Best Forex Broker in Australia – Full Reviews

Best Online Trading Platform Australia – Here the Best Online Brokers

 

If you’re searching for the top online brokers in Australia, then welcome to our guide.

In our guide we want to show you the best online trading platforms for Australians so you can start trading.

$ 100 Deposit
  • Minimum Deposit:$100
  • Ratings:5 star
  • Demo Account:
  • *:*76.4% of Retail CFD accounts loss money.
$ 200 Deposit
  • Minimum Deposit:$200
  • Ratings:5 star
  • Demo Account:
  • *:*62% of Retail CFD accounts loss money.
$ 10 Deposit
  • Minimum Deposit:$10
  • Ratings:5 star
  • Demo Account:
  • *:*Capital at risk
$ 200 Deposit
  • Minimum Deposit:$100
  • Ratings:5 star
  • Demo Account:
  • *:*Capital at risk
Comparison Table Includes
  • Minimum Deposit:
  • Ratings:
  • Demo Account:
  • *:
  • Minimum Deposit:$100
  • Ratings:5 star
  • Demo Account:
  • *:*76.4% of Retail CFD accounts loss money.
  • Minimum Deposit:$200
  • Ratings:5 star
  • Demo Account:
  • *:*62% of Retail CFD accounts loss money.
  • Minimum Deposit:$10
  • Ratings:5 star
  • Demo Account:
  • *:*Capital at risk
  • Minimum Deposit:$100
  • Ratings:5 star
  • Demo Account:
  • *:*Capital at risk

PLUS500

$ 100 Deposit

ETORO

$ 200 Deposit

OPTIONBD

$ 10 Deposit

SWISS

$ 200 Deposit

Many Australians are already trading in the Forex and CFDs markets, and the country’s laws make sure that there are fair trading regulations in place. This is why many leading online brokers in Australia remain a popular choice for traders worldwide!

