Intro and winners
Top 5 forex brokers in Australia in 2023:
- Fusion Markets is best forex broker in Australia in 2023. - Low trading and non-trading fees. Fast and easy account opening. Great customer service.
- Capital.com - Low forex CFD fees and commission-free real stocks. Great account opening experience. Excellent email and chat support.
- IC Markets - Low forex fees. Easy and fast account opening. Free deposit and withdrawal. Offer standard accounts and raw spread accounts.
- Tickmill - Low forex fees. Fast and easy account opening. Free deposit and withdrawal.
- CMC Markets - Low forex fees. Great web and mobile platforms. Advanced research and educational tools.
How did BrokerChooser select the best FX brokers in Australia?
- We checked whether the broker is regulated by a trusted regulator,
- Compared fees (including spreads, withdrawal fee, commission),
- Checked the number of currency pairs,
- Opened an account and tested the platforms with real money,
Best forex brokers
Comparison of top forex brokers and trading platforms in Australia in 2022
While many forex brokers catering to clients in Australia offer an excellent service, the ones in our toplist go the extra mile. These international brokers and trading platforms are suitable for beginners and experienced traders alike.
Broker | FX Commissions per lot | Minimum deposit | Account activated in | Credit/debit card deposit |
---|---|---|---|---|
Fusion Markets | $2.25 commission per lot per trade | $0 | 1 day | Yes |
Capital.com | No commission is charged | $20 | 1 day | Yes |
IC Markets | $3.50 commission per lot per trade | $200 | 1 day | Yes |
Tickmill | $2.00 commission per lot per trade | $100 | 1 day | Yes |
CMC Markets | No commission is charged | $0 | 1-3 days | Yes |
Best forex brokers
Fee comparison of the best forex brokers in Australia
See the spreads charged by these online brokers for the most popular currency pairs.
Fusion Markets | Capital.com | IC Markets | Tickmill | CMC Markets | |
---|---|---|---|---|---|
EURUSD spread | 0.0 | 0.6 | 0.0 | 0.2 | 0.7 |
GBPUSD spread | 0.2 | 1.3 | 0.0 | 0.5 | 0.9 |
AUDUSD spread | 0.0 | 0.6 | 0.0 | 0.1 | 0.7 |
EURCHF spread | 0.6 | 2.3 | 0.0 | 0.9 | 2.5 |
EURGBP spread | 0.3 | 1.5 | 0.0 | 0.4 | 1.1 |
Best forex brokers
Non-trading fees at the best forex brokers in Australia
Fusion Markets | Capital.com | IC Markets | Tickmill | CMC Markets | |
---|---|---|---|---|---|
Account fee | No | No | No | No | No |
Inactivity fee | No | No | No | No | Yes |
Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
Best forex brokers
Forex trading in Australia
Foreign-currency (forex) trading in Australia is overseen by the Australian Securities and Investments Commission (ASIC). In addition to rooting out fraudulent behavior in the forex market, the financial market regulator is also in charge of issuing licenses to brokers. Under Australian law, only brokers authorized by ASIC are allowed to accept forex and CFD traders.
The Australian dollar (AUD), which became a free-floating currency in 1983, ranks among the top five most traded currencies globally. The AUD exchange rate is highly volatile as the currency's value is closely linked to commodity prices (Australia is rich in natural resources), which also fluctuate quite widely. Naturally, forex traders in Australia have a wide variety of currency pairs to choose from, they are not limited to trading the AUD only.
The global currency market is huge and highly liquid, meaning that there is a high number of buyers and sellers at all times. If you're a beginner, be careful with forex trading as forex products are complex and risky, therefore not suitable for everyone. You can easily lose all your invested money. If you don't know how forex trading works, take a look at our forex education articles.
Not sure which broker to choose? Check out our broker finder tool for a personalized broker recommendation.
Best forex brokers
How to choose the best forex brokers and trading platforms in Australia
An excellent overall service level is required to make it to the BrokerChooser list of best brokers in any category. In addition, all service providers included in our list are reliable brokers. When it comes to forex trading and forex brokers, some criteria weigh more heavily in our methodology.
The most important selection criteria for best forex broker in Australia are:
- First of all, fair forex fees.
- A wide selection of currency pairs.
- A great trading platform with advanced charting.
- Educational tools to guide you through the basics of trading.
Best forex brokers
Get the best brokers tailored to your needs
Didn't find the best broker for you? Answer a few questions and get a personalized broker list!
Your broker toplist will be selected based on your answers.
And now, let's see the top forex brokers for Australian residents one by one, starting with the winner, Fusion Markets.

