Best Australian Forex Brokers – Australian Forex Brokers List

best Australian forex brokers

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.

Trading Products

Pepperstone broker offers 5 products to trade with competitive spreads. From the financial products you can trade: 

  • Forex
  • Index
  • Stocks
  • Commodities
  • Crypto

Pepperstone Forex Review – Account Types

Razor account

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.

Standard account

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.

Account Verification

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:

  • Passport
  • 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.

Trading Platforms

Pepperstone offers the following forex trading platforms to use:

  • MetaTrader 4
  • MetaTrader 5
  • cTrader

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:

  • Skrill/Neteller
  • PayPal 
  • European Local Bank Transfer 
  • Qiwi  
  • Visa/MasterCard 
  • Broker to Broker 
  • Bank Transfer

Customer Support

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.




New to forex trading? To learn more about forex trading tips you can sign up for our free online trading academy here. Get started by clicking the blue “take this course” button.  Good luck!


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.

Trading Products

AxiTrader broker offers the following financial products to trade:

  • Forex
  • Indices
  • Commodities
  • Energies
  • Indices
  • Cryptocurrencies

Account Types

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.

Account Verification

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.

ID Document:

  • Passport
  • 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.

Trading Platforms

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)
  • Neteller/Skrill
  • Global Collect (only for Australian clients)
  • BPAY (only for Australian Clients)
  • China Union Pay (only for Chinese residents)
  • Bank Transfer
  • Broker to Broker Transfer

Customer Support

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.



New to forex trading? To learn more about forex trading tips you can sign up for our free online trading academy here. Get started by clicking the blue “take this course” button.

Forex Brokers For Canadian Residents – Top Canadian Forex Brokers

best forex broker in canada - avatrade

Is forex trading legal in Canada? Are you looking for forex brokers for Canadian residents?  We have you covered. The good news is, forex trading is perfectly legal in Canada. If you are looking for how to become a forex trader in Canada this list should get you started.  The IIROC (Investment Industry Regulatory Organization of Canada) oversees the forex industry on a national level, but local regulators also maintain control. Those that are Canadian residents can have a look at our top Canadian forex brokers below.

  1. AvaTrade best forex brokers in Canada
  2. – Best trading platform

Forex Brokers For Canadian Residents

AvaTrade – Canadian Forex Broker


AvaTrade EU Ltd incorporated in Ireland is regulated by the Central Bank of Ireland under reference number C53877. 

Ava Capital Markets Australia Pty Ltd is licensed in Australia by the Australian Securities and Investments Commission under license number 406684. 

AvaTrade Ltd – is authorized by the B.V.I Financial Services Commission.

Trading Instruments

AvaTrade broker provides access to the following trading instruments:

  • Forex
  • Bonds
  • Commodities
  • Stocks
  • Indices

Trading Fees

The swap rate known as the overnight fee will apply to each order that’s held overnight.

AvaTrade charges a fee of $50 if you do not trade in a period of 3 consecutive months. The inactivity fee will increase to $100 per month if you don’t trade for 12 consecutive months.

Account Verification

To start trading, first, you’ll need to provide an ID document and a proof of address document. 

ID Document:

  • Passport 
  • ID card
  • Driving license

Proof of Address:

  • Utility bill (electricity, water, gas, mobile or landline phone, local authority waste disposal, etc)

The proof of address document should not be older than 6 months.


Spreads on EUR/USD and GBP/USD currency pairs start from 0.6 pips. Other pairs such as USD/JPY offer spreads from 0.7 pips. Spreads on USD/CAD pairs start from 1.5 pips.

Trading Platforms

MetaTrader 4, MetaTrader 5, AvaOptions, and Web Trading are the available platforms to trade. MetaTrader 4 and 5 offer a full experience with a flexible and fast platform. You can open up to 21-time frames on MetaTrader 5 and up to 9-time frames on MetaTrader 4. 

The platforms offer 37 graphical objects such as drawing tools that can help you to improve your analysis. AvaTrade broker allows hedging only on MetaTrader 4. The platforms offer a user-friendly experience, with multiple pending order types.

Besides MetaTrader platforms through applications, AvaTrade offers a simple forex trading platform to use. The Web Trading platform from MetaTrader it’s accessible only through web browsers.

Web Trading platform offers instant forex trading with one-click trading. Pending and stop orders are offered through a web trading platform, and you can also access charting options. A wide range of analytical tools and overlays can be used for your forex trading analysis.

Deposit & Withdrawal

AvaTrader offers deposits through Debit/Credit Cards and  Bank Wire Transfers. The deposit process with a Debit/Credit Card is instant, but for new Canadian traders, this process can take up to 1 business day due to security verification.

The Bank Wire Transfer process can take several business days. The withdrawal process can be requested only through the same method that you’ve used to deposit funds. 

