Broker Reviews — Australia 2026
Find the Right Broker for the Way You Trade
Every broker on this page has been tested with a real funded account by the KolaTrading team. We measure live spreads, process real withdrawals, and rate execution quality — not marketing claims. All ASIC brokers hold a valid Australian Financial Services Licence.
KolaTrading Picks
Top-Rated Brokers — May 2026
PP
A$0
Min. Deposit
0.09 pips
EUR/USD (Razor)
A$3/side (cT)
Commission
MT4/MT5/cT/TV
Platforms
Spreads4.8
Regulation4.9
Execution4.8
Platforms4.7
Support4.6
Why we rate it #1: Australian-founded with 16 years of operation, Pepperstone delivers the best overall package for 2026 — Razor spreads from 0.0 pips, four platforms including TradingView, 8 global licences, no minimum deposit, and phone support. The Active Trader Program rewards high-volume traders with daily cash rebates. Weaker on research compared to IG Markets.
IG
A$0
Min. Deposit
0.86 pips
EUR/USD (Std)
None (CFD)
Commission
IG/MT4/TV/L2
Platforms
Research5.0
Regulation5.0
Markets5.0
Platforms4.8
Support3.8
Why we rate it highly: FTSE 100 listed, 52-year track record, and the widest market range of any broker at 18,000+. Zero-commission US and AU share trading since Jan 2026. Best-in-class research and education. The drawbacks: CFD spreads (0.86 pips) are wider than ECN specialists, and support wait times during volatile periods can be long.
IC
A$200
Min. Deposit
0.08 pips
EUR/USD (Raw)
A$3/side (cT)
Commission
MT4/MT5/cTrader
Platforms
Spreads4.9
Regulation4.7
Execution4.8
Platforms4.5
Support4.1
Why we rate it highly: IC Markets posts the tightest raw EUR/USD spreads we measure — averaging 0.08 pips during peak London hours. True ECN execution with no dealing desk is the gold standard for scalpers. AUD base account, PayID funding. Weaknesses: no TradingView, no phone support, dated interface. Not suited to beginners.
FP
A$100
Min. Deposit
0.12 pips
EUR/USD (Raw)
A$3/side ★
Commission
MT4/5/cT/TV/IRESS
Platforms
Spreads4.8
Platforms4.9
Execution4.8
Instruments4.7
Regulation4.4
Why we rate it highly: FP Markets is the lowest all-in cost major ECN broker — A$3/side versus A$3.50 at Pepperstone and IC Markets on MT4. The IRESS platform is unique: genuine DMA share trading on ASX alongside forex CFDs. Five platforms total, 10,000+ instruments. Trustpilot score is exceptionally strong (10,000+ reviews).
All Reviewed Brokers
More Brokers We’ve Tested — 10 Further Reviews
A$0
Min. Deposit
~0.0 pips
EUR/USD (Zero)
A$2.25/side
Commission
MT4/MT5/cT/TV
Platforms
The lowest-cost ECN in the ASIC space. Zero account at A$2.25/side (A$4.50 round-turn) undercuts every major rival, with PayID funding and no minimum deposit. Research is thin and the brand is younger than the majors.
A$50
Min. Deposit
~0.0 pips
EUR/USD (Raw)
A$3/side
Commission
MT4/MT5/ProTrader
Platforms
TradingView charting baked into the broker. The ProTrader platform pairs near-zero raw spreads with TradingView-powered charts and a low A$50 entry. Confirm you’re onboarded under the ASIC entity, as Vantage runs several offshore arms.
A$0
Min. Deposit
~0.1 pips
EUR/USD
US$2/lot
FX Commission
TWS/IBKR/Web
Platforms
The professional’s choice for global market access. NASDAQ-listed with access to 150+ markets in 30+ countries and rock-bottom share commissions. The Trader Workstation platform is powerful but has a steep learning curve — not for beginners.
A$50
Min. Deposit
1.0 pip
EUR/USD
None (spread)
Commission
eToro Platform
Platforms
The social and copy-trading leader. CopyTrader lets you mirror experienced traders automatically, and the platform is genuinely beginner-friendly. Spreads are wider than ECN brokers, and the proprietary platform lacks MT4/MT5.
A$0 (Std)
Min. Deposit
~0.1 pips
EUR/USD (Zero)
A$3.50/side
Commission
ThinkTrader/MT4/5/TV
Platforms
Award-winning proprietary platform. ThinkTrader bundles TradingView charts and the Trader’s Gym backtesting tool, backed by a 4,000+ instrument range. The ThinkZero commission is mid-pack and there’s no cTrader.
