Australia is a very big country and you will expect to find so many Forex brokers here. Yes, there are so many Forex brokers regulated to operate in Australia. While it is true that there are many of them around, you also need to understand that only very few of them can be trusted to meet your needs perfectly.
They all promise to give you heaven and earth. However, many of them actually do not have what it takes in order to fulfill their promises. For this reason, you need to look before you leap and not register with just any Forex broker.
You should read up reviews about the Forex broker before you pitch your tent with the broker. The outcome of the reviews will help you to choose the Best Forex broker Australia among them. In the remaining part of this write-up, we will show you a couple of things that will help you make the right choice among the Forex brokers operating here in Australia.
Best Forex Broker for Australians
| Forex Brokers | Min Deposit | Platforms | Max Leverage | Rating | Secure Link |
|---|---|---|---|---|---|
1  | $200 | MT4, MT5 | 300:1 | 4.9/5 | Visit Site Read Review |
2  | $200 | Plus500 Platform | 300:1 | 4.8/5 | Visit Site Read Review |
Forex trading Australia has so many benefits. It is one of the best methods if investment out there today. Unfortunately, many people are not making consistent profit from it. Be that as it may, you can make a lot of money from online trading. However, you need to know how to make the right trading decisions. One of the best choices is to get the right kind of information.
There is no better place to start your search for helpful information about Forex than BestForexBrokerAustralia.com. It is a unique website set up to make trading a lot more interesting for everyone. We also provide helpful guidance on our platform. The guidance can help different categories of Forex traders to make cool money regularly in online trading.
Online Forex Trading Guide for Australian Traders
Online trading is a global thing. Virtually anyone from any part of the world can participate in it. It does not matter if you are from the remotest location on earth. You can start making some cool money from online trading if you have a computer connected to the internet. The work of technology has further eased the process involved in online trading. You can now conveniently trade Forex on your mobile device. Forex trading is easier because the country has many-regulated Forex traders.
You can register conveniently without the fear of someone stealing your money. Nothing will also go wrong with your trading account. There are so many online trading brokers registered. BestForexBrokerAustralia.com is the best place to find information about the Forex brokers in Australia. We have carried out intensive research about various Forex brokers. We provide helpful details about each of them on our platform. Those looking for reliable online trading sites will not have a problem in locating one.
If you do not want to lose your hard-earned money by gullible and unreliable Forex brokers, simply visit our platform for detailed information about the various Forex brokers in the where you can kick start your Forex trading experience in an instant.
The forex market is a highly liquid market and its daily turnover is immense. While the opportunity to make money is always there in online trading, you need to also understand that online trading is not a playground for just anybody; yes, you need to be of a strong heart and a determined mind before you can count yourself qualified to trade Forex. Online trading is not for the faint-hearted at all. You can find help on our platform on how to become a far better Forex trader than you are now.
Every category of Forex traders can benefit from the various information that we provide on our website, be you a professional or green-horn trader. You will never regret partnering with us for the information we provide about online trading on this platform. We are always updating our website to ensure that our visitors get fresh information about online trading. This will ensure a better performance in the Forex market.
Forex trading Australia Always available to serve
The Forex market is open 24 hours and 5 days to intending traders. We are open 24/7 to serve the traders in Australia and to provide helpful tips on how to become better in Forex trading. We also help on how to generate more profits for a better trading experience. You can trade Forex during the five days of the week when it is open. The beautiful thing about it is that you can take trading actions during the day or night. This depends on what is ok with you. You can enter into trades any time so long as there is an open Forex market in any part of the world. The daily trading activities in the Forex market begin in Sydney Australia.
Residents of the United States can start online trading as early as 5 pm on Sunday. This translates to 10 pm on Sunday. This time corresponds to when the stock exchange in Sydney opens at eight o clock on Monday morning. Online trading then ends for the week when the market closes in New York on Friday by 5 pm. This translates to 10 p.m. in London. Consequently, trading activities start at 10 pm on Sunday in London and ends at 10 pm on Friday.
