The best forex brokers in the online marketplace offer a wide range of currency pairs, low trading fees, and tight spreads.

Due to the fast-paced nature of the currency investment scene, top-rated forex brokers also offer notable trading and analysis tools, alongside a fully-fledged mobile app.

In this guide, we compare the overall best forex brokers in Australia to consider joining today.

The 10 Best Forex Brokers in Australia

The 10 best forex brokers in Australia are summarized in the list below:

  1. Capital.com – Overall Best Forex Broker in Australia
  2. eToro – Low-Cost Forex Broker With Copy Trading Tools
  3. Libertex – One of the Best Forex Trading Apps in the Market
  4. AvaTrade – Regulated Forex Broker That Supports MT4 and MT5
  5. Pepperstone – Best Forex Broker in Australia for Raw Spread Accounts
  6. Forex.com – Established Forex Broker With Competitive Fees
  7. XM – Multiple Forex Trading Accounts and Minimum Deposit Just $5
  8. HotForex – High Leverage Forex Broker Located Offshore
  9. IG Markets – Trusted Forex Broker With ASIC Regulation
  10. Interactive Brokers – Access to Interbank Currency Quotes

78.91% of retail investor accounts lose money when trading spread bets and/or CFDs with this provider.

To ensure our readers select the best forex broker in Australia for their trading requirements, we offer comprehensive reviews of the above providers in the following sections of this comparison guide.

Best Australian Forex Brokers Reviewed

The reviews below compare the best forex brokers in Australia for:

  • Supported markets
  • Commissions and spreads
  • Regulation
  • Trading tools
  • Payment methods
  • Minimum account balance
  • And more

1. Capital.com – Overall Best Forex Broker in Australia   

Capital.com review

Overall, we found that Capital.com is the best forex broker in Australia to consider today. This platform is regulated on multiple fronts, which not only includes a license with ASIC, but the FCA, CySEC, and NBRB. This means that investors in Australia can use Capital.com in a safe environment.

In total, Capital.com offers nearly 140 forex trading pairs. In addition to all majors and minors, this covers a huge selection of exotic currencies. The latter will appeal to those that seek enhanced volatility. We also like that Capital.com is a 0% commission platform, and spreads are typically very competitive.

For example, EUR/USD can be traded at a spread of just 0.6 pips as of writing. There are no fees to open an account at Capital.com or make a deposit/withdrawal. Capital.com offers several trading platforms to its registered users. First, there is the Capital.com web trading platform, which can be accessed through a standard web browser.

capital.com review

This comes packed with sophisticated trading tools, charts, real-time pricing, and technical indicators. Capital.com is also compatible with the third-party platform MT4. Those looking to buy and sell currency pairs on the move might consider downloading the Capital.com mobile app for iOS and Android.

Capital.com users are also treated to a range of analysis tools. This includes market insights, news, webinars, and an economic calendar. There is also Capital.com TV, which offers relevant financial and currency news developments via videos. In addition to forex, we like that Capital.com also offers stocks, commodities, indices, and cryptocurrencies.

As a forex trading platform that specializes in CFDs, Australian residents will have access to leverage of up to 1:30 when trading major pairs here. Minors and exotics can be traded with leverage of up to 1:20. There is the option to open a trade with a buy or sell order, which allows users to profit from rising and falling markets.

capital.com review

Getting started on this platform takes a matter of minutes and those depositing funds with a debit/credit card or e-wallet only need to meet a $20 minimum. However, bank wires require a minimum deposit of $250 and the payment can take several days to clear. Finally, there is also a Capital.com demo account that comes with a pre-loaded balance of $10,000 in paper funds.

FX Pairs 138
Commission 0% on all markets
EUR/USD Spread From 0.6 pips
Min Deposit $20
Top 3 Features Huge selection of pairs, low fees and tight spreads, ASIC-regulated

What We Like

  • Overall best forex broker in Australia
  • Trade forex with leverage
  • Regulated by ASIC, as well as the FCA, CySEC, and NBRB
  • Nearly 140 forex trading pairs
  • Great forex trading app
  • Also supports commodities, crypto, stocks, and indices
  • 0% commission and tight spreads

78.91% of retail investor accounts lose money when trading spread bets and/or CFDs with this provider.

