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Forex brokers in Australia

38 of the 97 brokers we rate hold a licence from the Australian Securities and Investments Commission (ASIC), and 84 in total will open an account for someone in Australia. The gap between those two numbers is the most useful thing on this page.

How this page is builtWe hold each broker's own list of the countries it will not serve, so "accepts you" means "does not exclude you" - not a promise your application will be approved. Local regulation is read from the licences each broker publishes. Both lists are in rating order, and brokers holding no licence at all are left off entirely.

Regulated in Australia

These 38 brokers hold a licence from the Australian Securities and Investments Commission (ASIC). That is a different proposition from a broker that merely accepts your application: a regulator in your own country supervises the entity holding your money, and you have somewhere local to complain when it goes wrong.

  1. IC Markets logoIC MarketsASICCySEC+39.5/10Get startedFind out more
  2. AvaTrade logoAvaTradeCentral Bank of IrelandASIC+89.2/10Get startedFind out more
  3. XM logoXMCySECASIC+39.1/10Get startedFind out more
  4. Plus500 logoPlus500FCAASIC+138.9/10Get startedFind out more
  5. Admirals logoAdmiralsFCACySEC+68.9/10Get startedFind out more
  6. eToro logoeToroFCACySEC+58.8/10Get startedFind out more
  7. Eightcap logoEightcapASICFCA+48.7/10Get startedFind out more
  8. easyMarkets logoeasyMarketsCySECASIC+38.6/10Get startedFind out more
  9. MultiBank Group logoMultiBank GroupASICMAS+68.5/10Get startedFind out more
  10. GO Markets logoGO MarketsASICCySEC+18.3/10Get startedFind out more

The ten highest rated of 38. The rest appear in the full list below.

What that licence actually protects

ASIC obliges a broker to hold client money in a segregated trust account, provide negative balance protection to retail clients, and meet capital requirements it supervises directly.

Retail leverage is capped at 1:30 on major currency pairs. Brokers advertising far more are offering it through entities outside Australia, and which entity takes your account is decided by where you live rather than by which you would prefer.

There is no statutory compensation scheme of the FSCS kind, but disputes go to the Australian Financial Complaints Authority, whose determinations bind the firm.

None of it protects you from losing money on your own trades. It protects you from the firm failing, misusing client money or refusing to deal with a complaint - the risks you cannot manage yourself.

Trust metrics for brokers regulated in Australia
BrokerRegulatorsFoundedClient money segregatedNegative balance protectionCompensation scheme
IC Markets logoIC Markets9.5ASICCySECFSA (Seychelles)+22007YesYesICF up to €20,000 for eligible EU clients; Raw Trading Ltd insolvency insurance up to US$1,000,000
AvaTrade logoAvaTrade9.2Central Bank of IrelandASICFSA (Japan)+72006YesYesIrish Investor Compensation Scheme for eligible EU clients; no compensation scheme under several international entities
XM logoXM9.1CySECASICDFSA (DIFC)+22009YesYesICF up to €20,000 for eligible CySEC clients
Plus500 logoPlus5008.9FCAASICCySEC+122008YesYesFSCS up to £85,000 for eligible UK clients; ICF up to €20,000 for eligible Cyprus clients
Admirals logoAdmirals8.9FCACySECASIC+52001YesYesFSCS up to £85,000 for eligible UK clients; ICF up to €20,000 for eligible Cyprus clients; additional insurance up to €100,000 under applicable entity
eToro logoeToro8.8FCACySECASIC+42007YesYesFSCS up to £85,000 for eligible UK clients; ICF up to €20,000 for eligible EU clients; SIPC up to $500,000 including $250,000 cash for eligible US securities clients
Eightcap logoEightcap8.7ASICFCACySEC+32009YesYesFSCS up to £85,000 for eligible UK clients; ICF up to €20,000 for eligible EU clients
easyMarkets logoeasyMarkets8.6CySECASICFSA (Seychelles)+22001YesYesICF up to €20,000 for eligible CySEC clients
MultiBank Group logoMultiBank Group8.5ASICMASCySEC+52005YesYesLloyd's of London excess-loss insurance up to $1 million per account under MEX Atlantic; statutory protection varies by entity
GO Markets logoGO Markets8.3ASICCySECFSC (Mauritius)2006YesYesICF up to €20,000 for eligible CySEC clients; no statutory investor compensation scheme under ASIC

Every broker that accepts clients in Australia

84 brokers, in rating order. The 38 with a local licence are included here too, so this is the whole picture rather than the remainder.

