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Thadeus Geodfrey is an experienced and celebrated writer and self-taught trader specialising in cryptocurrencies and forex. Market analysis, identifying fraudulent brokers, and security are his cup of tea. At BrokerRaters Thadeus develops educational materials and user-guides, offer market insights, ensures our content conforms to the best standards. Join Thadeus to succeed in your trading endeavours.
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I became a forex trader a few decades ago after being inspired by the likes of Christopher Lewis. My reasoning was, if such people can make millions from forex trading, why can’t I? The journey wasn’t easy at first, but I pushed on, and things are different now. I’ve had lots of fun and made a comfortable living from forex trading. What’s my secret, you wonder?
First, I prioritise nonstop learning and improvement. Moreover, I ALWAYS trade with reliable and trustworthy apps. I find the latter crucial since, over the years, I’ve learned that every trader’s success depends on their chosen service provider.
Having said that, today, I will introduce my Australian buddies to trading apps that will help them trade seamlessly and gain immensely from forex trading.
List of the Best Forex Trading Apps
- eToro – Best Forex Trading App for Social Traders
- Pepperstone – Best App for Low-Cost Forex Trading
- Plus500* – Best Forex App for Traders Focusing on CFDs Exclusively
- FP Markets – Best Forex App for MetaTrader Enthusiasts
- AvaTrade – Best Forex Trading App for Beginners
Note: 82% of retail investor accounts lose money when trading CFDs with this provider.
In This Guide
Compare Apps Table
My expert guide will introduce you to 5 outstanding forex trading apps. But you can’t trade with all 5; you just need one or two reliable service providers. I always recommend trading with 1 app only if possible since juggling multiple service providers will make it harder for you to remember passwords and monitor open positions. Plus, it can scatter your attention and undermine your ability to make informed decisions.
Now, let’s address the most important question. How will you identify the best app for forex trading in Australia, not just for anybody, but for YOU? For starters, you need to compare the recommended service providers using the most important factors, from minimum deposit requirements to commissions and spreads. Use the table below to conduct thorough comparisons before proceeding.
| Best Forex Trading App Australia | License & Regulation | Minimum Deposit | Commission & Spreads | Support Service | Software | Payment Method | Demo Account | Money Insurance |
|---|---|---|---|---|---|---|---|---|
| eToro | ASIC, FCA, CySEC, FSCA, SFSA ADGM, MFSA, FSAS, GFSC, SEC | $50 | From 1 pip | 24/5 | eToro investing platform and app, Multi-asset platform, Social Trading, Copy Trader, Smart Portfolios | Credit/ debit card, Bank transfer, Klarna, PayPal, Skrill, Neteller | Yes | Yes |
| Pepperstone | ASIC, CMA, FCA, DFSA, CySEC, SCB, BaFin | $0 | From 0.0 pips | 24/7 | Pepperstone Trading Platform, MetaTrader 4, MetaTrader 5, TradingView,cTrader | Credit/debit cards, PayPal, Skrill, Neteller, Flutterwave | Yes | No |
| Plus500* 82% of retail investor accounts lose money when trading CFDs with this provider | ASIC, CySEC, FRN, Seychelles FSA, FSRA, MAS, DFSA, SCB | $100 | From 1.2 pips | 24/7 | Plus500 CFD | Visa, MasterCard, PayPal, Skrill, Bank transfer | Yes | No |
| FP Markets | FCA, ASIC, MAS, FSCA, CMA, CySEC, FSA | $100 | From 0.0 pips | 24/7 | MT4, MT5, TradingView, cTrader, WebTrader, Mobile App, Copy Trading | Debit/credit card, Neteller, Skrill, Bank transfer, Google Pay, Apple Pay | Yes | No |
| AvaTrade | ASIC, MiFID, FSA, FSC, FSA, FFAJ | $100 | From 0.13% | 24/5 | MetaTrader 4, MetaTrader 5, AvaOptions, AvaTrade App, AvaSocial, DupliTrade, ZuluTrade | Credit/debit cards, E-payments, Wire transfer | Yes | No |
Apps Reviews
After comparing the top forex trading apps in Australia, I’ll now guide you through what each provider offers so you get a clear idea of what to expect. Everything I’m about to discuss in the mini-reviews is factual and based on hours of research and evaluation. I’ve tested each of these apps to ensure my recommendations are as accurate as possible. Enjoy!
1. eToro – Best Forex Trading App for Social Traders
eToro is the best currency trading app for social traders in Australia. Through this app, you can join an ever-growing social trading network that boasts over 35 million users as of 2025. This network will help you refine your knowledge and gain the experience you need to become a better trader.
