7 Best Forex Brokers in Australia

 

The 7 Best Forex Brokers in Australia revealed. We have rated and reviewed the best Forex Brokers accepting Australian Traders.

 

This is a complete listing of The 7 Best Forex Brokers in Australia. In this in-depth write-up you will learn:

 

• Who is the Best Suited Broker for Beginner Australian Traders?
• Pros and Cons of Forex in Australia.
• Australian Dollar Accounts and how they work.
• AUD (A$) Costs of Trading Forex

 

and much, much more!

 

🔎 Broker	🚀 Open an Account	🤝 Accepts Australian Traders	💰 Minimum Deposit (USD)
🥇 XM	👉 Click Here	✅ Yes	5 USD
🥈 AvaTrade	👉 Click Here	✅ Yes	100 USD
🥉 etoro	👉 Click Here	✅ Yes	50 USD
🏅 XTB	👉 Click Here	✅ Yes	None
🎖️ IG	👉 Click Here	✅ Yes	None
🥇 CMC Markets	👉 Click Here	✅ Yes	None
🥈 FBS	👉 Click Here	✅ Yes	5 USD

 

7 Best Forex Brokers in Australia (2025)

 

1. ☑️ XM – Overall, Best Broker in Australia
2. ☑️ AvaTrade – Well-Regulated Forex Broker
3. ☑️ eToro – High Australian Trust Score
4. ☑️ XTB – Best Online Trading Experience
5. ☑️ IG – Low A$ Minimum Deposit
6. ☑️ CMC Markets – Excellent Technical Tools
7. ☑️ FBS – Lowest Overall Costs in AUD

 

1. XM

XM stands out as a well-rounded forex broker, offering a wide range of trading instruments and account types to suit various trading preferences and strategies. Their diverse product range and multiple account options cater to both novice and experienced traders.

 

🔎 Broker	🥇 XM
📌 Year Founded	2009
👤 Amount of Staff	450+ employees
👥 Amount of Active Traders	5,000,000+ traders worldwide
📍 Publicly Traded	None
📈 Regulation	Financial Services Commission (FSC)
⭐ Safety and Security	High
📉 Account Segregation	✅Yes
📊 Negative Balance Protection	✅Yes
💹 Investor Protection Schemes	✅Yes
🅰️ Institutional Accounts	None
🅱️ Managed Accounts	None
💴 Minor Account Currencies	USD, EUR, GBP, JPY, AUD
💶 Minimum Deposit	5 USD
⏰ Average Deposit/Withdrawal Time	24 hours
💵 Fund Withdrawal Fee	None
💱 Spreads From	0.6 pips on major pairs
💷 Commissions	Zero commissions on most account types
🔟 Number of Base Currencies	11+
💰 Swap Fees	✅Yes
📊 Leverage	Up to 1:888
💹 Margin Requirements	Variable
☪️ Islamic Account	✅Yes
🆓 Demo Account	✅Yes
📈 Order Execution Time	0.01 seconds
🖥️ VPS Hosting	Free VPS
📍 CFDs Total	1,000+
📑 CFD Stock Indices	14+
🍎 CFD Commodities	8+
📌 CFD Shares	1,200+
🅰️ Deposit Options	Bank Wire, Credit/Debit Card, eWallets, Local Payment Methods
🅱️ Withdrawal Options	Bank Wire, Credit/Debit Card, eWallets, Local Payment Methods
⭐ Trading Platforms	MetaTrader 4, MetaTrader 5
💻 OS Compatibility	Windows, macOS, Android, iOS
🖥️ Forex Trading Tools	Technical analysis, trading signals, economic calendar, Autochartist
🩷 Customer Support	Multiple Channels
🥰 Live Chat Availability	24/5
💌 Customer Support Email	support@xm.com
☎️ Customer Support Contact Number	+501 223-6696 +501 227-9421
💡 Social Media Platforms	Facebook, Twitter, Instagram, LinkedIn, YouTube
✏️ Languages Supported	25+
📔 Forex Course	✅Yes
📚 Webinars	✅Yes
📒 Educational Resources	Video tutorials, trading guides, market analysis, blog
🤝 Affiliate Program	✅Yes
🗃️ Amount of Partners	100,000+
🗄️ IB Program	✅Yes
🏆 Sponsors events or teams	✅Yes
🏷️ Rebate Program	✅Yes
🔖 Cent or Micro Accounts	✅Yes
🚀Open an Account	👉 Click Here

 

Pros and Cons

 

✅ Pros	❌ Cons
Highly Regulated	Inactivity Fees
Diverse Account Types	No U.S. Clients
Low Minimum Deposit	Higher Spreads on Select Accounts
No Requotes	Withdrawal Fees
Tight Spreads	High Leverage Risks
Multiple Platforms	Account Verification Process
Variety of Instruments	Limited Proprietary Tools
Free VPS Hosting	Language Support Limitations
Multilingual customer support	Geographic Restrictions

 

Frequently Asked Questions

 

Is XM a regulated broker?

