Platforms for forex trading 9

Best Forex Trading Platforms In Australia For 2022 [Rated & Reviewed]

With a well-regulated financial sector, Australia has become a go-to place for foreign exchange trading in 2022. Forex is the most liquid market in the Australian financial world, with nearly 70 forex brokers holding Australian Financial Services licences. But which forex trading platform is the best?

We tested and ranked 11 forex brokers in Australia.

Use our review below to compare forex trading platforms by fees, available trading platforms and spreads.

Each has different pros and cons, and only you can decide which is the best forex trading platform in Australia for your needs.

1. Etoro.

Best overall forex trading platform in Australia.

Etoro is a social trading and multi-asset brokerage platform with offices in Cyprus, Israel, the United Kingdom, and Australia.

The company was founded in 2007 with the vision of opening up the financial markets to everyone, regardless of experience and revolutionising the online trading industry.


Etoro has the most user-friendly user interface. Unlike Pepperstone and Plus 500, it provides users with its proprietary trading platform which beats its competitors in user experience stakes.

Inbuilt social trading tools are eToro’s other main differentiator.

With over 300 million trades stored in its database, it allows you to copy the successes of other investors.

eToro’s fee structure is built around a spread-based commission model.

Spreads start at 0.75% for major currency pairs such as EUR/USD and increase to 4% for more exotic currency pairs.

There are also overnight fees (or rollover fees) that are charged when you hold a position open overnight. These start at 0.01%.


Note that eToro has some unexpected fees (e.g. withdrawal charges). Apart from that – not much!


Etoro is the best forex trading platform in Australia because it is easy to use, has a wide range of markets, and offers innovative tools such as copy trading and social trading.

Not only does it offer a wide range of CFDs, but it also offers 17 cryptos, including Bitcoin, Ethereum and Ripple.

Copy the portfolios of other successful traders Get insights and analysis from the trading community Deposit and withdraw using PayPal, bank transfer, or credit/debit card Buy stocks, ETFs, commodities, and cryptocurrency without commission.

2. Plus500.

Best forex trading platform in Australia for advanced traders.


Plus500 has some of the lowest starting spreads in the industry, at 0.6 pips for EUR/USD. Zero commissions and a $200 minimum deposit make it more attractive than many other forex brokers in this review.

A client survey conducted on CFD traders in 200 revealed that Plus500 has the most usable mobile platform.


Plus500 does not allow scalping or automation.

Plus500’s size is its other issue (as well as its greatest strength). With so many currency pairs on offer you can get lost in endless analysis without making any meaningful progress.


Plus500 is the best forex trading platform in Australia for those who want a simple, user-friendly platform with advanced features not found in Etoro and Pepperstone. It is the best forex broker in Australia for beginners.

No commission on trades User-friendly interface and mobile app Advanced trading tools available Leverage of up to 1:30 for retail clients The spreads are higher than average Limited range of markets compared to other brokers.

3. AvaTrade.

Best forex trading platform in Australia for total novices.

AvaTrade is a well-established online forex and CFD broker in Australia, with a reputation for customer support, competitive fees and spreads. It is regulated by three tier-1 and three tier-2 jurisdictions, including ASIC.


As a CFD trading platform, AvaTrade offers Australian investors leverage of 1:30 and 1:20 on majors and minors respectively.

It is also one of the friendliest forex trading platforms for beginners. The platform is user-friendly and features AvaTradeGO, a mobile app that allows you to trade on the go.

AvaTrade also offers a demo account with $100,000 virtual money, so you can test out the platform before committing any real funds.


Unfortunately, AvaTrade does not have the tightest spreads or lowest commissions when compared with other forex brokers. The variety of currency pairs is not as good as Pepperstone and Etoro, either.

Overall .

We like AvaTrade for its simplicity and ease of use. It’s the perfect place for beginner forex traders to familiarise themselves with foreign exchange markets, as it offers a simplified pricing structure and powerful risk mitigation tools.