Top Rated Forex Brokers in Australia
At Best Forex broker Australia, we have prepared loads of helpful information. We can guide the trader on how to manage trades. Our tips cover each trading week. As a result, the trader can end each week by smiling to the bank. Many individuals have come to love the top quality information we provide. It has helped their trading styles a great deal. Our platform can greatly transform how you trade Forex. We dedicate ourselves to helping Forex traders make the right trading decisions. As a result, everyone can go home happy each week.
News and various economic events are important. They can determine what happens in the Forex market in each trading week. Good knowledge of those economic events is helpful. It can determine how Forex currency pairs will move for the week. We take it upon ourselves to enlighten our visitors. We focus on what to expect during each trading week as regards economic events.
You will learn about the possible impact each of these economic events can have. This will further enlighten you about the Forex market. As a result, you can make an informed decision each time you trade Forex. There is no 100% reliable strategy in Forex trading. However, the various helpful guides we provide on our website will help the Forex trader. He can make more profit than losses in the Forex market with our help. We design our services to ensure that trading online can be as profitable as the trader desires.
High level of liquidity only at Forex trading Australia
One other feature that makes the Forex market profitable is the high level of liquidity. It must also be stated that the high level of profitability is a two-edged sword. It can swing either way, helping you to make a profit or working against you to make losses.At Best Forex broker Australia, we have put together a unique system for traders. The system can help every Forex trader understand how to manage high liquidity. As a result, they will not find themselves on the wrong side of the divide. They can now make the right trading decision most times.
The fact that the Forex market is highly liquid eases asset conversion. The liquidity makes it possible to convert assets to cash very fast. Also, a large number of assets can be converted within a very short period. You can also do this with very small spreads. The spread is the difference between the bid and asks prices of that particular currency pair. The high liquidity is one of the many factors that have bedeviled many newbies in Forex trading. It can render a trader unprofitable. Many of them have even given up the hope of ever making anything tangible out of online trading. However, the service we provide places everyone at the same level of advantage.
We offer an incomparable quality of education to intending Forex traders and old hands in online trading. They can also benefit from the helpful guidance provided by our professional traders. Consequently, you can start having fun via trading. You can also make money consistently from online trading through our program. You, however, need to be patient enough to follow the guidance we provide on our platform. With the help of our professional guidance, never again will any broker rob you. The helpful information we provide will give you the upper hand most of the time so that you can smile more often to the bank and also become a professional Forex trader in no time.
Becoming a professional Forex trader never happens overnight; rather, it happens over time. Yes, it may take time, but it is worth the wait. There are so many things to learn about the Forex market before you can become a professional trader. Very few online trading sites can open your eyes to these things adequately. At our platform, we have simplified the process of learning about the Forex market so that virtually everyone can learn from us, including a newbie. The learning process makes all the difference and it is also simplified in such a way that even a greenhorn can be transformed into a professional trader by following the helpful guide we provide on our platform.
Forex trading reviews : Low transaction cost
The Forex market has low transaction cost, which makes it welcoming to different categories of traders, both newbie and old hands. The cost of each of the transactions is automatically built into the price and the cost appears in the form of spreads. As hinted earlier, the spread represents the difference between the ask and bid prices of a particular asset or Forex pair. The pip spread is the profit made by the Forex broker and it is charged on every Forex trade. The pip spread varies from one currency pair to another. The major currency pairs usually carry low pip spreads, while the minor currency pairs usually come with high pip spread. The wider the pip spread, the more you will be charged on that particular transaction.
We will enlighten the Forex trader about what pip spread means and how to calculate it. We will also enlighten the trader on what to do to avoid paying a high cost on pip spreads. It must also be mentioned that the particular Forex broker you register with will determine how much you pay as a cost on each trade. We will show you the set of brokers that charge very low on pip spread we will also reveal to you those brokers that charge almost nothing as pip spreads. The time you trade Forex can determine if you pay and how much you pay as pip spread. We will equally enlighten traders on the best time to trade if they do not want to pay a huge amount as pip spread.
