When it comes to forex trading in Australia there are plenty of options to choose from. You can use our table below to compare brokers by fees, available trading platforms and spreads.
Disclaimer: General information only. All forms of investments (and in particular, trading CFDs, commodities and forex) carry significant risk, including the risk of losing more than the invested amounts, market volatility and liquidity risks. Past performance is no guarantee of future results. Such activities are not suitable for most investors.
Trading CFDs and forex on leverage is high-risk and you could lose more than your initial investment. It may not be suitable for every investor. Refer to the provider’s PDS and consider the risks before trading.
Disclaimer: General information only. All forms of investments (and in particular, trading CFDs, commodities and forex) carry significant risk, including the risk of losing more than the invested amounts, market volatility and liquidity risks. Past performance is no guarantee of future results. Such activities are not suitable for most investors.
Trading CFDs and forex on leverage is high-risk and you could lose more than your initial investment. It may not be suitable for every investor. Refer to the provider’s PDS and consider the risks before trading.
What are the best forex brokers in Australia?
To find the best forex brokers in Australia, Finder uses a proprietary algorithm that incorporates fees, security, trading features and available products.
The following platforms were awarded top marks in the latest Finder Forex Broker Awards (2023):
We compared 33 forex brokers across 28 metrics to find the best in Australia. The metrics we studied fell into 5 categories; Security and trust, Cost and fees, Trading features, Beginner-friendly features and Markets offered. Within these categories we considered the following features:
ASIC regulated
Number of years in business
AUD/USD Avg. Raw Spread
Commissions (USD Base)
Inactivity Fees
Funding Fees
Minimum Deposit
Swap free account option
MT4, MT5, cTrader availability
Access to TradingView
Available markets
Leverage available
Available mobile app
Number of funding methods
Copy trading feature
Demo account availability
Stop Loss feature
Number of tradable currency pairs
Available cryptocurrencies
Available indices
Available stocks
Available commodities
When comparing each award, we gave each category different weightings to match the needs of the user. For example, the best forex broker for beginners had a stronger weighting for beginner-friendly features compared with more advanced trading tools.
While Finder has commercial arrangements with some forex brokers, this did not impact the final selection of the forex brokers shown below. Our algorithm based the forex brokers on their merits regardless of our partnership deals.
Best forex broker in Australia (overall): Pepperstone
The best forex trading platform in Australia is Pepperstone according to Finder's latest analysis. It achieved high scores across the board thanks to its vast range of tradeable instruments, tight spreads and unique trading tools.
Pepperstone brings a combination of cheap fees and incredibly quick order executions, which is why it won our best overall broker. Not only is it fast, but it has over 1,200 instruments for traders to choose from across forex, share CFDs, commodities and crypto assets. The broker also offers traders advanced tools, copy trading features and strong educational resources.
Tight spreads
Algorithmic and copy trading features
99.72% fill rate and no dealing desk interventions
With a strong emphasis on educational resources, copy trading features, demo accounts, mobile trading and stop-loss features, Eightcap has taken our best for beginners trading award. Eightcap offers a lot of user-friendly features and a low commission rate starting at 0.0 pips. It also supports a variety of currency pairs and crypto trading.
Host of beginner-friendly features including copy trading
Quick and easy sign up
Strong educational resources
Cannot filter educational resources by level of experience
Global prime is an ECN broker that does not run a B-book, which means that it doesn't seek to profit from traders' losses. The broker offers traders low fees, trade receipts, advanced charting, a trading community and over 45 currency pairs. Plus, it offers spreads starting from 0.0 pips, winning as our best value broker.
Global Prime doesn't run a B-book so it doesn't bet against your trades
It offers investors a strong trading community
Can trade using AUD, USD, GDP, CAD, SGD and EUR
Spreads start at 0.0 pips
Large initial deposit required
Doesn't have as many currency pairs as some other providers
Admirals has a number of advanced trading features, which is why it is perfect for those with a bit more experience. The broker offers traders over 5,000 assets to choose from, plus offers $0 dollar transaction fees for the first trade of the day. Admirals' strong educational resources also help even the more experienced traders.
Invest with $0 commission on first trade
Trades start from $1
Broker offers over 5,000 tradeable assets
Inactivity fees
No 24/7 customer support services
Commission
$4
AU/USD avg. raw spread
1
Inactivity fee
€10
Minimum deposit
€100
How to pick the best forex broker
It goes without saying, but how experienced you are and your strategy will determine what broker works best for your needs.