  1. IC Markets logoIC MarketsASICCySEC+39.5/10Get startedFind out more
  2. AvaTrade logoAvaTradeCentral Bank of IrelandASIC+89.2/10Get startedFind out more
  3. XM logoXMCySECASIC+39.1/10Get startedFind out more
  4. FxPro logoFxProFCACySEC+39.1/10Get startedFind out more
  5. Markets.com logoMarkets.comCySECFSCA (South Africa)9.0/10Get startedFind out more
  6. Plus500 logoPlus500FCAASIC+138.9/10Get startedFind out more
  7. Admirals logoAdmiralsFCACySEC+68.9/10Get startedFind out more
  8. eToro logoeToroFCACySEC+58.8/10Get startedFind out more
  9. Eightcap logoEightcapASICFCA+48.7/10Get startedFind out more
  10. easyMarkets logoeasyMarketsCySECASIC+38.6/10Get startedFind out more
  11. MultiBank Group logoMultiBank GroupASICMAS+68.5/10Get startedFind out more
  12. HF Markets logoHF MarketsFCACySEC+58.5/10Get startedFind out more
  13. FXTM logoFXTMFSC (Mauritius)FSCA (South Africa)+18.3/10Get startedFind out more
  14. GO Markets logoGO MarketsASICCySEC+18.3/10Get startedFind out more
  15. CMC Markets logoCMC MarketsFCAASIC+58.0/10Get startedFind out more
  16. IG logoIGFCAASIC+88.0/10Get startedFind out more
  17. Saxo Bank logoSaxo BankFSA (Denmark)FCA+78.0/10Get startedFind out more
  18. FXOpen logoFXOpenFCACySEC7.9/10Get startedFind out more
  19. FP Markets logoFP MarketsASICCySEC+47.9/10Get startedFind out more
  20. Capital.com logoCapital.comFCAASIC+37.9/10Get startedFind out more
  21. Moneta Markets logoMoneta MarketsFCAFSCA (South Africa)+27.8/10Get startedFind out more
  22. Libertex logoLibertexCySECBaFin7.8/10Get startedFind out more
  23. Axi logoAxiASICFCA+27.8/10Get startedFind out more
  24. Tickmill logoTickmillFCACySEC+37.8/10Get startedFind out more
  25. ACY Securities logoACY SecuritiesASICFSCA (South Africa)7.8/10Get startedFind out more
  26. Fusion Markets logoFusion MarketsASICFSA (Seychelles)+17.8/10Get startedFind out more
  27. TMGM logoTMGMASICVFSC (Vanuatu)+27.7/10Get startedFind out more
  28. FOREX.com logoFOREX.comCFTC/NFAFCA+67.7/10Get startedFind out more
  29. Swissquote logoSwissquoteFINMAFCA+57.7/10Get startedFind out more
  30. Dukascopy logoDukascopyFINMAFSA (Japan)+17.7/10Get startedFind out more
  31. ActivTrades logoActivTradesFCAFSC (Mauritius)+17.7/10Get startedFind out more
  32. Exness logoExnessCySECFCA+97.7/10Get startedFind out more
  33. Blueberry Markets logoBlueberry MarketsASICFSC (Mauritius)+17.6/10Get startedFind out more
  34. Charles Schwab logoCharles SchwabSECFINRA+17.6/10Get startedFind out more
  35. EC Markets logoEC MarketsFCAASIC+37.6/10Get startedFind out more
  36. FXCM logoFXCMFCAASIC+27.6/10Get startedFind out more
  37. Webull logoWebullSECFINRA+17.6/10Get startedFind out more
  38. HYCM logoHYCMFCADFSA (DIFC)7.6/10Get startedFind out more
  39. Trade.com logoTrade.comCySECFCA+27.5/10Get startedFind out more
  40. XTB logoXTBKNFFCA+37.5/10Get startedFind out more
  41. InstaForex logoInstaForexFSC (BVI)7.5/10Get startedFind out more
  42. AAAFx logoAAAFxMISA (Comoros)7.4/10Get startedFind out more
  43. T4Trade logoT4TradeFSA (Seychelles)7.4/10Get startedFind out more
  44. STARTRADER logoSTARTRADERASICFSCA (South Africa)+37.4/10Get startedFind out more
  45. LiteFinance logoLiteFinanceCySECFSC (Mauritius)7.4/10Get startedFind out more
  46. Questrade logoQuestradeCIRO7.4/10Get startedFind out more
  47. Mitrade logoMitradeASICCySEC+47.3/10Get startedFind out more
  48. Octa logoOctaCySECFSC (Mauritius)+27.3/10Get startedFind out more
  49. ATFX logoATFXFCAASIC+77.3/10Get startedFind out more
  50. Fortrade logoFortradeFCAASIC+47.3/10Get startedFind out more
  51. Focus Markets logoFocus MarketsASICFSC (Mauritius)7.2/10Get startedFind out more
  52. FXCC logoFXCCCySECMISA (Comoros)+17.2/10Get startedFind out more
  53. FXORO logoFXOROCySEC7.2/10Get startedFind out more
  54. Global Prime logoGlobal PrimeASICVFSC (Vanuatu)7.2/10Get startedFind out more
  55. tastyfx logotastyfxCFTCNFA7.2/10Get startedFind out more
  56. Accendo Markets logoAccendo MarketsFCA7.2/10Get startedFind out more
  57. Fineco logoFinecoBank of ItalyCONSOB+17.2/10Get startedFind out more
  58. ATC Brokers logoATC BrokersFCACIMA (Cayman Islands)+17.1/10Get startedFind out more
  59. Spreadex logoSpreadexFCA7.1/10Get startedFind out more
  60. Trade Nation logoTrade NationFCAASIC+47.1/10Get startedFind out more
  61. Capital Index logoCapital IndexFCA7.1/10Get startedFind out more
  62. VT Markets logoVT MarketsASICFSCA (South Africa)+27.1/10Get startedFind out more
  63. TopFX logoTopFXCySECFSC (BVI)+17.0/10Get startedFind out more
  64. ADS Securities logoADS SecuritiesCMA (UAE)7.0/10Get startedFind out more
  65. IC Trading logoIC TradingFSC (Mauritius)7.0/10Get startedFind out more
  66. iFOREX logoiFOREXCySECFSC (BVI)7.0/10Get startedFind out more
  67. NordFX logoNordFXFSA (Seychelles)FSC (Mauritius)6.9/10Get startedFind out more
  68. Orbex logoOrbexFSC (Mauritius)FSA (Seychelles)6.9/10Get startedFind out more
  69. Xtrade logoXtradeFSC (Belize)FSCA (South Africa)6.9/10Get startedFind out more
  70. PU Prime logoPU PrimeFSA (Seychelles)FSC (Mauritius)+26.8/10Get startedFind out more
  71. Fintrix Markets logoFintrix MarketsFSC (Mauritius)6.8/10Get startedFind out more
  72. BDSwiss logoBDSwissFSA (Seychelles)FSC (Mauritius)6.7/10Get startedFind out more
  73. FXCess logoFXCessNot on record6.7/10Get startedFind out more
  74. FXChoice logoFXChoiceFSC (Belize)6.6/10Get startedFind out more
  75. FXDD logoFXDDNot on record6.6/10Get startedFind out more
  76. Interactive Brokers logoInteractive BrokersSFC (Hong Kong)6.5/10Get startedFind out more
  77. Pepperstone logoPepperstoneASICFCA+56.5/10Find out more
  78. OANDA logoOANDACFTC/NFAFCA+46.4/10Get startedFind out more
  79. Equiti logoEquitiFCASCA (UAE)+46.4/10Get startedFind out more
  80. Vantage logoVantageASICFCA+36.4/10Get startedFind out more
  81. City Index logoCity IndexFCAASIC+16.3/10Get startedFind out more
  82. Trading 212 logoTrading 212FCABaFin+36.3/10Get startedFind out more
  83. BlackBull Markets logoBlackBull MarketsFMA (New Zealand)FSA (Seychelles)6.2/10Get startedFind out more
  84. FBS logoFBSFSC (Belize)6.1/10Get startedFind out more

