6 brokers compared · 2026

Best forex brokers in Australia

Australia is home to several of the world’s lowest-cost forex brokers. ASIC caps retail leverage at 30:1 on majors and requires negative balance protection, and its raw-spread brokers compete aggressively on commission.

By the FXBroker research desk · Updated October 2026 · Advertiser disclosure

01IC MarketsLowest costs and the deepest raw-spread liquidity.
02PepperstoneBest all-round platform choice and execution.
03FP MarketsLowest raw commission at $6 round turn.
04IGLargest market range and research.
05CMC MarketsBest for currency choice and charting.
06VantageRaw ECN pricing with TradingView and copy trading.

#	Broker	Score	EUR/USD	Raw / lot	Min. dep.	Regulators	Platforms	Links
01	IC MarketsScalpers and algo traders who want raw spreads	4.4	0.8pips	$8all-in	$200	ASICCySECFSA (Seychelles)+1	MT4MT5cTraderTradingView	Visit Review
02	PepperstoneActive traders who want tier-1 regulation and raw pricing	4.6	1.1pips	$8all-in	$0	ASICFCACySEC+4	MT4MT5cTraderTradingView	Visit Review
03	FP MarketsLow-cost cTrader and TradingView trading	4.4	1.0pips	$7all-in	$100	ASICCySECFSCA+3	MT4MT5cTraderTradingView	Visit Review
04	IGTraders who want the biggest market range and top-tier safety	4.8	0.9pips	n/a	$0	FCAASICBaFin+5	MT4TradingView	Visit Review
05	CMC MarketsForex variety and charting on a proprietary platform	4.7	0.7pips	n/a	$0	FCAASICCIRO+4	MT4TradingView	Visit Review
06	VantageRaw ECN pricing with TradingView	4.2	1.2pips	$6all-in	$50	ASICFCACIMA+2	MT4MT5TradingView	Visit Review

Spreads are typical values during liquid hours and change constantly. Raw / lot = raw EUR/USD spread converted at $10 per pip plus round-turn commission. Data checked October 2026. How we score.

IC Markets

Lowest costs and the deepest raw-spread liquidity.

4.4/5

IC Markets is one of the largest true-ECN style brokers by forex volume. Its Raw Spread account pairs near-zero EUR/USD spreads with a flat commission, and it supports MT4, MT5, cTrader and TradingView, which makes it a default choice for scalpers, EA users and high-volume day traders.

Pros

Raw spreads averaging around 0.1 pips on EUR/USD
MT4, MT5, cTrader and TradingView all supported
Fast execution suited to scalping and expert advisors

Cons

$200 minimum deposit is higher than XM or Exness
Limited in-house research and education

EUR/USD: 0.8 pips
Raw / lot: $8.0
Min. deposit: $200
Regulators: ASICCySECFSA (Seychelles)SCB (Bahamas)
Platforms: MT4, MT5, cTrader, TradingView

Pepperstone

Best all-round platform choice and execution.

4.6/5

Pepperstone matches IC Markets on cost while offering stronger tier-1 regulation, including the FCA and BaFin. Its Razor account delivers raw spreads with a low commission across MT4, MT5, cTrader and TradingView, and there is no minimum deposit.

Pros

Razor account with raw spreads and $7 round-turn commission
FCA, ASIC, CySEC and BaFin regulation
MT4, MT5, cTrader and TradingView

Cons

Product range is narrower than IG or Saxo
Not available to US residents

EUR/USD: 1.1 pips
Raw / lot: $8.0
Min. deposit: $0
Regulators: ASICFCACySECBaFin+3
Platforms: MT4, MT5, cTrader, TradingView

FP Markets

Lowest raw commission at $6 round turn.

4.4/5

FP Markets is an Australian ECN broker founded in 2005. Its Raw account charges $6 round turn with spreads from 0.0 pips, and it supports MT4, MT5, cTrader, TradingView and Iress for share trading.

Pros

Low $6 round-turn commission on Raw
Five platforms including cTrader and TradingView
ASIC, CySEC and FSCA regulation

Cons

Education is basic
Not available in the US or UK

EUR/USD: 1.0 pips
Raw / lot: $7.0
Min. deposit: $100
Regulators: ASICCySECFSCAFSA (Seychelles)+2
Platforms: MT4, MT5, cTrader, TradingView

IG

Largest market range and research.

4.8/5

IG is the world’s largest CFD provider by revenue and one of the safest brokers you can choose. It offers 80+ forex pairs and more than 17,000 markets overall, with excellent platforms, research and education.

Pros

FTSE 250 listed, 50 years in business
Huge range of 17,000+ markets
Tight EUR/USD spreads from about 0.6 pips

Cons

MT5 and cTrader are not offered
Some fees on share CFDs and data subscriptions

EUR/USD: 0.9 pips
Raw / lot: n/a
Min. deposit: $0
Regulators: FCAASICBaFinMAS+4
Platforms: IG Web, IG App, MT4, ProRealTime

CMC Markets

Best for currency choice and charting.

4.7/5

CMC Markets is a London-listed broker offering an unusually large range of 330+ currency pairs and crosses, competitive spreads from 0.5 pips on EUR/USD and the feature-rich Next Generation platform.

Pros

330+ forex pairs, the most of any broker we track
Tight spreads from 0.5 pips on EUR/USD
Next Generation platform with pattern recognition

Cons

No MT5 or cTrader
Platform depth can overwhelm beginners

EUR/USD: 0.7 pips
Raw / lot: n/a
Min. deposit: $0
Regulators: FCAASICCIROMAS+3
Platforms: CMC Next Generation, CMC App, MT4, TradingView

Vantage

Raw ECN pricing with TradingView and copy trading.

4.2/5

Vantage is an Australian-founded multi-asset broker with ASIC and FCA regulation, Raw ECN pricing at $6 round turn, TradingView integration and an in-app copy trading platform.

Pros

Raw ECN account with $6 round-turn commission
TradingView and MT4/MT5
Built-in copy trading in the Vantage app

Cons

Most international clients use the offshore VFSC entity
Research is limited

EUR/USD: 1.2 pips
Raw / lot: $6.0
Min. deposit: $50
Regulators: ASICFCACIMAVFSC+1
Platforms: MT4, MT5, TradingView, Vantage App

How we chose these brokers

ASIC licence: Each broker holds an Australian Financial Services Licence.
Cost: Raw spread plus commission per round-turn lot.
Platforms: MT4, MT5, cTrader and TradingView.
Execution: Speed and reliability during volatile sessions.

Scores use our standard methodology. Rankings on this page also weight the specific criteria above.

Frequently asked questions

Who regulates forex brokers in Australia?

The Australian Securities and Investments Commission (ASIC).

What leverage is allowed in Australia?

ASIC caps retail leverage at 30:1 on major currency pairs.

Which Australian broker is cheapest?

IC Markets, Pepperstone and FP Markets all offer raw spreads around 0.1 pips on EUR/USD with commissions of $6 to $7 per round-turn lot.

Risk warning: CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly. Between roughly 60% and 89% of retail investor accounts lose money when trading CFDs, depending on the provider. Consider whether you understand how they work and can afford to lose your money. Read the full risk warning.