When you're looking for forex brokers, there are a few things to look out for, including:
Reputable and ASIC regulated. At a minimum, make sure they should hold an AFSL license.
Currency pair offerings. Some providers only offer major currency pairs while others offer the minors as well. Choose one that can match your needs.
Platform type. Providers will use MetaTrader 4, MetaTrader 5 or in some instances the option of both. You should compare one that works for you.
Demo accounts. Do you have a new strategy? Well, a demo account can be a great way to test your theory. Finding a broker that can help with this might be beneficial to your particular needs.
Fees. Every broker has fees, but what they charge you can vary depending on the provider. Generally speaking, you should keep an eye out for spreads, commissions, withdrawals and inactivity fees.
Minimum deposits. You should check the minimum amount you have to deposit when you sign up to a broker.
Available markets and options. This is probably one for more advanced traders, but knowing what you can trade and where you can trade can be advantageous, especially for those looking to trade in a niche area.
Charting features. If you're a serious trader, you need to be able to read charts. As such, having advanced features can help you make more informed decisions.
Copy trading. Depending on your experience level, copy trading can be a way to learn from those who have been trading for a while now.
Educational resources. Whether you're new to trading or have been doing it for years, everyone should aim to improve. Educational resources from the provider can help with this.
Stop losses. It is also important to have a stop-loss plan. Having a trading provider that can help you with this can take the hassle out of selling should your trade not work.
Automated and copy trading. If you're just looking to follow others' trading or want to set up a plan and let the bots take over, these features can help.
The spread is the ‘cut’ your broker will take from your trading. It’s how they make their money. You don’t want to use a broker with very high spreads. At the same time, you get what you pay for, so cut-price spreads will most likely come from brokers that don’t offer as many features or as good a service. It's important to compare spreads and ensure you’re not being taken for a ride. But also include a comparison of features to make sure you aren’t compromising your performance by going after low spreads only.
Most forex trading platforms will allow you to apply for an account within minutes online. While the application process varies between providers, you'll usually have to fill out an online application and then wait for a response from the provider to learn whether your application has been approved.
You'll usually have to supply the following:
Your name
Date of birth
Your contact details
Current address
Your country of residence
Proof of ID, for example a driver's licence or passport
How does forex trading in Australia work?
In a globalised world, international currencies are important because they need to be traded in order for business to be conducted. Every day, foreign currencies go up and down relative to one another and traders can profit from these movements.
Trading decisions are based on which way traders think forex prices will fluctuate in the future.
Unlike your traditional investing assets that run on an exchange, forex trading is done via 2 parties in an over-the-counter market. There's a variety of ways to trade forex, but in essence, they all work the same way – by trading currency pairs.
But to trade forex directly in Australia, you need a large amount of money and to be classified as a "sophisticated" investor. For this reason, direct forex trading is usually carried out by wholesalers or institutional investors.
Retail investors more commonly trade forex through derivatives contracts, such as futures contracts or CFDs (contracts for difference). In fact most forex brokers that you'll come across in Australia are actually CFD brokers.
It's important to know that CFDs are complex and risky derivatives products that are best suited to experienced traders.
Finder survey: How do Australians of different ages primarily trade forex?
Response
75+ yrs
65-74 yrs
55-64 yrs
45-54 yrs
35-44 yrs
25-34 yrs
18-24 yrs
Through an ETF or managed fund
1.49%
0.8%
1.84%
1.05%
Other
0.57%
With a forex broker (non-CFD)
0.57%
1.23%
2.78%
2.81%
0.46%
2.11%
With a money transfer service
0.57%
0.56%
0.8%
2.76%
3.16%
Through a CFD platform
0.62%
0.56%
3.61%
4.61%
2.11%
Full-service (advice) broker or portfolio manager
0.92%
1.05%
Source: Finder survey by Pure Profile of 1145 Australians, December 2023
How do forex CFDs work?
On the global forex market, all currencies are quoted in pairs, and this is how CFD forex trading works as well. For example, AUD/EUR, GBP/EUR and AUD/USD are just a few common pairs.
Rather than buying and selling foreign currency, a trader enters into an arrangement with a broker to profit from any change in the exchange rate between 2 currencies. Of course, if the exchange rate between the 2 currencies doesn't move in their favour, the trader stands to lose money as well.
When a trader initiates a forex trade (or "opens a position"), it's as though they are buying one currency and selling another at the same time. If the value of one of the currencies moves against the other, the trader "closes out" their position, selling the other currency and buying back the original currency they sold.