XM is regulated by several financial authorities, including the Cyprus Securities and Exchange Commission (CySEC), the Financial Services Commission (FSC) of Belize, and the Australian Securities and Investments Commission (ASIC), depending on the region.

 

Can I use XM’s trading platforms on mobile devices?

Yes, both MT4 and MT5 are available as mobile apps for iOS and Android devices, allowing you to trade on the go.

 

What are the typical spreads offered by XM?

XM offers competitive spreads that vary depending on the account type and trading instrument. For example, the XM Zero account features raw spreads starting from 0 pips.

 

Are there any restrictions on trading strategies?

XM does not impose restrictions on trading strategies. You can use various strategies, including scalping, hedging, and automated trading.

 

 

Our Verdict

With competitive spreads, flexible leverage options, and low minimum deposit requirements, XM offers attractive trading conditions that appeal to a broad spectrum of traders, from beginners to professionals.

 

 

2. AvaTrade

AvaTrade operates under multiple regulatory authorities, including the Central Bank of Ireland, ASIC, and the FSA in Japan. This multi-regulatory oversight enhances the broker’s credibility and ensures a secure trading environment.

 

🔎 Broker	🥇 AvaTrade
💰 Minimum Deposit	$100 USD
🚀Bonus	Open a trading account in 1 minute and receive up to $ 10.000 Bonus.
📱 MetaTrader 4 (MT4)	Yes
📱 MetaTrader 5 (MT5)	Yes
📊Trading Islamic Account	Yes
🎮 Demo account provided	Yes
🚀 Open an Account	👉 Click Here

 

 

Pros and Cons

 

✅ Pros	❌ Cons
Fee Free Deposit	Limit Offers
Low Trading Fees	Inactivity Fee
User Friendly	Administration Fee

 

Frequently Asked Questions

 

What is AvaTrade?

AvaTrade is an international forex and CFD broker that offers a wide range of trading instruments, including forex, stocks, commodities, cryptocurrencies, and indices. It provides trading services through various platforms and is known for its extensive range of trading tools.

 

Are there any fees for depositing or withdrawing funds?

AvaTrade generally does not charge fees for deposits or withdrawals. However, your payment provider or bank may impose fees, so it is advisable to check with them directly.

 

What leverage options are available with AvaTrade?

AvaTrade offers leverage up to 1:400, depending on the trading instrument and account type. However, leverage limits may be subject to regulatory restrictions based on your location.

 

Does AvaTrade provide educational resources for traders?

Yes, AvaTrade offers a comprehensive range of educational resources, including webinars, video tutorials, eBooks, and trading guides to help traders of all levels improve their trading skills and knowledge.

 

 

Our Verdict

AvaTrade stands out for its innovative trading tools and resources, such as its proprietary AvaProtect feature, which offers a unique risk management solution that allows traders to protect their trades against losses.

 

3. eToro

eToro operates under strict regulatory oversight from top financial authorities, including the FCA and CySEC. This regulatory framework ensures high security and trust, providing traders with confidence in the platform’s integrity and reliability.

 

