7 Best Forex Brokers in Australia for 2025

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Adam Woodhead
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Adam Woodhead

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Adam is a Co-Founder and content creator for The Investors Centre. His key areas of interest and expertise are cryptocurrency and blockchain technology.

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Thomas Drury
Thomas Drury

Thomas Drury

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Seasoned finance professional with 10+ years' experience. Chartered status holder. Proficient in CFDs, ISAs, and crypto investing. Passionate about helping others achieve financial goals.

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Updated 09/01/2025

Quick Answer: Best Forex Brokers in Australia

eToro stands out as the best forex broker in Australia for 2025. It offers an intuitive platform, innovative social trading tools, and strong regulatory oversight through ASIC, making it ideal for both beginners and experienced traders.

Featured Broker - eToro

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Best Forex Brokers in Australia for 2025

  1. eToro – Social trading with top-tier tools.
  2. Pepperstone – Low spreads and fast execution.
  3. Admirals – Advanced tools for serious traders.
  4. Interactive Brokers – Best for professional portfolios.
  5. Saxo – Premium services for high-net-worth traders.
  6. AvaTrade – Ideal for beginners with great education.
  7. CMC Markets – Comprehensive analysis and research tools.

Getting started with forex trading can be daunting. From hidden fees to user-unfriendly platforms, I’ve learned many lessons the hard way. This guide brings together my personal experiences and in-depth research to rank the best forex brokers in Australia for 2025. Whether you’re new to trading or a seasoned pro, these brokers offer a combination of safety, features, and value.

Comparison of Forex Brokers in Australia

RankBrokerRegulationSpreads fromCommission per LotForex Pairs AvailablePlatform Features
#1eToroASIC1.0 pipsNone50+Social trading, user-friendly platform, multi-asset support.
#2PepperstoneASIC, FCA, CySEC0.0 pips (Razor)$3.5060+MetaTrader 4/5, cTrader, tight spreads, advanced tools.
#3AdmiralsASIC, FCA0.5 pips$3.0040+MetaTrader Supreme Edition, advanced analytics.
#4Interactive BrokersASIC, CFTC, FCAVariable$2.00100+Advanced order types, portfolio management, low-cost trading.
#5SaxoASIC, FCA0.6 pips$3.50180+Premium interface, extensive market access, high customisation.
#6AvaTradeASIC, IIROC1.3 pipsNone55+AvaProtect risk management, MT4/5 integration, simple interface.
#7CMC MarketsASIC0.7 pipsNone330+Advanced charting tools, economic indicators, user-friendly.
  • Key Notes:

    1. Spreads and Commission:
      • Pepperstone leads with spreads as low as 0.0 pips on Razor accounts, while others like AvaTrade and eToro have wider spreads but no commission.
      • Brokers like Saxo and Interactive Brokers offer competitive spreads for high-volume trades but charge commissions.
    2. Platform Features:
      • eToro: Ideal for beginners with its social trading and intuitive interface.
      • Pepperstone and Admirals: Best for advanced traders with MetaTrader integration and analytics tools.
      • AvaTrade: Simplified for new traders, featuring AvaProtect to mitigate risk.
      • Saxo and CMC Markets: Offer premium-level tools, appealing to professionals.
    3. Forex Pairs Available:
      • CMC Markets leads with over 330 forex pairs, followed by Saxo at 180+ pairs, catering to traders seeking diversity.
      • Brokers like Interactive Brokers and Pepperstone offer a balanced range for traders focused on majors and minors.

The 7 Best Forex Brokers in Australia

#1 eToro: Best Overall Broker for Social Trading

Why Is It Ranked #1?

eToro is the leader in social trading, making it perfect for beginners who want to learn from experienced traders. I started using eToro’s CopyTrader feature, and it allowed me to replicate the strategies of top traders, accelerating my learning curve. Its intuitive platform and multi-asset offering further strengthen its appeal.

What Are the Pros & Cons?

eToro charges no commissions on trades, but its spreads average 1.0 pips for EUR/USD. A $5 withdrawal fee applies, and accounts incur a $10 inactivity fee after 12 months of non-use.

eToro’s proprietary platform is sleek and web-based, with a mobile app for trading on the go. Its standout CopyTrader feature makes it unique, especially for new traders seeking guidance.

As an ASIC-regulated broker, eToro ensures the safety of client funds by storing them in segregated accounts. It also uses robust encryption to protect user data, making it a trusted choice for Australian traders.

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#2 Pepperstone: Best for Low Spreads

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Why Is It Ranked #2?

