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Home/Best Forex Brokers Australia

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Best forex brokers in Australia 2026

Editorial comparison of 5 brokers active in the Australia market — ranked by spreads, platforms, AUD wallet support and ASIC standing.

How we ranked

Each broker was scored across five axes: tightest realised spread on EUR/USD (Raw if offered), AUD wallet support, ASIC vs offshore status, platform breadth, and minimum deposit. We trade live accounts on FxPro and IC Markets; we use demo accounts for IG and CMC. Scores are rounded to one decimal.

Disclosure. aufxbroker is an FxPro affiliate. We earn commission when readers open an FxPro account via our links. We do not earn commission on IG, CMC, Pepperstone or Plus500 — and we still ranked FxPro first because the product fits the Australia trader best in our view. Full editorial policy.

Broker	EUR/USD spread	Min Deposit	Leverage	Platforms	AUD wallet	ASIC	Rating
★ FxPro	0.0 pips (Raw)	$100	1:500	MT4 / MT5 / cT / Edge	✓	offshore	4.7
Pepperstone	0.0 pips (Razor)	$200	1:500	MT4 / MT5 / cT / TV	✓	✓	4.6
IG Markets	0.6 pips	$0	1:30	Web / MT4	✓	✓	4.5
CMC Markets	0.7 pips	$0	1:30	Web / MT4	✓	✓	4.4
Plus500	0.6 pips	$100	1:30	Plus500 native	✓	✓	4.2

Per-broker mini-reviews

★ Editor's pick

FxPro · 4.7

Multi-platform breadth, tightest Raw spreads, AUD wallets, PayID-fast deposits. Offshore — higher leverage, no ASIC retail protection.

Open FxPro account →

2nd

Pepperstone · 4.6

ASIC-licensed, Razor 0.0 spreads, full platform suite including TradingView. Higher minimum deposit.

Visit Pepperstone

3rd

IG Markets · 4.5

UK fintech standard, deepest research suite, $0 minimum. ASIC-restricted leverage caps Raw advantage for active scalpers.

Visit IG

4th

CMC Markets · 4.4

Listed, regulated, the conservative pick. Web platform is excellent; MT4 support is functional but secondary.

Visit CMC

/* verdict */

Our pick: FxPro

For a Australia-resident retail trader who values tightest spreads + platform choice over the safety net of ASIC's retail protections, FxPro is the strongest pick in the cohort. Raw 0.0-pip spreads with $3.50/lot commission match Pepperstone's Razor. The platform breadth (MT4, MT5, cTrader, FxPro Edge) is unmatched. PayID deposit lands fast.

For traders who want ASIC dispute coverage, Pepperstone is the closest substitute — same Raw model, costs $200 minimum vs $100. IG and CMC are the picks for traders who prefer ASIC's leverage caps and don't need cTrader.

We disclose: we're FxPro affiliates. We've passed on broker partnerships before when the product didn't justify the recommendation. FxPro's product justifies it for the trader profile above. Full FxPro review →

Brokers FAQ

Is FxPro ASIC-regulated?

No. FxPro operates in Australia from offshore entities (FCA, CySEC, FSCA). ASIC-regulated alternatives include Pepperstone, IG, CMC and Plus500.

What does ASIC retail leverage cap mean for me?

Retail accounts at ASIC-regulated brokers cap leverage. Offshore brokers can offer up to 1:500 — but you forfeit local dispute resolution.

Can I open an account with multiple brokers?

Yes, and many active traders do — one local broker for compliance comfort, one offshore for tighter spreads / higher leverage.

What's a AUD wallet and why does it matter?

An account denominated in AUD — no FX conversion on deposit / withdrawal. Removes 0.5-1% drag per transaction round-trip.

Is PayID supported by all Australia brokers?

Most modern brokers support PayID. Older platforms still rely on alternates. Always check broker's deposit page.

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