At ForexZone, We are dedicated to providing you with comprehensive and unbiased information about the leading Forex brokers in the Australian market.
Our goal is to assist you in making informed decisions when it comes to choosing the right broker for your trading needs.
About Us
The ForexZone team understand the importance of finding a reliable and trustworthy broker in the ever-evolving world of Forex trading. With the vast number of brokers available, it can be overwhelming to navigate through the options and determine which one is best suited for you. That’s where we come in.
Our team of experienced professionals meticulously researches and analyses different Forex brokers, taking into consideration factors such as regulation, trading platforms, customer support, fees, and more. We strive to provide you with accurate and up-to-date information, ensuring that you have all the necessary details to evaluate and compare brokers effectively.
Plus500 CFD Provider Review for Australian Traders
Plus500
Plus500 is one of many CFD trading provider’s popular with Australian traders.
AvaTrade Broker Review for Australian Traders
AvaTrade
AvaTrade is among the most popular trading platforms in Australia and elsewhere globally. Satisfied users highly praise it for its simplicity and helpful features and tools.
XM Broker Review for
Australian Traders
XM
Whether you are a newcomer interested in Forex trading or an experienced trader searching for a better platform in Australia, we’ve done the work for you!
BlackBull Markets Broker Review for Australia
BlackBull Market
The trading industry is growing fast as everyday people are discovering easy to use brokers and trading platforms. BlackBull Markets is one of these and is New Zealand-based.
easyMarkets Broker Review for Australian Traders
easy Markets
For newcomers especially, finding the best Forex Broker in Australia can be daunting. That’s why we’ve put together reviews of the top platforms.
Plus500 CFD Provider Review for Australian Traders
What is Plus500?
Plus500 is one of many CFD trading accounts popular with Australian traders. Contracts for difference (CFD’s) are derivative products which allow you to trade on the price movement of currencies.
You should read reviews about Plus500 trading and other trading platforms, as choosing the right one can be the difference between success and failure.
The Plus500 Group was founded in 2008 and has grown considerably since then. It is now a global business serving many countries. Now, onto the bits you want to know about – what are the features that make this a popular CFD provider for Australian traders?
The Features of Plus500 You Need to Know About
- User-friendly layout for simple trading.
- No commission fees and tight spreads
- Almost 3000 CFD trading options.
- A comprehensive suite of tools for minimising risk, such as stop-loss orders.
- Wide range of CFD coins on crypto markets.
- Currency conversion fees of up to 0.7% apply on all trades.
- $10 USD monthly inactivity fee is applied if a trader is inactive for 3 months.
- Fees apply to Guaranteed stop-loss orders.
Who is Plus500 Best for?
Many people want to know which is the best trading platform for beginners. We don’t recommend any platform for those with zero experience, as the risks of trading CFDs are high.
However, Plus500 does offer some impressive educational and training materials, including an eBook, videos, and other resources packaged under the Plus500 Academy.
There are pros and cons for expert traders, too: 2800 CFD trades may look like a lot, yet other Forex trading platforms are offering a greater range. Experts will appreciate the impressive selection of trading tools that come as part of the package.
Why is Plus500 Best for Australian Traders?
Plus500 is licensed and regulated by the Australian Securities and Investments Commission (ASIC) and is considered a safe and secure trading platform. It has also been granted an Australian Financial Services (AFS) license. These are important factors when considering if the Plus500 trading platform is for you.
Disclaimers: Plus 500 is a CFD Service. Your capital is at risk. Plus500AU Pty Ltd (ACN 153301681), licenced by: ASIC in Australia AFSL #417727. FMA in New Zealand FSP #486026, Authorised Financial Services Provider in South Africa FSP #47546. You do not own or have any rights to the underlying assets. Consider if you fall within Plus500’s Target Market Distribution. Please refer to the Disclosure documents available on the website
Should You Choose Plus500?
We hope we have inspired you to delve further into Plus500 and what it can offer.
Is it the one for you? The major attractions are no commission fees, tight spreads, a well-designed and easy-to-use interface, SSL security to protect against hackers, and regulation thanks to appropriate licenses. A less-than-comprehensive selection of CFD options may put some expert traders off, and there have been comments about limited customer service.
Plus500 is a global business with many years of experience in providing CFD trading services. It is highly recommended by satisfied users who find it the ideal platform for Australian traders.
Read more reviews and compare the different options, and we’ll finish by saying good luck in your investment endeavours.
AvaTrade Broker Review for Australian Traders
What is AvaTrade?
AvaTrade is among the most popular trading platforms in Australia and elsewhere globally. Satisfied users highly praise it for its simplicity and helpful features and tools.
AvaTrade works with respected financial institutions to offer its 200,000 members secure and safe trading. Traders can take advantage of mobile trading platforms and those designed for PC use. There is also a dedicated platform for Mac users.