Furthermore, your lot size can go a long way to determine how much the pip spread will cost you. We have adequate information about all these technicalities so that our visitors will not find themselves in very difficult situations as regards pip spreads. In most instances, a pip represents the 4th place after the decimal point; it can also translate to the 1/100th of a percent. If the trade involves the Japanese yen, then a pip can represent the 2nd place after the decimal point or one percent of the currency pair price.
Let’s say a bid price is 1.3244, for example, and the asking price is 1.3246, the pip spread is the difference between the two numbers, which is 2 pips. If you still do not understand how to calculate the pip spread and find it difficult to understand any other technicality that surrounds it, all you have to do is to pay a visit to wordpress-466350-1710625.cloudwaysapps.com and we will help you to understand better.
Aside from pip spread, you may also be required to pay brokers’ commissions. The commission can be in the form of the percentage of the transaction amount or it can be a flat fee. We will enlighten you about this and also help you to choose the right broker that will charge you little or no commission. This way, you can make more profit in Forex trading.
The magic of leverages : Forex Brokers in Australia
Leverage allows you to control or open a large position with a very small amount of money. This means that you can control an open position that is worth $100,000 with as little as $100. Leverage gives hope to many Forex traders, especially those with very small capital. In times past, only individuals with loads of cash could trade Forex. The introduction of leverage to the picture changes all that.
These days, you can start trading Forex with a very small amount of money and still make a profit; this is made possible by leverage. If you are finding it difficult to understand how leverage works, we are ever ready to put you through and enlighten you about this very important aspect of online trading. By using a leverage of 50:1, for example, it will increase the value of every $1 in your account to $50. If you are trading with a leverage of 100:1, it means that every $1 in your account will have the power of $100 in the Forex market.
If your total capital is just $100, it means you can trade as if your total capital is $10,000. You can connect with us for more in-depth education on this subject matter. We can help you to make the right decisions when choosing leverage for your trading online. Many people trading online make costly mistakes when choosing leverages, but you will never make such mistakes if you can follow the guide we provide on our website about leverage. We help to simplify the entire thing to make it a lot more understandable to the trader. Even a complete novice in online trading can easily understand how leverage works if he follows the details we provide on our website.
Make money both ways : Forex trading Australia
One of the most interesting things about trading online is that it allows you to make money both when the particular asset involved is rising and falling. If you are a complete newbie in Forex trading, we will enlighten you about how these work. We can equally give you tips on how to place your trades when the price of the asset is rising or falling. We will equally enlighten you about how to trade both on your PC and your mobile device. The two devices work similarly but the interface may need some sort of explanation before a newbie can get a grip of things. We have got special training on that on our website and you should visit today to start enjoying what we have to offer.
You can place a “buy” trade if you think the price of that particular asset will rise and you can place a “sell” trade if you think the price of the asset will fall. When you place a buy trade, we say you are “going long”. When you place a sell trade, on the other hand, we say you are “going short”. Currencies are traded in pairs and are explained to details in this guide. However, we go into more details so that every category of traders can understand how things work. When you place a trade in the Forex market, you will be buying one currency against another currency; the reverse is the case when you sell one currency pair against the other.
If you are trading GBP/USD, for example, you will be buying or selling one currency against the other each time you place a trade. Placing a buy trade on GBP/USD, you will be buying the GBP and selling the USD at the same time. If you place a sell trade on the GBP/USD, on the other hand, you will be selling the GBP and buying the USD at the same time. Every trader needs to bear this in mind every step of the way. The first currency in the pair is called the base currency, while the second one is called the “quote” price.