$ 100 Deposit
  • Trust Score:97/100
  • Licensed in Europe (Cysec):
  • Licensed in UK:
  • Forex Assets:2000+
  • Crypto Assets:
  • Demo Account:£40.000
  • Minimum Deposit:$100
  • Minimum Trade:*depends on the asset
  • Platform MT4:
  • Max Leverage:1:30
  • Trading Commissions:
  • Spread:3 pips*
  • Withdrawal Time:3 - 5 days
  • *:*76.4% of Retail CFD accounts loss money.
$ 200 Deposit
  • Trust Score:98/100
  • Licensed in Europe (Cysec):
  • Licensed in UK:
  • Forex Assets:2000+
  • Crypto Assets:
  • Demo Account:£ 100.000
  • Minimum Deposit:$200
  • Minimum Trade:£1
  • Platform MT4:
  • Max Leverage:1-400
  • Trading Commissions:
  • Spread:3 pips*
  • Withdrawal Time:3 - 5 days
  • *:*62% of Retail CFD accounts loss money.
$ 200 Deposit
  • Trust Score:92/100
  • Licensed in Europe(Cysec):
  • Licensed in UK:
  • Forex Assets:2500+
  • Crypto Assets:
  • Demo Account:£ 10.000
  • Minimum Deposit:$200
  • Minimum Trade:£1 - 0.01 lots
  • Platform MT4:
  • Max Leverage:1-400
  • Trading Commissions:
  • Spread:4 pips*
  • Withdrawal Time:1 - 2 days
  • *:*Capital at risk
$ 200 Deposit
  • Trust Score:95/100
  • Licensed in Europe(Cysec):
  • Licensed in UK:
  • Forex Assets:1000+
  • Crypto Assets:
  • Demo Account:£ 10.000
  • Minimum Deposit:$200
  • Minimum Trade:£1 - 0.01 lots
  • Platform MT4:
  • Max Leverage:1-500
  • Trading Commissions:
  • Spread:1.2 pips*
  • Withdrawal Time:2 - 5 days
Comparison Table Includes
  • Trust Score:
  • Licensed in Europe (Cysec):Licensed in Europe (Cysec):
  • Licensed in UK:
  • Forex Assets:
  • Crypto Assets:
  • Demo Account:
  • Minimum Deposit:
  • Minimum Trade:
  • Platform MT4:
  • Max Leverage:
  • Trading Commissions:
  • Spread:
  • Withdrawal Time:
  • *:
  • Trust Score:97/100
  • Licensed in Europe (Cysec):
  • Licensed in UK:
  • Forex Assets:2000+
  • Crypto Assets:
  • Demo Account:£40.000
  • Minimum Deposit:$100
  • Minimum Trade:*depends on the asset
  • Platform MT4:
  • Max Leverage:1:30
  • Trading Commissions:
  • Spread:3 pips*
  • Withdrawal Time:3 - 5 days
  • *:*76.4% of Retail CFD accounts loss money.
  • Trust Score:98/100
  • Licensed in Europe (Cysec):
  • Licensed in UK:
  • Forex Assets:2000+
  • Crypto Assets:
  • Demo Account:£ 100.000
  • Minimum Deposit:$200
  • Minimum Trade:£1
  • Platform MT4:
  • Max Leverage:1-400
  • Trading Commissions:
  • Spread:3 pips*
  • Withdrawal Time:3 - 5 days
  • *:*62% of Retail CFD accounts loss money.
  • Trust Score:92/100
  • Licensed in Europe(Cysec):
  • Licensed in UK:
  • Forex Assets:2500+
  • Crypto Assets:
  • Demo Account:£ 10.000
  • Minimum Deposit:$200
  • Minimum Trade:£1 - 0.01 lots
  • Platform MT4:
  • Max Leverage:1-400
  • Trading Commissions:
  • Spread:4 pips*
  • Withdrawal Time:1 - 2 days
  • *:*Capital at risk
  • Trust Score:95/100
  • Licensed in Europe(Cysec):
  • Licensed in UK:
  • Forex Assets:1000+
  • Crypto Assets:
  • Demo Account:£ 10.000
  • Minimum Deposit:$200
  • Minimum Trade:£1 - 0.01 lots
  • Platform MT4:
  • Max Leverage:1-500
  • Trading Commissions:
  • Spread:1.2 pips*
  • Withdrawal Time:2 - 5 days

PLUS500

$ 100 Deposit

ETOROIQ

$ 200 Deposit

Vantage Fx

$ 200 Deposit

BDSwiss

$ 200 Deposit

When we decide our top list of the best online trading platforms, we look at the following criteria:

  • industry based awards
  • regulation and operating licences
  • what each broker can offer to their users

The industry based awards is an area we look at because we believe it’s important to see what some of the leading experts in the industry think of the platforms. For instance if they have awarded a broker, this helps to show the broker is a worthy candidate.

We also check out each broker’s regulation credentials and see where their operation licences are registered. This is to ensure your trading security and that the brokers are fully compliant. Your security is important to us, which is why we only ever list fully regulated platforms that are fully licenced.

It’s worth mentioning that not all the trading platforms that we’ve selected are headquartered in Australia. However, each one of them has a presence in Australia, and they’re all licenced to run in the country.

Let’s take a look now at the best online trading platforms in Australia.

Best Online Trading platform: Vantage FX

vantage fx

  • Regulations: ASIC (Australian Securities & Investment Commission)
  • Platforms: MT4 & MT5
  • Leverage: Up to 1:500
  • Minimum Deposit: $200
  • Can you deposit in Australian Dollars? Yes
  • Headquarters: Sydney, Australia
  • Support: Yes, available 24/5
  • Instruments Available: Over 120 CFDs assets including Indices, Forex, Commodities and Shares

Click the button below to open a free Vantage FX account.

Open a Free Trading Account

*Your capital might be at risk

 

Vantage FX is one of the leading trading platforms in Australia. It’s become well known for being a secure broker as well as its wide range of CFDs available for trading. This includes Forex, Indices, Cryptocurrencies, Shares and Commodities.

The company was founded in 2009 in Australia by a team who specialized in the areas of finance and tech. Combined they managed to create a great trading platform to help anyone have access to the markets.