Choice of 5 trading platforms Physical office in Australia Free demo account Extensive list of 3rd party integrations No inactivity fees Comprehensive support for beginner traders Excellent fees and trading conditions.

4. Commonwealth Bank Australia (CommSec)

Best forex trading platform for risk-averse people.


The largest advantage of trading with CommSec is the perceived security of dealing with Australia’s largest bank.

While its rates, fees and spreads are not as competitive as those of Etoro and Plus500, some investors will choose it because they trust the brand.


With a 1.6-star average review rating on ProductReview, Australia’s #1 consumer review site, it’s clear that there’s a gap between what CommSec promises and what it delivers. Most complaints are about terrible customer service and poor user experience.

CommSec also charges a commission of 0.10% per side for forex trades, with a minimum of $10 per trade.


Can an Australian bank offer a good forex trading platform? Sort of. If you already have a CommSec account, this isn’t a bad place to start. That said, the service leaves a lot to be desired.

A wide range of markets available to trade Low commissions on trades Option to trade shares and cryptocurrencies Backing of a large Australian bank.

5. Pepperstone.

Best forex trading platform in Australia for professional investors.


If you’re an inexperienced Australian forex trader, Pepperstone should be on your list.

With below-average fees, it’s perfect for those just getting started in the world of forex trading.

You get access to 22 different types of guides crafted by trading experts with substantial trading experience.

Pepperstone fees are built into the spread, with no commission charged on trades. The average spread on major currency pairs is 0.1 pips.


Compared with Etoro, Pepperstone has a more limited product range, which makes it more suitable for beginner investors.

Continuing the comparison with Etoro, we were disappointed not to find social or copy trading options, either.

Although Pepperstone is highly customisable and offers many of the same features as eToro, its social trading isn’t nearly as user-friendly.

Pepperstone fees are built into the spread, with no commission charged on trades. The average spread on major currency pairs is 0.1 pips.


Pepperstone is great if you want your forex trading platform to grow with you. While it offers a limited number of currency pairs, it excels in competitive spreads and good copy trading alternatives.

Get up to 500:1 leverage on major currency pairs Trade with MetaTrader 4 or cTrader platforms Deposit funds with bank transfer, credit/debit card, or e-wallets such as PayPal Low spreads from 0.0 pips Razor-sharp pricing from multiple Tier 1 banks No commission on forex trading ASIC and FCA regulated Fast and reliable trade executions Excellent customer service.

6. IC Markets.


With over 25 global liquidity providers, this forex broker offers low trading costs and excellent rates.

IC Markets offers forex market accessibility through 3 primary types of trading platforms:

MetaTrader 4, MetaTrader 5 cTrader.

Both MT4 and MT5 are dependable platforms that have been proven successful. (We have no direct experience with cTrader).

IC Markets, like Pepperstone that we reviewed above, caters to different types of forex traders by offering Raw Spread and Standard accounts.

Before committing to IC Markets, think about your go-to strategies, tools and styles – it will help you choose the best account for your trading style.


The user interface could be simpler and more intuitive. There’s something decidedly “last decade” about its design. Etoro and Pepperstone offer much better UX.


Scalpers and technical forex traders will find IC Markets an excellent choice for its straightforward pricing, global name recognition and fast execution speeds.

Beginner traders transitioning to more advanced or technical strategies will appreciate the company’s high-quality educational resources and great customer support.

Competitive spreads Extremely low forex fee A wide range of markets available to trade Physical office in Australia Advanced trading tools Leverage of up to 1:500.

7. Vantage FX.

Vantage FX has relatively low commissions at $3 per side, but spreads are often more competitive elsewhere. However, Vantage makes up for this with a unique offer for active traders.

Traders who meet the monthly activity requirements on Vantage FX can receive interest of 8.88% per annum on their account balance.

Vantage also offers a free suite of tools it calls the Smart Trader Tools Package . This package includes all the features you would expect from the standard MT4 platform but also offers some notable improvements.

Pros .

