Top 10 Best Forex Trading Platforms for Beginners in Australia 2022

This article will explore the top 10 forex trading platforms for beginners in Australia for beginners.

The old saying is that practice makes perfect. For forex traders looking to be professionals, this is particularly true.

Although trading with money can be difficult, it can be made easier by using the right platforms and strategies.

Put together a list of Australia’s best forex trading platforms to help you get started. You should consider making money with forex trading if you want to make a living.

A forex trading platform is an answer. A trading platform allows you to deposit money and then allow you to purchase and sell foreign currencies online.

It can execute advanced commands and MetaTrader options on your behalf. For your convenience, the best forex trading platforms for Australians have been listed here.

Forex Trading Platforms for Beginners in Australia
Finance Monthly

List of the 10 Best Forex Trading Platforms for Beginners in Australia

Below is the list of the 10 best forex trading platforms for beginners in Australia:

#1. FXCM (Forex-Cantor)

It is the most widely used forex trading platform globally and is used by over 200 million people worldwide.

FXCM’s key features include a user-friendly platform and real-time, high-quality data. The platform’s popularity has recently caused frequent trading downtimes, resulting in many investors losing money.

In addition, many users have reported problems with the platform over the past year. It is not the only place you can trade forex.

#2. Eurusdex

This platform is the newest in forex trading. This platform was created by the team who developed Eurusdex, a top forex trading software program. 

The platform is completely different from other forex trading platforms. Although it has many features as a top forex trading platform, Eurusdex is designed for retail investors, not professional traders.

This platform is ideal for beginners who are interested in forex trading. Eurusdex is a popular platform that has traded at a low price over the past year, an ideal starting place for new investors.

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#3. IQ Option

This is the latest addition to our top forex trading platforms for beginners. It is a forex trading platform for retail brokers, just like Eurusdex. 

This forex trading platform is also a full-fledged brokerage and provides online trading services.

This platform has a significant advantage over other online forex trading platforms, and IQ Option offers excellent customer service and a low trading fee.

The founders of this platform are experienced forex traders who have been in business for many years, and this platform is among the best for retail forex traders.

#4. OANDA

This platform is “the new kid on the block” in forex trading. Forex-Cantor created this platform, and it is the oldest and most well-known forex trading software company globally. 

It is a fully-fledged brokerage forex trading platform that offers investment advice and online trading services. This platform has a significant advantage over other online forex trading platforms. 

OANDA offers excellent customer service and very low trading fees. OANDA founders have many years of experience in forex trading and are well-versed in it. The platform is one of the best forex trading platforms accessible for regular investors.

#5. MetaTrader

It is one of the most popular forex trading platforms for professionals. It is used by over 1.5 million people worldwide. It is used worldwide by professionals and has been in existence for over 30 years.

It is widely known for being one of the easiest trading platforms available in the industry, so it has been so popular.

It is known as one of the best trading platforms worldwide, so it will be popular in Australia and elsewhere.

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#6. TradeStation

It is the most widely used forex trading platform globally, used by more than 80% of investment dealers and broker-dealers.

Most investors and financial advisors worldwide also have faith in it. It has an enormous following of users who consider it the “best trading software ever.”

It is a fully-fledged brokerage forex trading platform that offers investment advice and online trading services. This platform has a significant advantage over other online forex trading platforms. 

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TradeStation offers excellent customer service and very low trading fees. The founders of TradeStation have many years of experience in forex trading and are well-versed in it. The platform is one of the best forex trading platforms accessible for regular investors.

#7. Quantserve

This is the latest addition to our top forex trading platforms for beginners. Forex-Cantor created this platform. 

They are one of the most well-known and oldest forex trading software companies. 

It is a fully-fledged brokerage forex trading platform that offers investment advice and online trading services.

This platform has a significant advantage over other online forex trading platforms. Quantserve’s trading platform offers excellent customer service and very low trading fees.

The platform founders have extensive experience in forex trading and have been in it for years. The platform is one of the best forex trading platforms accessible for regular investors.

#8. CMC Markets

It is the most widely used forex trading platform globally, and it is used by more than 90% of investors and financial advisors around the globe. It is also used by more than 80% of financial advisers worldwide.

It has an enormous following of users who consider it the “best trading software ever.” It is a fully-featured brokerage forex trading platform that offers investment advice and online trading services. 

This platform has a significant advantage over other online forex trading platforms. CMC Markets offers excellent customer service and very low trading fees. 

The platform founders have extensive experience in forex trading and have been in it for many years. The platform is one of the best forex trading platforms accessible for regular investors. 

#9. TradeSatoshi

It is the most widely used forex trading platform globally, and it is used by more than 90% of investors and financial advisors around the globe. It is also used by more than 80% of financial advisers worldwide.

It has an enormous following of users who consider it the “best trading software ever.” It is a fully-featured brokerage forex trading platform that offers investment advice and online trading services.

#10. Cex.io

Cex.io is a popular forex trading platform. It’s easy to use, and you can buy and sell a variety of currency pairs, such as the Pounds to US Dollars and Euros to US dollars.

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You can also choose from several trading algorithms to enhance your trading experience. You can also open a demo account to get an idea of the platform.

#11. IDX

IDX is one of the most trusted and oldest forex trading platforms. Since then it was launched in 1999 and has been a leader in the forex trading industry. More than 100 nations and 30 languages presently utilize it.

The platform supports currency pairings and allows you to buy and sell commodities such as Oil & and Gas, Natural Gas, Silver and Gold, and Oil Futures.

Market data is available for over 100 countries. The platform also has a robust research tool, which allows you to find new opportunities and source high-quality information.

Leverage Trading for Beginners in Australia

Using leverage is a common strategy for trading the foreign exchange market. It involves borrowing money to purchase assets and then selling them at a higher price to make a profit.

You can also borrow money to buy stocks or bonds and then leverage these stocks and bonds for even more profit.

Let’s take an example of leverage trading: 100 shares of a stock are purchased by borrowing $100,000.

After ten months, you decide to cash out and sell the shares, and you retain the borrowed money as collateral. You can now sell the shares for $100,000 to make a $10,000 profit.

Forex trading, which involves investing in foreign currencies for profits, is a rising trend. Forex trading can be extremely profitable, but you must understand the risks before taking this journey. However, having the right tools can make it easier and more fun.

If you’re interested in forex trading, you should consider one of Australia’s top forex trading platforms for beginners.

Watch the video below to know the best forex trading platforms for beginners in Australia:

Forex Trading Platforms for Beginners in Australia
Forex Trading Platforms for Beginners in Australia

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