Forex trading has become a popular way of investing in Australia. With the high leverage offered in the currency market, traders can potentially make large profits. However, to be successful in Forex trading, one needs to have an excellent trading platform and broker. In this article, we will discuss the top 5 Australian Forex brokers for beginner traders.
1. Pepperstone
Pepperstone is an Australian-based Forex broker that offers a user-friendly trading platform. The broker has won multiple awards for its excellent customer service and trading platform. Pepperstone offers over 70 currency pairs, including major, minor, and exotic pairs.
The broker offers low spreads and has no commission charges for standard accounts. Pepperstone also offers a demo account that beginner traders can use to practice trading without risking their money. The demo account is also an excellent opportunity to test the broker’s trading platform and customer service.
2. IG Markets
IG Markets is a well-known Forex broker in Australia that offers a wide range of trading instruments, including Forex, CFDs, and Indices. The broker offers a user-friendly trading platform that is suitable for both beginner and advanced traders.
IG Markets offers low spreads and commission charges, making it affordable for beginner traders. The broker also offers a demo account that beginner traders can use to practice trading before investing real money. IG Markets also has excellent customer service, which is available 24/7.
3. CMC Markets
CMC Markets is a well-established Forex broker in Australia that offers a range of trading instruments, including Forex, CFDs, and Indices. The broker offers a user-friendly trading platform that is suitable for beginner traders.
CMC Markets offers low spreads and commission charges, making it affordable for beginner traders. The broker also offers a demo account that beginner traders can use to practice trading before investing real money. CMC Markets also has excellent customer service, which is available 24/7.
4. AxiTrader
AxiTrader is an Australian-based Forex broker that offers a user-friendly trading platform. The broker offers over 80 currency pairs, including major, minor, and exotic pairs.
AxiTrader offers low spreads and has no commission charges for standard accounts. The broker also offers a demo account that beginner traders can use to practice trading without risking their money. AxiTrader also has excellent customer service, which is available 24/7.
5. ThinkMarkets
ThinkMarkets is an Australian-based Forex broker that offers a user-friendly trading platform. The broker offers over 35 currency pairs, including major and minor pairs.
ThinkMarkets offers low spreads and has no commission charges for standard accounts. The broker also offers a demo account that beginner traders can use to practice trading without risking their money. ThinkMarkets also has excellent customer service, which is available 24/7.
Conclusion
Choosing the right Forex broker is crucial to the success of a beginner trader. The top 5 Australian Forex brokers for beginner traders are Pepperstone, IG Markets, CMC Markets, AxiTrader, and ThinkMarkets. These brokers offer a user-friendly trading platform, low spreads, and excellent customer service. Beginner traders can also use a demo account to practice trading before investing real money.