The interest of 8.88% per annum for active traders. The Smart Tool Package lets you take full advantage of the platform from day one at no additional cost. Free Unlimited Demo account lets you hone your skills – an invaluable resource for beginners.


Not the most competitive spreads.


Vantage FX is an attractive offering for anyone who is just starting out and wants to take their trading seriously. The Smart Tools Package is a wealth of valuable information and resources.

At the same time, the unlimited demo account is a great sandbox to practice in.

Vantage FX’s proprietary software lets you take advantage of the best of MT4 and MT5 without being exposed to the current controversy.

The only criticism we can make of Vantage FX is that, although the spreads aren’t terrible, there are better options elsewhere.

8. Axi.

Axi is a fully online platform based in Australia. As a low-cost brokerage, it’s a good choice for people just dipping their toe in forex trading.

But you get what you pay for in terms of limited trading options, no weekend customer service, and an interface that lags behind some of its competitors.

Axi’s interface is powered by Metatracker, so it should feel familiar to most experienced traders.


Low cost – no minimum deposit when opening an account and relatively low forex fees.


Limited product range – trading is limited to forex and CFDs. Outdated research tools – while they’re certainly workable, there are newer and more advanced options. 24/5 customer service – if you’re not a full-time trader, it’s helpful to have customer service open on the weekend.


Axi doesn’t have all the bells and whistles of other platforms we’ve reviewed here. It’s a low-cost platform with limited options.

No law says you have to do all your trading on one platform, so why not take advantage of Axi’s low rates for forex trading? You can manage the rest of your portfolio somewhere else.

9. has a reputation for being expensive. However, the spreads are noticeably better if you register for a premium MarketsX account.

Considering that the only requirement to access this membership tier is a $250 deposit, we feel the premium fees are a more accurate indicator of the overall experience. is quick and easy to set up. You can register entirely online and get cleared for trading that same day. Overall, the interface looks great and is relatively easy to use.


Free deposit and withdrawals. Fast registration and account management. Good learning and research infrastructure – for example, there are over 90 indicators available for technical analysis.


Potentially high forex fees. Trading limited to forex and CFDs. Web and mobile platforms lack some features.

Overall. is an easy platform to use. You can start trading almost immediately, and there are lots of useful research tools to explore. It can be expensive, so pay attention to the spread.

10. ACY Securities.

ACY Securities is only authorised by a single tier-1 regulator, the ASIC. This doesn’t sound as prestigious as some other brokers on our list, but for Australians, it’s the only one you need.

The reason we bring it up is that ACY Securities seems to actively discourage users outside of Australia by charging them higher than average rates. Again, not a problem for most of our readers – but something you may consider if you’re planning to live or work abroad.

The platform offers three account types, with better rates for higher deposits. Users can further lower their costs by attaining active trader status.

Enter the winner’s circle; one thing that makes ACY stand out is its year-long trading competition. The Trading Cup Contest allows users to win up to half a million dollars! Not bad work if you can get it.


Clearly laid out membership tiers, with competitive spreads on the highest tier. Bonuses are available for top performers. Active traders can reduce commissions by as much as 0.5 pips per lot.


Metatrader only broker. This could be a problem for Apple users as Metatrader is currently suspended from the App Store. Educational materials are hard to navigate. Expensive for users outside of Australia.


ACY Securities is a good option for experienced traders who are based in Australia. We wouldn’t recommend them for beginners or small traders, as there are more cost-effective alternatives for people in those categories.

11. FP Markets.

FP Markets is an Australian CFD and forex broker regulated by the top-tier ASIC. Fees are generally pretty low. However, it can be expensive to make international withdrawals.

For Forex traders, the commission is $3 per lot with an average spread of 0.9 pips. There is no inactivity fee, which is useful if you’re not a full-time trader.


Quick set up. Low fees. Standalone app.


International withdrawal fees.

Compare Australian Forex Trading Platforms.

How does my #1 recommended forex trading platform in Australia, Etoro, compare with runners-up? Let’s find out.

