We’ve put together an Australian forex brokers list below. If you are looking for a forex trading platforms comparison then these are two of the largest forex brokers in Australia. These are two of the best forex broker for Australians.
Pepperstone – One of the best Australian Forex Brokers
Pepperstone broker is licensed and regulated by the Financial Conduct Authority (FCA) in the UK. The broker is also regulated by the Australian Securities and Investments Commission (ASIC) in Australia and the Dubai Financial Services Authority (DFSA) in the United Arab Emirates.
Pepperstone broker offers 5 products to trade with competitive spreads. From the financial products you can trade:
Pepperstone Forex Review – Account Types
The average spreads on the Razor account start between 0.0 pips to 0.3 pips. The commission fee does apply in all positions, with a fee of $7 charged per lot round turn. You can trade all the financial products on all trading platforms available. Razor account is ideal for scalpers and veteran traders.
Similar to the Razor account, with the Standard account you will be able to trade all financial products. The commission does not apply, so you can trade with no fees charges for the positions. The average spreads start from 1.0 to 1.3 pips on major forex pairs.
Pepperstone requires verification for all registered clients to start trading with a live account. Two types of documents need to be submitted to get verified.
You can submit one of the following documents to verify your identity:
- Driver’s license
- Government-issued photo ID
The full name and the date of birth need to be shown on the ID document.
As a secondary document, you can use the following documents to verify your address:
- Utility bill (phone, electricity, gas)
- Bank or credit card statement
- Government-issued tax document
- Birth certificate
- Citizen certificate
The document must show the name, residential address, and not be older than 3 months.
As we mentioned, spreads depend on the account type that you’re trading. Razor account offers very low spreads on major forex pairs starting. The average spreads on this account start from 0.16 pips. Average spreads on the Standard account start from 1.16 pips on major forex pairs.
Pepperstone offers the following forex trading platforms to use:
- MetaTrader 4
- MetaTrader 5
MetaTrader 4 platform is known as one of the most used forex trading platforms it’s available for all account types. The platform offers a simple experience, that’s friendly to use for a beginner too. Pepperstone offers pre-installed technical indicators for MetaTrader 4. You can add other indicators and set up them in a couple of minutes.
MetaTrader 5 is similar to the old version, but it does offer more features. The platform supports up to 21-time frames and up to 100 charts at one time. Pre-installed indicators can be installed easily on MetaTrader 5.
cTrader is a new trading platform built in recent years to offer a full trading experience. The platform provides a lot of features to explore and its excellent for both new and advanced traders. You can use indicators, add multiple take-profit orders, and other features.
Pepperstone Withdrawal And Deposit
The following payment methods allow you to deposit and withdraw funds with 0 fees:
- European Local Bank Transfer
- Broker to Broker
- Bank Transfer
Frequently Asked Questions (FAQ) contains a lot of answers to any questions that you may have. If your question doesn’t find an answer through FAQ, you can contact the support team. Pepperstone offers customer support via Live Chat 24/5, Email, and Phone.
In our opinion, Pepperstone is one of the best online forex trading platform for Australians.
AxiTrader Review – ASIC Regulated Forex Brokers – Lowest Spreads
AxiTrader is authorized and regulated by the Australian Securities & Investments Commission (ASIC), under AFSL number 318232.
AxiCorp is authorized and regulated by the Financial Conduct Authority (FCA), under reference number 509746.
AxiTrader broker offers the following financial products to trade:
AxiTrader offers 2 account types to trade, Standard, and Pro account. AxiTrader offers 2 account types to trade, Standard, and Pro account. Both account types offer similar features and limits, but the difference is on spreads and commissions.
Spreads on the Standard account start from 0.4 pips, but there’s no commission charged. A commission fee of $7 per round trip lot will be charged, but the spreads tighten as they start from 0.0 pips.
The approval process can take up to 24 hours or even more to get your account verified. AxiTrader broker requires 2 types of documents to become a verified client.
- National Identity Card
- Driving Licence
Proof of Address
- Bank statement
- Utility bill (gas, heating, electricity, and internet) or tax invoice
As we mentioned in our Axitrader review, AxiTrader is one of the best forex brokers that offers the lowest spreads and commissions. Spreads on the Pro account start from 0.1 pips on currency trading pairs as EUR/USD, and AUD/USD. Standard account offers to widen spreads that start from 1 pip on pairs like EUR/USD and AUD/USD.
MetaTrader it’s the only trading platform available to trade. The platform offers super-fast order execution with very low latency. You can trade over 150 financial products with spreads from 0.0 pips. MetaTrader 4 offers a fully customize interface with a wide range of charting options and analysis tools.
You can access MetaTrader through mobile phones and desktops. AxiTrader offers the Myfxbook Autotrade system that allows you to follow the performance from other traders. Besides Myfxbook, other tools such as Axitrader MT4 signals, AxiOne, PsyQuation, etc.
Axitrader Withdrawal And Deposit
AxiTrader offers a zero-fee deposit to the payment methods that don’t exceed the amount of $50,000. To fund or withdraw funds from your account, you can use the following payment methods:
- Debit and Credit Cards (Visa, Master, Maestro, JCB)
- Global Collect (only for Australian clients)
- BPAY (only for Australian Clients)
- China Union Pay (only for Chinese residents)
- Bank Transfer
- Broker to Broker Transfer
AxiTrader’s customer service chat team it’s available 24 hours a day, from Monday to Friday. You can contact the support via email through the contact form or call the phone number that’s shown on the contact page.
The phone line it’s available in multiple countries such as Australia, China, Germany, Spain, UK, and other countries. Frequently Asked Questions (FAQ) it’s available too and can help you get any answers quickly.