2. eToro – Low-Cost Forex Broker With Copy Trading Tools

etoro review

The next platform to consider from our list of the best forex brokers in Australia is eToro. Just like Capital.com, this platform is heavily regulated. This includes licenses with ASIC, CySEC, SEC, and the FCA. The eToro platform has been operational since 2007 and is now utilized by more than 25 million clients.

We like that eToro offers a carefully selected range of major, minor, and exotic currency pairs. The forex trading suite offered by eToro operates on a spread-only pricing structure. This starts at 1 pip on major pairs like EUR/USD and USD/JPY.

As the forex trading department at eToro is offered via CFDs, Australian residents will have access to leverage. eToro is undeniably the best forex broker in Australia for passive trading. This is because the platform offers a Copy Trading tool, which enables users to mirror the positions of an experienced forex trader.

etoro review

For instance, let’s suppose that an eToro user decides to invest $1,000 into a forex trader with a solid history on the platform. The trader decides to risk 10% of their balance going short on EUR/USD. Automatically, the eToro user will replicate the same position at a stake of $100 – which is 10% of their $1,000 investment.

Crucially, the eToro Copy Trading tool is ideal for both inexperienced forex investors and those without the required time to research the markets. On top of forex, eToro also offers CFDs in the form of indices and commodities. However, where eToro really stands out is that it allows users to buy shares in Australia at 0% commission – from just $10 per trade.

Moreover, eToro is also a superb option for those looking to invest in cryptocurrency in Australia with low fees. Nonetheless, to start trading on the eToro platform, users can open an account in minutes and the minimum deposit is just $50. eToro supports payments via debit/credit cards, e-wallets, and bank transfers.

FX Pairs 49
Commission Spread-only
EUR/USD Spread From 1 pip
Min Deposit $50
Top 3 Features One of the best forex brokers for social trading, very competitive fees, user-friendly trading platform

What We Like

  • Regulated by multiple financial bodies – including ASIC
  • Very user-friendly trading platform
  • Spread-only forex trading model
  • Supports Copy Trading and Smart Portfolios
  • Top mobile app for iOS and Android
  • Also supports stocks, ETFs, cryptocurrencies, and commodities

Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider

3. Libertex – One of the Best Forex Trading Apps in the Market

Libertex logoThose in the market for the best forex trading app in Australia might want to consider Libertex. Available on both iOS and Android devices, the Libertex app is super user-friendly. It comes with a wide selection of notable trading tools, which is inclusive of fully-fledged pricing charts and market sentiment indicators.

Users can also access currency trading news and customizable pricing timeframes. We also found that Libertex is the best app for forex trading in Australia with low fees. For instance, major pairs like EUR/USD and GBP/USD can be traded without commission alongside a spread of 0.3 pips.

Libertex

Even exotic pairs are competitive, with the likes of USD/TRY offered at a spread of 1.2 pips and a commission of 0.0003%. Another reason why Libertex is perhaps the best forex trading app in Australia is that it allows users to deposit funds instantly via their smartphone. Options here include debit/credit cards, Paypal, and Trustly – all of which can be utilized fee-free.

In a similar nature to Capital.com and eToro, Libertex offers its forex trading instruments via CFDs. Once again, this means that Australians will have access to leverage of up to 1:30 – as per ASIC regulations. Finally, we should also note that Libertex offers real shares, as well as CFD markets on ETFs, commodities, indices, and more.

FX Pairs Dozens of majors, minors, and exotics
Commission From 0% on major pairs
EUR/USD Spread From 0.3 pips
Min Deposit $10
Top 3 Features Top mobile app, advanced trading tools, low fees

What We Like

  • Best forex trading app in Australia
  • Advanced trading and analysis tools
  • Great selection of forex markets
  • 0% commission on major pairs

Your capital is at risk. 70.8% of retail investor accounts lose money when trading CFDs with this provider.

4. AvaTrade – Regulated Forex Broker That Supports MT4 and MT5

AvaTrade logoAvaTrade is the next platform to consider when searching for the best forex broker in Australia. This platform is not only regulated by ASIC, but seven other financial bodies. AvaTrade accounts can be opened in less than two minutes and the minimum first-time deposit for Australians is just $100.

