Claire Maumo wears multiple hats. She is a leading crypto and blockchain analyst, a market dynamics expert, and a seasoned financial planner. Her blend provides a unique combination that she leverages to offer expert analysis of economic and market dynamics. Her pieces deliver a holistic approach to the game, building your confidence and securing your financial future. Follow her for a comprehensive approach to mastering your trading journey.
Fact checked
Advertising Disclosure
We may receive compensation from our partners for placement of their products or services, which helps to maintain our site. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn’t influence our assessment of those products.
Forex is one of the most popular activities in the Australian financial space. With high leverage ratios, Aussie traders can effectively manage larger positions with small capital, hoping for good returns. However, using leverage in forex carries significant risks, which you must be aware of to plan accordingly.
Having the best broker is crucial when exploring high-risk activities like leverage trading. If you are looking for an option offering higher leverage ratios, we are here to help. Below, we share a list of the best high-leverage forex brokers in Australia. Plus, we will offer additional guidance and advice to ensure you are ready to explore this trading method.
List of the Best High-Leverage Forex Brokers
- Pepperstone – Overall Best
- Plus500* – Best For CFD Traders
- FP Markets – Top Option For Professional AU Forex Traders
- AvaTrade– Beginner-Friendly Option
- FxPro – Best For MetaTrader Users
Note: 82% of retail investor accounts lose money when trading CFDs with this provider. This information is NOT relevant to EU residents who are to be serviced by EU subsidiaries of the Plus500 Group, such as Plus500CY Ltd, authorised by CySEC (Reg. 250/14). Different regulatory requirements apply in Europe such as leverage limitations and bonus restrictions.
In This Guide
Compare Australian High-Leverage Forex Brokers
Coming up with this list of the best high-leverage forex brokers in Australia was a lengthy and overwhelming endeavour. Hundreds of hours were spent on this process, as we left no stone unturned. We started by identifying as many ASIC-regulated high-leverage brokers as possible. Then, we conducted numerous tests and comparisons on them, considering elements such as security, demo account, asset offerings, charges, support service, and more. Only those that met our specifications were shortlisted for the next procedure.
We then proceeded to Google Play, the App Store, and Trustpilot, where we analysed hundreds of user testimonials. This helped us understand each broker’s strengths and weaknesses from a user perspective. We were also able to remain unbiased while making recommendations to our readers.
Let’s explore our comparison table below, which shows the key features of our top high-leverage forex brokers in Australia. Hopefully, it will help you make the best choice for your forex trading needs.
| Best High Leverage Forex Brokers Australia | License & Regulation | Support Service | Software | Payment Method | Demo Account |
|---|---|---|---|---|---|
| Pepperstone | ASIC, FSCA, FCA, DFSA, CySEC, CMA, SCB, BaFin | 24/7 | TradingView, MT4, MT5, cTrader, Pepperstone Trading Platform, Social trading | Visa, Mastercard, Bank transfer, Neteller, Skrill, PayPal | Yes |
| Plus500* 82% of retail investor accounts lose money when trading CFDs with this provider. | ASIC, MAS, FCA, FMA, CySEC | 24/7 | Plus500 CFD | Visa, MasterCard, PayPal, Skrill, Bank transfer | Yes |
| FP Markets | FCA, FSCA, ASIC, CMA, CySEC, FSA | 24/7 | MT4, MT5, TradingView, cTrader, WebTrader, Mobile App, Copy Trading | Credit/debit cards, Neteller, Skrill, Bank transfer, Google Pay, Apple Pay | Yes |
| AvaTrade | FMA, FCA, FSCA, CBI, CySEC, PFSA, ASIC, B.V.I FSC, FSA, ADGM, ISA | 24/5 | WebTrader, AvaOptions, AvaTrade App, Mac Trading, MT4, MT5, Automated Trading | Credit/debit cards, Neteller, Skrill, Wire transfer, WebMoney | Yes |
| FxPro | CySEC, FSCA, FCA, ASIC | 24/5 | cTrader, WebTrader, MT4, MT5 | Bank transfer, broker to broker, Skrill, Neteller, PayPal, Visa, Maestro, Mastercard | Yes |
Brokers Overview
Many traders in Australia choose brokers based on various elements for an exciting experience. Among the features they consider during research are the available assets and affordability. This helps them plan, budget, and strategise accordingly before investing real money.
