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Written By
Jemma Grist
Written By
Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
» Jemma Grist Profile Page
Fact Checked By
James Barra
Fact Checked By
James Barra
James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks.James authors, edits and fact-checks content for a series of investing websites.
» James Barra Profile Page
Updated
Feb 7, 2024
The best brokers in Australia offer low fees, a range of day trading tools and favorable execution. Importantly, many platforms deliver conditions that ensure secure and convenient day trading for Aussie clients, including oversight from the Australian Securities and Investments Commission (ASIC) and live accounts in AUD.
We also like to see platforms that offer excellent exposure to Australian markets, including the Australian Securities Exchange (ASX) and popular Aussie currency pairs like AUD/USD.
Our analysts have thoroughly tested hundreds of platforms and compiled a list of the best brokers for day trading in Australia. Many firms are ASIC-regulated and consistently top our rankings.
Top 5 Platforms For Day Trading In Australia
Our tests show that these are the 5 best day trading brokers in Australia:
- Vantage - Vantage remains an excellent option for CFD traders seeking a tightly-regulated broker with access to the reliable MetaTrader platforms. The fast sign-up process and $50 minimum deposit make it very straightforward to start day trading quickly.
- Pepperstone - Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support.
- IC Markets - IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders.
- FXCC - FXCC continues to prove itself an excellent option for forex day traders with an extensive range of 70+ currency pairs, ultra-tight spreads from 0.0 pips during testing, and high leverage up to 1:500 in the ECN XL account.
- AvaTrade - AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit.
Best Day Trading Platforms and Brokers in Australia 2024 Comparison
| Broker | ASIC Regulated | AUD Account | Minimum Deposit | Markets | Platforms | Leverage | Visit |
|---|---|---|---|---|---|---|---|
| | ✔ | ✔ | $50 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds | ProTrader, MT4, MT5, TradingView, DupliTrade | 1:500 | Visit |
| | ✔ | ✔ | $0 | CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting | MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade | 1:30 (Retail), 1:500 (Pro) | Visit |
| | ✔ | ✔ | $200 | CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto | MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade | 1:30 (Retail), 1:500 (Pro) | Visit |
| | - | - | $0 | CFDs, Forex, Indices, Commodities, Crypto | MT4 | 1:500 | Visit |
| | ✔ | ✔ | $100 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting | WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade | 1:30 (Retail) 1:400 (Pro) | Visit |
| | ✔ | ✔ | $0 | CFDs, Forex, Stocks, Indices, Commodities, Crypto | MT4, MT5, cTrader, DupliTrade | 1:500 | Visit |
| | ✔ | ✔ | $100 | CFDs, Forex, Stocks, Indices, Commodities, Crypto | MT4, MT5, TradingView | 1:30 | Visit |
| | ✔ | ✔ | $0 | CFDs, Forex, Stocks, ETFs, Futures, Commodities, Crypto, Spread Betting (UK Only) | ThinkTrader, MT4, MT5, AutoChartist, TradingCentral | 1:500 | Visit |
| | - | ✔ | $5 | CFDs, Multipliers, Forex, Stocks, Indices, Commodities | Deriv Trader, MT5 | 1:1000 | Visit |
| | ✔ | ✔ | $5 | Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures | MT4, MT5 | 1:30 | Visit |
| | ✔ | ✔ | $0 | CFDs, Forex, Stocks, Cryptos, Options, Commodities, Bonds | MT4, TradingView, TradingCentral | 1:30 (Retail), 1:50 (Accredited Investor), 1:200 (Sophisticated Investor), 1:300 (Wholesale Investor), 1:400 (Professional Trader). Varies with jurisdiction. | Visit |
| | ✔ | ✔ | $100 | CFDs, Forex, Indices, Commodities, Stocks, Crypto | MT4, MT5 | 1:30 | Visit |
| | - | - | $1 | Currencies, Cryptocurrencies, Stocks, Indices, Metals, Oil and Gas, Commodity Futures and InstaFutures | MT4, MT5 | 1:1000 | Visit |
| | ✔ | ✔ | $0 | CFDs, Forex, Stocks, Indices, Commodities, Crypto, Bonds, ETFs, Spread Betting | OANDA Trade, MT4, TradingView, AutoChartist | 1:200 | Visit |
| | - | - | $20 | Forex, CFDs, Stocks, Indices, Commodities, Crypto | MT4 | 1:1000 | Visit |
#1 - Vantage
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Review
Why We Chose Vantage
Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to over 900,000 clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds
