The annual forex broker review (four years running) is themost citedin the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year.How we test.
Trading forex (currencies) in Australia is popular among residents and international traders seeking an Australian-based broker. Before any fx broker in Australia can accept forex and CFDs traders, they must become authorised by theAustralian Securities & Investment Commission (ASIC), which is the financial markets regulator in Australia. ASICs website isasic.gov.au. We recommend users also follow ASIC on Twitter,@ASIC_Connect.
After the Australian Securities Commission (founded in 1991) was dissolved, ASIC was established in 1998 as a national regulatory authority which reports to the treasurer and administers legislation for the Insurance Act of 1984, the Corporations Act of 2001, and the National Consumer Credit Protection Act of 2009. For a historical breakdown, heres a link to ASICs webpage onWikipedia.
To find thebest forex brokersin Australia, we created a list of all ASIC authorised brokers, then ranked brokers by theirTrust Score. Here is our list of the top Australian forex brokers.
Compare Australian forex and CFDs brokers side by side using theforex broker comparison toolor the summary table below. This broker list is sorted by the firms mTrust Score.
To identify if a forex broker is regulated by ASIC, the first step is to identify the register number from the disclosure text at the bottom of the brokers Australia homepage. For example, heres the key disclosure text from Pepperstones 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.
For our2020 Forex Broker Reviewwe assessed, rated, and ranked 30 international forex brokers. Each broker was graded on 105 different variables and, in total, over 50,000 words of research were produced.
While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.
All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 1% each year, providing site visitors quality data they can trust. Learn more abouthow we test.
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.Learn more.
About the author:Steven HatzakisSteven Hatzakis is the Global Director of Research for . Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.
Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. The m staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.The names, products, services, branding/logos, and other trademarks or images featured or cited within this Website ( are the property of their respective owners and the owners retain all legal rights therein. These trademark holders are not affiliated with ForexBrokers.com and the use or display of names, trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, or endorses ForexBrokers.com or any of its reviews, products, or services. ForexBrokers.com declares no affiliation, sponsorship, nor any partnership with any trademark holders unless otherwise stated.
IG -68% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you can afford to take the high risk of losing your money.
OANDA – CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909).
Advertiser Disclosure: ForexBrokers.com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. How do we make money? Our partners compensate us through paid advertising. While partners may pay to provide offers or be featured, e.g. exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data.Here is a list of our partners.
Disclaimer: It is our organizations primary mission to provide reviews, commentary, and analysis that are unbiased and objective. While ForexBrokers.com has some data verified by industry participants, it can vary from time to time. Operating as an online business, this site may be compensated through third party advertisers. Our receipt of such compensation shall not be construed as an endorsement or recommendation by ForexBrokers.com, nor shall it bias our reviews, analysis, and opinions. Please see our General Disclaimers for more information.