The quest online to find the best CFD broker Australia has brought you here and we made it make it our mission to dig into this with the same vigour as we do when searching out our own broker for trading.
As traders ourselves, we know the process of searching through various online platforms and reviews is less fun than it may seem at first. After all, as a trader, you want to be actively trading rather than reading about brokers, unsure about which sources to trust.
What we will do for you here is break down how we are rating the best online brokers in Australia, sharing with you how you can verify the ASIC regulation status. This will be wrapped up with a list of brokers we have found to be the best in each instrument (CFD, Forex, Stocks, Crypto) for Australia with a short explanation why.
If you want to know why we want to verify the brokers with ASIC, see the short section below about what ASIC do, and how they protect you as a trader. If not, feel free to jump straight to the lists of best brokers in Australia and how we have rated them below.
The Best Online Broker Australia Categories
– Best Forex Broker Australia : Pepperstone : low spread forex broker with Razor from 0.0
– Best CFD Broker Australia : AvaTrade : huge range of CFDs, with some excellent new trading features
– Best Stock Broker Australia : eToro : stocks with 0% commission
– Best Online Broker Australia : Admiral Markets : wide range of instruments including ETFs, and stock, all on a great online trading platform selection
How We Rate The Best Brokers In Australia
Why It Is Important To Use ASIC Regulated Brokers
Best online Broker Australia List Featuring The Winners of Forex, CFD, Stocks, & Crypto Categories
Best Forex Broker Australia – Pepperstone continue to impress as a low spread forex broker with Razor from 0.0
This Australian giant of the forex industry is as local a broker as they come. Having been born and bred in Melbourne, by Australians, it can be said that Pepperstone know the market better than anyone.
There is a specific entity for Australia and the ASIC regulated arm, Pepperstone Group Ltd. When you are onboarding with Pepperstone, if you want to be sure you are registering with the Australia based arm you can click here.
As per our requirement to be amongst the best online broker Australia, Pepperstone have ASIC regulation, ably backed up by FCA regulation for trading across Europe, and DFSA for onboarding in he Middle East. BaFin registration has recently been added for Germany, and Pepperstone is fast becoming the tale of a local Australia forex broker going global.
Pepperstone also have offices in Melbourne, and any complaints or issues can be handled comfortably by the Australian Financial Complaints Authority. Now we have not found much room for complaint from our side, and from our wider checks of other trusted review portals, Pepperstone Trustpilot rating is holding firm at 4.7 out of 5. That being said, it is always nice to know the local option is there with AFCA!
A Forex Specialist Wins The Best Forex Broker Australia Award, No Surprise There!
There is no denying that this Australian broker is a forex specialist, with spreads as low as 0.0 for AUD crossed Major pairs. You also have the option to trade MT4, MT5, TradingView or via cTrader so there are all the bases covered there.
Trading the ASX is supported via Indices CFDS, the only thing missing really is the option to buy individual ASX listed stocks. If this is a deal-breaker for you, take a look here at our best broker for Australia stocks as an alternative.
WHAT WE LIKE
- Spreads on Razor from 0.0
- Great range of platforms
- Execution and reliability are strong
- More instruments would be nice to see
Other Notable Names In Best Forex Broker Australia List
Best stock broker Australia – eToro offer Australian stocks with no commission
eToro are a more global operator but have made a very specific aim to be more localised to its’ Australian traders in recent years. There is now an Australian office, ASIC regulation, and a range of stocks that are now able to traded completely commission free with a low minimum deposit level.
The eToro Australia entity is eToro AUS Capital Pty Ltd, with offices located in Hunter Street, Sydney. The best telephone number to reach eToro support when trading with the broker locally would be 1-800 778 439 but there are alos numerous international numbers available.
eToro has recently dropped forex spreads by more than 60% across major pairs which shows that what was once more of an innovator for the novice trader, is fast developing into a really competitive global player. With spreads starting from 1 pip, the forex offer from the broker becomes more competitive by the day but that is not why they feature here.
Over recent years, each Country that eToro target seems to take to this online broker as smoothly as the last, and it appears as though Australia feels the same. What was once one of the best CFD brokers in Australia are now evolving into multiple areas of specialty. eToro are now in a clear position as one of the best online brokers in Australia, whether you are trading forex, stocks, or cryptocurrencies.
