Best Forex Trading Platform Australia - Relaxed Mode
Best Forex Trading Platform Australia
Best Forex Trading Platform Australia

Best Forex Trading Platform Australia

Your success as a forex trader largely depends on the platform you are using. So, searching for the best forex trading platform Australia is the right step in the right direction.

To help you make an informed decision on which broker is best for forex trading in Australia, I have provided the best based on a lot of factors such, ease of use, speed of execution, traders’ support and many more.

Forex trading (currencies) is popular among Australian residents and international traders seeking an Australian-based broker. The Australian Security and Investment Commission must authorize any forex broker before they can accept forex and CFDs traders. The Australian Securities and Investment Commission (ASIC) is the financial markets regulator in Australia.

When you search online, you will see a good number of brokers in the Australian market. The problem though, as a beginner Australian trader, is the difficulty in knowing the best forex trading platform Australia. In this article, we will help you decide exactly who to choose as your trusted forex trading platform. The platforms you will find below were chosen based on in-depth research.

IG Markets

IG offers you a comprehensive trading package. Their platform features excellent trading and research tools, industry-leading education, and an extensive range of tradable markets. IG is a multi-asset broker that is publicly traded and regulated across the globe.


  • It is publicly traded and regulated in six tier-1 jurisdictions, so it is a safe broker (low-risk) for forex and CFDs trading.
  • It is ranked as the most trusted broker for forex and CFDs in most 2022 reviews.
  • IG is the second-best for Platforms and Tools and first for Research.
  • It is among the best in class (top 7) for Offering Investments (with over 19,000 tradable instruments), Commissions and Fees, Education, Mobile Trading, and Professional Trading.
  • IG acquired tastytrade for $1 billion, helping it to introduce options trading and listed derivatives (futures) trading to U.S. clients.
  • It offers Smart Portfolios and share-dealing, as well as listed derivatives including options and futures trading in the U.S. and Europe.
  • It offers forex and CFD trading (and Spread Betting for U.K. clients).


  • Its web platform lacks predefined layouts making some manual configuration compulsory.
  • Its MetaTrader only offers 76 tradable instruments.

CMC Markets

CMC Markets features excellent pricing and a selection of over 12,000 tradable instruments. It is a well-trusted forex trading platform across the globe and delivers one of the most exciting trading experiences. It features a proprietary Next Generation trading platform that is packed with quality research and innovative trading tools. CMC Markets finished Best in Class across 10 categories for 2022.


  • It is publicly traded and regulated in four tier-1 jurisdictions alongside two tier-2 jurisdictions, so it is a safe broker (low-risk).
  • CMC Markets is low-cost, featuring a considerably lower trading cost compared to others in the industry.
  • It offers competitive pricing to active traders; discounts and rebates are available depending on your country of residence.
  • Its next-generation platform features a massive selection of over 12,000 tradable instruments.
  • Its platform boasts of good user experience, advanced tools, comprehensive market research, and an excellent mobile app.
  • Their Invest app is available in Australia for exchange-traded equities.
  • Its Dynamic Trading product for professional clients allows for the fine-tuning of allocations through percentage weightings of investment portfolios.


  • Its MetaTrader 4 (MT4) offering has fewer tradable symbols.
  • The platform lacks progress tracking, quizzes, and interactive content.
  • In recent months CMC TV has produced less video content with just a weekly webinar.

 City Index

City Index is among the best forex trading platform Australia due to its versatility and backed by StoneX. It features an excellent mobile app, diverse market research, and an extensive range of tradable markets. The City Index mobile app balances advanced functionality with ease of use.


  • It is regulated in three tier-1 jurisdictions, so it is a safe broker (low-risk) for forex and CFDs trading.
  • Its flagship Web Trader platform features a combination of advanced trading tools and integrated research.
  • It features a well-designed, versatile mobile app that balances advanced functionality with ease-of-use
  • City Index ranked Best in Class for the mobile app category for 2022.
  • Its mobile app also features other offers such as integrated research, news headlines, and market commentary.
  • Its SMART Signals subscription with an in-house engine generates up to 200 distinct trading signals each week.


  • It’s yet to offer Meta Trader 5, and its MT4 offering has a smaller product range.
  • It has failed to produce in-house video content/updates on its YouTube channel in recent months.