Supported payment methods at this platform include debit/credit cards and bank wires. AvaTrade is a CFD trading platform and thus – it offers Australian residents leverage of 1:30 and 1:20 on majors and minors/exotics respectively. In terms of its forex offering, AvaTrade is home to dozens of currency markets.

avatrade review

Each and every trading pair can be accessed on a commission-free basis and spreads start at 0.9 pips. Those with prior forex trading experience might consider AvaTrade for its compatibility with MT4 and MT5. Both of these platforms are favored by traders that seek high-level tools and features.

Less experienced traders might consider using the AvaTrade web trading platform – which can be accessed via a standard web browser. There is also an AvaTrade mobile app for iOS and Android. AvaTrade also offers CFDs in the form of stocks, indices, cryptocurrencies, and commodities.

FX Pairs 55
Commission 0%
EUR/USD Spread 0.9 pips
Min Deposit $100
Top 3 Features Support for MT4/5, advanced trading suite, 8 regulatory licenses

What We Like

  • Best MT5 forex broker
  • Compatible with DupliTrade
  • Leverage offered on all markets

5. Pepperstone – Best Forex Broker in Australia for Raw Spread Accounts

Pepperstone is the best Australian forex broker for those wishing to open a raw spread account. This particular account type allows Australian traders to buy and sell forex pairs with spreads that start from 0 pips.

This is achieved by trading directly with other market participants. In return for accessing zero spreads, Pepperstone users on this account type will pay a very competitive commission of $3.50 for every 1 currency lot traded. On the other hand, Pepperstone also offers standard forex trading accounts that come with commission-free trading.

Pepperstone review

This account type will subsequently require the trader to cover a spread, which starts at 0.6 pips. Either way, both accounts give Australian traders access to a wide variety of platforms. This is inclusive of MT4, MT5, cTrader, and TradingView. Pepperstone offers dozens of major, minor, and exotic pairs and the maximum leverage limit for retail clients in Australia is 1:30.

When it comes to funding, Pepperstone supports debit and credit card deposits, as well as BPay, POLi, bank transfers, and a variety of e-wallets. In addition to forex, Pepperstone offers a wide selection of other CFD markets, which is inclusive of commodities, shares, cryptocurrencies, and indices.

FX Pairs Dozens of majors, minors, and exotics
Commission $3.50 for 1 lot traded on raw spread account
EUR/USD Spread 0 pips on raw spread account
Min Deposit No minimum stated
Top 3 Features Raw accounts offer spreads from 0 pips, great reputation in Australia, multiple trading platforms

What We Like

  • Raw spreads from 0 pips on major pairs
  • Supports multiple trading platforms
  • 0% commission accounts are also available

6. Forex.com – Established Forex Broker With Competitive Fees  

forex.com review

Forex.com is perhaps the best forex broker in Australia for reputational purposes. This is because the platform has been operational since 2001 and it is regulated by several tier-one financial bodies.

We also like that Forex.com offers a huge trading library that consists of over 80 currency pairs. Forex trading markets on this platform are open on a 24/5 basis. When it comes to fees, Australian traders will not pay any commissions when speculating on forex. Spreads are very competitive here too, with the likes of EUR/USD starting at 0.5 pips.

forex.com review

Forex.com also offers a highly comprehensive news and analysis department. This is inclusive of forex trading ideas that have been compiled by experienced currency investors. We also like the ‘Week Ahead’ section that considers the most important economic developments to keep an eye on in the coming trading sessions.

Another reason to choose Forex.com is that it offers a top-rated educational academy. This allows complete beginners to learn the ropes of forex trading via interactive courses, platform tutorials, and self-assessment quizzes. Finally, Forex.com is also known for its quality customer service team that operates around the clock during standard currency trading hours.