Demo Forex trading Australia
Demo trading helps every trader to get a grip on how the Forex market works before he takes trading decisions. Most Forex trading platforms will give their registered members assess to demo accounts. The trader can then use the demo account to test new strategies and also learn the rope. However, it is unfortunate that not all brokers will provide demo accounts. We will show you the various brokers that will give you access to demo accounts.
A demo account will help you to decide if the Forex market is the place for you or not. You should always remember that online trading is not for everyone. Demo trading gives you the same experience that you will get when you do live trading since they are all the same. However, the psychological situation of things may differ between when you trade live and when you trade demo. This is especially because real money is involved in Live Trading as against demo trading where you use unreal money. We will teach you what it called money management strategies that can help you manage your emotions when trading Forex live.
Forex trading Australia demo accounts
A demo account is the perfect training ground for a Forex trader. It will open your eyes to what online trading entails, thereby enabling you to make the right trading decisions. We have experts that can enlighten you about how to handle your demo trading. The guidance provided by our professional traders will show you how to grasp as many points as possible from demo trading so that you can get the desired result at the end of the day.
Demo trading helps you to trade Forex without any risk. It is also the perfect place to test your new trading strategy. The performance of that trading strategy on your demo account is a perfect description of how that strategy will work on your live account. You should steer clear of any Forex broker that does not allow you access to a demo account. Some Forex brokers also insist that the trader deposits money into his trading account before he is allowed to access the demo account. Such brokers are rogues and you should steer clear of them. We have compiled a list of reliable Forex brokers on our platform and each of them gives access to a demo account once you sign up a free account with them see more at aussie forex.
Things to Consider when Choosing a Forex Broker in Australia
Consider Regulation
Before you choose any of the Forex brokers in Australia, first find out if the broker is regulated or not. You are better off with a regulated Forex broker. It is better to register with a broker that is regulated by the Australian Securities and Investment Commission (ASIC). That means such a trader went through the regulation process in Australia. It also means that the broker passed all the criteria and standards set by this body. ASIC will also be responsible for monitoring the activities of such a broker. You can trust any broker under the control of ASIC to protect your interest. Such a broker will not steal your money. Your details and security will also not be in jeopardy on the platform of the broker.
Protection from ASIC
ASIC is an agency that belongs to the Australian government. So, you are under the protection of the Australian government when you register with a broker under ASIC regulation. ASIC is the major regulator of the financial market in Australia. Every organization in the Australian financial market must be under the control of ASIC. Also, you should find out if the Australian Forex broker has the AFSL. This will assure you of choosing the top Forex broker and the best CFD broker Australia. AFSL stands for the Australia Financial Services License. ASIC always takes its regulatory responsibility very seriously.
You need to do the following to know if the broker is under regulation:
- Check the ASIC website to validate the license number of the broker.
- You can also check the “About Us” page of the website to find out about the AFSL number of the broker. You can check the bottom of the website for the “About Us” page.
Trading Platform
One other way to decide if the Forex broker is the right one for you is by checking the trading platform. Thanks to a variety of Forex trading platforms and stock trading apps. First of all, find out if the trading platform is user-friendly. Also, find out if the trading platform is stable. A good Forex trading platform must be easy to access. Check if the trader gives you access to a demo account. Is the demo account available for free? You can use the demo account to try out the trading platform. The demo account can help you to determine if the platform is user-friendly or not. You need to consider the points below when choosing the right broker:
- Check if the trading platform has many technical and fundamental analysis and charting tools.
- Find out if the platform makes it easy to enter and exit a trade. Check for clear buy and sell buttons on the trading platform.
- Does the broker support the MT4 trading platform? MT4 stands for MetaTrader 4. It is the most popular Forex trading platform. It is also the most commonly used by Forex traders across the globe.
- Additionally, check if that trader provides elements that can enhance trading experience. Some of the elements include automated trading options and customization options. Also, check if the broker supports strategy builders and trading alerts. You should equally check if the broker provides a web-based trading platform.
