Best Forex Apps Australia – Cheapest Platforms Revealed
Jhonattan Jimenez
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Mobile trading apps are now available from the best online brokers. You can trade financial instruments using the best forex apps for iOS and Android devices. Having said that, before selecting a trading app that meets your needs, you need to do a lot of research.

In this guide, we review the best trading apps to consider in 2023 to point you in the right direction.

Best Forex Apps Australia List

  1. eToro – Overall Best Free Trading App in 2023
  2. Libertex – CFD Trading App with Tight Spreads
  3. AvaTrade – Various resources and educational materials
eToro Forex
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74% of retail investor accounts lose money when trading CFDs with this provider....

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Trading CFDs and FX Options entail risk and could result in the loss of your capital....

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80.18%% of retail investor accounts lose money when trading CFDs with this provider....

Mobile App
Leverage max
Forex pairs
Fees & spreads
1 pip
0.6 pips
1 pip
1 pip
0.6 pips
1 pip
1.8 pips
0.6 pips
0.6 pips
Additional Fee
Continuous Fee
Conversion Fee
0.5% to 1.5%pips
Trading platforms
Ava Options
Raw Materials
Additional characteristics
Islamic Account
Education & Webinars
Charts & Tools
Spread Betting
Automated Trading
Free Forex Signals
Payment methods
Bank Transfer
Credit Card
Sepa Transfer

Best Forex Apps Australia Reviewed

Today, hundreds of trading apps are available for mobile investment. As a result, you will find a provider that meets the financial goals you have.

Finding the best trading app requires considering a few metrics, such as those related to tradable markets, commissions, usability, and regulation.

1. eToro – Overall Best Free Trading App 2023

forex apps

eToro‘s mobile investment app is far and away from the best available. Over 17 million investors use this top-rated platform, which allows you to trade commission-free.

There are no fees associated with opening or maintaining a brokerage account. You will then access thousands of tradeable markets once you complete the 10-minute registration process.

Over 2,400 shares are available from 17 international markets, 250+ ETFs are available, 16 cryptocurrencies are available, and tons of CFD instruments are available. These include everything from gold, silver, and oil to natural gas, wheat, and copper. In addition, this top-rated investment app lets you trade forex, supporting more than 55 pairs.

forex trading apps

You can invest passively by using the eToro trading app’s core features. The Copy Trading tool, for example, allows you to choose from thousands of verified investors and then copy their positions. In addition to investing in diversified portfolios, eToro’s trading app also allows you to manage your portfolios.

This social trading platform app provider also offers a free demo account that includes $100,000 in paper funds. The eToro app is heavily regulated, unlike many trading apps, you’ll find on Google Play and Apple Stores. FCA, ASIC, and CySEC licenses are included.

Additionally, they are registered with FINRA in the United States. You only need to deposit $200 to use eToro as your trading app. With the app, you can add funds to your account directly – using your debit or credit card or an e-wallet like Paypal.

eToro fees

Fee Amount
Stock trading fee Free
Forex trading fee Spread, 0.07%
Crypto trading fee Spread, 0.75% for Bitcoin
Inactivity fee $10 a month after one year
Withdrawal fee $5


  • Easy to use trading platform.
  • Purchase stocks without paying commissions.
  • More than 2,400 stocks and 250 ETFs are available on 17 international exchanges.
  • Trading cryptocurrency, commodities, and forex.
  • Debit/credit cards, eWallets, and bank accounts can all be used to fund your account
  • You can copy other people's trades
  • Regulation by the FCA, CySEC, ASIC, and FINRA


  • Incompatible with technical analysis by advanced traders

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2. Libertex - CFD Trading App with Tight Spreads

best forex appsIn contrast with eToro or Robinhood, Libertex specializes exclusively in CFD instruments. As a result, investing in assets in a conventional sense will not be possible. As opposed to owning the asset, you will be speculating on its future price.

Libertex provides several advantages to its users. For instance, a financial instrument can be bought or sold without paying any spreads with Libertex. Every trader's commission is extremely low, with major assets costing less than 0.1% per slide.

As a professional client, you can gain leverage of up to 1:600, while a retail client will receive leverage of up to 1:100. In addition, traders can trade everything from forex and cryptocurrencies to commodities and stocks using this top-rated trading app.

forex apps for iphone

Libertex is also compatible with MT4 if you wish to place more sophisticated trades. It's simple to log in with your Libertex credentials once you download the MT4 trading platform app. It takes a few minutes to open an account at Libertex.

If you wish to trade with real money, you must deposit a minimum of $100 at Libertex. Debit/credit cards, bank transfers, and e-wallets are accepted payment methods. Libertex has a good reputation for safetCySEC has authorized and regulated it since 1997, and it launched its first proportional trading platform in 1997. EC.

