Dealing with a broker under the Australian Securities and Investments Commission (ASIC) is a solid choice as it ensures a high level of regulatory oversight and client protection.
We have compiled a list of eight top-tier ASIC-regulated brokers, ranked by their minimum deposit with details on account types and trading conditions.
Details and conditions
Here is a closer look at each of the brokers, detailing their offerings and trading environment.
GO Markets
Minimum first-time deposit: $0
Details: There’s no minimum for funding a live account, ideal for beginners who wish to start with a small amount.
Deposit/withdrawal fees: None
Account types: Standard and GO Plus+
Trading conditions: The Standard account offers commission-free trading with spreads from 0.8 pips. The GO Plus+ account features raw spreads from 0.0 pips plus a commission of $5 per lot round turn.
IG
Minimum first-time deposit: $0
Details: You can fund with any amount via bank transfer, though cards, Apple Pay and PayPal have a minimum of $50 or A$100.
Deposit/withdrawal fees: None. However, a fee of A$15 is charged for same-day bank transfers, which also requires a minimum amount of A$2,000. International bank transfer withdrawals may incur a fee of $15.
Account types: CFD Account
Trading conditions: CFD account has spreads from 0.6 pips with no commission.
CMC Markets
Minimum first-time deposit: $0
Details: While card deposits may have a technical minimum, bank transfers have none.
Deposit/withdrawal fees: 1% charge for credit card and 0.6% for debit cards. Additional charges may apply to international bank transfers.
Account types: CFD and FX Active Account
Trading conditions: Spreads starting from 0.6 pips for the standard CFD account with no commission. The FX Active account offers raw spreads from 0.0 pips plus a commission of $5 per lot round turn.
Pepperstone
Minimum first-time deposit: $0
Details: Pepperstone has no minimum deposit to open a live account, but they recommend $200 to ensure you have sufficient margin to place trades.
Deposit/withdrawal fees: None. International bank transfers may incur a fee of $20.
Account types: Standard and Razor
Trading conditions: The Standard account is commission-free with spreads from 1.0 pips. The Razor account offers spreads from 0.0 pips plus a commission of $7 per lot round turn.
XM Australia
Minimum first-time deposit: $5
Details: XM’s Australian entity offers one of the lowest entry points among ASIC brokers.
Deposit/withdrawal fees: None. XM covers all deposit and withdrawal transfer fees, except for bank wire transfers below $200, which may incur a fee.
Account types: Ultra Low and Zero
Trading conditions: The Ultra Low offers commission-free trading with spreads from 0.8 pips. The Zero account has spreads from 0.0 pips, plus a commission of $7 round turn per lot.
Fusion Markets
Minimum first-time deposit: $10
Details: $10 for most methods such as bank transfer, cards and cryptos. Some local payment providers (FPX, DuitNow or DurianPay) may require $20-$50 as minimum. Pix in BRL and PayID in AUD need only $1 and A$1 respectively.
Deposit/withdrawal fees: None for most methods. However, international bank transfer withdrawals may incur a fee of $20.
Account types: Zero and Classic
Trading conditions: The Zero account offers raw spreads from 0.0 pips plus a commission of $4.50 round turn per lot. The Classic account is commission-free with spreads starting from 0.9 pips.
ACY Securities
Minimum first-time deposit: $50
Details: The minimum deposit depends on the account type. The Basic has a minimum of $50, the Standard $100 and the ProZero requires $200.
Deposit/withdrawal fees: None. Traders have 5 free withdrawals per month, after which a $25 fee applies per withdrawal.
Account types: Basic, Standard and ProZero
Trading conditions: The Basic and Standard accounts are commission-free with spreads from 1.0 pips. The ProZero offers raw spreads from 0.0 pips plus a commission of $6 per lot round turn.
FP Markets
Minimum first-time deposit: $50
Details: $50 is the minimum to open a live trading account, a reasonable entry point for a broker known for its strong pricing and fast execution.
Deposit/withdrawal fees: None for most methods. 1% up to $30 for e-wallets such as Skrill and Neteller.
Account types: Standard and Raw
Trading conditions: The Standard account is commission-free with spreads from 1.0 pips. The Raw account offers raw spreads from 0.0 pips plus a commission of $6 per standard lot round turn.
See below a recap of the brokers in our selection.
| Broker | Min. first deposit | Withdrawal fee |
|---|---|---|
| GO Markets | $0 | None |
| IG | $0 | None / $15 (Same-day) |
| CMC Markets | $0 | 1% for credit and 0.6% for debit cards |
| Pepperstone | $0 | None |
| XM Australia | $5 | None (except for bank wires under $200) |
| Fusion Markets See profile | $10 | None |
| ACY Securities See profile | $50 | None |
| FP Markets See profile | $50 | None |