Best forex brokers in Australia
We checked which brokers let people living in Australia trade forex: 3 of the 7 we follow do. XTB does not accept residents of Australia, so IC Markets leads.
By Broksal Team, investing in forex and CFD markets since 2017. Updated . How we test
How we score
Each broker gets five sub-scores out of 5:
Regulation and safety (30%), trading costs (25%), platforms and tools (20%), range of markets (15%) and ease of use (10%). The overall score is the weighted average, rounded to one decimal.
Availability is checked against each broker's published country lists. The ranking order is editorial and reflects our commercial agreements, so it does not always follow the scores. Full methodology
Advertiser disclosure
Broksal is free to use because some brokers pay us a commission when you open an account through our links. This can influence which broker we feature and the order in which brokers appear.
Commissions never change the facts we publish about regulation, fees or country availability, and they cost you nothing.
Top 3 forex brokers for Australia
- 1
Our top pick in Australia
IC Markets
4.6Raw spreads, MetaTrader, cTrader and TradingView in one account (now branded IC)
XTB is not available in Australia
Forex CFDs Raw Spread account: about 0.1 pips on EUR/USD plus $7 per lot round turn, on MetaTrader, cTrader or TradingView.
- Minimum deposit
- From $0 (varies by entity)
- Platforms
- MetaTrader 4, MetaTrader 5, cTrader +1
- Entity for Australia
- International Capital Markets Pty Ltd — ASIC (Australia)
- CFDs
- Yes
Show pros, cons and feesHide details
IC EU homepage after the rebrand from IC Markets: raw spreads from 0.0 pips and leverage up to 1:30 for EU retail clients. What we like
- Raw Spread accounts with low commissions
- Four platforms, including cTrader and TradingView
- ASIC and CySEC regulated entities
- Popular with automated and high-volume traders
- Rebranded to IC in 2026; same regulated entities
Watch out for
- Not available in the US, Canada, Israel or New Zealand
- Minimum deposit depends on the entity you are assigned
- Thin education and research compared with XTB or IBKR
Fees
Raw Spread accounts charge a commission per lot on top of raw interbank spreads (on MetaTrader it is $3.50 per side per standard lot). The Standard account has no commission and wider spreads. Swaps apply overnight.
Best for
Cost-sensitive and algorithmic traders.
- 2
Interactive Brokers
4.7The widest market access here, with low costs and top-tier regulation
Local presence in Australia
Spot forex and CFDs Interbank pricing from 0.1 pips with a 0.2 basis point commission (minimum $2); spot forex as well as forex CFDs.
- Minimum deposit
- No minimum
- Platforms
- Trader Workstation (TWS), IBKR Desktop, Client Portal (web) +2
- Entity for Australia
- Interactive Brokers Australia Pty Ltd — ASIC (Australia)
- CFDs
- Yes
Show pros, cons and feesHide details
Interactive Brokers homepage, showing the desktop platform and mobile app and the new AI-assisted analysis integrations. What we like
- Listed on Nasdaq and regulated by top-tier authorities worldwide
- Access to stocks, options, futures and bonds on 150+ markets
- No minimum deposit and no inactivity fee
- Accepts residents of most countries
Watch out for
- Trader Workstation has a steep learning curve
- CFDs are not available to US residents
- Account opening asks for more documents than most brokers
Fees
Two pricing plans: Fixed (one all-in commission) and Tiered (lower exchange-based commission plus pass-through fees). CFD commissions are charged per trade, with financing on overnight positions. There is no inactivity fee.
Best for
Experienced investors who want access to global exchanges.
- 3
eToro
4.3CopyTrader and a social feed on a Nasdaq-listed platform
Local presence in Australia
Forex CFDs About 1 pip on EUR/USD with no commission, and CopyTrader for following other traders.
- Minimum deposit
- Varies by country
- Platforms
- eToro web platform, eToro mobile app
- Entity for Australia
- eToro AUS Capital Limited — ASIC (Australia)
- CFDs
- Yes
Show pros, cons and feesHide details
eToro homepage after the 2026 brand refresh, highlighting its Nasdaq listing (ETOR) and the new mobile app. What we like
- CopyTrader lets you mirror other investors' portfolios
- Listed on Nasdaq; FCA, CySEC and ASIC regulated
- Very easy app for stocks, ETFs and crypto
Watch out for
- CFD spreads are wider than at IC Markets or XTB
- Not available in Canada, Japan, India, Turkey and most of Africa
- Withdrawal and currency conversion fees on the USD account
Fees
CFD costs are in the spread (about 1 pip on EUR/USD), plus overnight fees on leveraged positions. Withdrawals from the USD account cost $5 and currency conversion is charged on non-USD deposits; eToro removed its inactivity fee on 28 May 2026.
Best for
Investors who want to copy other traders.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. Consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Each broker publishes its own current loss percentage on its website.
Forex from Australia: the rules
Retail leverage on major currency pairs is capped at 30:1 for residents of Australia, and 20:1 on other pairs, with negative balance protection. Locally, financial services are supervised by the Australian Securities and Investments Commission (ASIC).
Best time to trade currencies from Canberra
Major currency pairs are usually most liquid while London and New York are both open: 00:30–02:30 local time (UTC+11, early October 2026). The forex week runs from Monday 08:00 to Saturday 08:00 local time.
Tax
CFD gains are taxable in Australia; whether they count as ordinary income or capital gains depends on your circumstances. ASIC's 2023 court case against eToro's Australian CFD target market is covered in our news section. This is general information, not tax advice. More on trading from Australia.
All 7 brokers we review, checked for forex in Australia
| Broker | Status | Access | Entity for Australia |
|---|---|---|---|
| XTB | Not available in Australia | — | — |
| XM | Not available in Australia | — | — |
| IC Markets | #1 in this ranking | Forex CFDs | International Capital Markets Pty Ltd — ASIC (Australia) |
| Interactive Brokers | #2 in this ranking | Spot forex and CFDs | Interactive Brokers Australia Pty Ltd — ASIC (Australia) |
| Freedom24 | Not available in Australia | — | — |
| IQ Option | Not available in Australia | — | — |
| eToro | #3 in this ranking | Forex CFDs | eToro AUS Capital Limited — ASIC (Australia) |
Forex rankings elsewhere in Australia and New Zealand
| Country | Brokers offering forex | #1 |
|---|---|---|
| 🇳🇿 New Zealand | 3 | XM |
Frequently asked questions
What is the best forex broker in Australia?
IC Markets, in our ranking. Raw Spread account: about 0.1 pips on EUR/USD plus $7 per lot round turn, on MetaTrader, cTrader or TradingView. Interactive Brokers and eToro complete the top 3.
Which brokers offer forex to residents of Australia?
Of the brokers we review: IC Markets (forex cfds), Interactive Brokers (spot forex and cfds) and eToro (forex cfds).
What are the rules for forex in Australia?
Retail leverage on major currency pairs is capped at 30:1 for residents of Australia, and 20:1 on other pairs, with negative balance protection.
When is forex most liquid in Australia?
Usually 00:30–02:30 local time, while London and New York are both open (early October 2026 times).
Which forex broker has the lowest costs?
On a one-lot EUR/USD trade, Interactive Brokers was cheapest in our fee comparison, followed by XTB and IC Markets at about $8. For small trades the $2 minimum commission at IBKR makes XTB cheaper.
Availability last checked 6 October 2026. Brokers change their country lists without notice; the broker's sign-up form is the final word.