The company headquarters are based in Sydney and the broker is fully regulated by ASIC.

The Vantage FX platform has also been awarded many awards from respected institutions, which shows how respected the broker is in the industry.

For example, it has been awarded for offering the best support and for being the Financial Trading Services Supplier of the year. To see the full award list by year, head to the broker’s website for the listings.

Another reason why Vantage FX is in the running for best broker Australia is that they offer excellent educational features. They are aimed at beginners who are completely new to forex & CFD trading.

For instance, they have a full guide on how to learn forex plus SmartTrader videos. If you haven’t used the MT4 or MT5 platforms before there are also detailed manuals on how to use each of them.

The broker is also well known for is their very fast platform speed, this allows you to execute trades at super-fast rate. Vantage FX regularly improves their network of data centres and servers, which ensures that their uses have access to incredibly quick and stable trading conditions.

Another thing that Vantage FX is great for is their customer support in Australia, the award-winning customer support is available 24/5 to users. So if you should have any questions you can reach the customer support team via phone, LiveChat or email anytime.

If you wish to practice trading before making any actual trades, it’s worth taking a look at the Vantage FX demo account.

It’s possible to sign up for a free demo account in a few minutes, you just need to supply some personal details such as your name and email address.

Once this is all processed you’ll be able to access the demo account where you can get used to the platform design and try trading with the virtual money that comes with the account. We’d always recommend doing this before trading with real funds so you can make sure that the broker is the right one for you.

One of the Best online trading platform: Plus500

plus500

  • Regulations: ASIC in Australia & CySEC in Europe
  • Platforms: Plus500 has their own self developed platform
  • Leverage: Up to 1:300
  • Minimum Deposit: $100
  • Can you deposit in Australian Dollars? Yes, AUD is one of the base currencies
  • Headquarters: Israel and Sydney, Australia
  • Support: Yes, available 24/7
  • Instruments Available: Forex, Cryptocurrencies, Stocks, ETFs, Indices, Options and Shares including the cannabis industry.

 

Click here to open your first Plus500 trading profile.

 
*‘76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.’

Another leading broker that we want to mention for Australia is Plus500, mainly because we’ve been impressed how user-friendly and simple their platform is to use. Besides this Plus500 is one of the most major brokers involved in the CFD trading world.

When the broker launched in 2008, their main goal was to keep trading simple for their users, this is why they only offer one type of trading account which is easy to use.

Simplicity is the key for Plus500 which is great for all users, whether you’re new to trading or not.

The online trading platform is web based and there is also a free trading App available for iOS and Android devices. This is handy if you’re looking to trade on the go straight from your smartphone. The mobile App offers the same format as the online version, plus it’s also possible to receive real time price notifications.

Another strength of Plus500 is that they don’t charge any commissions on deposits or for opening/closing trades. Instead their ‘compensation’ is built into the spreads, which are fairly dynamic.

Regarding trading, currently it’s possible to trade over 250+ CFD instruments with them including Forex, Cryptocurrencies, Indices, Shares, Commodities, Options and ETFs.

One interesting thing about their share options is that they have a lot of country specific shares available for traders, for example major Australian companies listed including OZ Minerals and Qantas Airlines. This is a great option if you’re looking for Australian corporations that you know of besides the international shares.

Plus500 was also one of the first trading platforms to introduce CFD Cannabis shares as an option for its users.

Medicinal cannabis has been a big topic in the financial markets recently, so to refresh its offering the broker has 7 of the most important firms listed as share options, including firms like Tilray and Canopy Growth.

The companies headquarters are based in Israel. However, for Australia, the broker is a subsidiary of Plus500AU Pty Ltd which is an Australian based firm- with the main offices based in Sydney.

The company is fully regulated and secure to trade with, and they hold an operational licence from ASIC.

