master Card, Skrill, Neteller, Fasapay and Bank Transfer. |
| Monthly visitors from Australia | 67.53K (24.24% from total visitors) |
GO Markets Pty Ltd parent company of GO Markets Ltd was founded in Australia in 2006 as a provider of CFD and Forex Trading online. Australia’s first MT4 platform provider in Forex trading was the GO Markets.
GO Markets currently offers a spread-based and commission-based trading account. It gives access to MT5, WebTrader, mobile trading, other trading tools and free trading education courses to their traders. GO Markets currently have offices in London, Taipei, Hong Kong and Cyprus.
FP Markets
| Website link | FP Markets Australia |
| Regulations | ASIC and CySEC |
| Minimum Deposit | 100 AUD |
| Forex Pairs | 61 Currency pairs |
| Trading Platforms | MT4, MT5, Automated trading and Social + Copy Trading. |
| Fees | Spread costs, Commissions, Non-Trading fees and Withdrawal fees. |
| Guaranteed Negative Protection | No |
| Guaranteed Stop Loss | No |
| Demo Account | Yes with $100,000 |
| Deposit Method | Visa, Master card, Skrill, Neteller, Fasapay, Bpay, POLi, PayPal, Paytrust, Broker to Broker and Bank Transfer. |
| Monthly visitors from Australia | 46.10K (11.84% from total visitors) |
FP Markets (First Prudential Markets) was founded by Matthew Murphie in Sydney, Australia in the year of 2005. It offers CFD and Forex to retail traders and institutional investors.
FP Markets is centred on many core values which include competitive brokerage fees, quick trade execution, advanced trading platforms and excellent customer service. It was awarded as the Best Forex Broker in Australia in 2020.
Pepperstone
| Website link | Pepperstone Australia |
| Regulations | ASIC, FCA , DFSA, CMA, SCB, and BaFin, |
| Minimum Deposit | 200 AUD |
| Forex Pairs | 61 Currency pairs |
| Trading Platforms | MT4, MT5, Ctrader, Automated trading and Social + Copy Trading. |
| Fees | Spread costs, Commissions, Overnight Financing Costs and Withdrawal fees (Only international bank transfer). |
| Guaranteed Negative Protection | Yes |
| Guaranteed Stop Loss | No, only Standard Stop Loss |
| Demo Account | Yes with $50,000 |
| Deposit Method | Visa, Master Card, Skrill, Neteller, Bpay, POLi, PayPal, Union pay and Bank Transfer. |
| Monthly visitors from Australia | 67.45K (9.7% from total visitors) |
Pepperstone is a Melbourne based brokerage firm founded by Owen Kerr and Joe Davenport in 2010. It is specialised in providing markets access to Forex, Index, Share, Commodities, Cryptocurrencies and CFDs.
Pepperstone offers two types of accounts, namely,
- Standard account type – oriented towards smaller accounts,
- Razor account type – with tighter spreads for advanced and algorithmic traders.
Pepperstone is now serving clients all over the world, with offices in Australia, Bahamas, Cyprus, Dubai, Germany, Kenya, and the UK.
One Final Conclusion
The top 3 Forex brokers that are ranked above were done by the expert research team of tradingcritique.com. The ranking is done considering various factors responsible for its efficiency in various Forex broker platforms. These three are the best-regulated brokers in the Australian market. Visit the broker platforms on your own, check the facilities available and select the Forex trading platform(s) suitable for you.
