#1 – Mitrade
Overview
Mitrade debuted with a top-notch proprietary trading platform in 2019, catering to global users but with a strong Australian footprint, as this is where this CFD broker kicked off its operations.
Instead of relying on third-party software, Mitrade opted to design its own trading interface. This is a highly user-friendly and professional-looking terminal that makes forex trading as easy as it gets for beginners.
What makes Mitrade stand out?
Mitrade stands out for its top-notch proprietary trading platform featuring an advanced chart analysis tool, economic calendar, live news feed, sentiment indicator, and more. Its platform offers access to more than 60 forex pairs, including traditional ones (AUD/USD, EUR/USD) and exotic alternatives (EUR/SGD).
Users can easily execute trades, set lot sizes, define leverage ratios, and their target take-profit and stop-loss prices to ensure timely entries and exits.
Fees & Commissions on Forex Trading
The platform does not charge any fees or commissions for trading forex pairs. Instead, it embeds the cost of each trade in the bid/ask spread of each instrument.
For example, the AUD/USD trades at an ask price of $0.7222 while the bid price sits at $0.72227. The difference between these two prices is what Mitrade keeps. In addition, the platform charges an inactivity fee of $10 and a financing fee for positions that stay open for more than a day.
#2 – IC Markets
Overview
Founded in 2007, IC Markets has become a leading CFD broker by offering access to the forex market via third-party software like MetaTrader and cTrader. In addition, its seamless integration with TradingView was embraced by the trading community as it allows users to execute trades from within this popular charting tool.
IC Markets supports trading for more than 1,800 assets, including 61 forex pairs. It allows traders to place orders for small lots (microlots) and offers a 30:1 leverage ratio.
What makes IC Markets stand out?
The Raw Spread account, which operates via MetaTrader 4 and 5, is one of the most popular choices among beginners as it offers low spreads starting at 0 pips for some pairs and 0.1 for the EUR/USD pair.
Meanwhile, the Standard account is a commission-free option that offers low spreads starting at 0.08 pips with ultra-fast transaction execution speeds powered by IC Markets’ leading infrastructure.
Fees & Commissions on Forex Trading
For reference, the minimum spread on Raw Spread accounts starts at 0 pips for pairs including AUD/USD, EUR/USD, and GBP/USD. Meanwhile, for Standard accounts, the minimum spread starts at 0.08 pips with an average of 0.10 pips for AUD/USD and 0.12 pips for EUR/USD.
For Raw Spread accounts, a standard commission is charged on microlots of AUD 0.09 per turn for AUD-based accounts and $0.07 per turn for USD-based accounts. IC Markets also charges financing fees for trades that stay open overnight, but does not charge an inactivity fee for dormant accounts.
#3 – eToro
Overview
eToro caters to more than 40 million users spread across the globe via a robust proprietary trading platform that offers access to thousands of financial instruments. The company set foot in Australia in 2016, and it has expanded its portfolio of products to incorporate direct share trading
This provider has set itself apart by designing a highly user-friendly trading interface that supports an advanced charting tool via its web portal or mobile app. It requires a minimum deposit of $50 to open an account, supports AUD-based accounts, and is one of the most heavily-regulated brokers in this list.
What makes eToro stand out?
eToro is well known for its copy trading features. Beginner traders benefit from this tool as they can easily mimic the portfolio of seasoned users with a positive track record and solid returns on the platform.
They also recently launched an AI assistant called Tori that users can tap on to browse the markets for opportunities, stay updated with the latest news, and find information about the forex pairs they are planning to trade.
Fees & Commissions on Forex Trading
The platform offers access to 65 different forex pairs via contracts for difference (CFDs) and embeds the cost of trading in each asset’s bid/ask spread. The minimum spread starts at 1 pip for EUR/USD and USD/JPY.
eToro also charges overnight fees and an inactivity fee of $10.
#4 – Fusion Markets
Overview
Fusion Markets is based in the Seychelles but it operates legally in Australia through an AFS license. This platform has been active since 2016, and it is known for its lightning-fast transaction execution speeds, fixed trading fees, and support for the most popular trading systems, including Meta Trader and cTrader.
Its Fusion+ proprietary trading interface was launched in 2025 to support advanced copy trading by introducing the figure “Money Managers”. These professionals can easily onboard clients, friends, family, and fellow traders through this tool at zero cost for the user.
What makes Fusion Markets stand out?
Fusion Markets offers access to one of the largest portfolios of forex pairs in the markets, supports more than 90 different currency pairs. This CFD broker integrates easily with TradingView as well, allowing users of this popular charting tool to execute trades on the go right after they finish their analysis.
In addition, this CFD broker supports mini and micro lots and a higher leverage ratio of 500:1 for forex pairs. This allows traders to open large positions with relatively small amounts of capital.
Fees & Commissions on Forex Trading
Traders get to choose between the ZERO account, which supports low spreads and fixed commissions starting at $4.50 for AUD-based accounts, and the Classic account, with spreads starting at 0.9 pips and zero commissions.
