The Best Australian Forex Brokers

The Forex market in Australia is one of the best-regulated markets in the world. Here, the broker companies have to follow very strict regulations and fulfill the highest criteria to register for operation.
The best Australian Forex brokers are regulated by the national organization known as ASIC (Australian Securities & Investments Commission). As opposed to European and American regulatory bodies, ASIC is a completely governmental institution.

Main Duties of ASIC

This organization implements and enforces rules and regulations relevant to broker business conduct. They protect Australian clients, investors, and traders from malpractice, scamming, misleading companies, and fraud.
ASIC makes sure that:

• The Australian Forex broker companies comply with the law and regulations regarding business conduct
• The companies submit regular reports for audit
• Investments of clients are held separate from the company’s funds
• The employees are qualified, competent, and adequately trained
• Fair business conditions are respected
• Companies stay true to what they advertise
• The market runs smoothly and safely

As the ultimate authority, ASIC built up a good name and reputation and is one of the reasons why ASIC registered Australian broker companies are so popular.

Successful Forex Brokers of Australia

Australia faces one problem that is not that common in Europe. Namely, the geographical distance sometimes causes weak Internet connection and hence weak access to the trading platforms. Top Australian Forex brokers, therefore, introduced a fiber connection that is directly connected to the main operational centers in New York and London. This is very important because traders could miss out on placing important trades if the software cannot run smoothly.
The best Australian Forex brokers are pretty much alike to other top broker companies form Europe. Mass-used trading platforms, bonuses, low or no commissions, narrow spreads, efficient customer support are the elements that appeal to traders.

Trading Platforms on Offer by the Best Forex Brokers in Australia

Everything starts with the trading platform given that this tool is the connection between the market and the trader. A trader needs to feel comfortable with his platform to have optimal conditions for his trading activity.

A platform usually consists of the currency pairs available, the market and trader history, a graphic chart displaying trend movements, Stop Loss and Take Profit options, and numerous parameters, etc. some platforms offer a Newsfeed section as well.
Australian Forex brokers know that only a platform featuring all these options is good enough for their clients. There can be more or just one trading platform.
Some trading platforms need to be downloaded and installed, while others are online browser platforms. Still, mobile trading seems to be the most popular way of trading. All top Australian Forex brokers will make sure that their platforms are also available as mobile apps. The mobile apps can be downloaded for free to your Android devices, iPhones, iPads, and sometimes even Blackberries.

Traders’ Accounts

To start out in the Forex market, traders are provided with a free Demo account. The Demo account is reserved for the very beginners to get introduced to the market. The Demo account’s primary function is to enable traders to familiarize themselves with the trading platform (to learn to use all of the features) in a simulated market setting. Nevertheless, beginners should be aware that the Demo account does not reflect real market conditions after all.
Other account types are standard and VIP accounts. They are equipped with all appropriate trading features and tools, whereas the VIP account has some extra settings and advantages.

Best Australian Forex Brokers: Commissions and Spreads

Most of the Australian broker companies do not charge any fees whether you deposit or withdraw money. They just charge the spread (the difference in value between two currency pairs). Some brokers just charge a withdrawal commission, others both, deposit and withdrawal fee.
The majority of clients prefer narrow spreads where the risk of loss is at the minimum. The spreads are the narrowest with major currency pairs (e.g. EUR/USD).
Narrow spreads are also the most suitable for beginners to trade with. Exotic currency pairs are for adventurers who can afford it.
Top Australian Forex brokers have a variety of currency pairs at their disposal. Some of them offer more than 100 currency pairs. The leverage policy is also standard averaging from 1:200 to 1:1000.

Deposits and Withdrawal

The top Australian Forex brokers will not let their clients wait for too long before they can enjoy their profit. The best Australian Forex brokers process your withdrawal request within one day or at least in 24 hours.
The withdrawal policy Forex companies employ is also an indicator of their trustworthiness. This is the most important aspect to clients – to cash in their profit without any further obstacles. Do not forget to include the waiting time referring to the process of transfer (that depends on your payment method and not the broker).
Regarding payment methods, you will probably be represented with a variety of choice with the best Australian Forex brokers. The most popular payment methods are:

• Credit Cards (Visa, Master Card, etc.)
• Neteller
• Skrill
• PayPal
• WebMoney
• CashU
• Wire Transfer

Customer Support Service

Top Australian Forex brokers maintain an efficient and around the clock available customer service. The staff will patiently help you with any kind of issue you may have.
Clients appreciate a fast-answering customer service. It is not enough anymore to go by the 24-hour e-mail response policy. Nowadays, the support has to be available almost at every moment.
Besides e-mail and phone, many Forex brokers include a live chat where the staff has to reply quickly. The latest invention is the live video chat which establishes a closer connection between the staff and the clients.
Top Forex brokers understand that the market can become complex, and that trend movement and market changes can be confusing for beginners, so they provide educational materials and resources for this target group to gain basic and specific information.
Some top Forex brokers offer free webinars as well.

Conclusion: Trading With Top Australian Forex Brokers

As this article suggests, Australia offers really good conditions regarding the Forex business. Australia offers more security than some other countries, even though one ought to be careful in Australia, too.
The most important thing if registering with an Australian broker, is to find one licensed by ASIC. Afterwards, check the history of the company and contact ASIC to make sure that the company is clear of any illegal activities and allegations. After finding several brokers who fit this description, you can choose the one you prefer the most (e.g. the one with your favorite platform, decent range of currency pairs, adequate payment methods and policy, fee-free services, etc.).

Recommended Forex Brokers

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9.5	FBS	100% Bonus	IFSC	Open Account	Read Review
9.3	Hotforex	100% Bonus	CySEC	Open Account	Read Review
9.3	Plus500	$50	FCA, ASIC, CySEC	Open Account	Read Review
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*Trading bonus are not eligible for clients registered under Trading Point of Financial Instrument Ltd and Trading Point of Financial Instrument UK Ltd. T&C apply.