Best ECN Brokers in Australia in 2024

Your capital is at risk.
Please note that your capital is at risk.

Pepperstone is particularly suitable for novice market participants as well as more seasoned trading professionals. In general, the Pepperstone platform offers everything novice traders need for comfortable trading such as favorable conditions, reliability, a wide selection of trading options, along with an assortment of first rate educational materials.

8.4

Your capital is at risk.
Up to 75.93% of the broker’s non-professional clients incur losses when trading CFDs.

IC Markets Trading Company is a great broker for scalping enthusiasts, automated trading lovers, and beginner traders.

8.23

IG Markets is a well-known international company focused on financial market services. It is one of the largest CFD and Forex providers. The broker is regulated by reputable supervisory authorities and provides a high level of security for client assets.

7.76

Your capital is at risk.
74.1% of retail investor accounts lose money when trading CFDs with this provider.

Axi is a reliable brokerage with years of experience, holding three licenses in different jurisdictions. It offers accounts for traders of all experience levels, along with education and tools to enhance trading efficiency.

7.76

Your capital is at risk.
77% of retail investor accounts lose money when trading CFDs with this provider.

FXOpen is a reliable broker with years of experience in financial markets, and adjusting trading conditions for its clients based on the regulatory requirements of their jurisdiction.

Best ECN brokers in Australia in 2024

	Pepperstone	IC Markets	IG Markets	Axi	FXOpen
Trading platform	cTrader, TradingView, MetaTrader 4 and MetaTrader 5	MetaTrader 4, MetaTrader 5, TradingView and cTrader	MetaTrader 4, IG Trading Platform, ProRealTime, L2 Dealer, and API	MT4 desktop, MT4 mobile app, MT4 WebTrader, Axi Mobile app	MT4, MT5, TickTrader, TradingView
Min deposit	$1	$200	$1	No	$300
Leverage	From 1:1 to 1:400	From 1:1 to 1:500	From 1:1 to 1:200	From 1:1 to 1:500	From 1:1 to 1:500
Trust management	No	No	No	No	No
Accrual of % on the balance	0.00%	0.00%	0.00%	0.00%	0.00%
Spread	From 0.0 points	From 0.0 points	From 0.4 points	From 0.0 points	From 0.9 points
Level of margin call / stop out	90% / 20%	100% / 50%	No	90% / 20%	20% / 100%
Execution of orders	Instant Execution	Market Execution	Market Execution	Market Execution	Market Execution
No deposit bonus	No	No	No	No	No
Cent accounts	No	No	No	No	Yes

ECN is an electronic communication network which is used to process the trades of traders. There is no dealing, which is used by classical brokers. Such companies earn a profit exclusively from the fees paid by the traders. Therefore, they are directly interested in making sure that the client trades as long as possible and does not lose the deposit fast.

The ECN technology does not allow the broker to interfere with the process in any way. Traders work directly with the liquidity providers, i.e. the largest banks and financial institutions. Liquidity improvement is achieved through an increased number of trades, and not the trading volume. The spreads are floating on ECN accounts and they are better compared to classical brokers with dealing centers.

1
Best ECN broker in Australia - Pepperstone

Pepperstone (Pepperstone.com) was founded in 2010 in Melbourne, Australia, by professional traders who were not satisfied with the quality of services provided by most brokers. The founders decided to avoid many of the disadvantages of competitors, including high commissions, delayed execution of orders, etc. The founders therefore focused on improving the technical component. The company has set itself the goal of changing the “rules of the game” and setting the bar high for online trading.
Today, Pepperstone offers clients all over the world some of the best technological solutions and favorable trading conditions. The company also provides professional tools that help traders not only master the fine art of trading, but also significantly increase trading efficiencies. In addition, Pepperstone’s platform is scrutinized by seven regulatory authorities, including ASIC (Australian Securities and Investments Commission, AFSL No.414530), FCA (UK Financial Conduct Authority, 684312), DFSA (F004356), BaFin (151148), CMA (128), SCB (SIA-F217), and CySec (388/20). Moreover, with Pepperstone, clients' assets are maintained in aggregated accounts with several major, global banking institutions. These facts confirm the reliability of the company and guarantee the safety of the client's capital.