While interacting with your peers on eToro’s social network, you can also copy some of the most profitable traders today. Finding the right people to copy is very easy since the broker has provided top-notch tools for searching for top investors and filtering results based on aspects like gain and risk score.
If you are already a seasoned trader with a rich history of consistent profits, eToro is willing to give you juicy rewards. There’s no catch; all you have to do is share your wisdom and encourage other traders to copy your trades. That will enable you to join the Popular Investor program and earn money whenever your trades are copied.
I also recommend this app because it has an unmatched product range. While browsing through it, I discovered common assets like CFDs on forex pairs, commodities, and stocks. But here’s what I truly loved: unlike many of the other apps, eToro offers investment products like company shares and cryptocurrencies.
eToro
✔ User-friendly trading platform
✔ Over 6000 trading instruments
Pros & Cons
Fees
Trading Assets
Pros
- Vast social network with tens of millions of traders
- Over 7,000 financial instruments
- Investment assets available, including stocks and shares
- Clean, intuitive interface
- Available on Android and IOS
- Supports copy trading
Cons
- Higher forex spreads than other top providers
- $10 monthly inactivity fee
eToro has a transparent fee structure that is easy to understand and helps you plan accordingly. From our analysis, we discovered the following trading and non-trading eToro fees.
| Trading and Non-Trading Charges | Details |
|---|---|
| Account Opening | $0 |
| Management Fee | $0 |
| From $50, depending on your jurisdiction | 0.6 |
| Commission | From 0% on stocks and ETF trading |
| Spreads | From 1 pip on major currency pairs |
| Deposits and Withdrawals | $5 withdrawal |
| Inactivity | $10 monthly |
| Currency Conversion | 1.5% or 3.0%, depending on the currency or payment method |
| Overnight Funding | Varies based on global market conditions |
| Copy Trading | Free |
2. Pepperstone – Best App for Low-Cost Forex Trading
If you’re a cost-conscious trader who hates wasting money on high fees and charges, the Pepperstone app should be your go-to. The broker has no minimum deposit requirement, so you can start with a small amount, like $10, and test its services before upping your capital.
Trading forex with Pepperstone is highly rewarding for a number of good reasons. First, this broker has numerous currency pairs that have the lowest spreads, from an unmatched 0.0 pips. They include AUD/USD, GBP/USD, and EUR/USD. But there’s a catch: the lowest spreads are for Razor users, so pick your preferred account wisely. Commodities, indices, ETFs, and many other securities are also available on the app.
Some brokers charge transaction fees, but Pepperstone doesn’t. While using the app, you will enjoy free deposits and withdrawals. Plus, whenever life forces you to take an extended break from trading, you’ll always have peace of mind knowing your dormant account won’t attract inactivity fees.
I can’t conclude this mini-review without mentioning Pepperstone’s impressive platforms. Through the app, I was able to access my favourite trading platforms, including MT4 and MT4. I also got the opportunity to leverage TradingView’s advanced charting tools and cTrader’s advanced order capabilities. Check out these platforms today.
Pepperstone
✔24/7 support service
✔User-friendly and navigable platform
Pros & Cons
Fees
Trading Assets
Pros
- No minimum deposit
- Spreads start from 0 pips
- Hosts third-party platforms like MT4 and MT5
- 24/7 customer support
- Robust algo trading options
- Available on IOS and Android
Cons
- Higher spreads on Standard
- Fewer securities than its peers
We find Pepperstone broker to be one of the brokers with transparent fee structures. There are no hidden charges, so what you see displayed on its platform is what you will incur. This makes it easier for you to budget without worrying about overspending.
Let’s discover below some of the trading and non-trading charges at Pepperstone.
| Trading and Non-Trading Charges | Details |
|---|---|
| Account Opening | $0 |
| Management Fee | $0 |
| Minimum Deposit Requirement | From $0, depending on your jurisdiction |
| Commission | From $0.02 on US-listed shares |
| Spreads | From 0.0 pips on its Razor Account |
| Deposits and Withdrawals | Free |
| Inactivity | None |
| Overnight Funding | Varies based on global market conditions |
| Copy Trading | Free |
Note that Pepperstone charges both spreads and commissions. While spreads are charged on all accounts, commissions are only imposed on the Razor Account.
3. Plus500 – Best Forex App for Traders Focusing on CFDs Exclusively
Plus500 is the right app for Australians who trade CFDs exclusively. The app has CFDS on over 2,800 financial securities, including forex. Open a Plus500 account today and get the opportunity to trade over 60 currency pairs, including popular assets like AUD/USD. Limited capital won’t stop you from earning handsome returns since you can use up to 1:30 leverage to increase your gains.
