Traders in Australia can choose from among a handful of top forex brokers. Regulated by the Australian Securities and Investments Commission (ASIC), a broker with an ASIC license is guaranteed to comply with local laws, maintain high standards of transparency and safeguard client funds. Moreover, ASIC has a database of all licensed brokers, where traders can find detailed information and check whether their broker is legitimate.
Top forex brokers for Australian traders Structure – Look for an ASIC-regulated broker that offers competitive pricing in the form of low spreads and affordable commission rates. Ideally, an active forex trader should be able to access raw spreads starting from 0 pips and pay no more than $7 per round lot in commission. FP Markets, Pepperstone and BlackBull Markets are great choices in this category.
Customer Support – Look for a broker with 24/7 phone and email support. This is particularly important for novice traders who may need help navigating the forex markets. A good broker will also offer a number of educational resources and market analysis to assist beginner traders in learning the ropes.
Top Forex Brokers for Australian Traders: Low Spreads, High Trust
Leverage – Look for a broker that offers flexible leverage options, such as 1:500. When deployed responsibly, leverage can be an effective tool to maximize potential profits and reduce risk exposure.
International Offering – Finally, consider looking for a broker that offers a wide range of international assets, including major currency pairs and crosses, indices, commodities and stocks listed on the Australian Stock Exchange (ASX). This can help diversify your portfolio and reduce risk.…