Same as there is no single indicator or Forex trading style that is best for everyone, nor is there simply one best FX broker suited to every Forex trader. Forex trading is a very personal endeavour, with differing available capital, risk tolerance, trading strategy, styles and trading account requirements. It can also be difficult for traders to know who are the trusted and truly reputable Forex brokerage firms in Australia.
Therefore, I have reviewed 1 in detail, the top ASIC regulated Forex broker lists for covering a variety of features traders look for, including standard Forex accounts and electronic communication network ECN Forex trading accounts. These include the cheapest online Forex trading; access the interbank market with the best ECN broker accounts all are Australian forex brokers too ; best fixed spread CFD FX broker ; and largest product range Forex broker.
The spreads are typically tighter than standard accounts as the foreign exchange broker does not add any additional spread. However, they charge a fixed commission instead when a trade is made.
Fixed spreads do not change under normal foreign exchange market conditions. This means the bid-ask spread does not vary based on time of day, or general forex market fluctuations and volatility. A fixed narrow Forex spread is more convenient and predictable for customers, compared with variable spreads. TradeDirect are the clear winners in fixed spread forex trading with outstanding low 24 hour fixed spreads available not only on Forex CFDs, but all CFDs they offer.
There is no other Australian regulated broker that has fixed spread trading available at such tight fixed spreads across the entire product range. Click to view our detailed TradeDirect review and ratings, or try their easy one-click demo account.
In fact it is a policy and initial listing requirement that any broker reviewed or listed on this web site must be operating with the applicable Australian licence AFSL.
This comparison is for Australian forex traders, therefore we will only list and review Australian regulated firms! Disclaimer Online Brokers Australia is an information service covering a variety of brokers and products for trading online. We however do not cover every online broker or trading platform available in the market. Every attempt is made to ensure information published is correct and up to date, however no guarantee or warranty is given as to its accuracy or reliability.
The broker rating displayed is only one factor to take into account when considering these products. We are not a brokerage firm, and in providing you information about brokers and online trading products, are not making any suggestions or recommendation to you about a particular firm, product or trading account. All reviews are conducted independently. The online brokers, products and services included on this website may not suit your financial situation, personal objectives or needs.
It is therefore important you consider if it is appropriate for your personal circumstances before making any investment decision, or apply for an online trading account. We strongly recommend you seek independent accredited financial advice before acting upon any information published on this website, or on 3rd party websites you may have visited by clicking links published on OnlineBrokersAustralia.
Compare Standard FX Accounts. Broker Rating 1 4. Spreads From From 0. Best Suited To Currency traders who also need a wide variety of non-forex instrument types eg equities. Commission Per Lot None. Spread Type 24 hour Fixed. Fixed Spreads From 0. Broker Rating 1 3. Fixed Spreads From 2. Overall Broker Rating 1. Overall Broker Rating 1 4.
Spread Type Variable Broker Spread. Spreads From From 1. Foreign exchange also known as Forex , FX or currency derivatives are complex, leveraged financial products and require a certain level of experience, so may not be suitable for everyone. Forex trading carries a high level of risk to your capital and can result in losses which exceed your initial deposit.
Please ensure that you understand all the risks involved. Reviews and comparisons for best forex broker Australia are conducted independently, however FX Brokers or products included on this page may not suit your financial situation, personal objectives or needs. Trading Forex, either online forex trading or any form of online trading in the forex market, is not a decision to take lightly.
If you are unsure of the risks when trading forex, or have any doubt whether you have sufficient financial resources or experience to trade these forex Australia or foreign exchange market products, you should take professional advice before trading FX or opening a Forex broker account. We only list ASIC regulated brokers.
Please see our "About" page to learn more.More...