ETORO vs Pepperstone.

Etoro is a social trading platform, while Pepperstone is a traditional forex broker. Etoro has a much wider range of markets available to trade, including stocks, ETFs, and cryptocurrencies. Pepperstone only offers forex and CFD trading. Etoro offers commission-free trading , while Pepperstone charges a commission of 0.10% per side on forex trades. Etoro has a minimum deposit of $200 , while Pepperstone has a minimum deposit of $500.

ETORO vs Commsec .

Commsec comes with the perceived security of being backed by Australia’s biggest bank. On the flip side, Etoro is one of the world’s largest trading platforms. So, not only is Etoro a huge institution in its own right – but they’re also specialists.

Etoro has a user-friendly interface and quality customer service. Commsec is frequently criticised for its poor user experience and customer service. No contest here.

Etoro offers commission-free trading, while Commsec charges a .10% commission per side with Forex and a minimum of $10 per trade.

Etoro’s social trading features allow users to copy successful traders. Commsec has good information resources but hasn’t caught up to the social media age just yet.

Etoro vs AvaTrade .

AvaTrade’s simplified pricing structure makes it easier for beginners to get into Forex trading. Etoro generally offers lower spreads and commissions, though.

Etoro and AvaTrade are both easy to use and navigate, so it’s a draw when it comes to usability. Etoro offers a wider variety of trading options. Etoro lets you buy stocks, ETFs, commodities, and cryptocurrency without commission.

Etoro vs Plus500 .

Plus500’s spreads are very hard to beat – especially at the entry membership tiers. We give them the edge in this category, but only just.

Etoro and Plus500 offer advanced trading tools, but not the same ones. Really, it comes down to what kind of trader you are and which tools you prefer to use. We’re calling this a tie. Plus500 has a vast array of currency pairs to choose from, almost too many, which can be overwhelming. Etoro is easier to navigate in this respect. Plus500 lacks Etoro’s social trading features.

How Does Forex Trading Work?

The main goal of forex trading is to profit by exchanging one currency for another.

Forex traders speculate on the future value of one currency against another. They then make trading decisions accordingly.

1. CFDs Are Your Friend.

Importantly, forex traders don’t purchase the underlying asset. Instead, they engage in CFD trading that predicts the direction of price movement through a contract.

2. Pair Up.

Currencies are always quoted in pairs, such as EUR/AUD or AUD/USD.

The first listed currency of a currency pair is called the base currency and the second currency is called the quote currency.


When you purchase a currency pair from a forex broker, you effectively buy a CFD on base currency and sell the CFD against the quote currency.

The code’s price explains how many units of the quote currency it would take to buy the base currency. For example, a typical quote pair for 2022 is:

Here, the AUD is the base currency and USD is the quote currency. In other words, the Australian Dollar is worth 0.65 US Dollars.

Expert Tip.

The base currency always equals 1, while the number represents the amount of the quote currency it takes to purchase 1 unit of base currency.

3. Learn Leverage.

When you trade forex, you only put in a small amount of money compared to the full value of the trade.

Forex brokers refer to this technique as “leverage”. Also known as trading on margin, leveraged trading allows you to trade with a small stake in a much larger investment.

This is important, as currencies only fluctuate by minute amounts, and in order to make a substantial profit, you must trade large volumes.


Keep in mind that leverage works the other way around. If the exchange rate moves against you, you are held responsible for any losses from the entire value of the trade. Therefore, forex trading is usually better for experienced traders comfortable with taking risks.

What Do I Need To KNow About The AUD/USD Pair?

The AUD/USD is one of the world’s top-traded currency pairs.

Australia adopted a free-floating forex currency system in 1983, which means that the Australian dollar exchange rate is set by the demand and supply of Australian dollars on the foreign exchange market.

Today, AUD is one of the most traded currencies globally due to Australia’s wealth in metals, coal reserves, diamonds, meat production and wool.

Which factors affect this pair?

