Australia’s Forex brokers are several of the world’s largest and most reputable, and their trading platforms, leverage, and services are among the most advanced in the industry.
Forex is Australia’s largest financial market. Its currency is the Australian dollar, and it is second only to the UK in the size of its Forex market. Forex brokers in Australia are highly regulated, and the market as a whole is among the most liquid and trusted in the world.
Traders in Australia have access to a vast array of Forex brokers, and they’re able to choose brokers that offer services ideally suited to their trading needs and preferences. From a breadth of account types to a variety of trading platforms, Australia’s Forex brokers offer traders around the world access to the currency market.
As forex traders, we will always come across many Forex brokers. But not all of them can deliver. To trade forex, you have to find the best forex broker for you. This means you have to take into account a number of different factors.
Best Forex Brokers In Australia From Traders Union
To trade currencies, traders must open an FX trading account with a forex broker. A forex broker facilitates currency trade by acting as an intermediary. The broker establishes a fixed spread between buyers and sellers and charges a commission for their services.
There are more than 7,000 forex brokers worldwide. To help you find the best forex broker for your needs, ForexBrokers.com has developed this handy guide to selecting the best forex brokers in Australia. Traders Union has created a list of the top best Forex broker Australia (2021).
Traders Union’s criteria for selecting forex brokers in the following list include:
- Financial regulations of broker
- Conditions and Trading cost
- Research and Educational tools of the brokers
- Trading platforms of Brokers
Top 10 Forex Brokers in Australia from Traders Union
There are 10 best forex brokers in Australia according to Traders Union.
- IC Markets
- CMC Markets
- Interactive Brokers
In order to make a well-informed decision, it is essential to read the broker’s financial regulations and terms, in addition to looking out for the best trading conditions in comparison with other brokers. The same applies when choosing a trading platform,
Australian Forex regulators are very strict about general compliance with financial regulations. They also pay attention to who their citizens are dealing with, so if you want to trade safely, it’s important to choose a regulated broker.
Factors Need To Consider While Choosing a Broker
When you are choosing a Forex broker, it is important to check whether the brokerage is registered with the financial regulatory institute. With our carefully-selected brokers, you can be ensured that you will get the best deal no matter how much you trade.
Forex trades are becoming more and more popular these days. Trading in the forex market can be risky, hence, it is important to consider a few factors while choosing a broker.
Here are some important factors that one needs to consider while choosing a Forex broker.
- Research well about the company: Research well about the company, background, and history of the company.
- Make sure that the broker is regulated. This is very important because only a broker that is regulated will provide the customer with a safe trading environment. There are many forex companies that are regulated, however, it is very important that the chosen broker is regulated.
- Platform for trading: Make sure that the broker you have chosen provides a platform with good features for trading.
- Deposit and withdrawal: Make sure that the broker you have chosen provides good options for depositing and withdrawal funds. There are many forex brokers that provide good options for both deposit and withdrawal.
- What is the minimum margin requirement? The broker should have minimal margin requirements.
- Spread: The broker should have minimum and maximum spread.
- Customer service: The broker should have good customer care and support services.
- Knowledge: The broker should have good traders and experts.
- Trading hours: The broker should provide 24 hours trading.
- Brokers should have good trading software.
- Broker should have a demo account.
- Broker should have a good trading platform.
- Broker should have good offers