Best online trading platform: eToro

 

etoro

  • Regulations: ASIC in Australia & CySEC in Europe
  • Platforms: eToro has their own self developed platform
  • Minimum Deposit: $50
  • Can you deposit in Australian Dollars? No- all trading accounts are in $ USD
  • Headquarters: Tel Aviv, Israel and London, United Kingdom plus Cyprus
  • Support: Yes, available 24/5
  • Instruments Available: Forex, Cryptocurrencies, Stocks, ETFs, Indices & Commodities

Click here to open your first eToro trading profile.

Open a Free eToro Account

*62% of retail investor accounts lose money when trading CFDs

eToro is the leading online broker to offer social features to their users in Australia.

Thanks to these innovative social features and regulation, eToro has gained a reputation worldwide as being a respected and safe broker for their customers.

Its platform is famous for providing you the chance to learn and discuss trading methods from its members via the social news feeds. Most important though is eToro’s CopyTrader feature which lets you follow and copy the trades of other successful users in Australia and all over the world.

This a great tool if you are new to trading and wish to learn from others, the fact that there are millions of traders on the eToro site from many countries also means you have a big pool to choose from.

To use the CopyTrader feature you can simply search with the search tool and filter the results to find the ideal trader for you to copy, or you can view the ‘editors choice‘ of recommended traders. You will see each trader’s profile info which includes their profit history and risk score.

To start the copy process, just click on the Copy Trader button. This unique feature makes eToro stand out from other competitors.

We also want to mention that eToro also has great educational features. Whether you’re an experienced trader or a newbie doesn’t matter, they have education tools available for all levels.

The selection includes live webinars, blogs, video tutorials and even a podcast. They also regularly have guest speakers delivering their webinars to share their insight knowledge.

There is also a free demo account option with virtual funds available should you want to test the eToro platform before depositing real money. It’s possible to switch at anytime between the demo and your real trading account.

The demo account looks exactly the same as the normal version, so it’s a good way for you to get used to the platform layout and the various social tools of eToro.

The broker was founded back in 2006 and it has grown to become the biggest social trading platform worldwide! Currently over 5 million people are on the network and eToro has operation offices based in Cyprus, Tel Aviv and London.

Although there may be no head office in Australia, all services are provided by eToro Australia which is the holder of an Australian Financial Services Licence (no.491139) and is regulated by ASIC. This means that the broker is fully regulated and authorized to operate in Australia.

If you’re looking for a lower minimum deposit amount, then eToro currently offers Australians one of the lowest in the market of just $50. This is a great figure if you have a limited trading budget and wish to start with a smaller trading amount.

 Best Trading Platform: Pepperstone

pepperstone

 

  • Regulations: ASIC (no. 414530)
  • Platforms:Mobile, Web, MT4, MT5, cTrader
  • Leverage:1:500 
  • Minimum Deposit:$200
  • Can you deposit in Australian Dollars?Yes, AUD is one of the base currencies
  • Headquarters: Melbourne, Australia
  • Support: Yes, available 24/5
  • Instruments Available: 150+ (CFDs, Forex, ETFs, Indexes, Cryptocurrencies, Stocks & Commodities)

 Open a Free Pepperstone Account

*Your capital might be at risk

Pepperstone is an Australian forex and CFD broker that was founded back in 2010. In fact, the two founders behind the broker won the Australian EY Entrepreneurs of  the Year 2014 Award for the platform. Mainly thanks to the platform’s combination of trading technology and automation.

Today the broker has grown to have clients not only in Australia, but internationally too. The Pepperstone headquarters are based in Melbourne, and the broker is fully regulated by ASIC.

For trading, Pepperstone offers the cTrader, MT5 and MT4 as platform options. All of which are available in desktop, online WebTrader use and trading app formats. In fact, the Pepperstone app is available for all Apple and Android devices and offers the same features as the other formats.

It’s also possible to make withdrawals and deposits, as well as set up live trading alerts from the app. So perfect if you want to stay on track of your trading opportunities whilst on the move.

We also like that social trading and forex signals software is offered in addition to the platforms, in this case Myfxbook, DupliTrade and MetaTrader Signals.

Besides the platform range, Pepperstone has 2 very popular trading accounts to choose from. If you’re new to trading the broker’s Standard Account is ideal as it’s commission free and spreads for the Major pairs start from 1.0 pips.