- Regulator: FCA, ASIC, FSCA, VFSC
- Platforms: ProTrader, MT4, MT5, TradingView, DupliTrade
- Min. Deposit: $50
- Min. Trade: 0.01 Lots
- Leverage: 1:500
Pros
- There are no short-term strategy restrictions with hedging and scalping permitted
- Vantage caters to hands-off investors with beginner-friendly social trading via ZuluTrade & Myfxbook
- The broker has recently made efforts to expand its suite of CFDs providing further trading opportunities
Cons
- The average execution speeds of 100ms to 250ms are slower than alternatives based on tests
- Unfortunately, cryptos are only available for Australian clients
- It's a shame that some clients will need to register with the offshore entity, which offers less regulatory protection
Visit Vantage
#2 - Pepperstone
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Review
Why We Chose Pepperstone
Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.
- Instruments: CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
- Regulator: FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
- Platforms: MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
- Min. Deposit: $0
- Min. Trade: 0.01 Lots
- Leverage: 1:30 (Retail), 1:500 (Pro)
Pros
- Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing.
- Now offering spread betting through TradingView, Pepperstone provides a seamless, tax-efficient trading experience with advanced analysis tools.
- There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.
Cons
- There’s no simplified proprietary trading platform, nor are there any social trading features, which could be a disadvantage if you are new to day trading.
- Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.
- Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.
Visit Pepperstone
#3 - IC Markets
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Review
Why We Chose IC Markets
IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
- Regulator: ASIC, CySEC, FSA
- Platforms: MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
- Min. Deposit: $200
- Min. Trade: 0.01 Lots
- Leverage: 1:30 (Retail), 1:500 (Pro)
Pros
- IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
- You have access to over 2,250 CFDs across various markets, including forex, commodities, indices, stocks, bonds, and cryptocurrencies, allowing for diversified trading strategies.
- With ultra-fast execution speeds averaging 35 milliseconds and deep liquidity, IC Markets provides an optimal trading environment for scalpers, hedgers, and algorithmic traders.
Cons
- Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.
- The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
- While IC Markets offers a selection of metals and cryptos for trading via CFDs, the range is not as extensive as brokers like eToro, limiting opportunities for traders interested in these asset classes.
Visit IC Markets
#4 - FXCC
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Review
Why We Chose FXCC
FXCC is an established broker that’s been offering low-cost online trading since 2010. Registered in Nevis and regulated by the CySEC, it stands out for its ECN trading conditions, no minimum deposit and smooth account opening that takes less than 5 minutes.
- Instruments: CFDs, Forex, Indices, Commodities, Crypto
- Regulator: CySEC
- Platforms: MT4
- Min. Deposit: $0
- Min. Trade: 0.01 Lots
- Leverage: 1:500
Pros
- FXCC is trusted and licensed by the CySEC, a top-tier European regulator offering high standards of safeguarding
- There are no restrictions on short-term trading strategies like day trading and scalping
- Competitive and transparent ECN spreads from 0.0 pips with zero commissions, making FXCC one of the cheapest forex brokers
Cons
- FXCC’s single platform offering is a major drawback compared to many alternatives, notably AvaTrade which provides 5 platforms to suit different trader preferences
- While the range of currency pairs exceeds most alternatives, the selection of additional assets is narrow, and notably, there are no stocks
- Although MetaTrader 4 continues to shine for technical analysis, the subpar design dampens the trading experience, especially compared to modern alternatives like TradingView
Visit FXCC
#5 - AvaTrade
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Review
Why We Chose AvaTrade
AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, alongside a comprehensive education center and multilingual customer support.