 IC Markets

IC Markets is owned by International Capital Markets PTY and was founded in 2007. The platform is licensed by the Australian Securities and Investment Commission (ASIC). It has its head office at Level 6 309 Kent Street Sydney, NSW.

The IC Markets platform offers the MetaTrader 4, the MetaTrader 5, and cTrader market access platforms. The MT4 and MT5 platforms are trading platforms that have a high-reliability level. The cTrader on the other hand was designed especially for true ECN connectivity. The IC Markets also features low spreads and a high leverage ratio, as well as a complete educational center.

Hence, the reason for being one of the best forex trading brokers in Australia.


  • It offers a 24/7 Customer support
  • It features competitive spreads
  • Its leverage ratio is 1:500
  • It has a resource packed educational center


  • It does not offer bonuses or cash rebates


Eightcap Pty Ltd is authorized and regulated by the Australian Securities and Investments Commission (ASIC). Its market access is through the MetaTrader 4 and MetaTrader 5 trading platforms for Web (MT5 only), PC, MAC, and Mobile. It offers clients the ability to trade on more than 300+ financial CFD instruments covering Forex, Indices, Commodities, Shares, and Cryptocurrencies.


  • It is ASIC compliance.
  • Features commission-free trading with competitive spreads.
  • It has more than 300+ financial CFD instruments.
  • It offers Metatrader 4 and Metatrader 5 platforms.


  • It is VFSC (Vanuatu Financial Services Commission) regulated in addition to ASIC.


TMGM is regulated by the Australian Securities and Investments Commission (ASIC), the Vanuatu Financial Services Commission (VFSC), and others. It segregates client funds from its own, holding them with tier 1 Australian banks Westpac and National Australia Bank. Users in this platform can trade on more than 15,000 financial CFD instruments.

TMGM features 7 asset classes including Forex, Metals, Energies, Cryptocurrencies, Commodities, Indices, and Shares from the US, Australia, and Hong Kong. TMGM has 2 types of trading accounts- Edge and Classic. The Edge Account features commission-based trading of $7 per round turn and raw spreads from 0 pips. And the Classic Account offers commission-free trading with spreads from 1 pip.


  • It has over 15,000 financial instruments
  • Features commission-free trading
  • It offers ECN trading accounts
  • It has MT4/MT5 and IRESS trading platforms
  • If offers 24/5 customer service


  • It has limited trader research and education resources.

 FP Market

FP Markets is belongs to First Prudential and offers online forex and CFDs trading. First Prudential is an Australian-based company with its head office located at Level 5, Exchange House, 10 Bridge St, Sydney NSW. It is regulated by the Australian Securities and Investment Commission (ASIC) with AFSL license number 286354.

Its market access is through the MetaTrader 4 (MT4), the MetaTrader 5 (MT5), and the IRESS trading platforms. FP Market spreads start from as low as zero pip as the broker claims to offer true ECN connectivity. It also offers a selection of trading accounts to choose from, both for spot forex trading and CFDs trading.


  • It has 3 trading platforms for traders to choose from
  • Features competitive spreads
  • It boasts of ECN trading
  • Traders can own multiple trading accounts


  • It has no proprietary platforms, just MetaTrader.
  • It has a limited list of assets

Best Forex Trading Platform Australia-Conclusion

When selecting the best Forex trading platform Australia, there are several things to keep in mind. Some of the key things to look out for when choosing the best Forex trading broker as an Australian are:

  • Is the trading platform easy to use, and does it execute trades instantly?
  • Can the platform provide you with a wide array of trading tools to enhance your market analysis?
  • What is the quality of the trading charts? Can the charts provide an in-depth look at the price movements?
  • Does it have additional tools that further extend your trading capabilities like economic calendar, currency and pip calculator, updating news stream, and trading directly from charts?

All these, we considered before coming up with the list above

Israel Chima

Israel Chima is a pro blogger that derives joy in helping small and medium businesses gain an online presence.

He guides business owners in having a full online presence by creating world-class websites, social media marketing, and content marketing.

Well-written SEO content ranks easily on the first page of Google, which translates to getting real customers.

Israel chima is an authority in planning and developing well-structured SEO content. So, you can contact him for your blog content.

He is the author of book 3 books on entrepreneurship, education, and transportation business. You can check out his book on Amazon titled “Discover to Recover.”

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