For e.x if you deposit through Bank Wire Transfer, then, you can only use the Bank Wire Transfer to withdraw your funds. The withdrawal process with Debit/Credit Cards can take up to 5 business days. Withdrawals through Bank Transfer can take up to 7 business days.

Customer Support

The live chat support team it’s available to answer your inquiries from Monday to Thursday (7:00 AM – 10:45 PM). On Friday, the live chat it’s available from 7:00 AM to 10:30 PM.  You can also reach the support team through phone and email. The help center contains quick answers to any questions that you may have. – Best trading platforms

IIROC Regulated Forex Brokers is also regulated by The Investment Industry Regulatory Organization of Canada (IIROC regulated forex brokers) broker is regulated by The National Futures Association (NFA) Commodities Futures Trading Commission (CFTC) in the United States. 

The broker is regulated by the Financial Conduct Authority (FCA) in the United Kingdom. 

The broker’s also regulated in Australia, Japan, Cayman Islands, Hong Kong, and Singapore.

Trading Instruments broker offers the following markets to trade for Canadian clients: 

  • Forex 
  • Energies 
  • Futures

Account Types

You can choose 3 account types to trade, the Standard, Commission, and STP Pro account. The standard account provides access to the trading platforms available. You can trade 82 forex currency pairs in total and you can enjoy features such as cash rebates, waived wire fees, forex market strategist, API trading, and earn interest.

The commission account offers almost the same features and limits as the Standard account does. But, there are limits on the trading platforms, so, you cannot use the MetaTrader 4 trading platform.

STP Pro account is suited mostly for experienced traders with a large balance. STP Pro does not allow trading through MetaTrader 4, and you can trade 60 forex currency pairs in total. But, with this account, you’ll have more features such as the STP model, direct forex market access, and other features.

Account Verification

Account verification is required, and you can use the following documents to complete the verification.

ID documents:

  • Valid, current passports (national or international)
  • Valid, current driver’s license
  • Valid, current national ID Card

Proof of Residence documents:

  • Utility bill
  • Bank, building society, credit or debit card statement
  • Council tax bill
  • Local government address registration certificates
  • Valid driving license


Overall, broker provides the lowest spreads among other forex brokers in Canada. Spreads for the Standard account on EUR/USD start from 1.0 pips. 

The Commission account offers lower spreads from 0.2 pips on EUR/USD. Spreads are very tight on the STP Pro account that starts from 0.1 pips.

Trading Fees

Commission applies only to the  Commission and STP Pro accounts. A commission fee of $5 will apply to the Commission account type for 100,000 lots trades. If you trade with the STP Pro account, a commission fee of $60 per 1.000.000 lots will be charged. will charge a fee of $15 (or 15 base currency equivalent) per month to accounts without trading activity for 12 months.

Trading Platforms offers advanced trading platforms and more alternatives to the trading platforms compared with other brokers. The list of available trading platform include:

  • Web Trading 
  • Mobile Trading 
  • Desktop Platform 
  • MetaTrader 4 
  • MetaTrader 5

All trading platforms can be great for both beginners and experienced traders in the forex world. The platforms offer customizable dashboards, powerful charting tools, multiple indicators, and advanced analytical tools.

Deposit & Withdrawal

The minimum amount to deposit and withdraw funds is $100 or currency equivalent. You can use the following payment methods to deposit or withdraw funds:

  • Bank Wire Transfer
  • Debit Card/Credit Card

Deposit methods with Visa will be processed instantly on your account. If you use the Bank Wire Transfer to deposit funds, the process can take up to 1-2 business days. 

Bank Wire transfer may take up to 2-5 business days. A $25 fee is charged within the US, $40 for international wires (including Canada).

Customer Support offers support for its Canadian forex traders through email, live chat, and phone. The live chat support team it’s available 24 hours a day from 10 AM Sunday to 5 PM Friday. You can visit the FAQ page to get more information about any service related to the broker.



To learn more about forex trading tips you can sign up for our free online trading academy here. Get started by clicking the blue “take this course” button.  Good luck!

Can You Make Money Trading Forex – How To Make Money On Forex

Can You Make Money Day Trading

Can you make money trading forex? Yes you CAN!  Traders can make money in forex by opening buy and sell positions on the market. The forex market allows you to trade many currency pairs such as the dollar, euro, pound, yen, and other currencies. 

To be successful in trading, you need to be determined and focused on trading and this takes time. Forex involves real money and when you use real money it’s more stressful for you to trade. To improve your trading performance, use the risk management and other factors are very important in forex.

And, in this article, we will give some tips that can help you make money trading online forex.

Choose A Reputable Forex Broker

Using a reputable broker is very important for your trading experience. To find a reputable broker you’ll need to research the broker that you’re joining. And most importantly, you’ll need to use a regulated broker.