Pepperstone is renowned for its low spreads and fast execution, making it ideal for scalpers and day traders. I’ve used their Razor account during volatile sessions and consistently benefited from their tight spreads and speed.

What Are the Pros & Cons?

Pepperstone offers spreads starting from 0.0 pips on its Razor account, with a $3.50 commission per lot. The Standard account is commission-free but has wider spreads.

Pepperstone supports MetaTrader 4/5, cTrader, and TradingView. These platforms offer flexibility and robust tools for traders who prefer advanced setups.

Fully ASIC-regulated, Pepperstone segregates client funds in Tier 1 banks, ensuring security and compliance with Australian laws.

admirals logo

#3 Admirals: Best for Advanced Tools

Most retail investor accounts lose money when trading financial instruments. Ensure you fully understand the risks before investing.Take 2 mins to learn more.

Why Is It Ranked #3?

Admirals shines for its advanced tools and analytics. Its MetaTrader Supreme Edition helped me refine my trading strategies by offering in-depth market sentiment tools and customisable charts.

What Are the Pros & Cons?

Admirals offers spreads from 0.5 pips on its Zero.MT4 account, with a $3.00 commission per lot. Pricing is transparent, catering well to experienced traders.

Admirals enhances MetaTrader 4/5 with the Supreme Edition, providing tools like risk management calculators, advanced charts, and trade simulators.

As an ASIC-regulated broker, Admirals prioritises client safety by holding funds in segregated accounts and undergoing regular audits.

Interactive brokers logo in red

#4 Interactive Brokers: Best for Professional Traders

Most retail investor accounts lose money when trading financial instruments. Ensure you fully understand the risks before investing.Take 2 mins to learn more.

Why Is It Ranked #4?

Interactive Brokers is a go-to choice for high-volume professional traders due to its extensive range of tradable assets and low fees. I initially found its platform complex, but as I explored its tools, I realised how well it caters to experienced traders.

What Are the Pros & Cons?

Interactive Brokers offers spreads that vary depending on the market but are competitive for high-volume traders. Its commissions start at $2.00 per lot, and the platform requires a $10,000 minimum deposit.

The Trader Workstation (TWS) is a professional-grade platform featuring advanced tools, including portfolio management, order customisation, and API trading. Mobile and web versions are also available.

Regulated globally, including ASIC compliance, Interactive Brokers follows strict security protocols and segregates client funds to ensure protection.

saxo logo in blue

#5 Saxo: Best for Premium Services

Most retail investor accounts lose money when trading financial instruments. Ensure you fully understand the risks before investing.Take 2 mins to learn more.

Why Is It Ranked #5?

Saxo caters to high-net-worth traders with its premium services and extensive asset selection. I’ve relied on their expert research tools to navigate niche investments and found the platform invaluable for advanced strategies.

What Are the Pros & Cons?

Spreads start at 0.6 pips, with commissions varying based on account type. The $10,000 minimum deposit makes it less accessible for casual traders.

SaxoTraderGO and SaxoTraderPRO offer customisable tools, deep market access, and institutional-level insights. These platforms are best suited for managing complex portfolios.

As an ASIC-regulated broker, Saxo upholds strict safety measures, including segregated accounts and compliance with Australian financial laws.

#6 AvaTrade: Best for Beginners

Most retail investor accounts lose money when trading financial instruments. Ensure you fully understand the risks before investing.Take 2 mins to learn more.

Why Is It Ranked #6?

AvaTrade is perfect for beginners, offering a simplified platform and comprehensive educational resources. When I first started trading, their tutorials and demo accounts helped me gain confidence.

What Are the Pros & Cons?

AvaTrade uses a fixed spread model, starting at 1.3 pips, with no commission fees. This simplicity is ideal for new traders.

The platform supports MetaTrader 4/5, a proprietary AvaTradeGO app, and features such as AvaProtect, which helps minimise risk on trades.

Fully ASIC-regulated, AvaTrade ensures client funds are secure and provides 24/5 multilingual support, which is beneficial for Australian users.

#7 CMC Markets: Best for Complete Offerings

Most retail investor accounts lose money when trading financial instruments. Ensure you fully understand the risks before investing.Take 2 mins to learn more.

Why Is It Ranked #7?

CMC Markets excels in comprehensive forex pair offerings and in-depth research tools. I’ve used their platform to track trends and inform long-term strategies.

What Are the Pros & Cons?

CMC Markets offers spreads from 0.7 pips, with no commission on forex trades. However, inactive accounts may incur fees.

Their proprietary platform features advanced charting, economic indicators, and robust research tools. It’s an excellent choice for traders focused on analytics.

