The Best Forex Brokers in Australia 2020
Finding the best forex brokers in Australia can seem like a difficult task, especially for beginner traders. Luckily, here at TopRatedForexBrokers, we do the hard work for you.
Our team of experts have reviewed hundreds of forex brokers based in Australia, to create a conclusive list of the best sites for traders down under. We’ve also identified the most important things Australian forex brokers must offer to ensure you receive a superior trading experience.
This includes an ASIC license, excellent customer support in local hours and compatibility with Australian banking services. Our top Australian forex brokers also offer competitive spreads on AUD pairs and updates during the Asian trading session, which overlaps with Sydney trading hours.
By meeting our specific list of criteria, you can rest assured that the brokers recommended here are reputable and well-suited to your needs as an Australian forex trader.
You can also use this page to:
- Discover what bonuses the best forex brokers in Australia offer
- Learn more about the regulation of forex trading in Australia
- Identify what exactly makes for a great Australian forex broker
Our list of the best forex brokers in Australia are:
- XM Group
Best and most trusted forex brokers in October 2020
What is the regulation in Australia Forex brokers?
Different countries have their own national regulatory bodies. Called agencies or authorities, these are specialized bodies of government or parts of the independent local regulation system. To protect the brokers and the traders at once, the Australian financial services market has been collaborating with the following regulatory agencies.
The Australian Securities and Investments Commission is the main regulatory body for financial services, markets and platforms in Australia and, in most cases, you will see it by its abbreviation ASIC. This is the agency to which any potential Australian Forex broker must refer to get the necessary license to operate on the market.
The Australian Securities and Investments Commission also regulates personal data protection and manages the generation of smooth financial transactions. Last, but not least, the Reserve Bank of Australia has delegated its control to authorised money market dealers and foreign exchange dealers by putting Australian Securities and Investments Commission in charge to observe how properly they work.
- Australian Prudential Regulator Authority
Known by the short name APRA, Australian Prudential Regulator Authority has several rights to manipulate and directly perform on license procedures, as well as in the supervision of the Authorised Deposit-taking Institutions (ADIs). Many disputes by ordinary customers of Australian Forex brokers are handled by Australian Prudential Regulator Authority, too!
- Australian Competition Consumer Commission
The Australian Competition Consumer Commission controls and bans anti-competitive behaviour of an Australian Forex broker, too. This commission is an independent one, but it has many additional rights as to the security in Australian Forex brokers, too. Alongside with the two mentioned above agencies, ACCC does form the triple regulation process in Australian Forex brokers.
How to choose a decent Australia Broker?
If you find numerous Australia Forex brokers with at least one of the mentioned above agencies for regulation, you can be sure that safety factor is provided for your financial trading. But what should be the rest of your criteria, when choosing such a broker? Find out now how to find a decent and reliable Australia Forex brokers now and with us. These should be the features that must present in each trading websites based in Australia you are thrilled about:
- Good reputation and experience in the field will protect your doubts whether this is a really trustworthy place to invest your money and to invest your trading time in.
- Perfect customer support, on the other side, is important for all those moments you are simply not able to orient in the website or in some of its trading features and categories.
- Good bonus system with amazing offers to make your financial trading activity more decent, interactive and entertaining.
- As a beginner in the field, you will have to gain some additional experience and knowledge form a broker. Make sure that you look for all those best Forex brokers Australia, where there is a learning centre, as well as FAQ category and demo account, which is a free chance for gaining some good practice.
- An abundance of trading instruments and helping functions on the website will help you become a better trader quite fast. Most Australian Forex brokers do provide these things, so view them, as well.
- Powerful trading platform with decent instruments included in it. Do not forget that the trading software is the main key element in a broker platform, as well as for your trading experience on the website.
Join an Australian Forex broker, if this kind of brokers do suit your needs and tell us what you think about it later on mandatory!