FX Pairs 80+
Commission 0% on standard account
EUR/USD Spread From 0.5 pips on standard account
Min Deposit $100
Top 3 Features Specialist forex broker, no commissions charged on forex, top educational department

What We Like

  • Supports more than 80 currency pairs
  • One of the cheapest forex brokers in Australia
  • Great educational academy for beginners

7. XM – Multiple Forex Trading Accounts and Minimum Deposit Just $5   

xm review

The next platform to consider from our list of the best forex brokers in Australia is XM. This platform offers three core trading accounts – with all budgets and financial goals catered for. The cent account, for instance, is suitable for those that are just starting out in the world of forex.

This is because it allows traders to speculate on currency pairs from just 0.01 lots. This account comes with a minimum spread of 1 pip on major pairs. The XM ultra-low account also comes with a minimum trade requirement of 0.01 lots and spreads start from 0.6 pips.

XM review

Either way, all forex trading accounts at XM require a minimum deposit of just $5. Furthermore, all accounts offer commission-free trading. In total, XM offers more than 1,000 financial instruments – which is inclusive of 55 forex pairs. Other markets here include CFDs on indices, stocks, commodities, metals, and energies.

XM is also popular for its wide selection of supported trading platforms. This includes MT4 and MT5, as well as the native XM platform for both desktop browsers and iOS/Android smartphones. XM also offers a huge suite of educational and analysis tools, with the latter including market insights and trading ideas.

FX Pairs 55
Commission 0%
EUR/USD Spread From 0.6 pips
Min Deposit $5
Top 3 Features 16 platforms supported, minimum deposit just $5, 1,000+ financial instruments

What We Like

  • Trade more than 55+ forex pairs at 0% commission
  • Spreads start from just 0.6 pips
  • 16 trading platforms across PCs and smartphones

8. HotForex – High Leverage Forex Broker Located Offshore   

hotforex review

HotForex is the best forex trading platform in Australia for those seeking high leverage limits. The reason for this is that HotForex is located offshore and thus – it offers limits above the standard 1:30 threshold. In fact, the platform notes that leverage of up to 1:1000 is on offer.

This means that for every $100 staked, a trading platform of up to $100,000 can be entered. Do note that utilizing high leverage limits is extremely risky and can result in the entire stake being lost. Nonetheless, HotForex offers five trading accounts for registered users to choose from.

hotforex review

The micro account, which is designed for beginners and those on a budget, requires a minimum deposit of just $5. This offers spreads from 1 pip on major pairs. Alternatively, those depositing a minimum of $200 can open a zero spread account. While this comes with a lower maximum leverage limit of 1:500, no spreads are charged on major pairs like EUR/USD.

We also like that HotForex offers a fully-fledged demo account, which mirrors live market conditions. In total, the platform supports over 50 forex pairs, alongside a variety of other CFD markets. This includes metals, energies, indices, shares, bonds, and more. There are plenty of premium trading tools offered by this platform – which will suit experienced currency investors.

FX Pairs 50
Commission 0%
EUR/USD Spread From 0 pips on the raw account
Min Deposit From $5
Top 3 Features Zero spread accounts offered, premium trading tools, high leverage limits

What We Like

  • Leverage limits of up to 1:1000
  • Account minimums start from just $5
  • One of the best forex brokers with low spreads

9. IG Markets – Trusted Forex Broker With ASIC Regulation

ig markets review

IG Markets is a trusted online broker that supports over 80 forex pairs. This covers a good blend of majors, minors, and exotics. Customer support is offered on a near 24/7 basis and accounts can be opened in a matter of minutes.

Those opting for a DMA forex account will pay a commission of just $10 for every $1 million traded. The minimum spread payable on EUR/USD is 0.6 pips. But, this can surpass 1 pip outside of core trading hours. Margin accounts at IG Markets come with a maximum leverage limit of 1:30 for retail clients in Australia.

ig markets review

Those with a professional-client status will be offered much higher limits. We also like that IG Markets gives its users access to multiple trading platforms. In addition to its own native web-based platform, this also includes support for MT4 and ProRealTime. The IG app for iOS and Android is also worth considering, which offers full account functionality.

IG Markets is also great when it comes to financial analysis, with the platform offering real-time news, trading ideas, and economic insights. It is also possible to keep tabs on core financial events via its economic calendar. The main drawback with IG Markets is that new customers are required to meet a minimum deposit threshold of $250.