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting
- Regulator: ASIC, CySEC, FSCA, ISA, CBol, FSA, FRSA, BVI, ADGM
- Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
- Min. Deposit: $100
- Min. Trade: 0.01 Lots
- Leverage: 1:30 (Retail) 1:400 (Pro)
Pros
- The broker offers reliable 24/5 multilingual customer support with fast response times during testing
- The broker’s unique risk management tool, AvaProtect, protects against losses up to $1 million and is easy to activate in the platform
- There's a great range of fee-free deposit methods, including bank wire, credit cards and popular e-wallets like Skrill
Cons
- A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners
- Traders from the US are not accepted
- There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders
Visit AvaTrade
Choosing A Day Trading Broker In Australia
Leveraging the decades of industry experience across our expert team, we prioritize several conditions when choosing the best day trading platforms:
Regulation and Trust
Choose a reputable day trading platform that you can trust.
A trustworthy broker will be authorized by a reputable regulator and will be transparent about any measures it has in place to protect you from unfair trading practices and scams.
Unfortunately, some incidents have gained infamy in Australia in recent years, including the brutal ‘Pig Butchering’ scam, which made up 31% of reported scams in 2023.
In this highly manipulative scam, the fraudsters built trust with the victim over a prolonged period before pushing them into fake investment opportunities. This method of going for the ‘full hog’ is particularly malicious since it targets lonely or vulnerable people.
That’s why we always check whether the broker is regulated by a ‘green tier’ authority, such as the Australian Securities and Investments Commission (ASIC). Looking for this, combined with strong industry credentials and a long track record, are priorities during our routine tests.
The ASIC has strict measures in place to monitor day trading brokers operating in Australia, including enforcement proceedings and civil penalties.
To help protect consumers, it also runs the Moneysmart website which contains comprehensive advice on financial planning, online safety and scams.
Jemma Grist
Author
- AvaTrade maintains its position as one of the most heavily regulated platforms, with licenses from several top-tier authorities, including the ASIC. It also boasts a stellar industry reputation.
Day Trading Fees
Opt for a low-cost broker with competitive pricing.
If you’re an active day trader, keeping transaction costs low will be important to you.
We look out for brokerages that offer the full trading package at a low overall cost. This includes competitive trading fees, from low spreads and commissions to zero funding fees.
If certain parts of the service are paid for, then we also take into account the quality of the resources or tools provided. It can often be worth paying for top-quality charting tools, for example, if it saves you time and increases your potential for success.
- Fusion Markets remains one of the lowest-cost brokers that we’ve evaluated, especially for Aussie day traders. Alongside a $0 minimum deposit, you can expect forex commissions as low as $2.25 per side, plus spreads from 0.0 pips on AUD/USD.
Charting Platforms and Apps
Choose a user-friendly platform with a range of short-term trading tools.
To ensure an optimum day trading environment, pick a broker that delivers comprehensive charting tools for technical analysis.
In particular, we prioritize brokers that offer a good selection of indicators and drawing tools. Familiarizing yourself with a range of volatility tools, moving averages and technical studies, for example, can help you uncover short-term market opportunities.
- Pepperstone is an excellent choice here, with a leading range of charting platforms and third-party analysis tools, including MetaTrader 4 (MT4), cTrader, and Autochartist. Whether you trade on the go or execute complex algo strategies, there’s something for everyone at this broker.
Tradable Assets
Pick a broker that offers a diverse range of day trading markets.
Having access to a wide range of assets will allow you to build a diversified portfolio, hedge against risks and gain confidence trading the financial markets.
For Australian traders, we look out for popular currency pairs like AUD/USD and GBP/AUD, as well as stock markets like the Australian Securities Exchange (ASX).