Libertex fees

Fee Amount
Stock trading fee Commission. 0.034% for Amazon.
Forex trading fee Commission. 0.008% for GBP/USD.
Crypto trading fee Commission. 1.23% for Bitcoin.
Inactivity fee $5 a month after 180 days
Withdrawal fee Free


  • CFD trading with zero spreads
  • Low commissions - starting at 0%
  • Excellent educational resources
  • Years of experience
  • Compatibility with MT4
  • Several markets to choose from


  • CFDs only

Your Money Is At Risk.

3. AvaTrade - Various resources and educational materials

best apps for forex tradingAvaTrade was established in 2006 as a CFD and forex broker and is regulated by some leading financial institutions.

AvaTrade offers forex trading and CFDs for commodities, indices, ETFs, and stocks. With AvaTrade, you can trade seven different cryptocurrencies without commissions or transaction fees.

apps for forex trading

Also, the AvaTrade platform offers beginner traders a variety of resources and tools, such as access to over 250 financial instruments, including cryptocurrency trading 24/7, and a free paper trading account for $100,000 worth of virtual funds.

AvaTrade fees

Fee Amount
CFD trading fee Variable spread
Forex trading fee Spread. 0.9 pips for EUR/USD
Crypto trading fee Commission. 0.25% (over-market) for Bitcoin/USD
Inactivity fee $50 per quarter after three months of inactivity
Withdrawal fee Free


  • Low non-trading fees
  • No deposit or withdrawal fees
  • You can open a trading account with a $100 deposit
  • Various resources and educational materials
  • No commissions on trading
  • Demo accounts are available for free.


  • Inactivity fee and administration fee are above average
  • Unable to invest in traditional methods, such as stock
  • Fractional share trading is not permitted

Your Money Is At Risk.

Best Forex Apps Australia - Fee Comparison

Platform Stock trading fee Forex trading fee Crypto trading fee Inactivity fee Withdrawal fee
eToro Free Spread, 0.07% Spread, 0.75% for Bitcoin $10 a month after one year $5
Libertex Commission. 0.034% for Amazon. Commission. 0.008% for GBP/USD. Commission. 1.23% for Bitcoin. $5 a month after 180 days Free
AvaTrade Variable spread Spread. 0.9 pips for EUR/USD Commission. 0.25% (over-market) for Bitcoin/USD $50 per quarter after three months of inactivity Free

How to Choose the Best Forex App Australia for You


No matter what trading app you choose, make sure it is authorized and regulated by a reputable financial body. Considering that many of the trading apps discussed on this page are available globally, the regulator in question doesn't necessarily need to be based in your home country.

  • eToro, which is among our top-rated trading apps in 2023, is regulated by three tier-one bodies.
  • There is regulatory oversight on three fronts, including the FCA (UK), ASIC (Australia), and CySEC (Cyprus).
  • Those in the US can use the eToro trading app as it is registered with FINRA.

You can feel safe knowing that your funds are secure using a regulated trading app. Moreover, you can be confident that the app provider offers fair trading conditions and transparent fees.


In choosing an app provider, you can often find a wide range of assets traded or invested in. As a first step, you need to decide whether you wish to invest in traditional assets like stocks and mutual funds or if you intend to become a short-term day trader.

If the latter is the case, you should probably use a CFD trading platform app. By doing so, you will trade assets on your phone without owning them. As a result, you may have access to thousands of assets, as well as low trading fees and spreads. For example, forex, metals, energies, bonds, interest rates, stocks, indices, etc.

In contrast, if you plan to create a long-term investment strategy, make sure the trading app offers traditional ownership. In other words, you are entitled to receive dividend payments if you invest in stocks, mutual funds, or ETFs. In addition, although you will receive fixed-income coupon payments, that is also true with bonds.

eToro, our most popular trading app, offers both long-term and short-term strategies. That is because it offers thousands of traditional stocks, ETFs, and CFDs.


As soon as you have confirmed that your chosen trading app supports your preferred financial market and strategy, you should investigate how much the fees will be.

There can be a wide variation in the types and amounts of charges that you pay, so we've listed the main charges to keep an eye out for below.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Dealing Fees

Stocks, ETFs, and mutual funds are long-term traditional assets associated with dealing fees. Usually, there is a flat cost per trade charged by the best trading apps - for example, $10.

In other words, regardless of how many stocks you buy, you will always pay $10. Once you cash out your stocks, you will pay $10 again. Although a flat fee may seem appealing at first glance, it won't be if you trade frequently or want to invest small amounts.

You would be paying 25% in commission just to enter the market if you bought $40 worth of stocks at a fee of $10. However, when you sign up for an account at eToro, you won't need to pay anything in dealing fees for stocks, ETFs, or cryptocurrencies.

Commission Fees

You will likely pay a variable commission if you use a CFD trading app. A variable commission depends on your stake.

  • If you stake $500 on gold CFDs and the trading app charges a 0.2% commission, you would pay $1.
  • If, for example, you sold your gold CFD position at $900, you would pay a commission of $1.80.

As a result, we have reviewed the best trading apps on this page, such as eToro and Plus500, that charge no commissions at all when you buy and sell CFD instruments.