🔎 Broker	🥇 eToro
📌 Year Founded	2007
👤 Amount of staff	1,000+
👥 Active traders	Over 30 million
📍 Publicly Traded	None
🛡️ Regulation	FCA, CySEC, ASIC
🌎 Country of regulation	UK, Cyprus, Australia
↪️ Account Segregation	✅Yes
⭐ Negative balance protection	✅Yes
🔖 Investor Protection Schemes	✅Yes
🅰️ Institutional Accounts	None
🅱️ Managed Accounts	None
💴 Minor account currencies	USD, EUR, GBP
💶 Minimum Deposit	50 USD
📈 Average deposit/withdrawal processing time	1-3 business days
💵 Fund Withdrawal Fee	5 USD
📉 Spreads from	1 pip
💷 Commissions	None
🪙 Base currencies supported	USD
🔁 Swap Fees	✅Yes
📐 Leverage	Up to 30:1
⚙️ Margin requirements	Variable
☪️ Islamic account	✅Yes
🆓 Demo Account	✅Yes
⏰ Order Execution Time	Instant
🖱️ VPS Hosting	None
📊 CFDs Total	1,000+
💹 CFD Stock Indices	✅Yes
🍎 CFD Commodities	✅Yes
➡️ CFD Shares	✅Yes
💴 Deposit Options	Credit/Debit Card, PayPal, Bank Transfer, Skrill, Neteller
💶 Withdrawal Options	Credit/Debit Card, PayPal, Bank Transfer, Skrill, Neteller
🖥️ Trading Platforms	Proprietary
💻 OS Compatibility	Browser, Android, iOS
⚙️ Forex trading tools	Social Trading, CopyTrader, CopyPortfolios
🥰 Live chat availability	✅Yes
💌 Customer Support Email	Web Form
💙 Social media Platforms	Facebook, Twitter, LinkedIn
✏️ Languages Supported	Multiple
📔 Forex course	✅Yes
📚 Webinars	✅Yes
📒 Educational Resources	✅Yes
📑 Affiliate program	✅Yes
🗃️ IB Program	✅Yes
🚩 Sponsors notable events or teams	✅Yes
📌 Rebate program	None
📍 Cent or Micro Accounts	None
🚀Open an Account	👉 Click Here

 

 

Pros and Cons

 

✅ Pros	❌ Cons
Wide Range of Deposit Methods	Withdrawal Fees
User-Friendly Interface	Currency Conversion Fees
Social Trading Features	Limited Customer Support
No Deposit Fees	High Spread Costs
Secure Transactions	Inactivity Fees
Low Minimum Deposit	Limited Trading Platforms
Diverse Range of Assets	High Fees on Some Assets
Instant Deposits	Restricted Access in Some Regions

 

Frequently Asked Questions

 

What is eToro?

eToro is a global online trading platform that offers a wide range of financial instruments, including stocks, forex, cryptocurrencies, commodities, and ETFs. It is known for its social trading features and user-friendly interface.

 

Are there any fees for depositing or withdrawing funds?

eToro does not charge fees for depositing funds, but there are fees for withdrawals, and the amount may vary depending on your account’s currency and withdrawal method.

 

What is CopyTrading on eToro?

CopyTrading is a feature on eToro that allows users to automatically copy the trades of experienced and successful traders. This feature is designed to help beginners leverage the expertise of others.

 

What types of customer support does eToro provide?

eToro offers customer support via live chat, email, and a comprehensive help center. Support is available in multiple languages to assist users globally.

 

 

Our Verdict

eToro provides a wealth of educational resources, including webinars, market analysis, and trading guides. Moreover, eToro offers an extensive selection of tradable assets, including stocks, forex, cryptocurrencies, commodities, and ETFs.

 

 

4. XTB

XTB is well-regulated by top-tier financial authorities, including the Financial Conduct Authority (FCA) in the UK and the Polish Financial Supervision Authority (KNF). This regulatory oversight ensures a high level of security and transparency for traders.

 

