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Best forex brokers in Australia
16 licensed forex brokers, ranked on the company that would actually open your account. How we rate
All 16 forex brokers
| # | Broker | EUR/USD cost | Instruments | Min. deposit | Coinish Score | Actions |
|---|---|---|---|---|---|---|
| 1 | | 0.6 pips | 17,000+ | Not verified | 78rated 4.2/5 | |
| 2 |  Licensed in Australia · ASIC | 0.6 pips | 1,700+ | Not verified | 71rated 3.5/5 | |
| 3 |  Licensed in Australia · ASIC | Not verified | 5,500+ | Not verified | 71rated 4.4/5 | |
| 4 |  Licensed in Australia · ASIC | 0.6 pips | 10,000+ | A$100 | 70rated 4.4/5 | |
| 5 |  Licensed in Australia · ASIC | 0.5 pips | 12,000+ | Not verified | 70rated 4.1/5 | |
| 6 | Licensed in Australia · ASIC | 0.6 pips | 2,850+ | Not verified | 68rated 4.1/5 | |
| 7 | Licensed in Australia · ASIC | Not verified | 1,000+ | Not verified | 68rated 4.0/5 | |
| 8 |  Licensed in Australia · ASIC | 0.6 pips | Not verified | Not verified | 67rated 3.7/5 | |
| 9 | Licensed in Australia · ASIC | 0.7 pips | 4,000+ | $0 | 67rated 4.0/5 | |
| 10 |  Licensed in Australia · ASIC | Not verified | 1,250+ | $100 | 62rated 3.4/5 | |
| 11 |  Licensed in Australia · ASIC | Not verified | 2,800+ | A$100 | 61rated 3.5/5 | |
| 12 |  Licensed in Australia · ASIC | 0.7 pips | 1,350+ | Not verified | 60rated 3.8/5 | |
| 13 |  Licensed in Australia · ASIC | 0.6 pips | 1,000+ | Not verified | 58rated 4.2/5 | |
| 14 |  Licensed in Australia · ASIC | Not verified | Not verified | A$50 | 57rated 3.1/5 | |
| 15 | 0.45 pips | 250+ | Not verified | 55rated 3.5/5 | ||
| 16 |  Licensed in Australia · ASIC | Not verified | 800+ | Not verified | 46rated 3.3/5 |
Good to know
Forex rules in Australia
Providers need an Australian financial services (AFS) licence. ASIC's CFD product intervention order limits retail leverage and runs to 23 May 2027.
Regulator sources (3)
“If you want to run a financial services business, you generally need to be authorised under an AFS licence”
asic.gov.au · Oct 5, 2026
“ASIC’s order reduces CFD leverage available to retail clients”
asic.gov.au · Oct 5, 2026
“for a further five years to 23 May 2027”
asic.gov.au · Oct 5, 2026
Forex in Australia at a glance
- 16 forex brokers with a verified licence serve residents of Australia: 16 hold a local licence (ASIC).
- Top pick by Coinish Score: IG (78/100, Editor Rating 4.2/5).
- Lowest advertised EUR/USD all-in cost: 0.45 pips (Fusion Markets), across 10 brokers that publish one.
- No minimum deposit: ThinkMarkets.
How this ranking works
Ranked by Coinish Score: half the Editor Rating for the entity that serves residents of Australia, half Market Signal. Brokers without enough verified data for a rating are placed by Market Signal and labelled; brokers with neither are listed last. How we rate
Forex in Australia: what to know
All 16 forex brokers on this list hold a licence from the Australian Securities and Investments Commission (ASIC) (IG, OANDA, Capital.com, FP Markets, CMC Markets and 11 more).
ASIC's CFD product intervention order limits retail leverage to between 30:1 (major currency pairs) and 2:1.
Advertised all-in EUR/USD costs on this list run from 0.45 pips (Fusion Markets) to 0.7 pips (Pepperstone) across the 10 that publish one.
What to check before you open an account in Australia
- Search the company name on the ASIC register (moneysmart.gov.au).
- Check which company your contract is with. IG, for example, onboards residents of Australia through IG Australia Pty Ltd (ASIC licence 515106), and the name on the account-opening documents should match the list.
Is forex trading legal in Australia?
Yes, with a licensed provider. Providers need an Australian financial services (AFS) licence. ASIC's CFD product intervention order limits retail leverage and runs to 23 May 2027.
Sources: asic.gov.au, asic.gov.au
What is the best forex broker in Australia?
By Coinish Score, IG (78/100, Editor Rating 4.2/5), through IG Australia Pty Ltd (ASIC licence 515106). OANDA (71) and Capital.com (71) follow. The score rates the company that would serve you in Australia, so the same brand can rank differently in another country.
Have ASIC's leverage limits worked, and how long do they last?
ASIC's CFD product intervention order took effect on 29 March 2021 and now runs to 23 May 2027. ASIC measured its effect over the first six months. Retail clients' combined net losses fell 91%, from $372 million to $33 million a quarter on average. There were also 51% fewer loss-making accounts, 87% fewer margin close-outs and 88% fewer negative balances.
Every broker on this list holds an ASIC licence, so the order covers all 16 of them whenever they deal with you as a retail client.
Source: asic.gov.au
Coinish provides general information only. Nothing on this site is investment, tax or legal advice.