Funding an account from Australia

10 of these brokers record PayID, BPAY and POLi among their funding methods. A domestic transfer is usually same-day and free where an international wire is neither, so it is worth more than it looks when two brokers are otherwise close.

Check the withdrawal routes as well as the deposit ones. They are frequently not the same list, anti-money-laundering rules generally require funds to return the way they arrived, and the difference only becomes apparent at the point you want your money back.

Trading from Australia

  • It is better protected, which is not quite the same thing. ASIC obliges a broker to hold client money in a segregated trust account, provide negative balance protection to retail clients, and meet capital requirements it supervises directly.

    There is no statutory compensation scheme of the FSCS kind, but disputes go to the Australian Financial Complaints Authority, whose determinations bind the firm.

    None of that protects you from losing money on your own trades. It protects you from the firm failing or misbehaving, which are the risks you cannot manage yourself.

It is better protected, which is not quite the same thing. ASIC obliges a broker to hold client money in a segregated trust account, provide negative balance protection to retail clients, and meet capital requirements it supervises directly.

There is no statutory compensation scheme of the FSCS kind, but disputes go to the Australian Financial Complaints Authority, whose determinations bind the firm.

None of that protects you from losing money on your own trades. It protects you from the firm failing or misbehaving, which are the risks you cannot manage yourself.