The other trading account is the Raw Account. This has been designed for professional traders, so the account offers very tight spreads starting from 0.0 pips, but there is a small commission charged.

However, the minimum deposit amount for both the Razor and Standard accounts is AUD $200. Both accounts also allow for Hedging, Scalping and the use of Expert Advisors.

The deposit can be paid by bank transfer, electronic wallets or with debit/credit cards. There are no other account costs or inactivity fees charged. Pepperstone doesn’t charge for withdrawals, and the minimum withdrawal amount is $10. Some electronic wallets may apply a small admin charge though.

Pepperstone also has a popular refer a friend scheme, where you can earn $100 AUD by inviting your friends to join the platform.

To earn the money, your contact person needs to fund their account with $1000, and trade 5 standard forex lots. If those requirements are met, you’ll get $100 deposited into your personal trading account.

Best Online Trading Platform: XM

xm australia

  • Regulations: ASIC (no. 443670)
  • Platforms: Mobile, XM WebTrader, MT4, MT5
  • Leverage:1:500 “is the maximum leverage for clients registered under
    Trading Point of Financial Instruments Pty Ltd”
  • Minimum Deposit:$5
  • Can you deposit in Australian Dollars?Yes, AUD is one of the base currencies
  • Headquarters: Sydney, Australia
  • Support: Yes, available 24/5
  • Instruments Available:1000+ (CFDs, Forex, ETFs, Indexes, Stocks & Commodities)

 Open a free XM Account

*Your capital might be at risk
 

 

XM may not originally be an Australian forex broker, but since their launch in 2009, they have grown to have many international clients, including a large Australian customer base.

Although their main headquarters may be in Cyprus, XM has a registered office in George Street, Sydney. They are also fully regulated by ASIC and hold an active licence (no. 443670).

The broker is known for offering an incredibly large range of financial assets, including 55+ currency pairs, commodities and indices. We also like there range of stocks, which features key Australian companies like the National Australia Bank and AGL Energy.

It’s also likely that you’ve heard of XM because they offer an incredibly low minimum deposit of $5 AUD. This is the minimum amount that you’ll need to deposit into your account in order to start trading, and it can be paid with a variety of payment methods. There also zero fees for deposits and withdrawals.

Credit cards, bank transfers, local banking methods and electronic wallets are all accepted for withdrawals and deposits.

The $5 AUD minimum deposit only applies to the broker’s very popular Micro and Standard trading accounts. Both accounts offer commission free trading with spreads on the major pairs starting from 1 pip.

The main difference between the Micro and the Standard is the contract lot size for the accounts. For instance the Micro Account contract lot size is: 1 Lot = 1000, and for the Standard Account: 1 Lot = 100,000.

Whichever trading account you choose, all can be used on the XM WebTrader, or with the MT5 and MT4 platforms. A useful mobile trading app is also available from the broker.

Should you open an account with XM in Australia, the broker will reward you with a $30 AUD bonus. The money will then be automatically transferred to your account. There’s no need to even make  deposit, you just need to complete the sign up steps and open an account.

Other promotions available include the XM loyalty scheme where XM Points are calculated each time you trade.

These points can be redeemed as a credit bonus for you to use when trading.

There’s also a two-tier deposit bonus promotion, offering 20% up to a max combined bonus total of $5000, and 50% up to a $500 deposit.

If you’d rather test the broker first, an unlimited XM demo account is available with $100,000 of virtual funds for you to practice with.

Best trading online platform: BDSwiss

bdswiss

  • Regulations: CySEC and the FSC (no.C116016172)
  • Platforms: MT4, MT5 & a self-developed platform
  • Leverage: Up to 1:500
  • Minimum Deposit: $200
  • Can you deposit in Australian Dollars? No
  • Headquarters: Switzerland and Cyprus
  • Support: Yes, available 24/5
  • Instruments Available: 250+ assets- Cryptocurrencies, Forex, Indices, Shares, Commodities & Equities

Click here to open your first BDSwiss trading profile.