Most top brokers typically offer trading via contracts for difference (CFDs). These are short-term derivative products that allow you to speculate on price movements without taking ownership of the asset.
- Vantage continues to offer a strong range of 1000+ assets for Australian day traders, including popular currencies and commodities like gold and silver against the AUD, plus dozens of ASX-listed share CFDs.
Execution Speed and Quality
Consider the broker’s execution policy and whether it will optimize your day trading strategies.
This will include the likelihood, quality and speed of execution which, when performing optimally, will ensure the best possible conditions for short-term strategies.
The good news is that many leading brokerages with fast execution operate in Australia, and we favor those with speeds of less than 100 milliseconds.
- IC Markets continually excels in this category, with orders executed in around 35 milliseconds. Experienced short-term traders can also access a VPS subscription which delivers ultra-low latency and reduced slippage.
Leverage and Margin Requirements
Make sure the broker has transparent leverage and margin requirements.
Trading with leverage appeals to many day traders looking to maximize their potential returns with a small initial deposit.
That said, leverage trading is inherently risky, so it’s important to register with a broker that is transparent about their margin requirements.
- OANDA is an excellent choice for Australian traders looking for a trustworthy ASIC-regulated broker that provides margin rates up-front. The broker also offers guaranteed stop-loss orders (GSLO) plus additional margin relief for pro traders.
Minimum Account Deposit
Choose a broker with an affordable minimum deposit requirement that suits your budget.
Anything below $500 is reasonable, though most leading Australian day trading platforms offer a minimum deposit of less than $200. This is ideal for beginners who may be on a smaller budget.
It’s also worth looking out for brokers who offer accounts denominated in AUD, which will save you exchange fees when it comes to funding.
💡
Tip: Consider setting up a demo account in AUD so you can practice your trading strategies and assess potential trading costs without having to put down a deposit.
- ThinkMarkets is a great beginner-friendly option, offering a competitive AUD account with no minimum deposit requirement.
Methodology
Our approach to finding the best day trading platforms in Australia involved comprehensive qualitative and quantitative assessments of each broker. In particular:
- We ensured that the platform accepts Australian day traders.
- We checked for a trustworthy license from a reputable agency, such as the ASIC.
- We focused on brokers with low day trading fees.
- We prioritized charting platforms that cater to short-term strategies.
- We checked the broker’s execution speeds and pricing.
- We favored platforms with reasonable margin and leverage requirements.
- We picked brokers that offer an affordable minimum deposit.
Bottom Line
We’ve tested and evaluated dozens of platforms to find you the best day trading brokers in Australia.
Before signing up, check that your chosen broker is listed on the respective regulator’s website. We also recommend trying out the platform in a demo account to determine if the platform is stable, easy to use, and offers the instruments you want to trade.
FAQ
How Much Money Do I Need To Start Day Trading In Australia?
Most brokers offer live trading accounts with an initial deposit of $500 or less, with some even requiring no minimum deposit. ThinkMarkets, for example, is a great choice for beginners on a budget with zero minimum.
Who Regulates Day Trading Platforms In Australia?
The Australian Securities and Investments Commission (ASIC) is the primary regulatory authority that oversees financial markets in Australia.
We consider the ASIC a ‘green tier’ agency, which means it offers the highest standards of financial safeguarding for Australian clients.
That said, it’s important to understand the inherent risks of day trading and always ensure you have a solid risk management strategy in place.
Which Are The Best Brokers That Accept Day Traders From Australia?
Check our list of the best day trading brokers in Australia to find the right option for you. Many of these firms offer services tailored to Australian clients, including an AUD account, ASIC regulation, and a range of tradable assets popular in Australia.
Recommended Reading
Article Sources
- Australian Securities and Investments Commission (ASIC)
- Australian Securities Exchange (ASX)
- 'Pig Butchering' Trading Scam
- Moneysmart
The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com