🔎 Broker	🥇 XTB
📌 Year Founded	2002
👤 Amount of Staff	Approximately 2,000
👥 Amount of Active Traders	Over 500,000
📍 Publicly Traded	Warsaw Stock Exchange (WSE)
📈 Regulation	FCA, KNF, IFSC, CySEC
🌎 Country of Regulation	UK (FCA), Poland (KNF)
📉 Account Segregation	✅Yes
📊 Negative Balance Protection	✅Yes
💹 Investor Protection Schemes	✅Yes
🅰️ Institutional Accounts	✅Yes
🅱️ Managed Accounts	None
💰 Minor Account Currencies	Major, Minor
💴 Minimum Deposit	Varies by account type
⚡ Average Deposit/Withdrawal Processing Time	1-3 business days
💶 Fund Withdrawal Fee	None
📐 Spreads From	From 0.1 pips
💶 Commissions	Variable
💵 Number of Base Currencies Supported	30+
💷 Swap Fees	✅Yes
🔖 Leverage	Up to 1:500
🏷️ Margin Requirements	Varies
☪️ Islamic Account	✅Yes
🆓 Demo Account	✅Yes
🖇️ Order Execution Time	Milliseconds - Seconds
🖥️ VPS Hosting	Select accounts
📈 CFDs Total Offered	Over 2,000
📉 CFD Stock Indices	Major global indices
🍎 CFD Commodities	Oil, gold, etc.
📊 CFD Shares	✅Yes
💴 Deposit Options	Bank transfer, credit/debit, e-wallets, etc.
💶 Withdrawal Options	Bank transfer, credit/debit, e-wallets, etc.
🖱️ Trading Platforms	xStation 5
⭐ OS Compatibility	Windows, macOS, iOS, Android
⚙️ Forex Trading Tools	Charting tools, technical analysis
🥰 Live Chat Availability	✅Yes
☎️ Customer Support Contact Number	Varies by region
💙 Social Media Platforms	Twitter, Facebook, LinkedIn, Instagram
🚩 Languages Supported	Multiple languages
✏️ Forex Course	✅Yes
📔 Webinars	✅Yes
📚 Educational Resources	Articles, tutorials, etc.
🤝 Affiliate Program	✅Yes
🫶 Amount of Partners	Numerous global partners
🫰🏻 IB Program	✅Yes
🔖 Notable Events or Teams	✅Yes
🏷️ Rebate Program	✅Yes
🚀Open an Account	👉 Click Here

 

 

Pros and Cons

 

✅ Pros	❌ Cons
Negative balance protection	Limited managed account options
Islamic (swap-free) accounts available	Support response times may vary
Strong educational resources	VPS hosting for specific accounts only
Demo account available	Complex fee structure
Good customer support	Margin requirements can be high
No withdrawal fees	May have complex fee structure

 

Frequently Asked Questions

 

What are the key features of xStation 5?

xStation 5 offers a range of advanced features, including real-time market data, customizable charts, advanced order management, and an integrated news feed.

 

Can I access a demo account with XTB?

XTB provides free demo accounts that allow you to practice trading with virtual funds and familiarize yourself with their platforms and trading conditions.

 

Can I access market research from XTB?

Yes, XTB provides access to a variety of market research tools, including daily market reports, economic calendars, and expert analysis to help traders make informed decisions.

 

Does XTB offer personalized trading advice?

XTB does not offer personalized trading advice. However, they provide educational resources and market analysis that can help you make informed trading decisions.

 

 

Our Verdict

XTB offers competitive spreads and low trading fees, making it an attractive choice for traders looking to minimize trading costs while accessing a high-quality trading environment.

 

 

5. IG

IG Group is well-regulated by top-tier financial authorities, including the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC). This regulatory framework ensures a secure and transparent trading environment.

 

🔎 Broker	🥇 IG
📌 Year Founded	1974
👤 Amount of Staff	2,000+
👥 Amount of Active Traders	300,000+
📍 Publicly Traded	✅Yes
🛡️Regulation	FCA, ASIC, CFTC, NFA, BaFin
🌎 Country of Regulation	UK, Australia, US, Germany
↪️ Account Segregation	✅Yes
🚨 Negative Balance Protection	✅Yes
⭐ Investor Protection Schemes	✅Yes
🅰️ Institutional Accounts	✅Yes
🅱️ Managed Accounts	None
💴 Minor Account Currencies	USD, EUR, GBP
💶 Minimum Deposit	$250
⏰ Average Deposit/Withdrawal Processing Time	1-3 business days
💷 Fund Withdrawal Fee	None
📈 Spreads from	0.6 pips
📉 Commissions	None
💰 Number of Base Currencies Supported	5
📊 Swap Fees	Applicable
⚙️ Leverage	Up to 1:30 (Retail)
🔖 Margin Requirements	Varies by asset
☪️ Islamic Account	✅Yes
🆓 Demo Account	✅Yes
⏲️ Order Execution Time	0.1 seconds
🖱️ VPS Hosting	✅Yes
✔️CFDs Total	17,000+
📌 CFD Stock Indices	80+
🍎 CFD Commodities	30+
📍 CFD Shares	12,000+
💴 Deposit Options	Bank Transfer, Credit/Debit Cards, PayPal, Skrill
💶 Withdrawal Options	Bank Transfer, Credit/Debit Cards, PayPal, Skrill
🖥️ Trading Platforms	MetaTrader 4, ProRealTime, L2 Dealer, IG Trading Platform
💻 OS Compatibility	Windows, MacOS, Android, iOS
📐 Forex Trading Tools	Economic calendar, Autochartist, Trading signals
🥰 Live Chat Availability	✅Yes
💌 Customer Support Email	✅Yes
☎️ Customer Support Contact Number	✅Yes
💙 Social Media Platforms	Facebook, Twitter, LinkedIn
✏️ Languages Supported	Multiple languages
📔 Forex Course	✅Yes
📚 Webinars	✅Yes
📒 Educational Resources	Articles, Videos, Tutorials
📑 Affiliate Program	✅Yes
🗃️ Amount of Partners	Not specified
🗄️ IB Program	✅Yes
📇 Notable Events or Teams	✅Yes
🪙 Rebate Program	✅Yes
💴 Cent or Micro Accounts	None
🚀Open an Account	👉 Click Here