FX Pairs 80+
Commission $10 for every $1 million traded
EUR/USD Spread From 0.6 pips
Min Deposit $250
Top 3 Features Established in 1974, mobile app with full functionality, near-24/7 customer support

What We Like

  • One of the best Australian regulated forex brokers for trust 
  • Competitive commissions
  • Great mobile app with full functionality

10. Interactive Brokers – Access to Interbank Currency Quotes 

interactive brokers review

The final provider to consider from our list of the best Australia forex trading platforms is Interactive Brokers. Although this platform is primarily headquartered in the US, it has exposure in multiple countries –  including Australia.

Put simply, Interactive Brokers is best suited for serious forex traders. The reason for this is that the provider offers direct access to interbank currency rates. This means that traders will be able to speculate on currency markets with super tight spreads – which start from 1/10 of a pip.

interactive brokers review

This also means that Interactive Brokers offers some of the deepest liquidity in this marketplace. There is an abundance of professional trading tools offered via this platform, which is inclusive of economic indicators and customizable charts. In total, Interactive Brokers supports more than 100 currency pairs.

Commissions are charged at between 0.08 and 0.2 bps, depending on the market. Interactive Brokers is also perhaps the best forex broker in Australia for those that wish to diversify into other asset classes. The platform supports more than 10,000 financial instruments across stocks, ETFs, options, futures, bonds, mutual funds, and more.

FX Pairs 100+
Commission Between 0.08 and 0.2 bps
EUR/USD Spread From 1/10 of a pip
Min Deposit Not stated
Top 3 Features Access to interbank FX rates, deep liquidity, heavily regulated

What We Like

  • Australian traders can access deep liquidity levels
  • Spreads start from just 1/10th of a pip
  • Access to the interbank wholesale market

Top Australian Forex Trading Platforms Compared

For a comparison of the top Australian forex brokers, check out the table below.

Forex Brokers FX Pairs Commission EUR/USD Spread Min Deposit Non-Trading Fees Min Lot Size Top 3 Features
Capital.com 138 0% 0.6 pips $20 None 0.01
Huge selection of pairs, low fees and tight spreads, ASIC-regulated
eToro 49 Spread-only 1 pip $50 0.5% on non-USD deposits, $10 inactivity fee 0.01
Copy trading tool, very competitive fees, user-friendly trading platform
Libertex Dozens of majors, minors, and exotics From 0% 0.3 pips $10 None $10 min
Best forex app in Australia, advanced trading tools, low fees
AvaTrade 55 0% 0.9 pips $100 $50 inactivity fee $100 min
Support for MT4/5, advanced trading suite, 8 regulatory licenses
Pepperstone Dozens of majors, minors, and exotics $3.50 for 1 lot traded on raw spread account 0 pips on raw spread account No minimum stated None 0.01
Raw accounts offer spreads from 0 pips, great reputation in Australia, multiple trading platforms
Forex.com 80 0% From 0.1 pips $100 $40 on bank wire withdrawals, $15 inactivity fee 0.01
Specialist forex broker, no commissions charged on forex, top educational department
XM 55 0% From 0.6 pips From $5 $5 inactivity fee 0.01
16 platforms supported, minimum deposit just $5, 1,000+ financial instruments
HotForex 50 0% From 0 pips on the raw account From $5 None 0.01
Zero spread accounts offered, premium trading tools, high leverage limits
IG Markets 80 $10 for every $1 million traded From 0.6 pips $250 1% on Visa, 0.5% on MasterCard, $18 inactivity fee $1 per point
Established in 1974, mobile app with full functionality, near-24/7 customer support
Interactive Brokers 100 Between 0.08 and 0.2 bps From 1/10 of a pip No minimum stated 1% on physical currency deposits $25,000 min
Access to interbank FX rates, deep liquidity, heavily regulated

78.91% of retail investor accounts lose money when trading spread bets and/or CFDs with this provider.

When considering which forex broker is the best in Australia, be sure to check the above figures before proceeding. 

How we Select the Best Australian Forex Brokers

Choosing the best forex broker in Australia can be a time-consuming and stressful task.