Since the procedures for comparing brokers based on these features can be lengthy, we did all the legwork for you. Below, we share two tables briefly highlighting the expected trading and non-trading charges. You will also be familiar with the securities offered by our recommended brokers so you can make informed choices.
Fees
| Best High Leverage Forex Brokers Australia | Minimum Deposit Requirement | Commission/ Spreads | Deposits/ Withdrawals | Inactivity Fee |
|---|---|---|---|---|
| Pepperstone | A$0 | From 0.0 pips | Free | A$0 |
| Plus500* | A$100 | From 0% | Free | A$10 monthly |
| FP Markets | From 0.0 pips | A$100 | Free deposits | None |
| AvaTrade | A$100 | 0.13% | Free | A$50 quarterly |
| FxPro | A$100 | From 0.0 pips | Free | A$10 monthly |
Note: 82% of retail investor accounts lose money when trading CFDs with this provider. This information is NOT relevant to EU residents who are to be serviced by EU subsidiaries of the Plus500 Group, such as Plus500CY Ltd, authorised by CySEC (Reg. 250/14). Different regulatory requirements apply in Europe such as leverage limitations and bonus restrictions.
Assets
| Best High Leverage Forex Brokers Australia | Stocks | Forex | Crypto | Commodities | Indices | ETFs | Options |
|---|---|---|---|---|---|---|---|
| Pepperstone | Yes | Yes | Yes | Yes | Yes | Yes | No |
| Plus500* | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| FP Markets | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| AvaTrade | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| FxPro | Yes | Yes | Yes | Yes | Yes | Yes | No |
Note: 82% of retail investor accounts lose money when trading CFDs with this provider. This information is NOT relevant to EU residents who are to be serviced by EU subsidiaries of the Plus500 Group, such as Plus500CY Ltd, authorised by CySEC (Reg. 250/14). Different regulatory requirements apply in Europe such as leverage limitations and bonus restrictions.
Our Expert Opinions About the Best High-Leverage Forex Brokers
Before selecting a broker from our recommendations list, we advise you to thoroughly analyse them and ensure your choice aligns with your trading needs. We help you familiarise yourself with these brokers’ features by sharing mini reviews below. These are based on our personal experiences, so trust that the information shared here is accurate.
1. Pepperstone – Overall Best
We tested and compared many leverage brokers in Australia, and Pepperstone is among those that impressed us. From our experience, this broker has a user-friendly and modern design interface, which we believe will excite any user’s experience. Moreover, It operates seamlessly on mobile devices, and forex trading exposes you to over 90 currency pairs. We also discovered an additional 1200+ CFD instruments you can use for your portfolio diversification. Note that forex trading at this broker attracts low spreads from 0.0 pips, and there is no minimum deposit requirement.
When it comes to leverage, Pepperstone maintains the standard ratio of 1:30 for retail traders. However, professional traders can explore higher limits up to 1:500 on the Pepperstone Pro platform. The broker is also among the most secure, with multiple regulations from authorities such as ASIC, BaFin, CMA, CySEC, DFSA, FCA, and SCB. Its other powerful platforms, including TradingView, MT4, MT5, and cTrader, have quality resources for thorough market analysis.
Pepperstone
✔800+ instruments
✔No minimum deposit requirement
Pros & Cons
Fees
Trading Assets
Pros
- No minimum deposit requirement for Australian clients
- Low forex spreads from 0.0 pips on major currency pairs
- Lists over 90 currency pairs to explore
- Quality learning and research materials on its powerful platforms
- High leverage limit of up to 1:500 for professional clients
Cons
- Its additional securities are limited compared to its peers
- No trading on physical securities
We identified numerous fees and costs on Pepperstone. First, from our exploration, we discovered that Pepperstone users are subjected to spreads and commissions that vary depending on market conditions and account type. This platform has two accounts: Standard and Razor. Both are associated with different charges and conditions. For instance, Razor accounts only attract commissions when users trade CFDs on Forex.
Pepperstone also charges overnight funding, which kicks in when a trader holds a position in commodities, equities, indices, metals, or cryptocurrencies overnight after 5 p.m. New York Time. This broker’s overnight funding charges vary depending on different factors, including underlying TomNext rate changes.