#1 Best forex broker
Fusion Markets
Fusion Markets, founded in 2010, is based in Australia and it is regulated by the Australian Securities and Investments Commission (ASIC) as well as the Vanuatu Financial Services Commission (VFSC).
Australian investors trade with the ASIC-regulated entity of the broker. Australians are not entitled to investor protection but the broker provides negative balance protection.
Fusion Markets snapshot | |
---|---|
Minimum deposit | $0 |
Mobile app score | 3.8 stars |
Inactivity fee | No |
Currency pairs | 85 |
Deposit methods | Bank transfer, Credit/debit cards, Neteller, PerfectMoney, Jaton, PayPal, Mifinity |
Withdrawal fee | $0 |
Read review | For a detailed analysis of Fusion Markets services, check out our review for 2023 |

#2 Best forex broker
Capital.com
Capital.com is a global CFD broker founded in 2016. Its legal entities are regulated by the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC) and the Financial Services Authority of Seychelles (FSA).
Australian residents are served by Capital Com Australia Limited, an ASIC-regulated legal entity of Capital.com. Customers trading with this entity are not entitled to investor protection, however, Capital.com provides negative balance protection to all its customers.
Capital.com snapshot | |
---|---|
Minimum deposit | $20 |
Mobile app score | 4.9 stars |
Inactivity fee | No |
Currency pairs | 138 |
Deposit methods | Bank transfer, Credit/debit cards, Apple Pay, PayPal |
Withdrawal fee | $0 |
Read review | For a detailed analysis of Capital.com services, check out our review for 2023 |

#3 Best forex broker
IC Markets
Australia-based IC Markets is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Seychelles Financial Supervisory Authority (FSA) and the Australian Securities and Investments Commission (ASIC).
Australian residents are served by the ASIC-regulated legal entity of the broker. Australian traders are not eligible for investor protection but have negative balance protection.
IC Markets snapshot | |
---|---|
Minimum deposit | $200 |
Mobile app score | 3.8 stars |
Inactivity fee | No |
Currency pairs | 61 |
Deposit methods | Bank transfer, Credit/debit cards, PayPal, Neteller, Skrill, UnionPay, Bpay, FasaPay, POLI, Rapidpay, Klarna, Bitcoin wallet |
Withdrawal fee | $0 |
Read review | For a detailed analysis of IC Markets services, check out our review for 2023 |

#4 Best forex broker
Tickmill

#5 Best forex broker
CMC Markets
CMC Markets is a global CFD and forex broker, founded in 1989. It is regulated by several authorities globally, including the top-tier German regulator Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin). The company is also listed on the London Stock Exchange, which adds an additional layer of regulatory scrutiny.
Australian residents are served by CMC Markets Asia Pacific Pty Ltd, an ASIC-regulated legal entity of CMC Markets. Australian traders are not eligible for investor protection or negative balance protection.
Tickmill snapshot | |
---|---|
Minimum deposit | $100 |
Mobile app score | 3.8 stars |
Inactivity fee | No |
Currency pairs | 62 |
Deposit methods | Bank transfer, Credit/debit cards, Neteller, Skrill, dotpay, Paysafecard, Sofort, Rapid by Skrill, PayPal |
Withdrawal fee | $0 |
Read review | For a detailed analysis of Tickmill services, check out our review for 2023 |
Best forex brokers
FAQ
Which forex broker is best in Australia?
In Australia, only brokers authorized by ASIC, the country's national financial market regulator, are allowed to accept forex and CFD traders.
The best forex brokers in Australia are:
- Fusion Markets - Low trading and non-trading fees. Fast and easy account opening. Great customer service.
- Capital.com - Low forex CFD fees and commission-free real stocks. Great account opening experience. Excellent email and chat support.
- IC Markets - Low forex fees. Easy and fast account opening. Free deposit and withdrawal. Offer standard accounts and raw spread accounts.
- Tickmill - Low forex fees. Fast and easy account opening. Free deposit and withdrawal.
- CMC Markets - Low forex fees. Great web and mobile platforms. Advanced research and educational tools.
Save hours of research and check out our broker recommendation tool that will give you a tailor-made list of the best forex brokers available to you based on your residency and trading preferences.
Is forex trading legal in Australia?
Foreign currency (forex) trading is fully legit in Australia and the market is overseen by the Australian Securities and Investments Commission (ASIC). The regulator is responsible for rooting out fraudulent behavior in the forex market, bolstering competition among service providers and issuing licenses to brokers. Australian law requires all brokers that accept forex and CFD traders to be authorized by ASIC by obtaining an Australian Financial Services License (AFSL). Make sure your broker has an AFSL, check their website for the license number.
Use our in-depth broker comparison table to see how your broker compares to similar service providers.
Do forex traders pay tax in Australia?
Currency trading in Australia is recognized as an income generating activity and profits resulting from forex trading will be taxed. You will need to pay taxes after profits you made within the tax assessment year. Forex gains and losses are generally brought to account as assessable income or allowable deductions, when realised.