1. The RBA Official Cash Rate.

The actions of the Reserve Bank of Australia (RBA) have direct consequences on the AUD/USD pair.

In 2022 we have already seen the cash rate increase by 2.5% – and we’re still in October.

Of course, actions of the US Federal Reserve – aka The Fed – also play a huge part.

Shown above: the price of AUD has slumped during 2022, in large part due to interest rate hikes by the Fed.

Generally speaking, the interest rate differential between both banks will have a direct impact on the net position of the AUD/USD pair.

2. Commodity Prices.

Australia’s currency is strongly influenced by commodity prices as the country exports large amounts of coal and iron ore.


Interestingly, this has a knock-on effect on importers. When the Australian Dollar falls against the US Dollar, imports become more expensive for Australian businesses and consumers.

3. The Chinese Economy.

As China is Australia’s largest trading partner, any changes in the Chinese economy will also have an effect on the AUD.

Expert Tip.

The value of the AUD/USD pair is quoted as 1 Australian dollar per every X number of U.S. dollars, where X is the current market rate. For example, if the market rate is 0.75 it means that it takes 0.75 U.S dollars to buy 1 single Australian dollar.

How To Choose The Best Forex Trading Platform?

The best forex broking platform for you will depend on your needs and the platform’s benefits. Start by considering the following:

1. Who Are You?

Be honest about your commitment to forex trading and your level of expertise. Ask yourself:

Which currency pairs do I plan to trade? Do I plan to be a casual or full-time trader? How much experience do I have?

2. Does The Platform Have Essential Features?

Next, evaluate the forex trading platform through the following 7 lenses:

Does it have low or zero fees? For example, two of the best forex trading platforms in Australia that we came across – eToro and, do not charge trading commissions. Instead, investors cover the spread when placing an order. Does it have advanced trading and analysis tools? Advanced forex trading strategies require access to historical pricing trends, technical indicators and customisable charts. Does it have a sufficient selection of currency pairs? Generally, advanced forex traders want a wider selection. How fast are the execution speeds? Sub 0.1 second speeds are crucial if you don’t want to face slippage (which happens when prices change before your order goes through). Can you get a demo account? This will allow you to check whether the trading platform is the best for you in a 100% risk-free environment. How intuitive is the trading platform’s interface? If you don’t like using it, you probably won’t use it. Does it offer other asset classes? If you decide to trade stocks and cryptocurrencies in the future, you won’t have to jump through regulatory hoops twice.

3. Is It Regulated In Australia?

Ensure that your forex trading platform of choice is regulated by the Australian Securities and Investments Commission (ASIC).

This way, you can have assurance that the platform is legitimate and your funds are held in a safe ecosystem.

Did You Know?

ASIC regulation guarantees that Australian retail clients cannot have leverage limits exceeding 1:30.

4. Does The Trading Platform Offer A Phone App?

The best forex brokers in Australia also offer fully optimised mobile apps for both iOS and Android devices.

To provide the best user experience, trading apps should include all of the features available on the desktop platform, such as placing buy and sell orders, conducting market research, requesting deposits and withdrawals.

5. Does The Platform Offer Top-Notch Customer Service?

Look for a forex broker that offers five-star customer service.

The best forex brokers that earned top spots in this review offer support on at least a 24/6 basis, which matches activities of the global currency trading market.

Expert Tip.

Live chat with a real person (or at least with a competent bot that can direct you to the right resource) is a big bonus.

Is There The Best Time Of Day To Trade Forex?

The foreign exchange market is open 24 hours a day, five days a week (including most holidays). This means that you can trade forex anytime, anywhere.

However, not all times are created equal.

The best time to trade forex is during the London session or the New York session.

These are the times when the majority of international banks and businesses are active in the market, and when there is the most liquidity.

The London session runs from 3 AM to 12 PM GMT, while the New York session runs from 8 AM to 5 PM GMT. It means you’ll have to stay up pretty late if you live in Australia.

Can I Teach Myself How To Trade Forex?