But here’s the best thing you can derive from our Pepperstone broker review, especially where fees are involved. Pepperstone doesn’t charge account inactivity fees. Moreover, this platform doesn’t charge a single dime for deposits and withdrawals. Furthermore, this broker has no minimum deposit requirements.
2. Plus500 – Best For CFD Traders
We noticed that Plus500 is among the most trusted high-leverage forex brokers. Besides being highly rated by users, it has registered over 26 million clients across 50+ countries. We tested it and discovered over 2,800 CFD instruments. Among the assets are 60+ currency pairs, which we believe are enough to explore. Retail forex traders can apply leverage of up to 1:30 while enjoying fast trade execution speed. We also like that the broker has no minimum deposit requirement, thus enabling users to start forex trading with any amounts they can afford.
While Plus500 has no third-party platforms, it offers quality and unique market analysis tools for all types of traders. Newbies have a demo account and web platform to explore the currency market. For expert traders, you can trade forex and other assets on its Professional Trading platform, which offers a higher leverage limit of up to 1:300. Other features that made us choose Plus500 for recommendation include low minimum deposit requirement, commission-free trades, adequate learning resources, and more.
Note: 82% of retail investor accounts lose money when trading CFDs with this provider. This information is NOT relevant to EU residents who are to be serviced by EU subsidiaries of the Plus500 Group, such as Plus500CY Ltd, authorised by CySEC (Reg. 250/14). Different regulatory requirements apply in Europe such as leverage limitations and bonus restrictions.
Plus500
✔Available in 50+ countries
✔Easy account registration and setup
Pros & Cons
Fees
Trading Assets
Pros
- Low minimum deposit requirement of £100 for Australian clients
- Low spreads from 0.0 pips on major currency pairs
- Leverage limit for professional clients goes up to 1:300
- A user-friendly and modern design platform
Cons
- No trading of physical assets
- No third-party platforms
One thing we love about Plus500 is that the platform offers most of its services without charging a dime. Moreover, the company practices optimum transparency regarding any costs or charges. While trading on Plus500, we enjoy free deposits and zero internal withdrawal fees.
However, we had to incur reasonable charges, courtesy of the buy/sell spreads. The good thing is this broker lets you choose between dynamic and fixed spreads. We preferred fixed spreads since they allowed us to minimize risk during high volatility periods, especially when we were trading with smaller stakes. But, if you are a fan of swing trading and often deal with higher balances, you can check Plus500’s variable spreads. And don’t worry about paying commissions because Plus500 supports commission-free trades.
Depending on your trading activities on Plus500, you may also incur the following fees and costs:
- Overnight funding: If you open a position and fail to close after a specific cut-off time, otherwise known as the Overnight Funding Time, Plus500 may add or subtract a certain amount of overnight funding from your account. Plus500 uses this formula to determine the exact amount of overnight funding to charge you: Trade Size x Position Opening Rate x Point Value x Daily Overnight Funding %.
- Currency conversion fee: While trading on Plus500, you will incur currency conversion charges every time you dabble with an instrument whose currency denomination differs from your trading account’s currency. During our test, Plus500’s currency conversion fee was up to 0.7% of each trade’s net profit and loss.
- Guaranteed stop order: Plus500 has a unique order type that guarantees the stop loss level even in highly volatile markets. You can use it to minimize losses and maximize returns, but it’ll cost you money. The fee comes in the form of a wider spread.
- Inactivity fee: Suppose your Plus500 trading account stays dormant for over three months. Your company will charge you up to $10 per month. This fee enables Plus500 to cover the costs of maintaining your inactive account.
3. FP Markets – Top Option For Professional AU Forex Traders
Professional clients looking to explore the currency market using high leverage should consider FP Markets. From our analysis, this broker has a user-friendly platform that operates seamlessly on desktop and mobile devices. Forex trading exposes users to over 60 currency pairs, which we believe are adequate enough. Plus, you can diversify your portfolio with 10,000+ securities, including shares, commodities, ETFs, indices, and more. All these securities are accessible with a minimum deposit of only A$100.
