The Traders Union has updated its rating of the Best Brokers in Australia for 2022. It is based on data obtained as a result of due diligence of companies offering brokerage services to Australian Forex traders. The evaluation algorithm is based on 107 objective criteria, conventionally divided into five functional groups.
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The Top 10 of the Best Australian Forex Brokers
The list of the best brokers in Australia includes companies that offer clients the most favourable trading terms, provide quality software and allow the withdrawal of funds seamlessly and without delay. All the Top 10 brokers of the Traders Union rating are licensed by reputable international regulators.
The Traders Union list of the Top 10 Best Brokers in Australia:
- eToro. This broker is regulated by the FCA, ASIC, and CySEC, and provides clients with a proprietary trading platform, with spreads from 0.1 pips, and a wide range of investment solutions. The minimum deposit is $200.
- IC Markets. The company offers favourable trading terms for active traders and passive investors. The minimum deposit is $200 to enter the Forex market. The supervisory authority is ASIC.
- IG.com. This broker is licensed by FCA with CFD trading adapted terms. The minimum amount to start cooperation with this company is $450.
- CMC Markets. This broker is supervised by the FCA. It offers zero minimum deposit and leverage up to 1:500, and with spreads from 0.7 pips.
- Plus500. It is among the leading CFD providers in the European and Asian markets, offering deposits from $1 and precise floating spreads. It is regulated by the FCA.
- AvaTrade. This is a broker with a minimum deposit of $100, and allows clients to trade over 250 instruments with a leverage of up to 1:400, and with minimum commissions. It is monitored by seven international bodies, including ASIC.
- Oanda. This company is licensed by FCA and offers Forex trading and PAMM investing. It allows you to trade on financial markets with a deposit of $1.
- Interactive Brokers. It is an FCA, FINRA, and SEC-regulated broker with an excellent reputation. The minimum investment is $1, leverage is up to 1:100.
- Pepperstone. The company allows trading using 150 instruments with spreads from 0.0 pips when depositing to the account balance from $200. It’s supervisory authorities are ASIC and FCA.
- Forex.com. This is a GAIN Capital holding subsidiary that operates following FCA requirements. The minimum deposit is $1,000. Floating spreads are from 0.2 pips.
Category list for Australia’s top brokers
The analysts at Traders Union have compiled shortlists of companies based on certain parameters and the consolidated best brokers in Australia rating.
The top Australian brokers’ list contains the following listings:
- Top brokerage firms offering investment programs.
- Top brokers in Australia for novice traders.
- Companies whose accounts can be funded through Australian banks.
- Brokers who are located in Australia.
The page also contains reviews by the brokers’ clients from the Top 10 rating of the Best Forex Brokers in Australia.
Groups of criteria for determining the Best Brokers in Australia
To obtain the most objective rating, Traders Union analysts evaluated each candidate for the title of the Best Broker according to the following criteria:
- client — 27 criteria;
- service — 23;
- financial — 22;
- economic — 18;
- reputation — 17.
The integrated approach has become the key to conducting comprehensive research and compiling an honest rating of the Best Forex Brokers in Australia.
Synopsis of the Traders Union
Since 2010, the Traders Union has been providing its members with free information and legal support, as well as providing bonuses in the form of rebates. By opening a trading account with a broker through Traders Union, you will be compensated for the spread on all trades made on Forex, and these rebates will reduce your trading costs.
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