👍 Advantages of trading with Pepperstone for traders from Australia:

•Attractive trading conditions;

•Fast order execution - 30 ms on average;

•1,200+ trading instruments;

•Low fees; and

•No inactivity fee.

👎 Disadvantages of Pepperstone for traders from Australia:

•Support service works only 24/5;

•No cent account;

•Not available to US clients;

•Limited passive trading opportunities;

•Limited analytical materials available on the site. The only way to resolve this issue is to connect to trading signals;

•No news section; and

•Demo accounts can only trade for free for one month only.

Pepperstone Commissions & Fees for traders from Australia

The fees are the key source of income for ECN brokers. Before choosing a broker, it is important to evaluate the levels of commissions and fees, which the broker offers on different accounts, including ECN.

Pepperstone Commissions and Fees in Australia

Account type	Spread (minimum value)	Withdrawal commision
Razor	From $0	No
Standard	From $1	No

Your capital is at risk.
Please note that your capital is at risk.

2
Best ECN broker in Australia - IC Markets

IC Markets is a multi-regulated STP/ECN broker that offers trading of 2,250+ instruments on MetaTrader, TradingView and cTrader platforms. Currently, IC Markets provides its services to over 200,000 clients worldwide. The broker processes over 500,000 trades daily and its monthly trading volume is almost $1.4 trillion as of June 2024. It is regulated by CySEC, ASIC, and FSA. The broker was incorporated in 2007 and is constantly developing, improving, and adding new services and products.

👍 Advantages of trading with IC Markets for traders from Australia:

•Availability of three licenses;

•Wide range of assets;

•Standard and ECN account types for trading on different platforms;

•Mobile apps for Android and iOS-based devices;

•Scalping, hedging, and algorithmic trading are allowed;

•Minimum delay when executing orders and ultra-fast market execution;

•Competitive trading fees;

•Wide choice of social trading and copy trading platforms;

•24/7 support via live chat;

•Demo accounts on MT4, MT5, and cTrader;

•Swap-free accounts are available for Muslim traders.

👎 Disadvantages of IC Markets for traders from Australia:

•Education materials available on the website are not very informative or diverse;

•Rebates are available outside Australia and the European Economic Area;

•Not all clients are equally protected since compensation for investment is subject to the trader's country of residence.

IC Markets Commissions & Fees for traders from Australia

IC Markets Commissions and Fees in Australia

Account type	Spread (minimum value)	Withdrawal commision
Standard	$6	Bank fees apply
Raw spread MT4/MT5	$0	Bank fees apply
Raw spread cTrader	$0	Bank fees apply
Islamic	$0	Bank fees apply

Your capital is at risk.
Up to 75.93% of the broker’s non-professional clients incur losses when trading CFDs.

3
Best ECN broker in Australia - IG Markets

IG Markets has been providing brokerage services for retail traders since 2014. It was established in 1974 in London to work with professional traders. It is a part of the IG Group with representative offices in 17 countries. IG Markets stocks are traded on the London Stock Exchange as a part of the FTSE 250 index. The broker is regulated by FCA (Financial Conduct Authority | the UK), CySec (Cyprus Securities and Exchange Commission), ASIC (Australian Securities and Investments Commission), BaFin (the Federal Financial Supervisory Authority | Germany), FINMA (Swiss Financial Market Supervisory Authority), and NFA (National Futures Association). The IG Group global representative office is supervised by BMA (the Bermuda Monetary Authority). The broker provides services of trading Forex and different CFDs through MetaTrader 4 and its in-house platforms for retail and professional traders.

👍 Advantages of trading with IG Markets for traders from Australia:

•Regulated activities and participation in compensation funds;

•No minimum deposit requirements when opening an account with the international division;

•Leverage is available for trading currencies and CFDs;

•Wide range of trading assets and markets;

•Fee rebates for new and active existing clients with large trading volumes;

•Floating spreads from 0.6 pips for retail Forex traders;

•Bonuses for new clients and partnership programs for different client categories.