 Avoid brokers that are unregulated and have a low score of positive reviews. This can help you to determine that the broker is not reputable. To see if the broker is regulated, you can visit the about page on most of the brokers or at the bottom page.

(Need help choosing a forex broker?  Have a look at this forex trading platforms review article here.)

If you use a reputable broker, you don’t have to worry about scams or stop hunts. A reputable broker will offer you competitive spreads and commission. Forex brokers are regulated with licenses in different countries.

Most of the forex brokers hold a license from regulators as:

  • United States National Futures Association (NFA) 
  • Financial Conduct Authority (United Kingdom)
  • Cyprus Securities and Exchange Commission (CySEC)
  • Australian Securities and Investment Commission (ASIC) 
  • Swiss Financial Market Supervisory Authority (FINMA)

If you want to learn how to make money on forex join our free forex trading academy here.

Practice On A Demo Account

Before you sign up for a real money trading account it is important that you sign up for a free paper money trading account.  Before you can make money trading forex you need to learn how to “lose money” the right way, if you will Trading on a demo account is crucial for your journey as a trader. Demo trading helps you to prepare yourself before you jump on a live account with real money. You can easily create a demo account from your broker or create one from the trading platform that you’re using.

If you trade on a live account without enough time spent on a demo account it can have negative results for you as a trader. When you trade on a demo account for a long time, you’ll be more prepared as a trader. Demo trading will help you to find trading strategies, use risk management, learn how to react to losing trades, and more.

Use A Trading Plan

If you want to know how to make money trading forex with no previous experience then the best strategy is to have a trading plan.  You can’t just wing it and try to do day trading for a living and just wing it.  A forex trading plan can improve your trading performance. When you use a trading plan you’re organizing your trades and decisions. The trading plan allows you to create a list that you should not do in trading. Using a trading plan is very important especially when you trade on a live account. 

Trading on a live account will affect your emotions and can lead to unpredictable decisions. With a trading plan you’ll be able to control your decisions and not trade based on your emotions. Besides emotions, a trading plan can improve your discipline in general. In a situation when you’re facing bad trades, the trading plan will help you with the right decisions.

In general, the trading plan it’s recommended for all traders, especially for new traders. Most of the new traders don’t know how to react to different market situations and this can lead to mistakes. With a trading plan, you’ll be able to control your trading decisions by using the proper risk management, and not trade based on your emotions.

Equally important to having a trading plan is to journal your trades and if you want to be trading for a living you need to keep track of your trades.  You need to write down all of your trades that you make.  Get organized.  It’s how the professional traders do it.  We recommend logging your trades into a trade journal as you make them.  Make 20 trades, journal them then go back and review those trades.  You’ll learn a lot about your progress or lack-thereof and be able to analyze your trades.  Journaling your trades is one of the easiest things to do in trading but most new traders don’t take the time to do it.  If you are going to be successful at trading then learn to journal your trades and review them either at the end of the day or at the end of the week.  No need to review each trade until you have a good dataset of trades. Meaning that 20 trades is a good number of trades to be able to review and get a good feel for your progress. If you want to be day trading as a career this is one of the most important steps.

Learn From Your Mistakes

You can make a living trading forex but you need to get accustomed to also making mistakes and losing when you first start.  Mistakes happen to both new and experienced traders. But, the difference between the new and experienced traders is that the experienced traders learn from mistakes. New traders are not familiar with trading due to inexperience and this turns them into unpredictable decisions.

You should be able to learn from your mistakes and try not to avoid them in the future. Even the experienced traders do mistakes after many years spent on trading. But, they’re able to learn from the mistakes and not repeat them. That’s what makes forex traders much effective in trading.

If you’re a new trader, you should learn from mistakes by analyzing your past mistakes. To analyze your mistakes, you can use a trading journal or backtest. One of the most important factors in trading is to backtest. When you analyze your past mistakes you’ll understand the key mistakes that lead to the wrong decisions. 

Backtesting will improve your trading if you analyze the past market data. Besides backtesting, you’d check your past results from the trading journal. Keeping track of your trades by writing them in a trading journal can help you to analyze your trades easier and learn your mistakes.

Don’t Get Emotional During Trading

Emotions in trading are important as they are key factors to your decisions. In situations when you’re facing losing trades, the emotions can become overwhelming. This can lead to unpredictable decisions because of uncontrollable emotions, especially FOMO (fear of missing out). To avoid emotions in trading, you should stick to your rules in trading.  Getting into a trade and out of a trade at the right place will help you make money trading forex and make a living trading forex

Following your trading plan and journal will help you to avoid emotions in trading. Greed in trading is very common and it can lead to bad results. When you close trades on profits, the greed will become a factor in your decisions if you’re not sticking to your trading rules. Greed can also affect your risk management rules and push you to commit mistakes.