 

 

Pros and Cons

 

✅ Pros	❌ Cons
Highly Regulated	Higher Spreads
Wide Range of Trading Instruments	Inactivity Fees
User-Friendly Platforms	Limited Account Types
Educational Resources	Complex Fee Structure
Advanced Trading Tools	No Cent or Micro Accounts
Multiple Deposit and Withdrawal Options	Withdrawal Fees on Certain Methods

 

Frequently Asked Questions

 

Can I trade cryptocurrencies with IG Group?

Yes, IG Group offers trading in several cryptocurrencies, including major digital currencies like Bitcoin, Ethereum, and Litecoin, allowing you to diversify your trading portfolio.

 

Is IG Group insured against client losses?

IG Group does not offer insurance against client losses. It is important to understand the risks associated with trading and manage your risk accordingly.

 

How can I contact IG Group’s customer support team?

You can contact IG Group’s customer support team via live chat on their website, by email, or by phone. They offer support in various languages to accommodate a global client base.

 

Are there any restrictions on trading strategies at IG Group?

IG Group generally does not impose restrictions on trading strategies. Traders can use various strategies, including scalping and automated trading, though certain practices may be subject to specific conditions.

 

 

Our Verdict

IG Group is known for its responsive and efficient customer support. Traders can access support through multiple channels, including phone, email, and live chat, ensuring timely assistance whenever needed.

 

 

6. CMC Markets

CMC Markets operates under stringent regulatory frameworks, providing traders with a high level of security and trust. This regulatory oversight reassures users that their investments are managed in a safe and reliable environment.

 

🔎 Broker	🥇 CMC Markets
📌 Year Founded	1989
👤 Amount of staff	800+
👥 Amount of active traders	60,000+
📍 Publicly Traded	✅Yes
🛡️ Regulation	FCA, IIROC, ASIC, FMA, MAS
🌎 Country of regulation	UK, Australia, Singapore, Canada
🔁 Account Segregation	✅Yes
✔️ Negative balance protection	✅Yes
⭐ Investor Protection Schemes	FSCS (UK) CIPF (Canada)
🅰️ Institutional Accounts	✅Yes
🅱️ Managed Accounts	None
🪙 Minor account currencies	USD, EUR, GBP, AUD
💰 Minimum Deposit	None
⏰ Average deposit/withdrawal processing time	Variable
💴 Fund Withdrawal Fee	No fees
🔖 Spreads from	0.7 pips on Forex
💶 Commissions	No commission on Forex and most CFDs
🏷️ Number of base currencies supported	10+
💵 Swap Fees	✅Yes
↪️ Leverage	Up to 1:500
⏩ Margin requirements	Varies by asset and region
☪️ Islamic account	✅Yes
🆓 Demo Account	✅Yes
⌛ Order Execution Time	0.1 seconds
🖥️ VPS Hosting	✅Yes
📈 CFDs Total	10,000+
📉 CFD Stock Indices	100+
🍎 CFD Commodities	20+
📊 CFD Shares	9,000+
💹 Deposit Options	Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller
💱 Withdrawal Options	Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller
💻 Trading Platforms	MetaTrader 4, MetaTrader 5, Next Generation, WebTrader
🖱️ OS Compatibility	Windows, macOS, Android, iOS
⚙️ Forex trading tools	Advanced charting, economic calendar, technical analysis tools, automated trading options
🥰 Live chat availability	✅Yes
💌 Customer Support Email address	✅Yes
☎️ Customer Support Contact Number	✅Yes
💙 Social media Platforms	Facebook, Twitter, LinkedIn, YouTube
⭐ Languages supported on Website	English, Spanish, German, French, Italian, Chinese, Japanese
✏️ Forex course	✅Yes
📔 Webinars	✅Yes
📚 Educational Resources	Video tutorials, articles, eBooks
📒 Partnerships and Programs	✅Yes
📑 Affiliate program	✅Yes
🗃️ Amount of partners	Over 500
🗄️ IB Program	✅Yes
📇 Sponsor any notable events or teams	None
🚩 Rebate program	✅Yes
💴 Cent or Micro Accounts	None
🚀Open an Account	👉 Click Here