It's important to remember that at no stage during the above transaction do you actually own or take delivery of the currencies involved in the trade. That's why forex traded in this way is considered a derivative instrument, because its value is based on an underlying asset, without that asset ever being physically exchanged between the parties.
Are forex brokers in Australia safe to use?
You should check to see if the broker is regulated by the Australian Securities and Investment Commission (ASIC). From a compliance standpoint, this means you're protected under Australian law. You can also feel secure knowing they are not peddling a scam platform.
That being said, trading forex itself can be risky. The forex market is incredibly fast-moving, with only a fractional change in position potentially having a large impact on your returns. If you are trading CFDs, they also rely on leverage, which adds to your risks.
As such, they are better suited to more advanced traders.
When you trade any platform though, you'll face a few risks, including:
Cybersecurity: Online platforms are vulnerable to hacking and cyberattacks.
Market risk: Forex can fluctuate rapidly and unpredictably, leading to potential losses for traders.
Small movements have a big impact. With forex trading, only a minor move in the pips can drastically change the value of your position.
Incredibly difficult to predict. Forex markets are driven by complex factors that make trading them incredibly difficult for investors.
Forex scams. The forex sector tends to be a magnet for scams and fraud. If a dodgy trading platform goes broke and disappears, there may be no way to get your money back, so the safest approach is to only ever trade through a trusted broker authorised by ASIC.
Platform failure: Technical glitches and system failures can cause temporary disruptions or errors in trade execution. This can be costly for traders given the speed of the forex market.
Counterparty risk: When using a platform to trade with other individuals, there is a risk that the counterparty may not fulfil its obligations, leading to losses.
Misleading information: Inaccurate or misleading information can lead to poor investment decisions and losses.
How leverage works in forex in Australia
Forex trades are typically leveraged, meaning you only contribute a small stake towards the total value of the trade.
That's because currency exchange rates only fluctuate by small amounts, usually by tenths or hundredths of a cent. So, to realise any significant profit or loss, you need to trade at high volumes.
Leveraged trading (or trading on margin) allows you to take out a small stake in a much larger trade, with your broker typically making up the shortfall. If the exchange rate moves in your favour, you stand to profit from the full amount that was traded, not just your small stake.
Of course, it works in the opposite way as well, so if the exchange rate moves against you, you are liable for the losses incurred on the full value of the trade.
That's why forex trading is typically suited to more experienced and less risk-averse traders.
Working example
Say you're trading the euro vs the Australian dollar, with the hope the euro will strengthen.
You could enter a position at a price of say $1.3147.
You could buy $100,000 for the trade but would face a margin of something like 3%, meaning an initial outlay $3,000. In this example, your leverage would be 30:1, the highest allowed in Australia.
The lower the margin, the greater amount of leverage needed for each trade.
If the 100,000 is being traded at 1.3147 and it goes up to $1.3167 then the price is up 20 pips, meaning the trader has made $200 ($100,000 x 0.020).
The reverse is also true. If the currency fell to $1.3127 from 1.3147 then the trader would lose $200 ($100,000 x 0.020)
These gains and losses would be amplified by leverage.
What are the costs of forex trading?
There are a few fees to think about when selecting a forex broker.
For instance, some providers charge a commission fee on every trade you make. These fees will generally be quite low, such as a few cents per thousand dollars traded. Others wont charge any commissions but instead make money on the spread.
The spread is the difference between the buy and sell prices for each currency pair. This is where most brokers will collect their trade fee. Look for a trading platform that offers tight spreads to minimise the costs involved.
While not really a fee, you should also think about the margin you'll be required to meet in order to make a trade. This could be 0.5%, 1% or some other figure, and it will affect the amount of money you'll have to spend to open a forex position. For example, if your account has a margin of 1%, a trade worth $100,000 will require you to spend $1,000.
Other fees may apply to credit and debit card payments.
What are the benefits of forex trading?
Why trade forex? Here are some of the potential benefits:
Trading hours. Forex markets are highly accessible, with many open 24 hours a day. Unlike the New Zealand Stock Exchange, for example, which only offers normal trading between 10am and 4:45pm on business days, the global forex market runs around the clock (but not on weekends). This means foreign exchange prices are constantly going up and down and there are plenty of opportunities for traders.
Leverage. Because forex is a leveraged product, individuals can trade on the market for a smaller initial outlay. In order to place a trade, you only need to spend a small percentage of the full value of your position, which means there is a much higher potential for profit from a small initial outlay than in some other forms of trading. Unfortunately, this also means there is a greater risk of suffering a loss.