We like that FP Markets maintains the standard 1:30 leverage limit for retail forex clients. However, professional traders can enjoy high limits of up to 1:500 on the FP Markets Pro Account. Forex trading attracts low spreads starting from 0.0 pips. And when it comes to market analysis tools, we discovered plenty of resources, including Expert Advisors, MarketWatch, customisable alerts, and more on its MT4 platform tailored for forex trading. Other platforms this broker hosts include the Iress, MT5, cTrader, and TradingView.
FP Markets
✔Free deposits and withdrawals
✔No inactivity fees
Pros & Cons
Fees
Trading Assets
Pros
- Low minimum deposit requirement
- Plenty of trading securities to choose from and diversify your portfolio with
- Low forex trading charges
- Numerous trading platforms to choose from
Cons
- Its social and copy trading feature on the Myfxbook platform is not available for Aussie clients
- No trading of physical assets
The outstanding perks of using FP Markets include free deposits or withdrawals. This broker goes above and beyond by covering all internal bank fees arising from international transfers. Moreover, you can start your journey with a free demo account before switching to a live account. Keep in mind that FP Markets’ minimum deposit requirement is $100.
The other commendable thing is this broker has reduced non-trading costs and charges. Take inactivity fees as an example. Unlike many of its peers, FP Markets doesn’t penalize dormant accounts. So, you can stay logged out of your account for as long as you like without fretting over accumulating fees.
That said, we encountered numerous other FP Markets fees and costs. Although you can open a Standard account, which comes with 0 commissions, you’ll still face variable spreads, starting from 1.0 pips. On the other hand, IRESS, FP Markets’ sophisticated premium platform, has commissions that vary depending on geographical location. IressTrader/ViewPoint also has a mandated $60 fee. Luckily, there are free alternatives like MT4 and MT5, which have no platform fees.
4. AvaTrade – Beginner-Friendly Option
We find AvaTrade to be a user-friendly platform with numerous features that make it suitable for beginners. For instance, it has a user-friendly platform with fast trade execution speed. Any beginner will find the broker easy to navigate without requiring guidance. Moreover, AvaTrade’s app is one of the most highly rated trading apps by users on Google Play, the App Store, and Trustpilot. We believe this will help newbies effectively manage their activities even while on the move using their mobile devices.
We explored this broker’s offerings and discovered over 40 currency pairs for Australian clients. Additional 1250+ assets are also offered for users looking to diversify their portfolios. Besides quality learning resources, we like Avatrade’s AvaSocial and DupliTrade social and copy trading platforms. They allow newbies to interact with other traders, learn from them, and copy potentially profitable trades from the experts. There are also advanced resources like Expert Advisors, trading signals, and more on its MT4 and MT5 platforms. You simply need to create an account and deposit at least A$100 to enjoy these features.
AvaTrade
✔Low minimum deposit requirement
✔Features automated trading on its copy trading platform
Pros & Cons
Fees
Trading Assets
Pros
- Low minimum deposit requirement for Australian clients
- Has a highly rated AvaTradeGO app for newbies
- Hosts a virtually funded demo account to get started with
- Quality learning and market analysis resources
Cons
- The broker charges A$50 quarterly inactivity fee after only three months
- Accessing the DupliTrade platform requires a high minimum deposit of A$2,000
AvaTrade charges low fees for trading and non-trading services. When we started with the broker, we found the first deposit requirement of $100 or its equivalent to be low. Plus, all deposits and withdrawals at AvaTrade are free.
Commissions and spreads at AvaTrade are also low in our opinion. For instance, trading forex attracts low fees from 0.9 pips on major currency pairs. We also tried trading stocks and incurred low charges from 0.2 pips.
On the downside, AvaTrade charges a high inactivity fee of $50/£50/€50. This depends on your account currency. The fee applies should your account remain inactive for over three months. Plus, there is an annual administration fee of $100/€100/£100 after 12 months of inactivity. Other fee to expect with this broker is overnight charges for positions left overnight. Its margin rates are also low, from 3.33%, depending on your jurisdiction.
It is important to note that while AvaTrade offers social trading, accessing this feature via the DupliTrade and ZuluTrade platforms can be costly for low-budget traders. You are required to deposit at least $2,000 for DupliTrade and $200 for ZuluTrade platforms.
