Australia is only one example of a new market that has entered the foreign currency (Forex) market in recent years, which has experienced a steady increase in daily trade volume. Many foreign exchange (FX) traders, domestic and foreign, have set up shops in the country thanks to its stable economy and lenient regulatory environment.
Australian Forex Brokers are governed by the country’s financial laws and regulations that are in place to safeguard the country’s citizens from financial loss. Although these rules have greatly helped protect investors, it is essential to remember that dishonest brokers still exist despite these new safeguards.
What Is HotForex?
HF Markets Group has been behind the HotForex brand since day one. It is regulated in Europe by the Cyprus-based HF Markets Europe ltd and in the United Kingdom by the FCA-authorized HF Markets UK Limited. HotForex has obtained licenses to operate in the financial services industry in the United Arab Emirates, South Africa, Cyprus, Saint Vincent, and the Grenadines.
Hot Forex has won many accolades for its work as a market maker, which has resulted in the company offering its customers a diverse range of multi-asset account options, including currency pairings, cryptocurrencies, bonds, ETFs, and stocks.
Currency exchange (Forex) and CFDs (contracts for differences) on metals, indices, energy, shares, bonds, commodities, and ETFs are offered by London-based HotForex, which also provides its customers with other investment alternatives.
Best 5 Australian Forex Brokers
See our top best Australian forex brokers below. These suggestions are based not on personal experience but on research and reputation.
Pepperstone
Pepperstone has a small selection of products, but it makes up for it with excellent spreads, helpful customer service, and many different copy trading options. It’s been more than ten years since this broker first started. Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) of the United Kingdom (FCA) oversight.
Pepperstone caters to experienced traders by offering advanced tools and platforms, including MetaTrader and cTrader.
It offers 59 currency pairings and 86 distinct CFDs. However, cryptocurrency can be traded via contracts for difference (CFDs).
AvaTrade
Starting in 2006, it has been governed by the highest tier-1 and tier-2 authorities. Regarding financial compliance, AvaTrade is in line with eight regulators in 6 countries. It is safe to trade CFDs and currency pairs with AvaTrade. Traders can ensure their funds to the tune of a million dollars. Their counterbalance defense is called Avaprotect (fees apply).
AvaTrade built its online trading platform from the ground up. Trading platforms such as MetaTrader 4 and MetaTrader 5, as well as ZuluTrade and DupliTrade, are provided (great for social trading). AvaTrade is among the most effective forex trading platforms because of the variety of options it provides. AvaTrade is increasing the number of financial services it offers.
eToro
eToro is a widely used broker that was founded in Israel in 2007. eToro is governed by two of the world’s top financial regulators in the United Kingdom and Australia. You can trust eToro. Since it lets novices mimic the actions of seasoned traders, it’s an excellent tool for teaching the ropes.
eToro is widely credited for spreading awareness of social trading. They launched a trading platform modeled after social media. Users can network and steal ideas from one another’s portfolios. Traders in Australia who value education are likely to appreciate this feature. With this, you may practice trading with real-world conditions before venturing.
eToro is popular among novice traders because of the platform’s ease of use. Traders can take advantage of a streamlined UI and a friendly community.
With eToro, you may trade in 47 different currency pairs. Traders can choose from more than two thousand Contracts for Difference (CFDs), which include a wide range of commodities, cryptocurrencies, and other assets.
Plus500
Plus500, established in 2008, is a stock exchange-listed company and broker. Plus500 is overseen by three of the world’s top financial regulators. They include authorities in the United Kingdom, Cyprus, and Singapore. Plus500 is an excellent alternative for Australian traders.
Among other Australian forex CFD brokers, this trading platform offers competitive spreads. Our top recommendation for experienced FX CFD traders. It has a straightforward trading interface. The firm provides a traders handbook for trading on the Australian platform to help you get started.
What the platform lacks in diversity of currency combinations, it makes up for in convenience. Australian CFD traders can choose from 50 different currency pairings. More than 2,000 Contracts for Difference are available on Plus500.
CMC Markets
Australians widely use CMC Markets as a forex broker. ASIC and three other top-level agencies provide oversight. CMC Markets has been in business for almost 30 years and is publicly traded on the NYSE. In other words, it’s a safe bet for Aussie investors.
This broker is known for its minimal trading fees and welcomes novice and experienced investors. CMC Market provides access to 180 FX spot pairs and 10,000 CFDs. These encompass numerous assets and financial instruments. With CMC Markets, the cost of trading currency pairs is comparable to that of competing brokers. CMC Markets’ research tools are among the best in the industry. These include news feeds, market information, and third-party content from Reuters and Morningstar.
It has a tonne of useful features built into its mobile app. Its desktop program includes 29 out of 81 common technical analysis indicators. Those specialized trading instruments are exclusive to our platform.