Liquidity. As forex is the world's most traded market, there are always plenty of buyers and sellers making trades. This makes currency markets highly liquid, helping to ensure fast transactions and low spreads.
What are some of the risks of forex trading in Australia?
Just like any other type of investing, forex trading comes with a level of risk attached. It's important to be aware that foreign exchange trading is highly risky, so you need to be aware of all the dangers involved with this sort of trading. These include:
Leverage. Even though you only have to pay a small percentage of the value of your trade upfront, you are still responsible for the entire amount. So, while profits can be magnified if the market moves in your favour, so too can losses if the market moves against you. Be aware that your losses may be greater than your initial investment.
Volatility. Foreign exchange rates are volatile and can quickly move against you, causing you to lose a significant amount of money.
24-hour trading. As markets are open 24 hours a day, you may need to devote plenty of time to tracking any open positions.
Currency markets are complex. Predicting currency markets is quite difficult as they can be affected by a wide range of factors. Unexpected events can also cause rapid fluctuations in currency values.
Minimal protection. Even stop loss orders which are designed to minimise your losses can only offer limited protection against the risks involved.
Scams. The forex sector tends to be a magnet for scams and fraud. If a dodgy trading platform goes broke and disappears, there may be no way to get your money back, so the safest approach is to only ever trade through a trusted broker authorised by the Financial Markets Authority. You should also be extremely wary of special offers that sound suspiciously good, and of forex trading seminars and courses that make outlandish promises.
Forex trading is complicated and features a high level of risk, so consider your options carefully before deciding whether it's the right option for you.
Is forex safe for beginners?
Forex trading is a riskier asset class that tends to favour more experienced investors.
This doesn't mean a regular investor can never learn the ropes, it just means they will need to do their homework prior to entering the market.
Before making your first trade, you'll need to understand that the market is incredibly volatile, that leverage can turn small movements in price into massive gains or losses, and why one currency is moving compared to another.
But, despite the risks and complexities, forex investing amongst retail investors is on the rise, and so too are the educational resources available to new investors.
Before deciding on the right trading platform for you, make sure to compare the fees and benefits of several providers.
What types of currency pairs are there?
A currency pair is always structured in the same way, following a universally accepted ranking order and always showing the value of a base currency (the first) being traded against a quote (the second) currency.
There are 3 types of currency pairs that you need to be aware of: majors, minors and exotics.
Major currency pairs
The major currency pairs are considered any market that features the US dollar. The majors are the most frequently traded currency pairs and are therefore the most liquid forex markets to trade.
As a forex trader, this liquidity means that the majors feature relatively stable prices and the lowest spreads, or brokerage costs, when taking a position in any of these currency pairs.
Major currency pairs
EUR/USD
Euro/US dollar
USD/JPY
US dollar/Japanese yen
GBP/USD
British pound/US dollar
USD/CHF
US dollar/Swiss franc
USD/CAD
US dollar/Canadian dollar
AUD/USD
Australian dollar/US dollar
NZD/USD
New Zealand dollar/US dollar
The US dollar is the world’s leading reserve currency and is involved in about 88% of currency trades globally. The EUR/USD currency pair is the most heavily traded and therefore the most liquid currency pair in the world. If you’re going to open a forex trading account, this is the pair to start trading first.
Minor currency pairs
If a currency pair doesn’t feature the US dollar, it's considered to be a minor currency pair. The minors are sometimes called currency crosses because the market means you’re no longer required to first go through US dollars, as was once the case.
The minors aren’t as liquid as the majors, meaning they move more erratically and have wider spreads displayed on your forex trading account.
Minor currency pairs
EUR/GBP
Euro/British pound
EUR/AUD
Euro/Australian dollar
AUD/NZD
Australian dollar/New Zealand dollar
GBP/JPY
British pound/Japanese yen
CHF/JPY
Swiss franc/Japanese yen
NZD/JPY
New Zealand dollar/Japanese yen
GBP/CAD
British pound/Canadian dollar
The most widely traded minor currency pairs consist of pairs in which the individual currencies are also majors. Some of the more popular minors are EUR/GBP, GBP/JPY and AUD/NZD.
Exotic currency pairs
The final type of currency pair is known as an exotic. The exotics are essentially minors that feature currencies of emerging market economies.
The nature of emerging markets is that they’re less stable and much more illiquid as a result. This means that when it comes to trading exotic currency pairs, you’ll experience wild price swings and much wider spreads.