Founded in 2006, AvaTrade rapidly established a foothold in a fast-growing market and has evolved into one of the most innovative Forex trading platforms. It is fully licensed in Australia as part of the AvaGroup, which also holds licenses in Ireland and Japan, Canada, Middle East and South Africa.
Let’s have a look at the features that you need to know about.
The Features of AvaTrade You Need to Know About
If you have used a Forex trading platform, you may have needed help to get to grips with it. Many have yet to look closely at the navigation element. AvaTrade, however, has put a lot of effort into ensuring that all of its tools are easy to use.
Here are some of the features that we find interesting:
- User-friendly design and operation.
- Demo account for practice trading.
- Choice of four Real Accounts of different levels.
- Multiple trading platforms available.
- Wide range of markets to choose from.
- Full suite of educational materials.
The above are all positive aspects of the AvaTrade Forex trading platform, so what are the downsides?
In truth, we couldn’t find much that we didn’t like about AvaTrade, but one criticism is that the sheer choice of trading platforms and markets may be daunting to those not comprehensively experienced in Forex trading.
Who is AvaTrade Best For?
Forex trading is not something one should enter into lightly and without knowledge. It is surprisingly easy to lose money – and a lot if you’re not careful – in these markets.
This is why we welcome AvaTrade’s Demo Account feature. This allows you to trade as in real life but with fake funds. It’s not only educational and gives you trading experience, but it’s a lot of fun. For this reason, we would happily recommend AvaTrade to persons looking to get into trading Forex Australia.
Another great feature is AvaProtect. The ultimate risk management tool. Exclusive to AvaTrade, AvaProtect allows you to get your money back on losing trades.
Whether you are a beginner or you already know your way around a trading platform, AvaTrade offers a wide range of trading tutorials that can help you start on the right foot or master your skills.
The range of educational tools will also appeal to the inexperienced trader, so where does that leave the experienced Forex traders?
Put simply, AvaTrade offers a surprisingly wide choice of trading platforms – each backed by reputable financial institutions – plus a massive selection of markets, so is appealing to even the most experienced of Australian Forex traders.
Why is AvaTrade Best for Australian Traders?
The Australian Securities and Investments Commission (ASIC) has awarded AvaTrade a license which guarantees it to be secure and operating to acceptable safety standards. It has also been granted an Australian Financial Services (AFS) license. Traders can take these licenses as a solid reason to consider AvaTrade a viable platform.
Should You Choose AvaTrade?
Is AvaTrade the Forex platform for you? Australian traders have a wealth of choice, and we strongly recommend reading reviews of other platforms for comparison.
The popularity of AvaTrade should come as no surprise. This is a well-designed and comprehensive Forex trading option that offers a range of platforms and different levels of trading accounts.
Newcomers will appreciate the Dummy Account, which we recommend you look at.
This brief review has given you an overview of the features that AvaTrade brings to the table.
XM Broker Review for Australian Traders
What is XM?
XM is a popular and effective Forex broker used by many Australians successfully. There are many other options for Forex Australia, and we strongly recommend you read a few of our reviews to make a shortlist of possible brokers.
The XM platform offers many impressive features, which we will discuss in the next section, and also offers a choice of currency – including AUD – as trading currency, something not all brokers offer. This makes life a lot easier when tracking your trades.
XM is a trading company that is part of an umbrella group licensed by top-tier industry authorities, including the ASIC, which gives added assurance when it comes to secure trading. Formed in 2009, this trading platform is well-established in the Australian market.
The Features of XM You Need to Know About
- Minimum trading deposit of $5 means you can get used to trading without significant expense.
- Deposits and withdrawals are free.
- Customer support is good with local phone rates.
- AUD can be chosen as a base trading currency.
- Forex and CFD trading available.
- Many platforms to choose from.
- Choice of 3 account types
- Deposit and withdrawal methods are limited in choice.
- Look out for inactivity fees after 3 months.
- Only 1300 trading instruments.
Who is XM Best for?
The features that XM offers are perfectly usable, efficient, and informative, but we can’t help feeling that there are better platforms for beginners or inexperienced traders. We would not recommend absolute novices to start trading in CFDs, for example, as losses can be great.
However, XM does have a low-cost entry rate of $5, and as the AUD can be used as a base currency, it will undoubtedly attract less experienced users.
More experienced Forex traders may find the limited deposit and withdrawal methods off-putting, and the relatively small – compared to alternative Forex and CFD trading platforms – the number of trading instruments is also a potential downside.
The popularity of XM is undoubted, and many top traders use the platform.
Why is XM Best for Australian Traders?
It is essential to know that XM is not licensed and regulated by the Australian Securities and Investments Commission (ASIC). The umbrella company it is a part of, however, does hold such a license. We would prefer XM itself to be licensed directly, but this is a minor problem that should not trouble many users.
Should You Choose XM?
Choosing your trading platform is something you should do with comprehensive research. We strongly recommend you read more of our reviews and those from other sources before choosing.
We will say that if you want an affordable entry level Forex Australia broker then XM certainly fits the bill. It is a long-established and popular option with both inexperienced and experienced traders.
