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Forex (currency) trading in Australia is popular with residents and international traders looking for a broker based in Australia. Before any fx broker in Australia can accept forex and CFD traders, they must be authorized by the Australian Securities & Investments Commission (ASIC), which is the regulator of financial markets in Australia. The ASIC website is asic.gov.au. We recommend users also follow ASIC on Twitter, @ASIC_Connect.
After the Australian Securities Commission (founded in 1991) was dissolved, ASIC was created in 1998 as the national regulatory authority reporting to the treasury and administering legislation for the Insurance Act 1984, the Corporations Act 2001, and the National Consumer Credit Protection Act . Act of 2009. For historical details, here’s a link to the ASIC webpage on Wikipedia.
Best Australian Forex Brokers
To find the best forex brokers in Australia, we created a list of all ASIC authorized brokers, then ranked the brokers by their Overall rating. Here is our list of the top Australian forex brokers.
- IG – The best, most trusted overall broker
- Saxo Bank – The best web-based forex trading platform
- Interactive Broker – Overall good, best for professionals
- CMC Markets – Overall very good, best platform technology
- City Index – Great all-in-one offering
- eToro – Best for crypto copying and trading
- AvaTrade – Great for beginners and copier trades
Australian Forex Brokers Comparison
Compare Australian forex and CFD brokers side by side using the forex broker comparison tool or the summary table below. This list of brokers is sorted by the overall rating of ForexBrokers.com companies.
How to Verify ASIC Authorization
To identify whether a forex broker is ASIC regulated, the first step is to identify the register number from the disclosure text at the bottom of the Australian broker’s homepage. For example, here’s the main disclosure text from the Pepperstone website:
Pepperstone Group Limited is registered in Australia at Level 5, 530 Collins Street, Melbourne, VIC 3000, and is licensed and regulated by the Australian Securities and Investments Commission. Pepperstone Group Limited | ACN 147 055 703 | AFSL No.414530.
Next, look up the company number on the ASIC website to validate their current regulatory status. This is the official ASIC page for Pepperstone.
Methodology Forex Trading
For our 2023 Forex Brokers Review we rated, rated and rated 60+ international forex brokers over a three month time period resulting in over 50,000 words of published research.
Each broker is rated on 113 different variables, including our proprietary Trust Score algorithm. This innovative rating system ranks the level of trust for each broker based on factors such as licenses, regulations and company structure. Read more about Trust Score here.
As part of our annual review process, all brokers have the opportunity to provide key updates and milestones and complete an in-depth data profile, which we check for accuracy.
Ultimately, our rigorous data validation process results in an error rate of less than 0.1% annually, giving site visitors quality data they can trust. Learn more about how we test.
Forex Risk Disclaimer
There is a very high level of risk involved in trading securities. With respect to the trading of margin-based foreign exchange, off-exchange derivatives and cryptocurrencies, there are considerable risks, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility which could substantially impact prices, or the liquidity of a currency or related instrument. It should not be assumed that the methods, techniques or indicators presented in this product will be profitable, or that they will not lead to losses. Read more about the risks of forex trading.