Besides forex pairs, Plus500 has CFDs on everything from indices, commodities, and crypto to shares, ETFs, and options. If, like me, you often mitigate risk exposure by investing in more than one asset, this app will do you a world of good. Not to mention, you’ll have ample opportunity to protect your capital and proceed with effective tools like guaranteed stop, close at profit, and close at loss.
Plus500 is ideal for both novices and experts. If you are a novice, the app’s simple interface will make your first steps incredibly easy and illuminating. Plus, you can use its Trading Academy to gain more knowledge. If you have enough experience, Plus500’s sophisticated charting tools and friendly leverage options will help your career immensely.
Note: 82% of retail investor accounts lose money when trading CFDs with this provider.
Plus500
✔Easy-to-use trading platform
✔No hidden charges
Pros & Cons
Fees
Trading Assets
Pros
- CFDS on thousands of tradable assets
- Sophisticated, easy-to-navigate interface
- Zero transaction fees
- Top-notch risk management tools
- Free online trading academy
- Available on Android and IOS
Cons
- $10 monthly inactivity fee
- Offers CFDs only in Australia
Many traders prioritize brokers they can afford. Since fees vary with a broker, we decided to go through Plus500’s fee structure. Here are some of the trading and non-trading charges to expect when you commit to this broker.
| Trading and Non-Trading Charges | Details |
|---|---|
| Account Opening | $0 |
| Minimum Deposit Requirement | $100 |
| Commission | $0 |
| Spreads | From 0.0 pips on major currency pairs |
| Deposits and Withdrawals | $0 |
| Inactivity | $10 monthly |
| Currency Conversion | Up to 0.7% |
| Overnight Funding | Varies based on trade size |
4. FP Markets – Best Forex App for MetaTrader Enthusiasts
MetaTrader trading platforms are the go-to for many forex traders today for good reasons. Their users enjoy everything from advanced charting and technical analysis tools to automated trading features and customizable interfaces. If you are an ardent fan of MetaTrader, I urge you to sign up with FP Markets.
FP Markets is one of a handful of apps that have full support for MT4 and MT5. MT4 comes with amazing features like a customizable interface and Expert Advisors. MT5 has more advanced features than its counterpart, from 6 pending stop order types and depth of market display to a sophisticated strategy tester and trading robots for scalpers.
While trading any MetaTrader of your choice, you can also harness the power of TradingView and cTrader through the app. Moreover, you’ll have the opportunity to use an account that meets with your needs and preferences. You can pick open a standard account, which has no commission, but its spreads start from 1.0 pips. Conversely, you can go with a Raw account, whose spreads start from 0.0 pips and the commission is $3 per side.
The list of goodies offered by FP Markets doesn’t stop at trading platforms; I discovered many others. For starters, this broker has a sizable collection of free online learning materials, including video courses, podcasts, and webinars. Its support team is also highly knowledgeable and always ready to help out traders at any time of the day or night.
FP Markets
✔Low minimum deposit requirement
✔Hosts numerous learning and market analysis tools
Pros & Cons
Fees
Trading Assets
Pros
- MT4/5 are offered to MetaTrader enthusiasts
- Trading View and cTrader are available
- Zero withdrawal and deposit fees
- No inactivity fees
- Spreads start from 0.0 pips
- Available on Android and IOS
Cons
- The Iress option has a $1,000 minimum deposit
- Higher spreads on Standard
We reviewed the applicable FP Markets fees, and like that the broker has a transparent structure. This allows users to efficiently plan for their activities without worrying about incurring additional costs. There are no hidden charges and no price manipulation with this broker.
| Trading and Non-Trading Charges | Details |
|---|---|
| Account Opening | $0 |
| Management Fee | $0 |
| Minimum Deposit Requirement | From $50, depending on your jurisdiction |
| Commission | From 0% |
| Spreads | From 0.0 pips on major currency pairs |
| Deposits and Withdrawals | Free deposits. Withdrawal fees apply based on the payment method used |
| Inactivity | $0 |
| Overnight Funding | Varies based on global market conditions |
| Copy Trading | Free |
5. AvaTrade – Best Forex Trading App for Beginners
The AvaTrade mobile app’s user-friendly design makes it the best choice for beginners. I had an easy time navigating it and finding whatever I sought, from assets to the company’s information. If you’re a noob, start your journey on this app. It will give you enough opportunity to familiarize yourself with the basics without being overwhelmed.
