Table of Contents
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Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Top ASIC Regulated Forex Brokers in Australia

By Huzefa Hamid
Reviewer Adam Lemon
Fact-checker DailyForex.com Team

I’m a trader and manage my own capital. I trade the major Forex pairs, some Futures contracts, and I rely entirely on Technical Analysis to place my trades. Today, I am also a Senior Analyst for DailyForex.com. I began trading the markets in the early 1990s, at the age of sixteen. I had a few hundred British pounds saved up (I grew up in England), with which I was able to open a small account with some help from my Dad. I started my trading journey by buying UK equities that I had read about in the business sections of newspapers. The 1990s were a bull market, so naturally, I made money. I was fortunate enough in my early twenties to have a friend that recommended a Technical Analysis course run by a British trader who emphasized raw chart analysis without indicators. Having this first-principles approach to charts influences how I trade to this day.

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

The DailyForex.com team is comprised of analysts and researchers from around the world who watch the market throughout the day to provide you with unique perspectives and helpful analysis that can help improve your Forex trading.

The Australian Securities & Investments Commission (ASIC) is a well-known and trusted regulator.
It is known for its consumer-friendly engagement, education, and policing of the Australian financial system. Following an in-depth review of ASIC Forex brokers and a list of the most competitive ones with a trustworthy reputation, you may view my broker shortlist.

1
4.8/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
ECN-style trading
Daily market research and Autochartist access
2
4.8/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
A well-balanced asset selection, including options, ETFs, and crypto.
Reasonable commission-free Forex costs from 0.9 pips or $9.00 per lot.
3
4.7/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
ASIC-regulated subsidiary & AUD transactions.
Quality education and research via Eightcap Labs and Trade Zone.
74-89 % of CFD traders lose
4
4.6/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Best ECN execution on the MT4/5, TradingView and Pepperstone Platform
Excellent implementation of cTrader, MT5, TradingView, and the Proprietary Platform.
Your investment value may change. Capital is at risk.
5
4.5/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
ASIC-regulated subsidiary & 24/5 human customer support.
eToro Academy, eToro Plus, and Digest & Invest for beginner traders.

Best ASIC Brokers Comparison

Regulators
ASIC, CMA, CySEC, FSCAASIC, BVI, Central Bank of Ireland, FFAJ, FSCA, KNF, MiFIDASIC, CySEC, FCA, SCBASIC, BaFin, CMA, CySEC, DFSA, FCA, SCBASIC, CySEC, FCA, FSA
Year Established
20052006200920102007
Execution Type(s)
ECN/STPMarket MakerECN/STP, Market MakerNo Dealing Desk, NDDMarket Maker
Minimum Deposit
$100
$100
$100
500 GBP
$50 - $10,000
Average Trading Cost EUR/USD
1.2 pips0.9 pips1.0 pips1.1 pips1.0 pips
Average Trading Cost GBP/USD
1.4 pips1.5 pips1.2 pips1.4 pips2.2 pips
Average Trading Cost Gold
$0.16$0.29 $0.12 $0.15$0.45
Trading Platform(s)
MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-basedOther, MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based+MetaTrader 4, MetaTrader 5, Trading ViewOther, MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Trading View+Proprietary platform
Islamic Account
Negative Balance Protection
N/A

FP Markets

In Summary ECN trading with leverage up to 1:500

FP Markets is among the cheapest ASIC Forex brokers in terms of trading fees charged, offering traders raw spreads from 0 pips for a commission of $6.00 per 1 standard lot. Deep liquidity, fast order execution, no requotes, and a no dealing desk (NDD) execution model make it ideal for high-frequency traders and scalpers. FP Markets upgrades the out of the box MT4/MT5 trading platforms offered with twelve plugins. It also offers a proprietary mobile trading app and an in-house copy trading service, complementing the embedded MT4/MT5 solutions and Myfxbook Autotrade.

The minimum deposit is $100, ensuring relative accessibility, but the maximum leverage of 1:500 is only available through its St. Vincent and the Grenadines subsidiary, while the ASIC-regulated brokerage restricts it to 1:30.

Read more on FP Markets »
4.8/5 in this category

Pros & Cons

  • Choice of trading platforms and auxiliary trading tools
  • Very competitive cost structure and excellent asset selection
  • Low minimum deposit requirement and leverage of up to 1:500
  • Well-regulated and trustworthy
  • Availability of Iress geographically restricted

AvaTrade

In Summary Highly regulated, choice of fixed or floating spreads

AvaTrade is one of the ASIC Forex brokers with the widest choice of trading platforms. Besides offering both the well-known MT4 and MT5 trading platforms, it offers a proprietary web-based trading platform for manual traders, its mobile app AvaTradeGO, and its dedicated options platform AvaOptions. AvaTrade has also established itself as a popular choice for social traders, with services from DupliTrade, ZuluTrade, and its in-house social trading platform Ava Social.