Open a Free BDSwiss Account

*Your capital might be at risk

 

BDSwiss is a broker that has become one of the best forex brokers for beginners (here you can read about it) in Europe and Australia too.

It was established in 2012 in Switzerland, and since then it has grown to provide trading services to nearly 1 million clients globally. BDSwiss keep their headquarters in Europe, but they have an operational group worldwide – including Australia.

Although the broker does not have offices in Australia, they are fully regulated by CySEC which is the leading European regulator for brokers and is very respected. They also hold a licence from the FSC (Financial Services Commission) in Mauritius.

You can be assured that BDSwiss is fully regulated and not fraudulent or a scam.

The broker has become known for their cutting edge platforms and their free educational services. They have also won various awards from respected bodies including the 2019 award for ‘Best Trading Conditions’ from World Finance.

Another award was won in 2019 for the ‘Best Trading App’ from Mobile Star Awards, quite impressive.

One thing that the broker is great at offering is their free trading education tools and webinars. There are great resources available because the platform aims to educate its clients about trading the world of CFDs.

There are many live webinars plus exclusive video lessons so you can develop your trading skills directly on the platform. It doesn’t matter which trader level you are because BDSwiss has education tools suitable for all levels.

This is a good broker option if you’re looking to educate yourself and develop your CFD market strategies.

Regarding the platforms, BDSwiss supports both the MT4 & MT5 trading platforms which are available for download. It depends on which version suits your needs the best, but MT4 remains one of the most popular trading programmes in the industry as it offers users access to a full range of trading tools and technical indicators.

Besides the MT4 & MT5, another platform option is the broker’s self developed BDSwiss WebTrader which is available both for desktop and online. It’s also available to download and use as a mobile App for use on Android and iOS devices.

Currently BDSwiss has 3 different trading profiles available: Basic, Raw Spread and Black. However, for this review we have looked at the Basic account features which gives you access to the education tools and is the standard account type.

If you need help at anytime, there is 24 hour support available Monday to Friday, and you can get in touch via LiveChat, WhatsApp, Telegram or email. There is also telephone support available in many languages.

Here you can learn more about the best platform for beginners.

Best Online Brokers Australia: Swissquote

swissquote

  • Regulations: FCA (no. 280372)
  • Platforms: 7 available including MT4, MT5, & broker’s own-developed platform
  • Leverage:1:400
  • Minimum Deposit: $1,000 for the Standard Account
  • Can you deposit in Australian Dollars?No, the base currencies are CHF, EUR & USD
  • Headquarters: Gland, Switzerland
  • Support: Yes, 24/5
  • Instruments Available: 130+ (Forex, Cryptocurrencies, Commodities, Stocks, Futures)

Try Forex Trading

*Your capital might be at risk

 

Swissquote is owned by the Swissquote Group, which is a Swiss holding company with a banking background. The Swissquote headquarters are in Zurich, Switzerland. They also have offices in Bern, Dubai, Malta, London and Singapore.

Although they don’t have a registered office in Australia, they offer their platform to Australian residents who want to trade forex and CFDs online.

Regulation wise, they hold an active licence from the UK’s Financial Conduct Authority. Swissquote is also highly rated for safety, thanks to the broker being publicly listed on the Swiss Exchange, and their origins being in Swiss banking.

What you’ll get with this broker is access to many international markets, and a selection of trading platforms.  However, their minimum deposit fee is a bit higher than others in the market, but they don’t charge any inactivity fee, and withdrawals and deposits are also free to market.

It is a favoured broker for many professional traders, or serious beginners, thanks to the range of platforms. and the premium analytical tools that are available.

There are 7 trading platforms for you to pick from, including the MT5, MT4, and the broker’s own self-developed platform.

Too many choices can make it tricky to decide which one is best for you, but for forex trading we were impressed with Swissquote’s Advanced Trader. The Advanced Trader platform comes with a customizable interface and automatic pattern detection.

Pattern detection is a great tool to use if you’re new to analysing chart patterns, and it can help you spot new order opportunities.