Exotic currency pairs
EUR/TRY
Euro/Turkish lira
USD/HKD
US dollar/Hong Kong dollar
JPY/NOK
Japanese yen/Norwegian krone
NZD/SGD
New Zealand dollar/Singapore dollar
GBP/ZAR
British pound/South African rand
AUD/MXN
Australian dollar/Mexican peso
Keep in mind that the wide spreads mean you may not see your trade executed at the price you expect. When you’re trading exotics, you need to make sure you know what you’re doing and manage your risk accordingly.
Which currency pair should I trade?
Picking the right currency pairs to trade on your account depends on your experience as a forex trader. If you’re new to the game, it’s best to stick with the major and minor pairs. This is because these markets are more stable and you’ll get lower spreads.
Exotic pairs are more difficult to work with because they are more erratic and their low liquidity means you’ll see higher spreads.
Whichever currency pairs you decide to trade, make sure you’re managing your risk. It’s imperative to understand that while the opportunity for moves may be larger in the exotics, this also means that your risks are amplified if the market moves against you.
Disclaimer: Trading CFDs and forex on leverage is high risk and losses could exceed your deposits.
Bottom line
There's no best broker in forex trading, but there are some that are more suited to your individual needs and circumstances. If you're newer to trading, you might prefer a broker that favours education or if you're more experienced you might choose one that has advanced features.
Regardless of who you choose, all forex trading comes with risk. In fact, depending on who you ask, somewhere between 60% and 80% of traders lose money. As such, this should only be taken on by more experienced investors.
Frequently asked questions about forex trading
Once you’ve familiarised yourself with all the risks involved in trading forex, you may want to consider opening a demo account with a forex trading platform. This will help you see if you have what it takes to successfully trade forex.
A pip (point in percentage) is generally the smallest movement an exchange rate can make. In most cases, this refers to the 4th decimal place of a currency, for example 1.2345. But in some trading platforms with fractional pips, this can be the 5th decimal point, for example 1.23456. In some currency pairs, the pip can refer to the 2nd decimal place, for example 89.84.
The most commonly traded currencies include the US dollar, the Great British pound, the euro, the Japanese yen, the Swiss franc, the Canadian dollar and the Australian dollar.
Due to international time differences, the forex market is open 24 hours a day, 6 days a week.
Ensure that you read the fine print of any promotional offer closely and also check out the platform's features and fees.
Trading forex is quite complex and features a large number of risks, so ensure that you do some research before trading forex.
This is a trade that is opened and closed during the same trading day.
An overnight position is a forex trade that is still open at the end of normal trading hours (5pm AEST).
This is a conditional order that is designed to minimise your risk when trading. It allows you to arrange for a position to be automatically liquidated if it reaches a certain predetermined price.
No. Forex trading is conducted between a global network of banks, institutions and individuals around the world.
The value of currencies can be affected by everything from supply and demand to economic conditions, political conditions, interest rates, inflation and consumer confidence.
Many first-time traders are unaware that forex trading places them at risk of losing more than their initial investment. However, this can and often does occur.
Important information: Powered by Finder.com.au. This information is general in nature and is no substitute for professional advice. It does not take into account your personal situation. This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for most investors. You do not own or have any interest in the underlying asset. Capital is at risk, including the risk of losing more than the amount originally put in, market volatility and liquidity risks. Past performance is no guarantee of future results. Tax on profits may apply. Consider the Product Disclosure Statement and Target Market Determination for the product on the provider's website. Consider your own circumstances, including whether you can afford to take the high risk of losing your money and possess the relevant experience and knowledge. We recommend that you obtain independent advice from a suitably licensed financial advisor before making any trades.
Fusion Markets is built off three basic principles of low prices, support for customers and cutting-edge technology. Find out if the broker delivers on these principles.
Ask price. This is the lowest price at which a trader can buy a currency.
At best. This is an instruction given to a broker to purchase or sell a currency at the best rate currently available in the market.
Base currency. This is the first currency listed in a currency pair. It shows the value of one currency when measured against another, for example AUD/USD.
Bear market. A bear market situation is when prices sharply decline.
Bid price. This is the price at which an investor can sell a currency.
Bull market. This is a market where prices are rising.
Forex. This is an abbreviation of foreign exchange.
Hedging. This involves opening a new position in opposition to an already open position in order to protect against exchange rate fluctuations.
Leverage. Leverage refers to a trader’s ability to control a large amount of money in the foreign exchange markets after only having to invest a small percentage of the overall value of a trade.