Account Details
Different Forex brokers offer different types of accounts. You need to look out for this when choosing the right Forex broker to register within Australia. Check all the unique account offerings and go for any of them that meet your trading needs.
Spreads and Commissions
It is also important to consider the pip spreads and commissions charged by the Forex broker when looking for the best Forex broker Australia. The commission and spread differ from one broker to another. You cannot avoid paying a commission and spreads when you trade Forex. So, the best thing to do is to look for a broker offering a spread that is not too high. You should steer clear of that broker if its spread or commission is not affordable. While choosing affordable spread, you must not sacrifice reliability at all. If the spread is too wide, it will be difficult to make a profit on that broker’s platform. So, you should lookout for a broker that offers very tight spread.
Leverage
You need to also check the leverage amount that the broker offers before you register there. When trading Forex, the leverage can help you to make a lot of profit with a small amount of money in your trading account. The leverage available on brokers varies from 50:1 to 500:1. Leverage is the money you borrow from the broker to trade. If your account balance is just $1,000, you can control a position as big as $50,000 if you use a leverage of 50:1. When choosing a Forex broker, look for one that provides leverage that fits your risk appetite
Initial Deposit
One other very important factor to consider when choosing a Forex broker is the initial deposit the broker accepts. The initial deposit differs from one broker to another. Some brokers demand initial deposits as high as $500. Some other ones only ask for a $250 initial deposit. You can find brokers demanding for just $100. What matters is your financial capability. Look for an Australian Forex broker that accepts the amount of money you are willing to risk on forex trading.
Currency Pairs Available
Before you consider that Forex broker as the best Forex broker Australia, you need to find out about the number of currency pairs supported by the broker. You will find a big selection of currency pairs on many Forex brokers out there today. The best thing to do is to look for a Forex broker that supports the particular currency pair you want to trade.
Check For Execution Speed
You need a Forex broker that executes trades very fast when looking for the right Forex broker in Australia. If the trader offers fast execution speed, it means you can trade at the price you desire. You should steer clear of brokers that have high latency in trade execution. Such a broker can cause you to lose your capital easily. Low latency contributes a great deal to profitability in Forex trading.
Ease Of Deposit And Withdrawal
Before you register an account with a Forex broker, you also need to review the ease of deposit and withdrawal. Check if the broker makes deposit and withdrawal very easy for its traders and investors. Do not forget to check the deposit and withdrawal policies of the broker also. Find out if deposit and withdrawal processing I easy on that broker or not. Also, check if the broker supports varieties of deposit methods. This will make it very easy for you to deposit money and also withdraw your funds very fast.
Data Protection
Check the security of the Forex trading platform before you register there. You will have cause to provide personal details when using the broker. So you must be sure of the security before you register on that broker. The broker must have what it takes to protect the financial and personal information you provide on its platform. Check if the broker has robust security features before you register there. Some other important security features to consider are:
- SSL encryption
- 2-factor authentication
Additionally, the broker should show you the privacy policy. The document will give details about how it plans to use the information they collect from you.
Educational Tools
Before you choose a broker in Australia, check if that broker provides a series of educational tools. As a beginner in Forex trading, you will find the educational tools to be very useful. Some of the educational tools to look out for are:
- Fundamental analysis tools
- News updates
- Technical tools
- EBooks
- Great video tutorials and so on.
These educational tools can make you a more productive and profitable Forex trader. They can help you to grasp Forex trading faster than ever.
Quality of the Customer Service
Make sure the Australian broker offers a very good customer service before you register there. Find out if the broker is available for the 24 hours of the day to answers the queries of the traders and investors. This is because the Forex market is open for 24 hours per day. If the desired technical support is not there when you need it, then you cannot consider that broker to be the best Forex broker Australia. A good Forex broker will make it easy for the clients to get in touch. Some will make it possible to communicate whit them via email, phone call, and even live chat. Some great brokers now offer social media communication these days. This makes things a lot easier for traders and investors.