 

 

Pros and Cons

 

✅ Pros	❌ Cons
Wide Range of Deposit Options	Potential Withdrawal Fees
Fast Withdrawal Processing	Currency Conversion Costs
No Deposit Fees	Limited Cryptocurrency Support
Regulated Broker	Minimum Withdrawal Amount may Apply
Comprehensive Trading Platforms	Limited educational resources when compared

 

Frequently Asked Questions

 

What are CMC Markets?

CMC Markets is a global financial services company providing online trading in various assets, including forex, indices, commodities, and equities.

 

Are there any hidden fees with CMC Markets?

CMC Markets is known for its transparent fee structure, and any charges are clearly outlined. There are no hidden fees.

 

What is the withdrawal process like?

Withdrawals can be requested through your account dashboard and typically follow a straightforward process. Funds are usually transferred to your original payment method.

 

Is CMC Markets suitable for beginners?

CMC Markets is suitable for beginners due to its user-friendly platform and extensive educational resources.

 

 

Our Verdict

CMC Markets provides access to a broad spectrum of assets, including forex, indices, commodities, and equities. This diverse selection allows traders to explore various markets and diversify their portfolios with ease.

 

 

7. FBS

FBS combines its global presence with tailored services and local support, making it accessible and relevant to a wide range of traders. With its extensive customer support and educational resources, FBS ensures that traders have all the tools they need for a successful trading journey.

 

🔎 Broker	🥇 FBS
📅Year Founded	2009
🧑🏻‍💻Amount of staff	243
👩‍💻Amount of active traders	Over 27 Million
🌐Publicly Traded	None
🛡️Regulation	FSC CySEC ASIC
🌎Country of regulation	Cyprus (CySEC) Belize (FSC) Australia (ASIC)
💻Account Segregation	✅Yes
🪫Negative balance protection	✅Yes
🔋Investor Protection Schemes	✅Yes
➕Accounts	Standard Account Cent Account
💳Institutional Accounts	✅Yes
👨‍💼Managed Accounts	✅Yes
📇Minor account currencies	USD, EUR
💰Minimum Deposit	5 USD
🕞Deposit/withdrawal processing	1-3 business days
🪙Fund Withdrawal Fee	Free, but may depend on payment method
📊Spreads from	0.7 pips
💸Commissions	None
💱Number of base currencies	Over 72
🚀Swap Fees	Overnight financing fees apply
📈Leverage	Up to 1:3000
📏Margin requirements	50%
☪️Islamic account (swap-free)	✅Yes
💻Demo Account	✅Yes
⌛Order Execution	Typically within milliseconds
📆VPS Hosting	Yes, for eligible clients
🧾CFDs-Total Offered	Over 650+
🗠CFD Stock Indices	✅Yes
⚖️CFD Commodities	✅Yes
📜CFD Shares	✅Yes
💳Deposit Options	Credit/debit cards bank transfers electronic wallets
💵Withdrawal Options	Must be sent via the same payment method used for deposit
💻Trading Platforms	MetaTrader 4 (MT4) MetaTrader 5 (MT5)
👩‍💻OS Compatibility	Windows macOS Android iOS Web
🖥️Forex trading tools	✅Yes
🗣️Live chat availability	✅Yes
📱Customer Support email	support@fbs.com
📞Customer Support Contact	+357 22 010970
💙 Social media Platforms	Facebook Twitter Instagram
🗣️Languages supported	14 Languages
🖺Forex course	✅Yes
🧏‍♀️Webinars	✅Yes
📚Educational Resources	✅Yes
🪪Affiliate program	✅Yes
👨‍🏫Amount of partners	700 000
📋IB Program	✅Yes
🪙Rebate program	✅Yes
🚀Open an Account	Open Account

 

 

Pros and Cons

 

✅Pros	❌Cons
Low minimum deposit requirement	US, Japan, Israel, Canada, and some other regions not accepted
Range of trading instruments	High spreads on cent accounts
CopyTrade offered	Inactivity fee charged

 

Frequently Asked Questions

 

What is FBS?