5. FxPro – Best For MetaTrader Users
While there are many high leverage forex brokers hosting the MetaTrader platforms, FxPro stands out in this category. This is primarily because its MT4 and MT5 platforms host quality trading resources for market analysis. We discovered Expert Advisors, chart trading, technical indicators, and more. Plus, you can use the platforms to trade forex and an additional 2,100 CFD instruments, including shares, commodities, and indices. Forex pairs are more than 70, and trading them attracts low fees starting from 0.0 pips.
Besides the MT4 and MT5 platforms, FxPro hosts the cTrader platform, which also has advanced resources. We like that it operates seamlessly on all internet-enabled devices, ensuring users never miss out on any opportunities. Micro lot trading is supported, and you can get started with as little as A$100. Simply test the broker using its demo account to ensure it aligns with your needs before making a commitment. Note that FxPro maintains a leverage limit of 1:30 for retail clients and 1:500 for professionals.
FxPro
✔24/7 multilingual support is available
✔No deposit or withdrawal fees
Pros & Cons
Fees
Trading Assets
Pros
- Low minimum deposit requirement
- Low forex trading fees
- A user-friendly and modern design platform
- Quality learning and market analysis tools
- Lists 70+ currency pairs to trade
Cons
- No trading of physical assets
- Its inactivity fee kicks in after only 6 months
After signing up with FxPro, we discovered several key aspects. First, we had to adhere to FxPro minimum deposit requirements. Presently, this broker recommends that you fund your account with at least $1,000, but you can deposit as little as $100. And don’t worry about any charges. Deposits and withdrawals are free on this trading platform.
That aside, if you choose the cTrader platform and trade FX pairs of spot metals, expect to pay a commission, but it’s reasonable. This broker charges $35 for every $1 million traded. Additionally, if you keep a position open overnight, you will incur swap/rollover charges. FxPro will charge your account automatically at 21:59 (UK time).
FxPro has a cost calculation tool you can use to determine every available instrument’s quarterly charges. You should check it out.
Leverage Trading in Australia
In Australia, leverage trading is popular, and many brokers offer it to users. You can apply this strategy to various assets, including forex, shares, commodities, and other CFD instruments. For instance, for a broker that offers a 30:1 leverage ratio on currency trading. In this case, it means that you can control a trade worth A$30 with only A$1 as the available margin or capital.
ASIC oversees leverage trading Australia, ensuring brokers adhere to its stringent regulations. These include restrictions on the leverage limits for retail clients, thus protecting them from high-risk trading, especially in volatile markets. For forex trading, the leverage limit goes up to 1:30 for retail traders. For those with professional accounts, the limit can go as high as 1:2000, depending on the broker.
To maximise your chances of success with leverage trading, select a suitable broker like the ones we recommend. Also has a solid plan and strategy before opening leveraged positions. You can calculate your potential gains or losses while considering applicable taxes. Note that over 76% of retail traders lose money in this activity, and our guidance will help you add more excitement to our activities while increasing your chances of success.
How to Choose the Right High-Leverage Forex Broker
Choosing the right high-leverage forex broker in Australia is crucial if you want to enjoy your experience in the financial space. You must conduct thorough market research and compare as many options as possible based on various elements. These include:
Security
Asset Offerings
Charges
Platform Performance
Support Service
User Recommendations
In the Australian financial landscape, there are many legit high-leverage forex brokers. However, fraudulent options also exist, looking for innocent traders to scam. To ensure you do not fall victim to scammers, ensure the broker you select is licensed and regulated by the Australian Securities and Investment Commission (ASIC). Such regulated forex brokers secure your funds in segregated accounts and also offer favourable trading conditions like leverage limits and more.
Additionally, confirm whether a broker is highly encrypted and offers additional safety measures like strong passwords, face ID, and more. This will ensure your personal and financial data is free from unauthorised access.
Choose a high-leverage broker with your preferred security. In addition to confirming the available currency pairs, check the availability of additional securities like stocks, ETFs, commodities, cryptos, and more. This gives you an opportunity to explore other markets and identify the best options for your portfolio diversification.