Before you open a live AvaTrade account, head to the education section and read the guides and tutorials. They’ll introduce you to the basics of online trading. Then, proceed to the Academy section and increase your knowledge base. I discourage everyone from diving into trading without sufficient knowledge because this is one of the reason 90% of traders fail.
Besides, I insist you visit AvaAcademy because it gives you direct access to hundreds of courses and other educational materials from a central location. Learning is simpler here than when using random materials that you’ve downloaded from the internet. Furthermore, after educating yourself, you can gauge your knowledge with the free quizzes offered here.
Not to forget, AvaTrade can help you avoid the immense losses that often plague beginners. This broker has numerous outstanding risk management tools, including AvaProtect. With this tool, you can protect significant capital of up to $1 million.
AvaTrade
✔Regulated by FCA
✔The platform supports algorithmic trading
Pros & Cons
Fees
Trading Assets
Pros
- Simple, beginner-friendly interface
- Free, simple guides and tutorials
- Free online academy with hundreds of materials
- Quick customer support
- Unmatched risk management tools
- Available on Android and IOS
Cons
- High inactivity fees
- Limited financial instruments compared to the rest
Our experts investigated the AvaTrade broker’s fees and charges. We first noticed that the platform has a modest minimum deposit requirement of $100. What’s more, its users pay no additional costs while depositing funds or cashing out. That makes AvaTrade an ideal broker for both cost-conscious and newbie traders who want to test their waters with small capital before going all in.
That said, AvaTrade requires dormant account holders to pay $50 after every 3 consecutive months of inactivity. Moreover, if you let your account remain inactive for over successive months of inactivity, the broker will charge you a $100 administration fee. Not to forget, AvaTrade requires traders who hold positions overnight to cover a premium.
Here’s a breakdown of the fees you should expect to encounter while trading with this service provider:
| Fees and Charges | Amount |
|---|---|
| Spreads | From 0.9 pips |
| Administration fee | $100 |
| Inactivity fee | $50 |
| Overnight premium | Yes |
Explore our other guide on High Leverage Forex Brokers in Australia.
How to Start with Forex Trading App
I always use and recommend reputable forex trading apps because they are easy to acquire and use. Plus, they have top-notch security and are unlikely to compromise my money, data, and assets. Choose the best forex trading app Australia from my list of recommended options and start trading by following these simple steps:
Step 1: Download the app
Step 2: Open your account
Step 3: Verify your account
Step 4: Make a deposit
Step 5: Trade
I always download my apps from official stores like Google Play and the App Store. You should do the same and avoid third-party sites, as their apps are often malicious and intent on stealing your data and funds. Visit your respective official store and search for the app. Better yet, go to your chosen service provider’s official webpage and download the app from there.
Launch the app and tap the registration icon or button. At first, the app will ask you to share your email/phone and set a password. Use a valid and accessible email address or phone number because you’ll need a special code sent to either to activate your account. Once you’re done, provide the rest of the required information, such as your name, address, etc.
Account verification is a crucial step in forex trading. Although some apps allow you to sign up and interact with the markets without verifying, they limit your ability to do things like withdraw funds until you verify your account. You should complete verification with appropriate documents before you start trading to avoid unnecessary limitations and complications.
If you are a newbie, deposit a small amount into your new account and use it for a trial run before going all in. Check the app’s minimum deposit requirements before funding your forex trading account. Furthermore, verify the waiting periods associated with every supported payment method. I recommend using options that guarantee instant deposits and withdrawals.
I urge newbies and novices to start with major pairs because they have lower volatility. Also, if you’re in this category, kick off with small positions; don’t expose yourself to too much risk from the get-go. Finally, use risk management tools like stop-loss orders to protect your capital. Without proper risk management, you will likely lose your capital within a very short time.
How we test
The entire BrokerRaters team is made up of seasoned professionals whose primary objective is to provide unambiguous, unbiased, and factual information and insights. We tested each of the apps recommended here thoroughly before preparing this guide. Both demo and live accounts were involved in our testing process. Trade confidently with any of these apps, knowing we’ll never mislead you.
Please note that we’ve only recommended reliable forex trading apps in Australia. However, we can’t guarantee that you’ll profit from them. Whether you reap juicy returns or lose money will depend on how responsible, knowledgeable, and skilled you are. Educate yourself, practice consistently, and trade responsibly for favourable outcomes.
Bottom Line
This guide is a gift to my audience in Australia. If you’re in this region, use the insights I’ve shared here to find the best trading apps in Australia– an app that suits your trading style and needs. But be cautious. Most of the service providers I’ve mentioned have enticing leverage options. If you don’t know how leverage works, don’t use it; learn the fundamentals first. Also, don’t get too greedy because high leverage can catalyze substantial losses.
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