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Best Forex Brokers in Australia 2018: Trusted Broker Reviews


Australians are fast catching up with forex trading and the country’s regulatory body, the ASIC (the Australian Securities and Investment Commission), is making sure that all trading activities carried out by the brokers and that involves Australians are done in a legitimate way and that the interests of brokers are well protected. Therefore, irrespective of where the broker is based, in order to trade in Australia, the broker needs to have a license procured by the ASIC. Some of the best Australian forex brokers not only have this license but also meet all other standards set by the regulatory body.

Here is a list containing the best Australian forex brokers who can help you make the most out of the dynamic market conditions today:

1. XM
XM is a leading online forex broker that is based in Cyprus. In opening an account with XM you can have access to forex markets, CFDs, and commodities. Being registered with various financial bodies across the Europe, traders can certainly look forward to getting extra protection when they choose to trade with XM.


Another major advantage of trading with XM is that it offers a wide choice of trading platforms for its clients. Therefore, irrespective of the trading volumes a trader wishes to carry out, XM has a trading platform ready to meet his objectives. Furthermore, Australians can look forward to opening a trading account of their choice with XM.


Pros:
  • XM is registered with FSA in the UK and BaFin in Germany. So you can be sure that your trading interested is safeguarded at all times and under all market conditions.
  • XM provides a demo account using which traders can try out various trading strategies without running the risk of losing real money. One of the biggest beneficiaries of the demo account is novice traders as they can learn the nuances of trading before exploring their luck in the real market.
  • The customer support features of XM are available to traders 24/5 via e-mail, live chat, and telephone and facsimile. XM website also supports various languages including English, Thai, Korean, Chinese, German, French, and others.
  • Trading orders do not get rejected.


100% SuperCharged BonusLocated in Mauritius, HotForex is a fast emerging online forex broker that thrives in doing business with lots of transparency, openness, and honesty. With HotForex, you can choose between 8 different trading platforms that you can use for different kinds of devices including computer, iPad, iPhone, Android, and others.

Metatrader 4 is the chief trading platform for HotForex users and as such it is the standard platform most forex traders use these days. Some of the major trading accounts offered by HotForex are Micro, VIP, Premium, Currenex, and Islamic. While HotForex doesn’t charge any commissions, it makes it money through spreads that start from 0.2 pips for Currenex and VIP accounts and 1 pip for all other accounts.


Pros:
  • One of the biggest strengths of HotForex is its reliability. Irrespective of the trading option you wish to have, there are several deposit and withdrawal options available to you. Some of these options include but not limited to Bank Wire, WebMoney, Credit cards, Moneybookers, Ukash, and others.
  • Traders can look forward to high leverage up to 1:1000
  • Excellent customer support through phone, Skype, fax, e-mail, and live chat
  • High bonuses



3. Markets.com
Markets.com has made rapid strides in the forex market and has, today, emerged as one of the safest and convenient trading platforms available. As Markets.com is MiFID compliant and regulated by the CySEC, it is authorized to do its business anywhere in the Europe. In order to enhance the trading experience of its traders, Markets.com offers its users a choice between 3 trading account types. The minimum deposit required depends entirely on the type of trading account you choose.
The services of Markets.com are available in more than a dozen languages. Furthermore, the customer support features of Markets.com are available to traders 24/5. In fact, the forex broker provides personalized trading services to traders based in more than 35 countries. Given its quality services and reliable platforms, it is not surprising to see Markets.com winning several awards including Global Banking & Finance Review and London Investor Show Forex.

Pros:
  • Multiple trading accounts are available through Markets.com. Therefore, Markets.com will appeal to all kinds of traders, professional as well as the novice. Besides trading accounts, there are multiple trading platforms on offer through Markets.com, including mobile.
  • Being a regulated broker, Markets.com offers you maximum chances to make the most of the forex market conditions in a legitimate way. You can be sure of getting your trades protected always.
  • A wide array of trading tools is available through Markets.com that should make it possible to trade forex quickly and in a hassle-free way.
  • For traders wishing to trade through mobile devices, there are suitable trading platforms available.
  • The customer support services are highly specialized, of fine quality, and extremely dedicated.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.


See also: best forex broker for scalping

Taking the advantage of the world’s market is now easy with easy-forex. Being a well-rounded broker, it is easy to trade forex and various commodities through easy-forex. Also, give that easy-forex is regulated in many countries across the globe; you can trust the broker to provide you the kinds of services you’ll be proud of. As with most other brokers, easy-forex relies on the standard Metatrader 4 platform to allow its traders execute their trades.
The easy-forex broker will appeal to all kinds of traders because there is something for everyone in choosing it. The trading tools of easy-forex are simple and easy to exercise. Therefore, whether you’re a novice or an experienced trader, easy-forex makes it possible for you to carry out trade in the most hassle-free manner possible.

Pros:

  • Trading with easy-forex is easy and comfortable. You only need to deposit $25 to open an account and start trading. What’s more, the deposit process is a lot simpler with you having options like Wire Transfer, PayPal, and Credit Cards.
  • It doesn’t matter which market you’re trading, easy-forex has fixed spreads. What this means is that your spreads will be tight and that the trading expenses will be lowered considerably and thereby making you trade effectively.
  • The Metatrader platform that easy-forex uses are among the most reliable and well-known trading platforms available today. Having been in use for a long time, Metatrader is quite stable and offers you several trading tools which you can make use of to better your chances in the market.

Read about the Best Forex Broker Uk

5. Exness
Exness is a fast growing online forex broker that is among those rarest breeds of companies that do its business in a transparent way. Established in 2008, this forex broker may still take a long while in being fully innovative, nonetheless, it is highly rated in the trading circles because of the quality of services it provides to clients. The fact that they’ve won several prestigious awards in such a short span of time reiterates how good they’re and how seriously they go about their business.
When it comes to trading platforms alone, Exness gives its traders the choice to choose between Metatrader 5 and Metatrader 4; which are both considered as standard platforms to do forex trading. What is also remarkable is that Exness allows its users to access the trading features even when they’re on the move. In other words, the users can log on to their mobile devices and access trading features of Exness to stay ahead in the market.

Pros:

  • Exness provides its users a wide choice in trading account types. So, depending on their needs and other factors, traders can choose between different account types – Cent, Mini, ECN, and Classic. Whether you’re a novice or experienced trader, Exness cares for everybody and provides required trading features.
  • To ensure their traders do not find difficulty in making their deposits, Exness provides a lot of option including Mastercard, Visa, Wire Transfer, Skrill, Perfect Money, WebMoney, and others. Similarly, it is easy to withdraw funds from your account. Here, the options available to you are – Mastercard, CashU, Visa, RBK Money, Internal Transfer, Wire Transfer, and others.
  • The customer support services of Exness are brilliant. In fact, their website supports as many as 17 languages like English, German, Arabic, French, Hindi, Russian, Bengali, Chinese, Thai, and others.

Comments

RISK:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.