👎 Disadvantages of IG Markets for traders from Australia:

•The broker can reject opening accounts to traders with low capital or insufficient knowledge of derivatives trading;

•Deposits and withdrawals can’t be made with e-wallets, electronic payment systems, or cryptocurrencies;

•Trading conditions differ for various countries, so you have to look for the broker’s website in your country.

IG Markets Commissions & Fees for traders from Australia

IG Markets Commissions and Fees in Australia

Account type	Spread (minimum value)	Withdrawal commision
Standard	From $6	YES

4
Best ECN broker in Australia - Axi

Axi is a multi-regulated Forex and CFD broker operating under licenses from ASIC (Australia - 127 606 348 ), FCA (United Kingdom - 466201), and DFSA (UAE - F003742), and is a member of The Financial Commission. Each division of Axi serves a specific region, with global traders transacting through the company registered in Saint Vincent and the Grenadines. Axi provides access to over 290 CFDs on stocks, commodities, cryptocurrencies, and shares. Specializing in the Forex market, the broker offers clients over 70 currency pairs with leverage up to 1:30, 1:400, or 1:500, depending on the regulator.

👍 Advantages of trading with Axi for traders from Australia:

•Compliance with strict FCA, ASIC, and DFSA regulations;

•No specific initial deposit requirements for Standard and Pro accounts;

•High execution speed and price aggregation from 20+ liquidity providers;

•5-digit quotes;

•Access to VPS, Autochartist, and an extended toolkit for MT4;

•Minimum trade size of 0.01 lots;

•No fees for deposits and withdrawals.

👎 Disadvantages of Axi for traders from Australia:

•Spreads on the Forex market are not the tightest;

•Demo accounts are provided for 30 days if the trader does not have a user account;

•The broker does not offer more advanced platforms like MT5 and cTrader, only MT4 is available.

Axi Commissions & Fees for traders from Australia

Axi Commissions and Fees in Australia

Account type	Spread (minimum value)	Withdrawal commision
Elite	From $0	No
Pro	From $0	No
Standard	From $9	No

Your capital is at risk.
74.1% of retail investor accounts lose money when trading CFDs with this provider.

5
Best ECN broker in Australia - FXOpen

FXOpen has been providing brokerage services since 2005 while offering clients STP and True ECN execution models, liquidity from reputable providers, an enviable variety of accounts, and trading instruments. The broker has global offices regulated by the financial supervisory commissions FCA (United Kingdom), CySEC (Cyprus), and ASIC (Australia). FXOpen provides access to trading with over 600 instruments (Forex and CFDs) with leverage up to 1:1000 on the MT4, MT5, and TickTrader platforms. The company serves over 1 million traders, but FXOpen does not have a presence in the U.S.

👍 Advantages of trading with FXOpen for traders from Australia:

•Regulation by three reputable supervisory authorities and membership in the Financial Commission;

•Compensation of up to EUR 20,000 per client in case of the broker's bankruptcy or failure to fulfill withdrawal obligations;

•Use of STP (Straight Through Processing) and ECN (Electronic Communication Network) technologies that eliminate dealing center involvement;

•The opportunity for residents of many countries to start trading on STP accounts with $10 and on Micro accounts with $1;

•Trading with leverage up to 1:500 on MT4 and MT5 accounts, up to 1:1000 on TickTrader;

•Protection against negative balance for every retail trader.

👎 Disadvantages of FXOpen for traders from Australia:

•High minimum deposit for traders from the United Kingdom and EU countries, starting from $300 or equivalent;

•Limited range of educational content for beginners;

•Micro cent accounts are not available in all countries.

FXOpen Commissions & Fees for traders from Australia

FXOpen Commissions and Fees in Australia

Account type	Spread (minimum value)	Withdrawal commision
STP	From $9	Depends on the payment system and the trader's country
ECN	From $0	Depends on the payment system and the trader's country
Crypto	From $10	Depends on the payment system and the trader's country
Micro	From $0	Depends on the payment system and the trader's country

Your capital is at risk.
77% of retail investor accounts lose money when trading CFDs with this provider.