The commission-free cost structure is not especially cheap but is still competitively positioned, and the minimum deposit is only $100. Traders are offered maximum Forex leverage through ASIC of 1:30. A hidden gem available at AvaTrade is its educational unit SharpTrader, where over 40 lessons and more than 200 videos await beginner traders.

Read more on AvaTrade »
4.8/5 in this category

Pros & Cons

  • High quality educational offering via AvaAcademy
  • Excellent choice of trading platforms catering to various trading needs
  • Broad asset selection and cross-asset diversification opportunities
  • Well-regulated and trusted broker with oversight from a central bank
  • Trading costs competitive but nothing special

Eightcap

In Summary Competitive pricing + excellent daily videos

Eightcap ensures a competitive advantage few brokers can match due to the availability of Capitalise AI, which enables algorithmic trading in a code-free environment in MT4. Traders can diversify portfolios through a well-balanced asset selection, including 100+ cryptocurrency CFDs. It makes Eightcap one of the best ASIC-regulated Forex brokers on my listing.

The commission-based trading account features raw spreads from 0.0 pips for a commission of $7.00 per 1.0 standard round lot, making Eightcap ideal for scalpers. Deep liquidity ensures lower spreads and no re-quotes. The low minimum deposit requirement of $100 ensures affordability, and Eightcap accepts cryptocurrency deposits.

Read more on Eightcap »
4.7/5 in this category

Pros & Cons

  • Low minimum deposit and high leverage of up to 1:500
  • Competitive cost structure
  • Excellent technology infrastructure and seasoned management team
  • Daily research and quality educational content
  • Limited leverage in some areas

Pepperstone

In Summary Great ECN execution on MT4/5, cTader, TradingView and Pepperstone proprietary platform.

Pepperstone is one of the most competitive ASIC Forex brokers. It offers upgraded core MT4/MT5 trading platforms through its 28 plugin Smart Trader Tools package. Traders can also opt to trade with the leading ECN platform, cTrader and proprietary Pepperstone Platform. All three trading platforms offered by Pepperstone have embedded copy trading services, depending on jurisdiction, and Signal Start, Copy Trading by Pepperstone and DupliTrade are also offered depending on jurisdiction.

Pepperstone lists an industry-leading ninety currency pairs with raw spreads from 0 pips and a commission from $6.00 per round lot, while the Active Trader Program lowers trading costs still further for high-frequency traders.

Through ASIC, a maximum leverage of 1:30 is available on Forex currency pairs. Pepperstone’s Bahamas subsidiary goes as high as 1:200 on Forex leverage.

Read more on Pepperstone »
4.6/5 in this category
Get Started
74-89 % of CFD traders lose

Pros & Cons

  • Excellent choice of trading platforms consisting of MT4/MT5, cTrader, TreadingView and Pepperstone Platform
  • Market-leading MT4/MT5 upgrade package, Autochartist, and API trading
  • Social trading support via Signal Start, MetaTrader Signals, Copy Trading by Pepperstone, DupliTrade
  • Leverage of up to 1:400 depends on jurisdiction and superb trade execution
  • Demo accounts have 60-day time limits

eToro

In Summary Best broker for social traders and crypto traders : 74% of retail CFD accounts lose money

I rank eToro among the best ASIC-regulated Forex brokers for copy trading due to its community centered around its proprietary CopyTraders copy trading software, including a built-in chat function to encourage engagement. The asset selection of 5,000+ trading instruments includes cryptos and ETFs, and Eightcap offers physical cryptocurrency trading and staking.

Traders get the user-friendly web-based eToro platform and mobile app, which are excellent for copy traders. It also introduced Self-Managed Super Funds for Australian long-term investors who wish more control over their portfolio. Acceptable commission-free Forex spreads start from 1.0 pips or $10.00 per 1.0 standard round lot.

Read more on eToro »
4.5/5 in this category
Get Started
Your investment value may change. Capital is at risk.

Pros & Cons

  • Active investment community ideal for social trading
  • Dedicated tools for social trading
  • Broad cryptocurrency selection
  • Expanding educational offering for beginner traders
  • Internal withdrawal fees

Understanding What ASIC Does

The establishment of the Australian Securities and Investments Commission (ASIC) in 1998 followed the recommendations from the Wallis Inquiry. It regulates the Australian financial system, including Forex and CFD brokers, and enforces laws to protect consumers, investors, and creditors. The ASIC reports to the Treasurer of Australia, a senior minister of the Crown in the Commonwealth Government.

ASIC was at the forefront of regulatory moves to shutter the now-defunct binary options sector, which was filled with scams, fraud, and a business model always favoring brokers over traders. ASIC was also instrumental in uncovering the massive fraud by disreputable Forex brokers outside Australia claiming ECN execution via multiple liquidity providers while routing orders via their international subsidiaries.

What are the responsibilities of ASIC?