Yes, but be careful. While there are no shortage of online gurus happy to sell you their forex trading course, it’s important to be wary of scams.

My #1 piece of advice for you is this: stop trying to learn everything from everyone.

A lot of beginners get lost in a sea of trading forums, e-books and blog posts.

They end up with a patched approach to their trading, characterised by dozens of indicators on their screen and hundreds of currency pairs in their head.

They endlessly flip through charts, achieving very little.

A better approach for someone just starting out in forex trading is to use a simple and focused approach:

Focus on 5 or 6 major currency pairs. For example, GPB/USD, USD/CAD, AUD/USD, USD/CHF, EUR/USD. These pairs have good volatility, good liquidity and tight spreads. Learn 2-3 trading strategies. This ensures you have consistent opportunities regardless of geopolitics. Strategies are like golf clubs – there’s no single perfect one, but you carry a few trusted ones and you use the right one for the right market conditions. Trade at the same time each day. You will learn faster, as you’ll be buffeted by less variables outside of your control. Watch the bigger picture. If you’re trading on the 1-hour chart, remember to periodically zoom out to the 4-hour chart to see which way the market is trending.

Expert Tip.

You will find several reputable forex trading courses on learning platforms such as Coursera and Udemy.

How Do I Start Forex Trading In Australia?

1. Open A Forex Trading Account.

For beginner traders, the best way to start forex trading in Australia is to set up a micro forex trading account with a low capital requirement.

Such accounts have variable trading limits and allow investors to limit their trades to amounts as low as 1,000 units of a currency.

For context, a standard account lot is equal to 100,000 currency units.

Another option for beginner traders is to use a demo account. A demo account simulates live trading conditions and allows you to test your strategies without risking any real capital.

2. Deposit Funds.

Once you have chosen the best forex trading platform for your needs and set up an account, you will need to deposit funds into your account.

Most Australian forex brokers accept deposits via bank transfer, credit/debit card, or e-wallet.

Expert Tip.

Avoid bank wires without Osko, as the funds take 2-3 days to arrive.

3. Search And Trade Currency Pairs.

Once your account is funded, you can start searching for forex pairs (as well as indices, commodities, shares, and ETFs).

Don’t be haphazard in your approach. Use resources on the Internet to find a trading strategy that appeals to you and stick to it. As a general guide:

Place a ‘buy’ order if you think the value of the currency pair will rise. Place a ‘sell’ order if you think the value of the currency pair will fall.

What Do I Need To Open A Forex Trading Account?

Applying for a forex trading account is generally a quick and easy process that can be completed entirely online.

Most forex brokers will have an online application form that you’ll need to fill out, after which you should hear back from them regarding the status of your application.

Have the following details and documents ready to help prove your identity:

our name Date of birth Address Proof of ID (e.g., drivers license, passport).

Expert Tip.

Some forex brokers will ask you to upload a photograph that shows your face and a piece of paper with a keyword and/or current date. This helps keep the platform free from fraudulent accounts.

Does ASIC Regulate Forex Trading Platforms In Australia?

All retail forex trading platforms in Australia must hold an Australian financial services (AFS) license. The license is issued by ASIC, the main regulator of forex brokers in Australia.

ASIC requires all forex brokers to meet certain standards, including:

Segregation of client funds : Client funds must be kept separate from company funds. Negative balance protection : Clients cannot lose more than their initial deposit. Financial stability : ASIC requires forex brokers to maintain a certain level of financial stability.

In addition, ASIC has a number of rules in place to protect investors, including the following:

Leverage limits: The maximum amount of leverage that a forex broker can offer is 1:30. Margin call level: ASIC requires forex brokers to issue a margin call when the account balance falls below 50% of the required margin. Stop out level: A stop out occurs when the account balance falls below 20% of the required margin. At this point, the broker will close all open positions.

Which Forex Trading Platform In Australia Is Best For Beginners?

Etoro is the best for beginners because of its:

User-friendly desktop interface and a mobile app that don’t intimidate you. Social trading that allows you to learn by copying trades of professional traders. Demo account that provides you with a sandbox environment and paper money.