FBS is an international brokerage firm providing trading services in forex, commodities, indices, and cryptocurrencies.

 

How can I access the FBS Trader app?

The FBS Trader app is available for download on both iOS and Android devices from their respective app stores.

 

Does FBS offer trading signals?

Yes, FBS provides trading signals and market analysis to help traders make informed decisions.

 

Does FBS offer copy trading?

FBS offers a copy trading service where you can follow and replicate the trades of successful traders.

 

 

Our Verdict

FBS offers a user-friendly platform and a diverse range of trading options, making it a top choice for both new and experienced traders.

 

 

Is Forex Trading Legal in Australia?

Forex trading is indeed legal in Australia and is subject to a robust regulatory framework designed to ensure a secure and transparent trading environment. The Australian Securities and Investments Commission (ASIC) is the primary regulatory body overseeing forex trading in the country. ASIC’s regulations require forex brokers to obtain a license, adhere to strict financial standards, and provide clear information about their services.

This regulatory oversight includes leverage restrictions to help protect retail traders from excessive risk, with maximum leverage set at 30:1 for major currency pairs and 20:1 for minor pairs. Additionally, ASIC mandates that client funds be held in segregated accounts to prevent misuse and protect traders’ capital. Forex trading platforms operating in Australia are generally regulated by ASIC, offering traders access to a variety of advanced tools and a high level of security.

However, traders should be aware that profits from forex trading are subject to Australian tax laws, including potential capital gains tax.

 

 

In Conclusion

 

Now it is your turn to participate:

 

• Which Australian broker from this list do you intend to test out?
• What was the determining factor in your decision to engage with a certain broker?
• Was it because of the A$ minimum deposit or the Pros and Cons?

 

Regardless, please share your thoughts in the comments below.

 

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• XM Review
• AvaTrade Review
• HFM Review
• IG Review
• CMC Markets Review

 

Frequently Asked Questions

 

Is forex trading legal in Australia?

Yes, forex trading is legal in Australia and is regulated by the Australian Securities and Investments Commission (ASIC). ASIC oversees forex brokers to ensure they adhere to strict regulatory standards.

 

What are the regulatory requirements for forex brokers in Australia?

Forex brokers operating in Australia must be licensed by ASIC. They are required to maintain adequate financial resources, provide transparent information about their services, and adhere to strict regulatory guidelines, including those related to client fund protection and leverage limits.

 

What is the maximum leverage allowed for forex trading in Australia?

As of recent regulations, the maximum leverage available for trading major currency pairs is 30:1, and for minor currency pairs, it is 20:1. These limits are designed to help manage risk and protect retail traders.

 

How can I verify if a forex broker is regulated by ASIC?

You can verify if a forex broker is regulated by ASIC by checking the ASIC Financial Services Register on their website. This register lists all licensed financial service providers and their regulatory status.

 

What are the protections for client funds with Australian forex brokers?

Australian forex brokers are required to hold client funds in segregated accounts, separate from the broker’s funds. This segregation helps ensure that client funds are protected in the event of the broker’s insolvency.

 

Are there any restrictions on the types of forex trading strategies I can use in Australia?

There are no specific restrictions on the types of forex trading strategies you can use. However, ASIC’s regulations on leverage and margin requirements may impact how certain strategies are implemented.

 

Do I need to pay taxes on my forex trading profits in Australia?

Yes, forex trading profits are subject to Australian tax laws. Traders are required to report their trading income and may be liable for capital gains tax or other relevant taxes based on their specific circumstances.

 

What types of forex trading platforms are available in Australia?

In Australia, you can access a variety of forex trading platforms, including proprietary platforms offered by brokers and popular third-party platforms like MetaTrader 4 and MetaTrader 5.

 

Can I open a forex trading account with an offshore broker in Australia?

While it is possible to open an account with an offshore broker, it is recommended to use brokers regulated by ASIC for greater security and protection. Offshore brokers may not offer the same level of regulatory oversight and client protection.

 

How do I get started with forex trading in Australia?

To get started with forex trading in Australia, you should choose a licensed and regulated forex broker, open a trading account, deposit funds, and familiarize yourself with the trading platform and forex market. It’s also advisable to educate yourself about forex trading strategies and risk management.