If you want to be a successful trader in Australia, you should get informed about the best brokers on the market. There are plenty of trading companies out there, but not all of them provide the best services at the highest standards. You will be required to know some valuable information before opening an account with one of these firms. This is why we have come up with a list of the Forex Australia best choices.
Forex Australia Top 7 Choices
This trading company is one of the best Forex Australia choices, being regulated by some certification authorities such as CYSEC and FCA. The firm was launched in 2009, and since then it has gained a lot of popularity and a good reputation. XM has experts who are well-known for their transparency and professionalism. This broker offers plenty of revolutionary features. You can trade a wide range of assets like stocks, indices, precious metals, and even energies.
As a client, you have the possibility to open one of their three account types. The basic type is called the Micro account, and its minimum deposit is 1,000 units. If you can afford the premium account, which is known as the Executive type, you will be required to deposit at least 100,000 units. If you want something in between, you can opt for the Standard account.
Most of their clients are satisfied with this company’s services. According to them, LMFX has a well-organized customer care department. Also, their welcome bonus can reach up to 100 percent, which is an important competitive advantage. The company accepts both euros and US dollars. Besides the possibility to open a practice account, this broker also offers the following membership types:
- Premium. If you are one of the Forex Australia retail traders, then this is the right account for you. It gives you plenty of flexibility, and its leverage can reach up to 1000:1.
- Zero. This is also called the low-cost account type. If you open this membership, you will be able to work with Interbank spreads. The leverage equals that of the premium account.
- Fixed. If you want to trade with fixed spreads, this account type is the perfect choice for you. You will receive a personal account manager’s support. Also, you will become eligible to receive different bonuses.
- PAMM. This acronym stands for “Percentage Allocation Money Management.” It was specially created for beginner traders. If you don’t have enough experience in this field, PAMM account offers you enough perks to help you gain profits. For example, you will receive the support of a professional manager.
Plus500 was founded in 2008, and it is certified by FCA, CYSEC, and the Australian Securities and Investments Commission. One of the good things about this Forex Australia choice is that clients don’t have to pay any fees when they make a deposit or withdrawal. Their customer service is available in over 23 different languages. Also, once you become a registered member, you will receive generous bonuses. If your account has been inactive for more than three months, Plus500 charges an inactivity fee of five dollars.
Keeping it simple, the company offers only two account types. The first one is the practice membership, which is totally free of charge. Also, this account is unlimited; there’s no expiry date. The second account is the Live one. In this case, you will be required to deposit at least 100 dollars. It will take only five minutes to open any membership. This broker’s platform is totally safe and secure, being optimized for both Vista and Windows XP.
eToro is one of the best Forex Australia brokers, having more than five million traders in more than 140 different countries all over the globe. It was founded in 2012. This company focuses on both educating and entertaining their clients. eToro has received functioning certifications from CFTC, also being an NFA member. It is a completely safe and secure trading platform, being regulated by CYSEC. Its versatile features are one of the firm’s main attractions.
If you want to open a new account, you should be aware that the initial deposit is only 50 dollars, which is one of the lowest deposits on the trading market. The minimum investment is 25 dollars. Regarding their customer service support, you should know it is available in more than four different languages. Besides the demo and live accounts, eToro also offers an Islamic membership.
This trading company is a great choice if you are a beginner. It also offers a low initial deposit of only 100 dollars. As their client, you have the possibility of opening a practice account, which will help you develop new skills. Markets.com was launched in 2006, and it is regulated by both CYSEC and FCA. The welcome bonus is a generous one, reaching up to 2,000 dollars. Every investment must be at least of 1,000 units. You can choose from a wide range of account types:
- Demo account. It is available for only one month. After that, it will expire. The company will provide you with 100,000 dollars in virtual money.
- Classic membership. This is a great choice for beginner traders. The minimum initial deposit is 100 dollars.
- Standard account. It is one of the most popular account types of Markets.com. You will be required to make a 2,500-dollar deposit.
- Premium membership. This was specially created for professional and experienced traders. If you afford to place at least 20,000 dollars into your account, you will be able to open a premium membership.
Netotrade is on the market since 2010, and the minimum deposit for a new account is 250 dollars. This trading company has plenty of great features and options. The only weak point is that it doesn’t accept US traders. Their withdrawal process if a simple and quick one. You can use plenty of payment methods such as credit cards, bank transfer, e-wallets, and more. This broker provides four different types of accounts:
- Mini. If you are a newcomer or a beginner, this account is the right choice for you. The welcome bonus reaches up to 25 percent. You will have instant access to all trading platforms.
- Gold. The initial welcome bonus is 20 percent. You will receive a personal account manager’s support and full access to all educational resources.
- ECN. If you are a professional or at least an experienced trader, this is the right account for your type of expertise. They will receive a welcome bonus of up to 15 percent.
- Platinum. Being the most exclusive account, this membership offers plenty of features and options such as a live chat support, market updates, and more.
It was launched in 2010, and soon after that, Pepperstone has gained a lot of popularity among traders. They provide low spreads and fast trade execution speeds. This is the second most popular platform in the world. Another great thing is that their customer service support is available 24/5. Pepperstone offers only two different types of accounts: standard and razor. The first one was made for beginners and has no commissions. The second account is a true ECN membership. It has a commission of about 3.5 Australian dollars for every 100,000 dollars traded with the company.
Once you open a new account, you become eligible to receive a welcome bonus. These bonuses can go up to 600 dollars each. You will need to make an initial deposit of at least 200 dollars. Make sure you withdraw your bonus because it expires in 60 days after opening the account.
Putting It All Together
When it comes to the best Forex Australia brokers, there are plenty of options to choose from. We have detailed some of the most popular trading companies because we wanted to make your selection process a lot easier. Make sure to gather as much information as you can. Look for the best broker that suits your needs and preferences. Don’t forget to search for as many details about it as possible, looking at things such as account types, minimum trades, and deposits, commissions, and fees, etc.