To fast-track the process, below we explain the main criteria to look for when researching forex brokers.

Regulation

The most important thing to consider when choosing the best forex broker in Australia is whether or not the provider is regulated.

To offer some insight, the likes of Capital.com and eToro are both authorized and regulated by ASIC, alongside a number of other tier-one financial bodies.

This means that Australian traders can speculate on the future direction of forex pairs in a safe ecosystem. ASIC regulation also ensures that Australian retail clients do not have access to leverage limits above 1:30.

Range of Pairs

As the comparison table above highlighted, the best forex brokers in Australia will offer a large number of trading pairs. Virtually all of the platforms that we reviewed cover all major and minor currencies.

Then it’s just a case of exploring what exotic currency pairs the platform supports, should more volatility be required. It is also worth seeing whether or not the broker offers more sophisticated financial instruments – such as CFDs, futures, and options.

Fees 

Fees are charged by all forex brokers. Otherwise, they wouldn’t be in the business of offering currency trading services.

The main fees to check when searching for the best forex brokers in Australia are as follows:

Commissions

Many of the forex brokers discussed today do not charge trading commissions. Instead, they operate a spread-only model – which we discuss shortly. Nonetheless, those that do charge commissions often do so on a per-lot basis.

For example, Pepperstone charges $3.50 for every 1 currency lot traded – which consists of 100,000 units. IG Markets, on the other hand, charges $10 for every $1 million traded.

capital.com review

Libertex operates a percentage-based commission model. For instance, while major pairs can be traded at 0% commission, exotics like USD/TRY will cost 0.0003% for the total stake amount.

Spreads

Two of the best forex brokers in Australia that we came across – Capital.com and eToro, do not charge any trading commissions. Instead, users simply need to cover the spread when placing a buy and sell order.

This simply refers to the gap between the bid and ask price of the respective currency pair. Crucially, the best forex brokers in Australia offer tight spreads alongside a commission-free pricing model.

Leverage Fees

Those in the market for leverage will need to remember that this will attract a daily funding charge.

The exact rate will not only vary from one broker to another, but on the pair, account type, stake, and the amount of leverage being utilized.

Funding

Before trading, users will be required to make a deposit into their respective forex broker accounts. At Capital.com, Australian traders can deposit and withdraw funds across all supported payment methods without incurring any fees.

However, some of the forex brokers that we came across charge fees on certain payment methods, or to convert AUD into a major currency like USD or EUR.

Trading and Analysis Tools

Forex pairs rise and fall in value on a 24/7 basis, second by second. This means that traders will need to have access to certain tools so that they can make informed investment decisions.

Those looking for historical pricing trends will likely want to choose a forex broker that offers technical indicators and customizable charts. In addition to this, fundamental tools are important too.

capital.com review

For example, at Capital.com, the platform offers financial news, market insights, and even an economic calendar. The platform is also compatible with MT4, which comes packed with high-level analysis features.

Another top-rated feature to consider is the eToro Copy Trading facility. In a nutshell, this allows Australian investors to mirror the positions of an experienced forex trader, like-for-like.

For example:

  • Let’s say that the user decides to invest $5,000 into a seasoned swing trader on eToro
  • The trader risks 5% of their capital going long on AUD/USD
  • This means that the eToro user copies the trade automatically, at a stake of $250 (5% of $5,000)
  • A few days later, the trader closes the position at a profit of 10%
  • The eToro user automatically closes the trade and also makes a 10% profit – or $25.

Ultimately, Copy Trading will suit newbie forex traders that have little to no experience in buying and selling currencies.

Minimum Deposit

At one end of the scale, we came across forex brokers like IG Markets, which require a high minimum deposit of $250 to get started with an account.

On the other hand, there are also platforms like Capital.com, which require a minimum first-time deposit of just $20 when funding an account with an e-wallet or debit/credit card.

Beginners are advised to select a forex broker that has a minimum deposit requirement that meets their trading skills and investment budget.

Demo Account

Anyone without a solid background in forex trading should consider opening an account with a broker that offers a demo facility. This will allow the user to trade currency pairs in a 100% risk-free environment.