A Global Online Broker with Australian Dedication
There is real growing dedication to Australia being shown from eToro. Customer Support is operating when you need it, payment support for AUD is as good as any, and the range of instruments on offer to trade is as wide as you could possibly want.
Copy Trading is something that not a huge amount of Australia based brokers offer. This is another area, alongside crypto trading in Australia, that eToro get some bonus points in comparison to the other best online brokers on this list.
You will find a very long list of cryptocurrency that can be bought both directly, or via CFD trading. Commodities and Indices Trading choices are also in the plenty. It is though as the best stock broker Australia that eToro earn their place on this list.
There are a massive range of local and international stocks available, and you can gain access to these markets all with 0% commission. Gone are the days of spending a minimum of $10 per stock buy/sell if you use eToro and that cannot be a bad thing. You can also to choose to take positions with or without leverage, as real stocks or CFD contracts.
The one thing that holds eToro back is a little lack of sophistication in its’ trading platform. It is a very user friendly and simple platform to use, but for anyone who has come from an MT4 trading background and has become accustomed to the more detailed nature will find eToro a little simple.
This will not be a problem for anyone coming from traditional stock trading as there is still a lot more features with eToro than you could expect. If you are starting your trading journey with charting, eToro are pretty much the perfect option in terms of keeping it simple.
WHAT WE LIKE
- Low minimum deposit
- Huge instrument range available as both ‘real’ and CFD
- Intuitive platform and social trading pioneer
- Reduced spreads
- More advanced charting
Other Notable Names In Best Stock Broker Australia List
Best CFD Broker Australia has great product range and global regulation, AvaTrade
Avatrade is very much a global player, and is one of the most regulated forex brokers in the World. It should come as no surprise then that Avatrade proceeded to secure their ASIC regulation, operating under Ava Capital Markets Australia.
The Avatrade Australia regulation is supported by others in Japan, Ireland, Poland, South Africa, UAE, and BVI. This commitment to regulation in all operational markets is a great positive from the Avatrade team.
In terms of Australia physical presence, Avatrade have an office in Park Street, Sydney and a local telephone number for support (+61 272018721) which is always a positive. Customer support is also provided 24 hours a day, 5 days a week so that you will never find Avatrade out of reach, regardless of the market you are trading on.
Best CFD Broker Australia Needs Negative Balance Protection as standard
A positive coming from Avatrade’s extensive regulatory framework is the existence of negative balance protection, regardless of the entity you are contracting with. This is a strong plus, and is designed to protect you as a trader.
Whilst Avatrade Australia have a competitive range of instruments to trade, including stocks CFDs, there are no ASX listed companies to trade. You can still trade the ASX as an index, alongside a strong range of AUD forex pairs so will not be short on options, but this is something that pulls Avatrade down slightly in this list of best forex brokers Australia.
Overall, a very solid choice if you are looking for a forex broker in Australia; Avatrade will provide you a safe and trusted trading environment, a great range of platforms supported, and a customer service team that can be reached when you need them. For the wider position of CFD trading, AvaTrade are a strongly top 5 rated broker, and our best CFD broker Australia (assuming you do not plan on trading ASX stocks as a CFD).
WHAT WE LIKE
- Trading app
- Lots of features
- Lower spreads
- Australia listed stocks
Other Notable Names In Best CFD Broker Australia List
XM – Global broker with ASIC regulation forex excellence
XM are another global broker with roots in Australia and a forex focus. With ASIC regulation under the company name Trading Point of Financial Instruments Pty Ltd, XM are a broker that has a strong track record of excellence.
There is a good range of instruments across all financial markets, with the ASX listed stocks that can be traded as CFD currently sitting at 20. Whilst this is not as high as some other brokers, the variety across other instruments such as commodities, forex, and indices are very solid.
10+ years in the markets is reassuring
With 10 years of history under their belt, alongside 7 years as an award winner in some shape or form, XM are a trusted forex broker in Australia without a doubt. You will find the physical XM office in George Street, Sydney and local telephone support available 24 hours a day, 5 days per week (+612 8607 8385).
If you are looking for one of the best online brokers in Australia, and do not purely want to buy stocks in local companies, XM are one of the top brokers available.
The best online broker Australia with the widest range of ETFs and Stocks is Admiral Markets
You will find Admiral Markets Australia office in Castle Street, Sydney. The pre-requisite ASIC regulation is held by Admiral Market Pty Ltd so do make sure you have selected the right entity when operating an account here. As Admiral Markets are also regulated by the FCA, ad CySEC, they are a broker that has a clear focus on regulation in their core markets.