A$100
Min. Deposit
~0.1 pips
EUR/USD (Raw)
A$3.50/side
Commission
MT4/MT5/TradingView
Platforms
Native TradingView + the largest regulated crypto range. 250+ crypto CFDs under ASIC regulation, plus a free TradingView Pro subscription and Capitalise.ai automation. Research is thin and there’s no cTrader or PayID.
A$200
Min. Deposit
~1.0 pip
EUR/USD
None (spread)
Commission
Plus500 Platform
Platforms
Simple, clean, commission-free CFDs on 2,800+ instruments. LSE-listed with a polished proprietary platform that suits casual traders. Additional fees may apply. The spread-only model is wider than ECN, and there’s no MT4/MT5. 80% of retail CFD accounts lose money.
A$100
Min. Deposit
~0.9 pips
EUR/USD (fixed)
None (fixed)
Commission
MT4/MT5/AvaTradeGO
Platforms
Best education + the unique AvaProtect trade insurance. Seven global licences, fixed predictable spreads, and the best learning library we’ve reviewed. The fixed spread is wider than ECN, and there’s a A$50/month inactivity fee after 3 months.
A$200
Min. Deposit
~0.1 pips
EUR/USD (GO Plus+)
A$2.50/side
Commission
MT4/MT5/cT/TV
Platforms
A quietly reliable ECN with a 19-year ASIC record. GO Plus+ at A$2.50/side is among the lowest commissions in the ASIC space, plus a rare four-platform lineup including cTrader and TradingView. No FCA licence; research is basic.
US$100
Min. Deposit
~0.3 pips
EUR/USD (Raw)
A$3.50/side
Commission
MT4/MT5/cT/Edge
Platforms
⚠ Not ASIC-regulated. A well-established London broker with four platforms and solid execution, but Australian clients are not covered by ASIC. Without an AFSL there is no AFCA dispute access or local client-money protection — a key consideration for AU traders.
Best for Forex Trading
Ranked by raw spread tightness, ECN execution and platform quality
#1ICIC MarketsTightest raw spreads · 0.08 pips avg · True ECN · 34ms execution4.6›
#2PPPepperstone0.09 pips avg · TradingView + cTrader · Active Trader rebates4.7›
#3FMFusion MarketsLowest cost: A$2.25/side · ~0.0 pip raw · A$0 min deposit4.5›
#4FPFP MarketsA$3/side · 0.12 pips avg · IRESS DMA · 29ms execution4.5›
Best for CFD & Multi-Asset Trading
Ranked by instrument range, platform quality and overall trading conditions
#1IGIG Markets18,000+ markets · Zero-commission shares · FTSE 100 listed4.6›
#2PPPepperstone1,350+ CFDs · 4 platforms · No minimum deposit4.7›
#3TMThinkMarkets4,000+ instruments · ThinkTrader platform · Trader’s Gym4.3›
Best for Beginners
Ranked by education quality, ease of use and account accessibility
#1AVAvaTradeBest education (AvaAcademy) · AvaProtect insurance · 7 licences4.2›
#2IGIG MarketsIG Academy · A$0 min · Demo account · 52-year track record4.6›
#3eTeToroCopyTrader · Social platform · A$50 min · Beginner-friendly4.3›
Best Low-Cost Brokers
Ranked by all-in trading cost per lot (spread + commission)
#1FMFusion MarketsA$4.50 round-turn · Lowest ECN commission in the ASIC space4.5›
#2GOGO MarketsA$5 round-turn · 19-year ASIC record · cTrader + TradingView4.1›
#3FPFP MarketsA$6 round-turn · 5 platforms · 10,000+ instruments4.5›
Best for Crypto CFDs
Ranked by crypto CFD range, regulation and execution under ASIC
#18CEightcap250+ crypto CFDs · Largest regulated range · Native TradingView4.3›
#2eTeToroCopy trading + crypto · Social platform · A$50 min deposit4.3›
Best TradingView Brokers
Brokers with native TradingView integration for direct execution from charts
#18CEightcapNative TradingView + free Pro subscription · 250+ crypto CFDs4.3›
#2PPPepperstoneTradingView integration · 4 platforms · #1 overall4.7›
#3VTVantage MarketsProTrader (TradingView-powered) · A$50 min · Raw ECN4.4›
#4GOGO MarketsTradingView + cTrader + MT4 + MT5 · Rare 4-platform lineup4.1›
Side by Side
Quick Comparison — All Reviewed Brokers
| Broker | Score | Min Dep | EUR/USD | Commission | Platforms | ASIC | Review |
|---|---|---|---|---|---|---|---|
| Pepperstone | 4.7 | A$0 | 0.09 pips | A$3/side (cT) | MT4/MT5/cT/TV | ✓ | Read → |
| IC Markets | 4.6 | A$200 | 0.08 pips | A$3/side (cT) | MT4/MT5/cTrader | ✓ | Read → |
