I don’t believe there is a ‘single’ best Forex broker for foreign exchange trading, that would meet everyone’s needs. Same as there is no single indicator or Forex trading style that is best for everyone, nor is there simply one best FX broker suited to every Forex trader. Forex trading is a very personal endeavour, with differing available capital, risk tolerance, trading strategy, styles and trading account requirements.
It can also be difficult for traders to know who are the trusted and truly reputable Forex brokerage firms in Australia. Therefore, I have hand-picked and reviewed in detail, the top ASIC regulated Forex broker lists for 2017 covering a variety of features traders look for, including standard Forex accounts and electronic communication network (ECN) Forex trading accounts.
Below you’ll find a comparison of the best foreign exchange brokers for 2017. These include the cheapest online Forex trading; access the interbank market with the best ECN broker accounts (all are Australian forex brokers too); best fixed spread CFD FX broker; and largest product range Forex broker.
To view our detailed broker review and ratings, simply click on the star rating in the tables below.
All brokers listed on this site are ASIC regulated and will therefore have an Australian Financial Services (AFS) Licence number available.
Best ECN Forex Broker Accounts
Forex electronic communications network (ECN) trading accounts always operate on a no dealing desk (NDD) basis. The spreads are typically tighter than standard accounts as the foreign exchange broker does not add any additional spread. However, they charge a fixed commission instead when a trade is made.
Fixed Spread FX CFD Brokers Comparison
Fixed spreads do not change under normal foreign exchange market conditions. This means the bid-ask spread does not vary based on time of day, or general forex market fluctuations and volatility. A fixed narrow Forex spread is more convenient and predictable for customers, compared with variable spreads.
TradeDirect365 are the clear winners in fixed spread forex trading with outstanding low 24 hour fixed spreads available not only on Forex CFDs, but all CFDs they offer. There is no other Australian regulated broker that has fixed spread trading available at such tight fixed spreads across the entire product range. Forex traders will be pleased to see majors pairs such as AUD/USD, EUR/USD and USD/JPY all fixed at just 0.8 pip!
Standard Account Foreign Exchange Brokers
* Australia’s No. 1 retail Forex provider: By primary relationships, Investment Trends November 2014 FX Report.
Foreign exchange (also known as Forex, FX or currency) derivatives are complex, leveraged financial products and require a certain level of experience, so may not be suitable for everyone. Forex trading carries a high level of risk to your capital and can result in losses which exceed your initial deposit. Please ensure that you understand all the risks involved.
Reviews and comparisons for best forex broker Australia are conducted independently, however FX Brokers or products included on this page may not suit your financial situation, personal objectives or needs.
Trading Forex, either online forex trading or any form of online trading in the forex market, is not a decision to take lightly. If you are considering acquiring any financial product for currency trading you should obtain and read the relevant PDS (Product Disclosure Statement) and/or other offer document/s prior to making any financial decision. If you are unsure of the risks when trading forex, or have any doubt whether you have sufficient financial resources or experience to trade these forex Australia or foreign exchange market products, you should take professional advice before trading FX or opening a Forex broker account.