Best forex brokers in Australia (2026)

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The rules for forex trading in Australia

A broker that offers CFDs or margin forex to Australian retail clients needs an ASIC licence that covers derivatives. ASIC counted 52 licensed CFD firms in January 2026. Check the licence on ASIC Connect, and check the Moneysmart alert list for firms with no licence.

ASIC caps retail leverage at 30:1 on major pairs, 20:1 on minor pairs, gold and major indices, 10:1 on other commodities and indices, 5:1 on shares and 2:1 on crypto. Brokers must close positions at 50% of the margin you need, and they must protect you from a negative balance. The order took effect on 29 March 2021 and runs to 23 May 2027. Bonuses and other sign-up gifts are banned.

Complaints go to AFCA. If a firm cannot pay an AFCA award, a last-resort scheme can pay up to A$150,000. ASIC report 828 found that 68% of retail CFD clients lost money in the 2024 financial year. The regulator ordered about A$40 million in refunds in 2025 and 2026. USG was fined A$300 million in June 2026. The ATO taxes CFD gains as normal income under ruling TR 2005/15, with no capital gains discount. Traders fund accounts by bank transfer, PayID, BPAY or card.

Sources: ASIC media release 26-004MR of 20 January 2026. ASIC product intervention order and media release 22-082MR. ASIC report 828. ATO ruling TR 2005/15. Checked 25 September 2026.

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Overview

Updated · Ranking rebuilt from the latest broker ratings

Choosing a forex broker in Australia can feel complex. We built this guide to help you compare options and understand what to look for as an Australian resident. We focus on platform tools, costs, available markets, order types, funding methods, and customer support, along with Australian regulation and account protections. Below, you’ll find our picks and a simple comparison tool so you can review them side by side and make an informed choice. Trading CFDs involves risk. Take time to learn how margin, pricing, and overnight charges work before you trade. All information on BrokerCatalogue is for general informational purposes and should not be considered financial, legal, or investment advice. BrokerCatalogue: making your choices clear.

Broker of the Month

FOREX.com 10.0
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The Top 10 Forex Brokers

At a glance

#BrokerRatingRegulationFoundedPlatforms
1FOREX.com10/10ASIC, CFTC, FCA2001MT4, MT5, Proprietary
2Interactive Brokers10/10ASIC, CBI, CFTC1977Proprietary
3Plus50010/10ASIC, CFTC, CySEC2008Proprietary
4Saxo Bank10/10ASIC, DFSA, FCA1992Proprietary, TradingView
5Swissquote10/10CSSF, DFSA, FCA1996MT4, MT5, Proprietary
6FP Markets9/10ASIC, CMA, CySEC2005cTrader, MT4, MT5
7TradeStation9/10CFTC, FCA, NFA1982Proprietary
8Capital.com8.8/10ASIC, CySEC, FCA2016MT4, Proprietary, TradingView
9HYCM8.7/10CIMA, CySEC, DFSA1977MT4, MT5
10Tickmill8.7/10CySEC, FCA, FSCA2014MT4, MT5
  1. FOREX.com 10.0
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  2. Interactive Brokers 10.0
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  3. Plus500 10.0
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  4. Saxo Bank 10.0
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  5. Swissquote 10.0
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  6. FP Markets 9.0
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  7. TradeStation 9.0
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  8. Capital.com 8.8
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  9. HYCM 8.7
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  10. Tickmill 8.7
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Forex Broker Comparison Tool

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How We Pick These Brokers

The brokers on this page are chosen and ranked using BrokerCatalogue’s independent review framework. We look at regulation, safety of client funds, trading costs, platforms and tools, execution, and overall fit for this specific use case or region.

Some brokers may be our partners, but no broker can pay to change its score or ranking. Sponsorship can affect visibility (for example, “featured” labels), not how we rate risk or quality.

This page is for information only and is not financial or investment advice. Always do your own research.

See our Affiliate & Advertising Disclosure, Methodology and Risk Disclosure for full details.

Frequently Asked Questions

You want a provider authorised to serve Australians and supervised locally. Check how client money is handled and where the company is based. Review the full fee schedule, order types, and available instruments. Test the platform for stability, charts, and mobile access. Look at funding options, support hours, and the complaints process. Read the Product Disclosure Statement and key terms. You can use a demo to learn the process before committing funds. This is general information for education only, not financial advice.

Yes. Brokers need an ASIC licence that covers derivatives, and ASIC caps retail leverage at 30:1 on major pairs. Trading with an offshore firm that has no licence is not an offence for you, but you lose AFCA, the compensation scheme and negative balance protection.

Your costs can include the spread, a stated commission, and funding charges when you hold positions overnight. There may be currency conversion costs, deposit or withdrawal fees, and inactivity fees. Platform add-ons, market data, or third-party tools can also carry charges. Costs vary by account type and product and can change over time. Read the fee schedule and the Product Disclosure Statement. A demo can help you see how costs accrue in practice. This is not advice.

Currency prices move quickly and can gap during news or off-hours. Leverage magnifies both gains and losses. Orders may face slippage or rejection in fast markets. Platforms and internet links can fail. Liquidity can thin out at certain times, which may affect execution. There is counterparty risk with any provider. Common risk tools include stop orders and position sizing; each has trade-offs. Learn how they work before you use them. Educational information only.

When you open an account, you usually complete identity checks. You provide photo ID and a recent address document; sometimes proof of source of funds. Funding methods can include bank transfer and cards, plus some online options. Processing times and fees depend on the method and your bank. Providers often return withdrawals to the original source and only to an account in your name. Check cut-off times, currencies, and any minimums in the terms. General info only.

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