Australian traders with Admiral Markets will find a great range of assets to trade, including Australian listed ASX shares, and ETFs, which are less common amongst the competition. Whilst the broker is offering 0% commission on stocks and ETFs, this is currently excluding Australian and Japanese listed shares.
The costs to trade the major forex pairs including AUD are low, with spreads from 0.5 on standard accounts. Whilst Admiral Markets may not necessarily stand out massively in one area, they are very competitive across all markets they offer. This is hard to compete with and a massive plus, especially to those amongst you who trade more than a single instrument type.
CFD Broker Dividends and ETFs at scale – A serial Award winner
You will be eligible to earn dividends on shares CFDs (leveraged equities) with this Australia based broker and have access to 300+ ETFs and more than 3000+ global stocks.
With more than 40 awards bestowed on Admiral Markets in 19+ years, this is a broker that does not seem to do anything badly. One of the best online brokers in Australia for forex, CFD trading, and shares.
WHAT WE LIKE
- Low spreads broker from 0.1
- Commission free stocks
- No proprietary app so far for mobile trading
Other Notable Names In Best Online Broker Australia List
ASIC regulated brokers – why are ASIC one of the best and what do they do for you online and off
The Australian Securities & Investments Commission (ASIC) is an independent commission appointed by the government with some clear guidelines. ASIC regulation has good standing globally and is classed as Tier 1. This means that ASIC regulation is amongst the highest level of trust a broker can have from a global regulator in all of forex, CFD, or online trading.
Brokers that are regulated by ASIC are bound to abide by the rules put in place by the regulator and are then governed by them. What are some of the rules you ask?
These rules include the amount of leverage that can be provided to users, the way in which brokers are able to market or induce new traders to join the platform, as well as how they should treat users that have established accounts and begun to trade there. This covers the full life cycle of you as a user, and is essentially there to protect you from malpractice at each stage in your trading journey as an Australian, or International user of Australia regulated brokerages.
That being said, ASIC is not only a financial trading regulator of online brokers, but one that is responsible for all of financial services in Australia.
This means that the remit is to cover credit (both loans and credit cards), banking, insurance, Superannuation, trading, as well as almost any other financial product that you as an Australian would want or need.
For the purpose of this quick summary, we are just going to look at the things that cover investment related products such as trading, seeing as this is likely what you are here for.
How does an ASIC regulated broker help you?
In governing the places that you trade, ASIC are working with their regulated brokers to abide by their legal obligations, meaning to “operate fair, orderly and transparent markets”. The strong overarching theme of all, is consumer protection.
If you want to be protected in who you are dealing with, only deal with those who are prepared to legally agree to the rules that are there to protect you. This means as an Australian, you need ASIC regulated brokers, and none other.
The other processes that ASIC helps you with include :
– checking that a broker is appropriately authorised and regulated
– checking a list of unuathorised firms or public warnings
– reporting misconduct or inappropriate behaviour
Some recent changes by ASIC include the adaptation of leverage that CFD brokers can offer, down from in many cases 1:500 to 1:30. This is a great step in consumer protection and brings the region in lock step with the leverage offered in Europe under since ESMA changes in 2018. There are a few exceptions to this rule, if you are treated as a professional level trader, but for the retail majority, this is a good way to ensure that your trading account is less subject to being wiped out by relatively minor moves in the market.
How we rate the best online brokers in Australia
1. The Best ASIC Regulated brokers only
The hunt to find the best online broker in Australia will only include those with the appropriate local licensing, ASIC regulation. If a broker also has an Australian based office or local presence, then this can only be considered an advantage but for an online broker is not essential.
There are many online brokers based on the other side of the world that would like you trade with them, but they may not be aware of the nuances of the Australian market and customs. In this case, a local presence will win out.
Whilst you are of course free to make your own choices, global brokers that do not have the required regulation is an issue for this best online broker Australia list. No brokers targeting Australian users without an ASIC license will feature here, but if you are looking for some of the best globally regulated brokers and are not from Australia, we cover those elsewhere.
2. The best forex brokers in Australia have a range of AUD trading pairs and a locally specialised offer
Our list of best online brokers in Australia will make a concerted effort to focus only on brokers that offer great AUD conditions and variety. Alongside this, we would want to see other primary trading assets that are most popular with Australia based users.