Trading and non-trading charges differ among brokers in Australia. Therefore, when considering a high-leverage forex broker, check the applicable fees. You do not want to settle with a broker that will make you dig deep into your pocket. Instead, ensure the broker fits your budget by confirming commissions/spreads, minimum deposit requirements, inactivity fees, financing costs, and more. Also, there shouldn’t be any hidden charges to avoid surprises once you have committed.
The best high-leverage forex broker in Australia should have a user-friendly and modern design platform. Plus, its execution speed should be fast to ensure you never miss out on any potentially profitable opportunity. If you are always on the move, consider a broker with a mobile app that works efficiently on both Android and iOS devices. Most importantly, check the availability of market analysis and tools, as this guarantees quality support for strategy development.
For beginners, your broker should provide plenty of learning materials and a demo account. This way, you can boost your skill level and test a broker’s performance in a risk-free environment.
Success in trading forex using Australia’s high-leverage brokers is not easy. You will encounter various challenges along the way and require the best support to tackle them. A broker backed up with experienced and skilled professionals is worth committing to as this guarantees quality assistance. Ensure the team is very responsive, and their availability aligns with your trading schedule. This is whether they operate 24/7 or five days a week. The channels they communicate with should also be convenient for you. For instance, our recommended brokers are available via phone, email, and live chat.
Besides considering the elements above, visit Google Play, the App Store, and Trustpilot to analyse user testimonials. This will give you a clear view of brokers’ offerings from a user perspective. As a result, you will be able to make sound decisions that align with your needs and risk tolerance.
How to Register an Account With High-Leverage Forex Broker
Now that you know the top high-leverage forex brokers in Australia, do you know how to sign up for their accounts? With ASIC-regulated brokers like the ones we recommend above, the procedures are similar, and we share them below for proper guidance.
Step 1: Visit a high leverage forex broker’s website
Step 2: Create a trading account
Step 3: Participate in account verification
Step 4: Make a deposit
Step 5: Trade forex
You first need to visit a broker’s website to create an account. If you have considered an option from our recommendations list, we share the brokers’ links for quick access. On the website, start by reading and understanding the applicable terms of service to ensure you are on the same page. Also, install the broker’s app on your iOS or Android mobile device for efficient trade management while on the move.
Once you have completed step 1 above, click the sign-up, register, or join now button to start creating your account. A form will pop up for you to fill out your personal details, including your name, phone number, email, source of income, location, preferred currency, and more. You will also be required to create a unique username and password as an added layer of safety to your account. Ensure all the information you provide is accurate to ensure a streamlined account creation process.
Before your account is fully activated, your broker will require you to verify your identity and location. This is a standard procedure for all ASIC-regulated brokers to ensure the online financial space remains free from imposters and money laundering activities. You will be asked to share a copy of your ID card, passport, or driver’s licence to verify your location. You will also share a copy of a recent utility bill or bank statement as proof of location.
Depending on the broker, the verification procedure may take up to 2 days. Once your account is fully activated, you should receive an email notification. At this point, you are free to make a deposit using either of the supported payment methods. For our recommendations, you can make deposits using credit/debit cards, e-wallets, and bank transfers. Simply ensure you can afford the broker’s required minimum deposit for seamless transactions.
Your broker will automatically redirect you to its listed securities once your deposit is confirmed. Choose your preferred currency pairs and trade size. If you want to explore leverage trading, select your preferred limit based on your risk tolerance. The limits vary based on your broker and the asset you trade. So, ensure you only risk what you are comfortable losing.
Since the currency market carries risks, we advise you to apply risk management controls like stop-loss and take-profit orders. For beginners, start leverage or margin trading using your broker’s demo accounts. These accounts are risk-free and offer an opportunity to gauge your skill level before risking real money.
Final Thoughts
Applying high leverage while trading forex allows you to manage larger positions with small capital. However, it carries the risk of losing huge amounts of money should a trade work against you. To avoid exposing yourself to this risk, have solid money management. Plus, conduct a thorough market analysis for the best strategies that maximise your chances of success. You do not want to experience margin calls, whereby your broker closes a trade due to a lack of funds to cover potential losses.
For newbies, start small until you are confident in your skill level. Do not use high leverage unless you want to employ a high-risk strategy. You can also consider diversifying your portfolio across different securities to mitigate massive losses. Success in this landscape is all about remaining disciplined, patient and avoiding making decisions based on emotions.
Related Articles: