The top MT4 brokers in AU
The best MT5 brokers in AU
The best TradingView brokers
The top cTrader brokers in AU
Trade on the go from your phone
Copy professional traders
Find a platform that works for you
Broker Score | Risk Statement | Min. Deposit | Regulation | Trading Desk Type | Trading Instruments | Forex Pairs | Crypto Pairs | Pros | Cons | Regulation | Trading Conditions | Trading Platforms | Deposit & Withdrawal | Education & Research | Assets Available | Customer Service | % Lose with this broker | Leverage | Spread | Hedging | Scalping | Account Types | Islamic Account | Trading Platforms | Funding Methods | Trading Commission | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
84.01 of retail CFD accounts lose money | AUD 20 | Market Maker | Commodities, Cryptocurrencies, Stock CFDs, Forex, Indices | 125 | 111 |
|
| Read Review | 84.01% | 30:1 | 0.60 pips | Yes | Yes | Standard | No | MT4, TradingView, Capital.com | Bank Transfer, Visa, Mastercard, Apple Pay | Fees Included in Spread | ||||||||||
75.33% of retail CFD accounts lose money | AUD 5 | Market Maker | Commodities, Energies, Stock CFDs, Forex, Indices, Metals, Shares | 57 | 0 |
|
| Read Review | 75.33% | 30:1 | 0.60 pips | Yes | Yes | Micro, Standard, XM Ultra Low, XM Zero | Yes | MT4, MT5 | Bank Transfer, Mastercard, Visa, Skrill, Neteller, Fasapay, PerfectMoney, Bitcoin | Fees Included in Spread |
The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.
At FxScouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.
To compare Capital.com and XM, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.
Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.
In our comparison, we found that Capital.com holds three Tier 1 and no Tier 2 licences, and XM holds two Tier 1 and one Tier 2 licences.
Based on these findings, Capital.com earned a higher trust rating than XM.
Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged.
Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that Capital.com and XM have the same trading costs.
Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms.
In this case, 0 offers support for and 0 offers support for .
Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both Capital.com and XM offer copy trading.
A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that Capital.com offers a greater range and depth of instruments to trade than XM. Capital.com offers 125 Forex pairs to trade and XM offers 57 Forex pairs to trade.
In this case, Capital.com offers 111 cryptocurrencies while XM offers 0 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with Capital.com.
Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals.
We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that neither Capital.com nor XM charges a withdrawal fee. Overall, 0 has better deposit and withdrawal processes than 0.
We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas.
Capital.com and XM both have very good educational support. Both Capital.com and XM offer educational support for more experienced traders.
To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field.
We found that 0 offers better research analysis than 0 and that both Capital.com and XM offer frequent webinars.
Only available in Australia since September 2021, Capital.com’s low costs, huge range of instruments, and user-friendly trading platform have quickly made it one of the most popular Forex brokers around. Following our testing for this review, we’re happy to say that we like them too. Capital.com has obviously thought carefully about what traders want from their brokers and has successfully created a welcoming environment for beginners and professionals.
Capital.com offers one live commission-free account, with trading fees significantly lower than other brokers. Spreads average 0.6 pips on the EUR/USD, and no fees are charged for deposits, withdrawals, or inactive accounts. Capital.com also offers one of the widest ranges of instruments available, including over 138 Forex pairs and over 460 cryptocurrencies. All instruments are available on MT4 and Capital.com’s award-winning in-house platform and app. Customer support is available 24/7, and beginners will find that Capital.com’s education and market analysis are some of the best in the industry.
A popular global broker with a large customer base and a good reputation, XM is a good option for most Australian traders. It has a low minimum deposit of 5 USD and some of the lowest fees in the industry on its Ultra Low Account.
For beginners, XM provides excellent research and education and has a beginner-friendly trading app. It also has an outstanding range of trading tools, and its customer service is responsive and well-trained.
Because ASIC regulates XM in Australia, Australian traders can be sure they will be treated fairly. Their funds are segregated at top-tier banks, and they are granted automatic negative balance protection.
This form has double opt in enabled. You will need to confirm your email address before being added to the list.