If CFD brokers in Australia want to be considered amongst the best, the instrument range needs to cover the main ASX listed equities and commodities that are traded by many. The best CFD broker Australia, and the best forex brokers, will need to be giving both a range of trading options that Aussie users want to see, with a low cost trading fee structure that fits the bill.
3. Australia Dollar denominated trading accounts is a plus
The option to deposit into (and operate) an account in Australian Dollars will be an added point that will help us to separate those that are the very best online brokers in Australia, with the rest of the top list.
This is the same regardless of the category the broker specialises. Forex, CFD, shares, and crypto brokers alike that provide AUD functionality are that much more adapted for Australian traders and investors so will be treated as such.
4. Being the lowest spread forex broker in Australia helps!
When you are buying or comparing any service, in any Country, there is always the element of price to consider.
Providing the services delivered and the offers are similar, you would want the lowest spread forex broker above just a forex broker with low spreads. There are many brokers with low spreads in Australia these days but you need to make sure that they are not hiding commissions, or offering this at the expense of execution. Execution issues and slippage could end up costing you a lot more than a slightly wider spread in the long run.
It is the overall total cost of the trade that we need to consider for both the best online, and best CFD broker Australia as there are often other fees here than spreads. The lowest spread forex broker, and the other online brokers with low spreads are rated better in these categories than higher cost equivalents, and offering low spreads will help to feature alongside the best.
5. The best brokers make it easy to trade ASX with minimal fuss
To be the best online broker Australia, we need to make sure that you can trade on the main Australian stock exchange, and with a good variety of options. Online brokers in Australia that have ASX200 listed stocks available alongside the main index are considered above those that do not.
A good indices trading range of other major global exchanges, alongside the local ASX index, will have an added preference, as will those who offer strong commodities and mining instruments.
Online brokers with proper roots in Australia will know exactly what you as a local trader is most likely to be looking for, and that will not be overlooked. It has been made clear from the research put into this list of the best brokers in Australia that a lot fall short in this regard.
Many of the online brokers that offer services to Australia do not have the instruments that people are trading most often, and that will eventually mean users move on. As a large proportion of locally based traders are involved in stocks, shares, and commodities that drive the economy of the Country from a GDP perspective, these are the instruments that need to be offered in order to retain clients longer term.
6. Commodities trading should be a feature of the best CFD broker Australia, with multiple methods
Being traders ourselves, we know how frustrating it can be to start trading with what you have thought was the best CFD broker or trading platform, and then have to switch to an alternative for other instruments.
Just to be clear, by multiple methods we do not mean that an CFD broker needs to allow you to take a large shipment of physical gold or oil (not going to happen) but to trade in alternative ways.
Trading stocks in relevant companies, alongside direct commodities is a way that you can consider taking both longer term, and shorter term views into account. This can also be used as a method of hedging or managing volatility seeing as certain instruments behave differently to market news.
If you are trading in oil or energy in general, but like to cover the market by both trading the actual commodity as a CFD, alongside individual energy companies’ shares, you will need a broker that can meet those needs. We have run through the analysis to ensure the best CFD broker Australia delivers that range for you.
Sticking power of a broker, and getting that product offer right from day one is important. It makes life so much easier as a trader if you can have all your needs dealt with under one roof, even if it is not always possible.
7. Top notch customer support that works when you do
It is essential for us that you are able to reach customer support during the Australian working day, and that the customer support team understands the Australian financial services environment.
We do not expect even the best online broker Australia to completely replace a financial advisor, and they will not (as most are non advised), but the basics of local products are expected as a minimum.
Within the range of ASIC regulated brokers we will delve into, the history of their customer feedback is going to be important. We are taking into account both the ‘expert’, and user reviews seen from other trusted trading platforms as this is important to gauge the wider view of the broker from users who may have been trading there for considerable periods of time.
8. The best CFD broker Australia needs a user friendly trading platform
It is an essential part of any online CFD broker offering that there is a good trading platform to back this up. User experience is not dictated so much by the actual broker itself when you are trading self directed online, but more so from the trading platform. So much so that we have dedicated a full detailed overview of how to find the best trading platforms in Australia separately.
As we have delved into this in detail elsewhere, we are only going to skim the topic on this page but do know that the trading platform functionality is an important part of the all around best CFD broker Australia package.