Which Forex Broker Gives The Highest Leverage In Australia?

Gone are the days when you could get 500:1 leverage in Australia. As of the 29th of March 2021, the ASIC has capped leverage at 30:1.

Most platforms offer leverage of 30:1, the limit to what they’re legally allowed.


Keep in mind that higher leverage means higher risk. Only use as much leverage as you’re comfortable with.

Institutional vs Retail Forex Brokers.

Traditionally, institutional traders would buy and sell currencies on behalf of large hedge funds, pension funds, banks and businesses while retail traders would do the same for individuals.

Institutional investors generally have greater sums of capital at their disposal, which gives them access to the best forex trading platforms with:

That said, online forex trading platforms have blurred the lines between institutional and retail investors in recent years.

For instance, all individual Australian traders have access to derivative products such as Contracts for Difference (CFDs).

Does CommSec Do Forex?

Yes. Commonwealth Securities Limited (CommSec) is a securities trading platform provided by the Commonwealth Bank of Australia.

Established in 1995, today it is the country’s largest platform with over 55% of all investors using it to invest their money.

Despite impressive credentials and popularity, CommSec ranked as 3rd best forex broker in Australia because of the 0.6% foreign exchange fee on transfers from the Australian Dollar into other currencies.

Can I Trade Forex With $100?

Yes, but you probably shouldn’t.

While some forex brokers accept deposits as low as $100, the lack of leverage increases your chances of losing as much as 88% of your investment.

Can I Trade Forex In Australia Without A Forex Broker?

No, you cannot trade forex without an ASIC-regulated broker in Australia.

All Australian forex brokers must have an Australian Financial Services licence in order to act as an intermediary that buys and sells currency pairs on your behalf.

What Are The Risks Of Forex Trading?

Without risk there are no profits. Your ability to price and tolerate risks will determine your success in the forex trading game.

Here are 3 main forex trading risks that you should consider before signing up to a forex trading platform:

Exposure . Even though you front up a small percentage of the trade value upfront, you are still responsible for the entire amount. Small price fluctuations can result in margin calls, which require you to pay an additional margin. During volatile market conditions, aggressive use of leverage can lead to substantial exposure, where your losses exceed initial investments. Rapid fluctuations . The forex market is volatile – and currencies can move up or down a lot in a short space of time. Trading costs . Forex trading incurs transaction costs, including spreads (the difference between the bid and ask price of a currency pair) and commissions. These costs eat into your profits.

Closing Words On Best Forex Brokers In Australia.

To sum up, Etoro is the best forex broker in Australia, with the podium looking like this:

Etoro – Best overall. Pepperstone – Best for leverage. CommSec – Lowest Fees.

Remember that forex trading is most effective when you think of it as a long-term strategy. It’s not a path to overnight success.

Give yourself concrete goals, avoiding the temptation to think in 1-week and 1-month increments. Ask yourself:

What is my 5-year goal? What is my 10-year goal?

If you cannot work with such long horizons, currency trading (and trading CFDs in general) is not for you.

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Evan Wright.

06:15 06 May 22.

To Philippa,Thank you, THANK YOU. for your hard work with the complex problem I presented you with.As you are aware, 15 years since I was last in the meat-grinder that is the open job market (yikes). it seemed so much easier back then. You have managed to consolidate an atypical career path, a tome of experience. in less than a hand full of pages that will always be on top of the pile.An amazing skill.While the proof is still in the pudding, I am armed with a fantastic set of documents extolling amazing capabilities (. I had no idea). More importantly, you have also armed me with the resources to dip my toe into the chummed waters of career progression, with a huge amount of confidence.Thank you again. I have no doubt I will be in touch with good news soon.

Alexander Owen Rind.

08:01 03 May 22.

Fantastic service, Philippa is a phenomenal writer, amazing what her writing achieved for my LinkedIn. Would strongly recommend Arielle!