Not only that, but the best demo accounts in this space will mirror actual market conditions. This will allow the trader to practice different strategies and ultimately – get to grips with how the forex market works.

At Capital.com, for example, all registered users get access to a $10,000 demo trading facility. eToro goes one step further by offering users a $100,000 pre-loaded balance.

Mobile App

Another core feature offered by the best forex brokers in Australia is a fully optimized mobile app for iOS and Android.

This should offer all of the same features as available on the main desktop platform – such as being able to place buy and sell orders, perform market research, request a deposit or withdrawal, and more.

The best forex broker apps in this space are super user-friendly and will not hinder the trading experience just because a smaller screen is being utilized.

Customer Service

Traders of all skill sets should look for a forex broker that offers top-rated customer service. Many of the best brokers for forex that we reviewed today offer support on at least a 24/6 basis to mirror the global currency trading market.

If live chat is available, this is an added bonus.

Best Forex Signals in Australia

We mentioned earlier that those searching for the best forex broker for beginners in Australia might consider using the eToro Copy Trading feature – should they wish to speculate on currency pairs without any prior experience.

With that said, another option available in this marketplace is forex signals. In a nutshell, signals are trading suggestions sent by experienced currency investors to their members.

Each forex signal will inform the member which currency pair should be traded and whether a long or short position should be entered. Popular signal providers like Learn2Trade will also offer a suggested limit, stop-loss, and take-profit order price.

learn2.trade best forex signals

In doing so, this allows inexperienced investors to actively trade forex but without needing to do any technical or fundamental analysis – which can take many years to truly master.

Those wishing to give forex signals a go might consider the 30-day moneyback guarantee offered by Learn2Trade on its premium plans.

This comes with up to three forex signals per day at a reported win rate of 76% since Learn2Trade began its operations more than a decade ago. Learn2Trade also offers the best indicators for forex scalping.

Your capital is at risk. 

How to Start Forex Trading in Australia

The currency trading market is by far the largest investment scene globally, with an estimated daily volume of over $5 trillion. However,  those that are new to this marketplace might require a bit of guidance in getting started.

If so, the guide below explains how to open an account with Capital.com in under five minutes, before making an instant deposit and placing a forex trading order.

Step 1: Open a Capital.com Forex Broker Account 

First, new customers will need to open a Capital.com trading account.

This requires some personal information surrounding the user’s name, nationality, residential address, date of birth, and contact details.

Step 2: Upload ID

Capital.com requires newly registered users to upload a form of ID. This can either be a driver’s license or a passport.

Step 3: Deposit Funds

Next, the user will need to make a deposit into their Capital.com account. Bank wires are worth avoiding here, as the minimum deposit is high at $250 and the funds can take several days to arrive.

Instead, both debit/credit cards and e-wallets require a minimum of just $20 – and the deposit is processed instantly. All payment methods supported by Capital.com are fee-free.

Step 4: Search for Forex Pair

Capital.com is home to nearly 140 forex pairs. As such, rather than scrolling through many pages of available markets, it is best to use the search bar at the top of the page.

how to use capital.com

In our example above, we are searching for EUR/AUD. This means that we are looking to trade the euro against the Australian dollar.

Step 5: Trade Forex

The final part of this walkthrough will require the user to place a forex trading order.

  • A ‘buy’ order should be selected if the user believes that the value of the pair will rise
  • A ‘sell’ order should be selected if the user believes that the value of the pair will fall

Next, enter an investment stake into the relevant box. The user can also enter the price that they wish the trade to be executed at via a limit order. Otherwise, the order will be executed instantly at the next best available price.

how to use capital.com

All forex trading orders at Capital.com are commission-free.

Conclusion

This beginner’s guide has compared and ranked the best forex brokers in Australia right now. The core metrics that our review team focused on include fees and commissions, supported pairs, regulation, and the availability of trading tools.

To start trading currencies today with a leading forex broker – consider Capital.com. This ASIC-regulated platform offers nearly 140 major, minor, and exotic pairs – all of which can be traded at 0% commission and tight spreads.

Capital.com review

78.91% of retail investor accounts lose money when trading spread bets and/or CFDs with this provider.

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