As an ASIC-regulated broker, CMC Markets ensures client funds are held securely in segregated accounts, adhering to Australian financial regulations.

How to Choose the Best Forex Broker in Australia

Key Factors to Consider

  1. Fees and Spreads:
    Low fees and tight spreads are crucial to maximising profitability. Brokers like Pepperstone and Admirals offer some of the lowest spreads starting at 0.0 pips. Always compare brokers’ full fee structures, including commissions and hidden fees like withdrawal charges.
  2. Trading Tools and Features:
    Advanced tools such as MetaTrader 4/5, cTrader, or proprietary tools like eToro’s CopyTrader can greatly enhance your trading. Choose brokers that align with your trading style and technical requirements.
  3. ASIC Regulation:
    ASIC regulation is essential for trader safety in Australia. It ensures brokers follow strict standards, segregating funds and maintaining transparency. Always verify a broker’s ASIC compliance.
  4. Customer Support:
    Look for brokers that provide 24/7 support, preferably with local Australian assistance. A responsive team can be invaluable, especially during live trading.
  5. Trading Platforms:
    User-friendly platforms with mobile accessibility are essential. Brokers like AvaTrade and eToro excel in offering seamless interfaces for beginners. Advanced traders may prefer customisable tools provided by Pepperstone or Saxo.

Tips for Beginners

  • Start Small: Use a demo account before trading real money. Brokers like AvaTrade and Admirals offer free practice platforms to learn risk-free.
  • Learn the Basics: Leverage broker-provided tutorials and educational tools to grasp market fundamentals.
  • Focus on Regulation: Always choose ASIC-regulated brokers to avoid scams and safeguard your funds.

What to Avoid When Selecting a Forex Broker

Common Mistakes

  • Ignoring Regulation: Many traders are lured by unregulated brokers offering unrealistic bonuses, only to face issues withdrawing their funds.
  • Overlooking Fees: Always review full fee structures, including spreads, commissions, and overnight charges, to avoid surprises.
  • Choosing Based on Promises: Be wary of brokers guaranteeing profits—no trading platform can ensure success.

Identifying Red Flags

  • Unclear Fee Structures: Avoid brokers that don’t clearly disclose costs like spreads or withdrawal fees.
  • No Licensing Information: Brokers without ASIC regulation or registration should be avoided.
  • Poor Reviews: Consistent complaints about fund withdrawals or customer service are major warning signs.

How to Spot Forex Scams

  • Check Regulation: Ensure the broker is listed as ASIC-regulated.
  • Beware of Unrealistic Returns: Any broker promising guaranteed high profits is likely a scam.
  • Verify Contact Information: Legitimate brokers provide detailed and verifiable contact details.

Why Trust Our List of the Best Forex Brokers in Australia?

Our Selection Criteria

Our rankings are based on a thorough evaluation of brokers, considering:

  • Regulation and Safety: Prioritising ASIC-regulated brokers.
  • Fees and Spreads: Comparing costs to ensure competitive pricing.
  • Platform Features: Analysing usability, advanced tools, and mobile accessibility.
  • Customer Support: Verifying quality and availability of assistance.

Why ASIC Regulation Matters

ASIC (Australian Securities and Investments Commission) ensures brokers operate with integrity, protecting traders’ funds and enforcing compliance with strict financial regulations. ASIC-regulated brokers are required to:

  • Hold client funds in segregated accounts, safeguarding your deposits.
  • Undergo regular audits to maintain transparency and fairness.
  • Provide dispute resolution mechanisms, ensuring traders are treated fairly.

FAQs

The best forex broker depends on your needs. Based on my experience, eToro stands out for its beginner-friendly interface and social trading tools, while Pepperstone is ideal for low-cost, high-speed trades.

Yes, beginners can start trading forex in Australia. Brokers like AvaTrade and eToro offer tutorials, demo accounts, and user-friendly platforms, making them great options for first-time traders.

ASIC protects traders by enforcing strict rules, including:

  • Ensuring brokers segregate client funds.
  • Mandating transparent fee disclosures.
  • Providing a dispute resolution framework for handling grievances.

Forex trading costs typically include:

  • Spreads: Starting from 0.0 pips with brokers like Pepperstone.
  • Commissions: $3.50–$7.00 per lot on Razor accounts.
  • Overnight Fees: Charged for holding positions overnight. Always compare full cost structures before choosing a broker.

Yes, several brokers, including eToro and AvaTrade, offer cryptocurrency trading alongside forex. These platforms provide access to popular coins like Bitcoin and Ethereum, combined with forex pairs.

Our #1 Rated Forex Broker

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