ASIC’s core day-to-day activities are:

  • Promoting and growing the Australian financial market
  • Policing Australian regulated (ASIC approved) Forex brokers and other licensed institutions
  • Educating and protecting consumers by administering and enforcing rules and regulations
  • Engaging with the public and provide quality information
  • Maintaining the integrity of and trust in the Australian financial system

How does ASIC regulation protect Forex traders?

  • ASIC regulated Forex brokers must have a license and adhere to strict rules and regulations which are monitored and enforced by ASIC
  • ASIC enforces maximum Forex leverage of 1:30, which goes some way to protecting Forex traders from being overleveraged
  • ASIC publishes reports about investigations, maintaining transparency, and enhancing trust in the Australian financial system
  • ASIC provides educational content and Money Smart, its online portal, to help educate the public about important aspects of the Australian financial system
  • ASIC assists consumers with deposit recovery in the event of institutional default
  • ASIC works to ensure that the Forex and CFD brokers it regulates offer traders what they advertise and promise

What are the most essential ASIC Forex broker guidelines?

  • ASIC Forex brokers must maintain minimum operating capital of A$1 million
  • Segregation of client deposits with Tier 1 Australian banks
  • Maintain an AFC license
  • Conduct in-depth risk management for broker and client
  • Operate under best business practices
  • Offer conflict resolution to clients

Legislative basis of ASIC enforcement

  • Australian Securities and Investments Commission Act 2001 (ASIC Act)
  • Business Names Registration Act 2011
  • Corporations Act 2001 (Corporations Act)
  • Insurance Contracts Act 1984
  • National Consumer Credit Protection Act 2009 (National Credit Act)
  • Banking Act 1959
  • Life Insurance Act 1995
  • Medical Indemnity (Prudential Supervision and Product Standards) Act 2003
  • Retirement Savings Accounts Act 1997
  • Superannuation (Resolution of Complaints) Act 1993
  • Superannuation Industry (Supervision) Act 1993 (SIS Act).

Final Thoughts

Forex / CFD traders in Australia may choose between locally regulated or international brokers, but ASIC regulated brokers attract clients from all over the world due to Australia’s well-deserved reputation as an excellent retail Forex hub. This means that Australian resident traders mostly open accounts with ASIC-regulated brokers and have little reason to look beyond Australia unless they are seeking a broker offering extremely high leverage. Until recently ASIC allowed its regulated brokers to offer much higher maximum leverage to retail traders, but ASIC has implemented new regulations which put maximum leverage in line with what can be offered in the European Union. Despite this, ASIC is still seen as a more flexible and practical regulator than is typically found within the European Union.

Forex / CFD traders looking for an ASIC-regulated broker will face mostly the same considerations as traders anywhere in the world in selecting the best Forex broker:

  • broker regulation and reputation
  • minimum deposit
  • a suitable selection of assets
  • a fee structure which suits the intended trading style

For example, day traders will be more focused on competitive spreads while longer-term traders who typically hold positions open overnight will need to pay closer attention to whether overnight swap rates offered are competitive.

You might also be interested in reviewing the below top brokers:

FAQs

Who is the best Forex broker for Forex trading in Australia?

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The best Forex brokers offer low trading costs, deep liquidity, and ultra-fast order execution. They will also offer at least one trading platform which supports algorithmic and social trading and be well-regulated.

What is ASIC in Forex trading?

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ASIC is the Australian regulator responsible for policing Australian financial institutions, including Forex and CFD brokers.

Is Forex regulated in Australia?

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Yes, Forex brokers are regulated in Australia, by the Australian Securities & Investments Commission (ASIC).

Are brokers regulated in Australia?

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Yes, brokers in Australia need to be regulated by ASIC and must hold the required AFSL license.

What does ASIC stand for?

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ASIC is an acronym, which stands for Australian Securities and Investments Commission.

Who regulates brokers in Australia?

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Brokers in Australia are regulated by the Australian Securities and Investments Commission (ASIC).

How do you check if a broker is regulated by ASIC?

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You can check if a broker is regulated by ASIC by seeing whether they have an Australian Financial Services License (AFSL) number on their website or marketing collateral, and then verifying the license number against the ASIC professional registers.

What is an ASIC regulated broker?

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An ASIC-regulated broker is a Forex broker that has been regulated and licensed by the Australian Securities and Investments Commission (ASIC). ASIC is the Australian government body, which is responsible for overseeing financial services in the country.

Huzefa Hamid
About Huzefa Hamid

I’m a trader and manage my own capital. I trade the major Forex pairs, some Futures contracts, and I rely entirely on Technical Analysis to place my trades. Today, I am also a Senior Analyst for DailyForex.com. I began trading the markets in the early 1990s, at the age of sixteen. I had a few hundred British pounds saved up (I grew up in England), with which I was able to open a small account with some help from my Dad. I started my trading journey by buying UK equities that I had read about in the business sections of newspapers. The 1990s were a bull market, so naturally, I made money. I was fortunate enough in my early twenties to have a friend that recommended a Technical Analysis course run by a British trader who emphasized raw chart analysis without indicators. Having this first-principles approach to charts influences how I trade to this day.