The Advanced Trader also comes with built-in indicator features and  real-time news updates. The platform is suitable for desktop, online and mobile use, and the trading app can be downloaded to all Android and iOS devices.

Besides the range of platforms, Swissquote also offers a selection of trading accounts. We have focused for this article on their Standard account as it has the lowest minimum deposit amount starting from $1,000 (USD). The Standard account is commission free and has spreads starting from 1.7 pips.

Swissquote’s other trading accounts include the Premium, Prime and Professional accounts. The Premium is very popular with serious traders as it offers lower spreads than the Standard account, with spreads starting from 1.4 pips, and zero commissions.

However, the minimum deposit is higher with the required price of $10,000. Whereas the Prime account has a minimum deposit of $50,000 and spreads from 1.1 pips. The Professional account is designed for high volume traders where the minimum deposit is volume based and spreads are customised.

Besides these accounts, the broker has a free demo account available, and a very impressive free educational resource area. Here you can find webinars, video courses and e-books that cover everything you need to know and more about online trading.

Best Online Brokers Australia: Saxo Capital Markets

saxo bank

  • Regulations: ASIC (no. 280372)
  • Platforms:  2 Self-developed Platforms for Mobile, Web
  • Leverage:
  • Minimum Deposit:$3,000 for the Classic Account
  • Can you deposit in Australian Dollars?Yes, AUD is one of the base currencies
  • Headquarters: Sydney, Australia
  • Support: Yes, available 24/5
  • Instruments Available:40,000+ (Forex, CFDs, Stocks, ETFs, Commodities, Futures)

Try Forex Trading

*Your capital might be at risk

 

In Australia, Saxo Capital Markets is part of the Danish banking Saxo Group, that was established back in 1992. They are known for offering global investments online and have an Australian office located in Sydney.

Saxo Capital Markets is also fully regulated and holds an active ASIC licence. The broker is known for having a wide range of 40,000+ tradable instruments, including more than 180 currency pairs, and for their award-winning platforms.

They also have excellent research tools and highly-rated customer service. The only major difference between them and other forex brokers is that their minimum deposit is fairly high.

In fact, to start trading with their Classic Account the minimum deposit required is AUD $3,000. So you need to consider whether their features are worth the extra cost. However, the broker does not charge for withdrawals or apply extra deposit fees.

In terms of trading accounts, they have 3 tiers available, that are suited to both very experienced and new traders. Many people new to trading go with the Classic Account which has the minimum deposit of $3,000. The Saxo Classic account comes with tight spreads and 24/5 account support.

The other 2 accounts, the Platinum and VIP accounts are designed for professional and high-volume traders. Here the Platinum account requires an investment of $50,000, and the VIP $1,000,000. They higher tiers come with tighter spreads, exclusive event invitations, personal relationship manager and priority support.

Saxo Capital Markets has also self-developed their two trading platforms which are very robust & user-friendly. They’re called the SaxoTraderPRO and the SaxoTraderGO.

SaxoTraderGO is suitable for traders of all levels, including beginners, and is designed for use on mobile devices and online as a WebTrader format.

SaxoTraderPRO is designed only for desktop use which will need a software download. It’s great for experienced traders that need advanced trading tools and customisable features.

However, both platforms come with complete access to all the same assets, fundamental analysis and charting tools. You just need to consider which platform suits your trading style, and which format you’d prefer to use.

Should you want to test the platforms for free, there’s a demo account version available that comes with $100,000 of virtual funds.

Research and Education is an area that Saxo Capital Markets excels in. We’d recommend checking out their platform video guides and their ‘become a better trader’ section. There’s also a weekly Saxo Capital Market podcast and planned webinar events.

Marco Sbalchiero

Author of this article and founder of Tradingonlineguide.com

My aim is to help you increase your trading knowledge with helpful content. I come from an economic background and have a strong passion for forex trading. With more than 6 years in the online trading world, I want to share my financial knowledge so that anyone can develop their investment skills.

In my spare time I enjoy cooking and travelling.

Here you can learn more about our review methodology.