In fact, some of the best Forex brokers in Australia may not be based in Australia at all! Nevertheless, the benefits of choosing an Australian Forex broker should not be overlooked. Specifically, Australian Forex brokers may provide market updates during the Asian trading session, stronger customer support availability during local trading hours and a connection with local banks. Australians aren't the only ones who think their currency is valuable. If you live down under, however, you may feel more comfortable trading your own currency over others.
For this reason alone, it's a good idea to look for Forex brokers in Australia that offer the best spreads and execution for AUD pairs and crosses. One important thing to consider is that Australian regulated brokers are able to offer up to 1: By investing the time and energy in obtaining this type of regulation Australian Forex brokers are indicating that they're invested in protecting the security of their clients' funds and that they aren't a fly-by-night brokerage that will take your money and close.
Of course, brokers regulated in other regions have demonstrated similar willingness. The biggest difference, however, is that if you're based in Australia and you worry about ever having to make a claim against your Forex broker, you may want to do so to a regulatory body that is in your area.
It is also worth noting that some brokers have ASIC regulation as well as regulation in other regions, indicating a global reach and a commitment to trustworthiness.
Consider trying out a few of our top rated Australian Forex brokers by opening a demo account and testing the trading conditions for yourself.
You may be surprised to find that there are different advantages and disadvantages to each broker. Check out the broker list below to get started. The company was established in the UK in and has been around for over 30 years, a timeframe that is practically unheard of in the industry. FXCM was listed among the fastest growing companies by Inc. It is regulated and licensed in each of them. Pepperstone, established in , is an Australian-based ECN broker.
It was founded in and is regulated by ASIC. Pepperstone is an ideal no desk broker that accommodates all trading styles. Report Broker Scams Forex Widgets. Top Forex Brokers in Australia. City Index City Index Website. Enter your email address here: Sign Up Read Review.More...