Best Online Forex Brokers In Australia

Benefits Of Forex Brokers

The following are some of the key advantages of using a regulated forex broker: Your trading funds are safe, secure, and segregated. As a regulated and licensed Forex broker, one of the requirements is to have segregated financial accounts that separate the funds of your clients from your own business funds. This ensures that if a broker encounters difficulties, investors will be able to withdraw their cash and will not lose their money. Brokers will also be obliged to publish information on their range of trading instruments on offer to clients, such as Forex, futures, stocks, or options, in addition to having high credibility and adhering to guidelines. Transparent & Honest Trading Operations Transparent trading operations also include the broker’s business procedures. One that is regulated will make certain that their promises and offers are truthful and, more significantly, do not mislead potential clients and traders.

You may be assured of a better and easier trading experience if you choose a regulated broker that provides 24-hour customer service during trading days. We’ve compiled a list of the top 5 Forex Brokers in Australia in this article.

1. City Index

City Index was named Best in Class for the category in 2022 thanks to a well-designed, adaptable mobile app. The flagship Web Trader platform from City Index combines modern trading tools with integrated research in a spectacular way. The City Index mobile app delivers integrated research, news headlines, and market commentary, as well as sophisticated functionality and ease of use.

With a Trust Score of 99 out of 99, City Index is rated low-risk. City Index is a publicly-traded company that does not run a bank and is regulated by three tier-1, one tier-2, and one tier-3 authority.

2. FOREX.com

For 2022, FOREX.com received Best in Class accolades in two major categories: Investment Offering and Mobile Trading. FOREX.com’s multi-asset offering shines the brightest on its flagship Advanced Trading and Web Trading platforms, with a wide selection of markets available. Performance metrics are now available to live account holders for free thanks to FOREX.com’s acquisition of Chasing Returns.

With a Trust Score of 99 out of 99, FOREX.com is rated low-risk. FOREX.com is a publicly-traded company that does not operate a bank and is regulated by four tier-1, one tier-2, and one tier-3 regulator.

3. FXCM

FXCM was established in 1999. FXCM delivers monthly execution reports that show slippage statistics and trade execution quality for all order types. FXCM offers the ZuluTrade platform for copy trading in addition to the native Signals market on MetaTrader. Whether you’re a newbie using Capitalise.io or a seasoned coder using Python, FXCM is a pioneer in algorithmic trading solutions.

With a Trust Score of 93 out of 99, FXCM is deemed low-risk. The parent business of FXCM is publicly traded, does not operate a bank, and is regulated by three tier-1, three tier-2, and zero tier-3 regulators.

4. eToro

In 2007, eToro was established. Its user-friendly web platform and the eToro mobile app make it ideal for casual and beginner investors. With over 3,000 symbols available, eToro continues to increase its offered variety of markets as a multi-asset broker. Club members and prominent investors who gain higher tier rank are eligible for VIP-style benefits.

With a Trust Score of 91 out of 99, eToro is rated low-risk. eToro is not a publicly-traded company, it does not run a bank, and it is regulated by two tier-1 regulators, one tier-2 regulator, and no tier-3 regulators.

5. IC Markets

Offers low average spreads and competitive pricing across all account types. The IC Markets MetaTrader platform is enhanced with third-party research and trading tool plugins. In 2022, IC Markets is our top-ranked MetaTrader broker. Traders who wish to run algorithmic strategies would love IC Markets’ low-cost, scalable execution.

With an overall Trust Score of 85 out of 99, IC Markets is considered low-risk. IC Markets isn’t a publicly-traded company, and it doesn’t run a bank. One tier-1 regulator, one tier-2 regulator, and one tier-3 regulator have all given their approval to IC Markets.

Final Thoughts

When considering a Forex broker, you should consider not just the spreads and commissions you will pay, but also whether the Forex broker is properly regulated. Choosing the appropriate broker can mean the difference between keeping or losing your trading cash. A regulated broker is one whose actions are monitored and overseen by a local regulatory authority in order to prevent the broker from engaging in fraudulent activities or taking excessive risks.