| IG Markets | 4.6 | A$0 | 0.86 pips | None (CFD) | IG/MT4/TV/L2 | ✓ | Read → |
| FP Markets | 4.5 | A$100 | 0.12 pips | A$3/side | MT4/5/cT/TV/IRESS | ✓ | Read → |
| Fusion Markets | 4.5 | A$0 | ~0.0 pips | A$2.25/side | MT4/MT5/cT/TV | ✓ | Read → |
| Vantage Markets | 4.4 | A$50 | ~0.0 pips | A$3/side | MT4/MT5/ProTrader | ✓ | Read → |
| Interactive Brokers | 4.4 | A$0 | ~0.1 pips | US$2/lot | TWS/IBKR/Web | ✓ | Read → |
| eToro | 4.3 | A$50 | 1.0 pip | None (spread) | eToro Platform | ✓ | Read → |
| ThinkMarkets | 4.3 | A$0 (Std) | ~0.1 pips | A$3.50/side | ThinkTrader/MT4/5/TV | ✓ | Read → |
| Eightcap | 4.3 | A$100 | ~0.1 pips | A$3.50/side | MT4/MT5/TradingView | ✓ | Read → |
| Plus500 | 4.2 | A$200 | ~1.0 pip | None (spread) | Plus500 Platform | ✓ | Read → |
| AvaTrade | 4.2 | A$100 | ~0.9 pips | None (fixed) | MT4/MT5/AvaTradeGO | ✓ | Read → |
| GO Markets | 4.1 | A$200 | ~0.1 pips | A$2.50/side | MT4/MT5/cT/TV | ✓ | Read → |
| FxPro | 4.1 | US$100 | ~0.3 pips | A$3.50/side | MT4/MT5/cT/Edge | ⚠ | Read → |
★ Lowest commission among major ECN brokers · Spread data from live testing, May 2026 · ⚠ FxPro is not ASIC-regulated — Australian clients are not covered by an AFSL
How KolaTrading Reviews Brokers
Every review on this page follows the same process. We open a real funded account, trade across multiple sessions, and test every aspect of the broker’s offering before writing a word.
Open a Live Account
We fund a real account and complete the full KYC/verification process.
30-Day Spread Testing
Live spreads measured across London, NY and Sydney sessions over 30 days.
Execution Quality
Order fills, requotes, slippage and speed tested during news and normal conditions.
Real Withdrawal
We process a real AUD withdrawal to our bank account and record the time taken.
Support Testing
We contact support via live chat, phone and email with real questions and time responses.
Real User Analysis
We analyse independent reviews from forums, Trustpilot and ProductReview.com.au.
Frequently Asked Questions
How do I know if a broker is safe for Australian traders?
All ASIC-regulated brokers on this page hold a valid Australian Financial Services Licence (AFSL). Verify any licence at connectonline.asic.gov.au. Key protections include client fund segregation, negative balance protection, and access to AFCA for dispute resolution. Non-ASIC brokers (such as FxPro) are clearly marked with a ⚠ warning.
What is the difference between a raw spread and a standard account?
A raw spread account offers the tightest possible spreads direct from liquidity providers (sometimes 0.0 pips on EUR/USD), but charges a per-trade commission — typically A$2.25–3.50 per side. A standard account has no commission, but the spread is wider (usually 0.8–1.2 pips) to cover the broker’s costs. For active traders, the raw account is almost always cheaper overall.
Are your broker reviews paid for or independent?
Our review scores and rankings are based entirely on our independent live-account testing — no broker pays to be ranked higher. We do receive affiliate commissions when readers open accounts via our links, which funds our testing. Brokers cannot buy a higher score or suppress a negative review.
Which broker has the lowest fees for Australian traders in 2026?
For active forex traders, Fusion Markets has the lowest all-in commission at A$2.25 per side (A$4.50 round-turn), followed by GO Markets at A$2.50/side and FP Markets at A$3.00/side. For share investing, IG Markets offers zero-commission US and AU shares. For beginners wanting a simple spread-only account, Pepperstone’s Standard or IG’s CFD account are solid choices.
How often are these reviews updated?
We review and update broker scores at least quarterly. Spread data is refreshed monthly using live measurements. When a significant event occurs — a regulatory change, fee update, platform addition or notable user complaint trend — we update the relevant review immediately. Each review page shows its last-updated date.