Best Australia Forex Brokers

Written by BrokerNotes.co
Fact-checked by Steven Hatzakis, Joey Shadeck
Edited by John Bringans

October 07, 2024

The first step for every forex trader should be choosing a reliable, well-regulated forex broker. The team at BrokerNotes has conducted extensive research and data collection on international forex brokers and the local regulatory environment to create this guide for Australia-based forex traders. Read more to learn which forex broker is best for your needs.

The population of Australia is 25.81 million people. The national currency of Australia is the Australian dollar (AUD), and the central bank is the Reserve Bank of Australia. The primary responsibilities of the central bank – sometimes also referred to as the Reserve Bank – are managing inflation and setting the cash rate, which affects interest rates in the country. In addition to the central bank, there are several other financial markets regulators in Australia. These include the Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority (APRA). ASIC is responsible for licensing, monitoring and operating the rules of the financial markets, as well as enforcing the law in the financial sector. APRA is responsible for regulating banks, insurers and other financial services providers to ensure that they meet minimum standards of financial soundness.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best Forex Brokers Australia for 2024