Margin. This is the amount you are required to spend to open a trade.
Margin call. This is a warning message when your trading account does not hold sufficient funds to maintain all the positions you have open.
Spread. This is the difference between the bid price and the ask price.
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To make sure you get accurate and helpful information, this guide has been edited by Joelle Grubb as part of our fact-checking process.
Kylie Purcell is the senior investments editor and analyst at Finder. She has completed a Certificate of Securities and Managed Investments (RG146) and specialises in investment products including online brokers, robo-advisors, stocks and ETFs. See full bio
Kylie's expertise
Kylie has written 149 Finder guides across topics including:
Cameron Micallef was a utilities writer for Finder. He previously worked on titles including Smart Property Investment, nestegg and Investor Daily, reporting across superannuation, property and investments. Cameron has a Bachelor of Communication and Media Studies/ Commerce from the University of Wollongong. Outside of work Cameron is passionate about all things sports and travel. See full bio
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Interested in buying currency as an investment? Read our tips on being a forex trader and find out about the strategies that investors use to realise a profit.
Is it legal for an Australian to trade forex through an international broker that is not ASIC regulated?
Finder
KylieJuly 5, 2023Finder
Hi Angus,
It’s not illegal to trade forex with a broker that is not regulated by ASIC but it’s certainly not advised. ASIC regulations ensure you’re protected under Australian laws and have rights as a trader – including the security of your funds and data. They also ensure brokers are held accountable for their actions.
While overseas regulators may do the same, the situation becomes much more complex across borders and you may not be afforded the same protections as local residents. Meanwhile, forex trading platforms that are entirely unregulated are a red flag and should be avoided.
MartinApril 19, 2018
I’m based in England, but my money is in an Australian bank, can I do forex deals from England (online) through an Australian broker? Any gains or losses would go into and out of my Australian account. I currently have no Australian address, but can provide a friends address if necessary. I’m British but hold Australian residency status.
Finder
MayApril 19, 2018Finder
Hi Martin,
Thanks for your inquiry.
When engaging to the international trading in Australia, the general eligibility requirements for personal applicants will include:
– Be over the age of 18
– Have an Australian residential address
– Have a valid contact number
If you’ve already chosen a platform, I would suggest that you contact the provider directly so they can advise about your eligibility based on your circumstance.
Cheers,
May
amarAugust 28, 2017
Sir/Madam,
hello my name is mar and i am from india i’m learning about forex trading for 3 years and thus want to move to australia to do forex trading only. It is possible to migrate to australia to do forex trading only thank you
As finder is a financial comparison website providing general information, it would be best to seek professional advice on your concern.
You may opt to seek help from a Migration Agent to advise you on the type of visa you can apply for and guide you through the process of your application.
I hope this helps.
Cheers!
Maria
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Is it legal for an Australian to trade forex through an international broker that is not ASIC regulated?
Hi Angus,
It’s not illegal to trade forex with a broker that is not regulated by ASIC but it’s certainly not advised. ASIC regulations ensure you’re protected under Australian laws and have rights as a trader – including the security of your funds and data. They also ensure brokers are held accountable for their actions.
While overseas regulators may do the same, the situation becomes much more complex across borders and you may not be afforded the same protections as local residents. Meanwhile, forex trading platforms that are entirely unregulated are a red flag and should be avoided.
I’m based in England, but my money is in an Australian bank, can I do forex deals from England (online) through an Australian broker? Any gains or losses would go into and out of my Australian account. I currently have no Australian address, but can provide a friends address if necessary. I’m British but hold Australian residency status.
Hi Martin,
Thanks for your inquiry.
When engaging to the international trading in Australia, the general eligibility requirements for personal applicants will include:
– Be over the age of 18
– Have an Australian residential address
– Have a valid contact number
If you’ve already chosen a platform, I would suggest that you contact the provider directly so they can advise about your eligibility based on your circumstance.
Cheers,
May
Sir/Madam,
hello my name is mar and i am from india i’m learning about forex trading for 3 years and thus want to move to australia to do forex trading only. It is possible to migrate to australia to do forex trading only thank you
Hey Mar,
Thank you for reaching out to us.
You may find useful information on our page on Australian Immigration Guide.
As finder is a financial comparison website providing general information, it would be best to seek professional advice on your concern.
You may opt to seek help from a Migration Agent to advise you on the type of visa you can apply for and guide you through the process of your application.
I hope this helps.
Cheers!
Maria