If you’re looking for the best forex trading app Australia has to offer, you’ve come to the right place. The app you choose will have features to suit your needs, from a customisable dashboard to an automatic stop-loss feature. Some apps even offer premium research tools. Some are great for new traders, while others are better suited for intermediate traders.
XM is a great choice for beginners without a high minimum deposit. It comes with powerful charting tools, although some beginner traders won’t find these features very useful. This app also requires a monthly subscription and may charge commissions to non-high-frequency traders. Be aware, however, that XM is a relatively new company. It is regulated only by the AFSL, which means that there may be some risks associated with this app.
AvaTrade is another great choice. It’s easy to use and has a range of useful trading tools. This app doesn’t offer any social trading features, but it does offer low rates. It’s regulated by the Australian Securities and Investments Commission, the FCA in the UK, and the NFA in the U.S.
Experienced traders should also look for tools that enable them to conduct technical analysis. These tools will enable you to draw charts and analyze the value of currency pairs. The best forex trading apps also offer in-house educational resources, including webinars and video-based training. This can be helpful for those who are new to forex trading. You can also find these tools on forex brokers’ websites. Lastly, seasoned traders should opt for a forex trading app that caters to newcomers.
It’s easy to lose money when trading CFDs. Because of the high leverage, CFDs come with a high risk of losing money quickly. Plus500, a stock exchange broker, reports that 77% of retail investor accounts lose money when trading with their CFDs. Despite the high risk, they’re still a great alternative for Australian traders.
Australia is one of the best countries in the world for forex trading, with many companies operating in the country. Its financial sector is tightly regulated, and many full-time traders and forex brokers call it their home. The country’s regulated currency trading makes it safer than many other countries. The Australian Securities and Investments Commission’s rules and regulations ensure a safe, efficient industry.
IG markets is an Australian-based company with a great range of offerings. Its app offers commission-free forex trading for more than 17,000 instruments. It also offers CFDs, stocks, and cryptocurrencies. If you’re looking for an app for Australian forex trading, IG may be the right choice for you.