BlackBull Broker Review for Australia
What is BlackBull Markets?
The trading industry is growing fast as everyday people are discovering easy to use brokers and trading platforms. BlackBull Markets is one of these and is New Zealand-based. We recommend that you read our other reviews of alternatives before you make your final choice.
BlackBull Markets supports all the popular trading platforms and has a choice of accounts. The entry-level account – designed for beginners – offers zero commission on trades, an appealing feature for newcomers. There is also a Demo Account option which we strongly advise you take advantage of should you be new to trading.
With a wide variety of markets and lower costs than many rivals, BlackBull Markets has gained a lot of support with experienced traders as well as novices, so let’s talk about the features you need to know about.
The Features of BlackBull Markets You Need to Know About
- User-friendly, so great for less experienced traders.
- No commission fees on the basic package; check the website for others.
- Comprehensive selection of spreads and markets.
- Risk minimisation tools.
- Choice of trading platforms.
- High deposits in comparison to rivals.
- Withdrawal fees relatively costly.
- Not licensed by the ASIC.
Who is BlackBull Markets Best for?
Some Forex Brokers offer platforms that target newcomers. Others prefer to attract experienced traders. BlackBull Markets sits in the middle with a choice of packages ranging from the basic entry-level option to a premium VIP deal that has many attractive benefits.
We believe that the entry-level package is perfectly suitable for newcomers – although for absolute novices, we cannot recommend the Demo Account strongly enough and suggest you use it for some time before risking your real money.
BlackBull Markets does offer a range of tutorials and educational material that is useful and informative making it more attractive to novice traders.
Experienced traders will appreciate the wide choice of markets and spreads but should be aware that there are higher deposit levels than with many alternatives and withdrawal fees are greater than average.
Why is BlackBull Markets Best for Australian Traders?
Should You Choose BlackBull Markets?
Overall, the BlackBull Markets broker packages cover all potential customers. The free entry-level deal is great for those who are new to the markets and the Demo Account offers an excellent way of getting to understand what trading is all about.
Is it the one for the expert? Yes and no. A fine choice and a wide variety is markets are appealing, but high deposits and expensive withdrawal costs do not.
Read our other reviews – and reviews elsewhere – before making your decision, and good luck with your trading career.
easyMarkets Broker Review for Australian Traders
What is easyMarkets?
easyMarkets is a Forex Broker aimed specifically at Australian customers. As an introduction, we will say that easyMarkets is perhaps not going to be popular with experienced traders because it is deliberately basic, for want of a better word.
However, there are advantages to the simplicity of the platform, as well as some unique and exciting features that will appeal to less experienced traders. We recommend you read this and other reviews of Forex Australia brokers before you choose your option.
We’ll talk about some of the features of easyMarkets in the next section, but before we move on, there’s one in particular that we would like to highlight – the Demo Account mode. This allows you to ‘trade’ using fake money – in other words, you can take some time and get a grip on what it’s all about.
Now, let’s look at the features of easyMarkets, including one clever and unique function.
The Features of easyMarkets You Need to Know About
easyMarkets focuses on simplicity. It also aims to minimise the potential of high-risk trades. This is why newcomers favour it in the trading game. We would not recommend a complete novice go straight to trading. Hence, we appreciate the demo mode.
Before we list a few of the main attractions of this broker we want to mention dealCancellation. This unique to easyMarkets feature allows traders to cancel a trade within 1, 3, or 6 hours, thus avoiding trading fees. We suggest you visit the website to learn more about this beneficial function. Here are some of the main attractions of easyMarkets.
- Simple to use trading platform.
- No commission fees and low fixed spreads.
- Deal Cancellation feature.
- Full range of risk management features.
- Customer service 24/7.
- Choice of payment options.
- Demo Account mode
- No Expert Advisers feature.
- Limited spreads and range of markets.
Who is easyMarkets Best for?
As we have already mentioned, it is clear that easyMarkets is aimed at traders with little experience. The dealCancellation feature and the Demo Account Mode, as well as the simple-to-use trading platforms and risk management features, all appeal to those looking to make a start in the Forex markets.
There are excellent educational tools in the package, too, which will help users learn more about trading and what to do for the best results. For the experienced trader, this is a package that may only impress if you are looking to minimise risk.
Why is easyMarkets Best for Australian Traders?
easyMarkets has the relevant license from the Australian Securities and Investments Commission (ASIC), so users are guaranteed a safe and secure platform to trade. This broker has also been granted an Australian Financial Services (AFS) license.
Should You Choose easyMarkets?
Whether or not you choose easyMarkets as your Forex Broker Australia depends entirely upon where you are in your trading career. If you want to try trading, sign up with easyMarkets and activate the Demo Account. This allows you to trade as in the real world but without losing money.
The platform has excellent educational tools, but limited spreads and a poor range of markets will not appeal to the expert trader. For the novice, easyMarkets may be the best choice as it is simple to use and is an excellent introduction to trading.