To avoid emotions and greed, you should use risk management. By using risk management on your account, you’ll be able to control how much to risk.  (To see our position size calculator click here.) Besides risk management, you should analyze your trade results by backtesting them.

If you are new to forex trading and you want to learn more about you can join our free trading academy where we have many forex trading tutorial.

3 Top Forex Books – Best Forex Trading Books

forex for beginners book

Best Forex Trading Books

Some of the best forex trading books are found online and books offer an easy method to learn forex trading away from online learning. These days, trading education is done mainly online with courses through videos, webinars, and paid online forex courses. 

But books still remain one of the best choices to learn trading even if they’re a bit different to learn from than online learning.

In the early days, books were the only option to learn trading due to a lack of lessons online and not enough usage of the internet. But, nowadays the internet has become the first choice for learning and usage.

Forex books offer valuable lessons that can help you in your trading. And, in this article, we will share the 3 top forex books.

Trading in the Zone (Mark Douglas)

Best Forex Trading Books
Best Forex Trading Books

Focused on mental preparation, Trading in the Zone is one of the best forex trading books and offers very good tips and lessons on trading psychology. Emotions and psychology in general are important in forex and this book covers these lessons. In this book, Mark Douglas highlights how to overcome fear in trading and become a disciplined trader. The book covers lessons of the fear of losing money, mistakes, and more.

Tips and lessons in this book offer a complete guide to the financial market. One of the favorite quotes of the book explains the lack of trust in your trades. “To be consistent, you have to learn to think about trading in such a way that you’re no longer susceptible to conscious or subconscious mental processes that cause you to obscure, block, or pick and choose information based on what will make you happy, give you what you want, or avoid pain.”.

Further, Mark Douglas in his forex book explains why trading offers individual freedom. The book covers the most common mistake made by traders that consider currency trading like a casino. Gambling in trading is very common and highlighted well by Douglas. Besides psychology, the forex trading book contains some lessons about technical analysis. Some lessons as moving average, trends, support, and resistance are covered in this forex trading book too.

Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude

Naked Forex (Alex Nekritin)

Top Forex Books
Top Forex Books

Compared with the book “Trading in the Zone”, Naked Forex focuses mostly on the technical part and is one of the best selling forex books online. The book covers the technical analysis and highlights the importance of the technical part of trading. Compared with the book “Trading in the zone”, Naked Forex focuses mostly on the technical part. 

The book covers the technical analysis and highlights the importance of the technical part of trading and offers the best books on forex price action. Even the indicators make the list on the technical part, the author highlights the trading without indicators. The book focuses on “pure” technical analysis without extra trading tools like indicators or expert advisors. 

You can read lessons and tips explained well about support and resistance. Besides that, the book contains lessons about market chart patterns. Some of the most common chart patterns as a double top, double bottom, inverted shoulder, etc. 

The book covers Last Kiss, Wammies, and Moolahs which are not very common in trading.

The book is valuable to read as it covers the psychology part like the book from Mark Douglas. The book, Naked Forex covers the common mistake made by forex traders which is risk management. Lessons on this book are focused on mastering attitude towards risk and how to become a professional forex trader.

The book address six key steps for every trader to improve. Besides zones, market chart patterns, the book also covers the trend lines. In general, the book was written to inform traders to analyze the forex markets mostly on the technical part without indicators. and is an excellent forex for beginners book.

Naked Forex: High-Probability Techniques for Trading Without Indicators

How to Day Trade for a Living (Andrew Aziz)

forex for beginners Book
forex for beginners Book

Day trading style is the focus of this book written by Andrew Aziz. The book describes the fundamentals of day trading style. The author explains why day trading is different from other trading styles. Beginners in trading can also read this book as the book is not complicated for newcomers in trading too. 

Reading this book will help you understand trading and what to expect from day trading style according to the author. Developing a trading strategy is very important and this aspect is covered a lot in this book. Traders who pretty good knowledge of trading, can jump to chapter 7 as the first chapters cover basic lessons. 

Different from other trading styles, day trading focuses on extra trading tools. The author of the book lists tools as moving average and indicators. The technical part it’s covered this with good lessons that cover different factors of technical analysis.

Most major factors in technical analysis, support, and resistance are covered in this book. You can also learn about reversal trading with charts explaining reversal movements on the forex market. The book covers the foreign exchange market chart patterns as the ABCD pattern, bullish flag, and other market patterns.

The book it’s suited for stock traders but also forex traders too. The author explains all the indicators that he uses on his daily trading basis. Strategies when to enter trades and when to close the trades are covered in this book. Take profit target and stop loss level are covered by the author of this book too.

How to Day Trade for a Living: A Beginner’s Guide to Trading Tools and Tactics, Money Management, Discipline and Trading Psychology