This provider does not require a minimum deposit to activate an account.
#5 – Pepperstone
Overview
Pepperstone claims to process over $1 trillion in monthly trades for its more than 800,000 users. This CFD broker has an established presence in more than 130 countries and offers access to the forex market via the most popular trading software, including MetaTrader and cTrader.
They excel at mobile trading as they launched a proprietary app through which users can place trades on the go. The platform supports a live news feed, economic calendar, and advanced charting tools.
Pepperstone also offers access to 90 different forex pairs. This makes its portfolio of available trading instruments in this segment the largest in this list.
What makes Pepperstone stand out?
The Razor account was named for its razor-thin commissions. Traders pay a fixed commission of $2.96 per lot per side while spreads start at 0 pips. In addition, they have a program for professional traders that offers access to higher leverage ratios (1000:1 for forex) and a highly rewarding referrals program.
Fees & Commissions on Forex Trading
With the Standard account, the platform’s trading costs are embedded in the bid/ask spread, starting at 1 pip for AUD/USD and EUR/USD. No commissions are charged for this type of account.
Meanwhile, traders pay a fixed commission starting at $3 per lot per trade on the Razor account, plus an average spread of 0.1 on AUD/USD and EUR/USD. On cTrader and TradingView, commissions start at $6 and $7 per lot per side, respectively.
Financing fees also apply for trades that stay opened overnight.
#6 – CMC Markets
Overview
CMC Markets has been serving traders for over 35 years and has grown its customer base to over 1 million users worldwide. The company is based in the United States and has become a leading player in the CFD brokers market.
This provider supports third-party systems like MetaTrade 4 and 5 for forex trading, but also developed a proprietary platform through which traders can execute their operations easily via a desktop or mobile interface.
To date, CMC Markets offers access to 300 different forex pairs and 7 forex indexes with its minimum spread starting at 0.50 pips.
What makes CMC Markets stand out?
CMC Markets specializes in forex trading and even has an account type specifically designed for traders who operate primarily in this huge market. The FX Active account offers a 25% discount on forex spreads and a fixed commission of $2.50 per lot. Trading fees start at 0 pips for this type of account for six major pairs.
Fees & Commissions on Forex Trading
The Standard account embeds the cost of trading in each instrument’s bid/ask spread, with FX spreads starting at 0.60 for EUR/USD. Meanwhile, the FX Active account offers lower spreads (zero for some pairs) and a fixed commission of $2.50 per lot. In addition, no minimum deposit is required to open either of these accounts.
Apart from this, CMC Markets charges finance fees for trades held open overnight and a AUD $15 fee for dormant accounts.
#7 – IG
Overview
IG was one of the first CFD brokers to operate in Australia. They arrived in 2022 and have been expanding their footprint in this local market since then. Today, they serve over 300,000 customers across the globe, offering access to the financial markets via an award-winning proprietary trading platform.
Its platform allows users to trade over 90 different forex pairs. They support third-party systems, including Meta Trader 4, and also offer access to their back-end to sophisticated traders via API-based solutions, a proprietary terminal, and more.
What makes IG stand out?
IG developed an automated trading solution called ProRealTime that allows savvy traders to develop algorithmic systems to execute transactions in real time without human involvement. The platform supports backtesting dating back to 30 years and is powered by a robust infrastructure that ensures fast execution and minimal price slippage.
Fees & Commissions on Forex Trading
Forex spreads start at 0.60 with IG for the AUD/USD pair. This provider only offers one type of account. Meanwhile, the ProRealTime solution costs $40 per month. However, the fee is refunded if the user executes four or more trades each month.
An inactivity fee of AUD $18 also applies to accounts that have been dormant for over 18 months, along with financing fees for overnight trades and guaranteed stop orders.
#8 – Vantage Markets
Overview
Vantage Markets was founded in 2009 and serves over 5 million customers worldwide, and jumped to the spotlight after it became a sponsor for the globally-recognized Ferrari F1 team. This provider has its own proprietary platform to support forex trades, but also offers a TradingView webhook and MetaTrader.
Its forex portfolio consists of more than 50 currency pairs. Spreads start at 0 pips, depending on the type of account that the trader chooses. Vantage supports four types of accounts: Standard, Raw (Classic & Premium), and Perpetual.
What makes Vantage Markets stand out?
The diverse number of accounts offered by this CFD broker is one of its most appealing characteristics, as they have created a product that suits almost every trader’s needs. The Standard account is a spread-only alternative, while the Raw Premium option is a great option for high-volume trading due to its low commission of $1 per lot per side.
Fees & Commissions on Forex Trading
Trading costs vary per account type, starting at 1.1 pips for the Standard account with zero commissions. Meanwhile, Raw accounts offer 0 pips for major pairs and charge a flat commission of $2.50 (Classic) and $1 (Premium) per lot per side.