Trading Tools & Features

Whether or not your chosen trading app charges commissions, the overnight financing fee must always be factored in if you're accessing CFD markets. This fee is imposed by the trading app each evening that your position remains open.

  • To illustrate, suppose the overnight financing fee kicks in at 11 pm GMT
  • If you open a position on Tuesday at 10 am GMT, the first overnight financing fee will be charged at 11 pm GMT on the same day
  • In that case, the overnight financing fee would reapply at 11 pm GMT if you kept the position open another day

CFDs are leveraged financial products, which means that you only need to stake a small percentage of the asset's value. However, that results in a daily interest

Leverage and Margin Trading

In the case of trading via your phone without access to large amounts of capital, you may want to consider an app that allows leverage.

The ability to leverage your account allows you to trade more than what you currently have in it, as we briefly discussed earlier. Leverage is usually available in top-rated CFD trading apps.

You may be able to receive a specific amount based on the app provider, your location, and the asset class you select.

To give you an idea:

  • The maximum leverage for the UK and European clients is 1:30, meaning you can trade with 30 times the amount in your account.
  • Clients in the United States can trade forex with leverage up to 1:50, despite not trading CFDs.
  • Traders from other parts of the world, such as Asia and the Middle East, can often leverage their accounts by up to 1:1000.
  • Many of the best trading apps on the market will also offer margins on stock investments. Leverage works similarly, although you are not trading CFDs or forex.

Webull, for example, allows you to trade stocks with a margin of up to 4x, resulting in a 4x increase in your purchasing power. However, to be eligible, you must have at least $2,000 in your margin account.

Fractional Stocks

Investing over $3,000 on a single Amazon stock isn't recommended for retail investors. However, it is no longer necessary, as the best trading apps support fractional ownership.

Investing a fraction of a share allows you to own much smaller amounts of shares. eToro allows fractional ownership starting at just $25 for cryptocurrencies and $50 for stocks.

Copy Trading

Automated trading tools are available with the top trading apps of 2023. E Toro, for example, allows you to copy another trader.

If you consider copying a successful stock trader with a stellar record on the platform, you might choose to copy them. You would risk the same amount of your balance as the trader. The result is that you can trade and invest without doing any of the legwork.

eToro Copy Trading is ideal for people without prior experience researching financial instruments. Best of all, this tool is commission-free, allowing you to invest in a commission-free manner.

Education, Research & Analysis

Investors are new to the space, which trading app providers fully acknowledge. In turn, the best apps include a variety of educational tools.

That might include:

  • Guides to training
  • Webinars
  • Market insights
  • Podcasts
  • Trading tips
  • Social trading tools
  • Video explainers
  • Mini-courses

You'll probably need access to research and analysis tools if you already understand how the trading scene works. These trading apps provide a wide variety of features, including technical indicators and chart drawing tools, as well as real-time data feeds and financial news.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

User Experience

Apps for trading can offer very different user experiences. Therefore, you must make sure the application is easy to use and does not hinder investment efforts due to the smaller screen.

In particular, if you are interested in short-term trading rather than investing in the long term, you should consider this. As traders, we refer to those who buy and sell assets on a day-to-day basis or swing trades. But, of course, in the end, you'll be entering and exiting the market with a click of a button, so you won't want to choose an app that is difficult to use.

In a similar vein, if you are a short-term trader, you will perform technical analysis and research pricing trends, which is why a great user experience is essential.

The trading app should make the process of adding stocks or mutual funds to your portfolio seamless, even if it is just a few. A search function should be simple, and placing an order should be simple.

Payment Methods

You will be required to deposit money once you open an account with your chosen trading app. You can do this instantly and - most importantly - via the app with the best trading apps.

eToro, for example, gives you the ability to deposit funds instantly via PayPal, Neteller, Skrill, and other methods.

TD Ameritrade and International Brokers are the only providers discussed on this page that offer traditional bank transfers. The money will need to be manually transferred through your online or mobile bank account.

Customer Service

The support team should be easily accessible whenever you need help with your account.

With the best trading apps, you can easily talk with a support representative in real-time with the help of a Live Chat facility. Also, make sure you know what hours the support team works.

Monday through Friday, most trading app providers provide customer service during standard market hours. In addition, eToro offers support on a 24/5 basis.

Getting Started with the Best Forex App Australia - eToro

Let's look at how you can get started with a trading app if this is your first time. In the following instructions, you will learn how to use eToro, a commission-free trading app. Of course, you are also free to use any other provider you choose.

Step 1: Visit the eToro Website and Open an Account

It is still necessary to open an account with eToro, even if you want to start using the demo trading facility. However, creating an account is simple and takes just a few minutes.

best forex trading apps

You will need to provide the following information after clicking on the 'Join Now' button on the eToro website:

  • Name
  • Home Address
  • Date of Birth
  • Email Address
  • Mobile Number
  • Tax Identification Number
  • Username/Password

Step 2: Download the eToro Trading App

Following registration with eToro, you will be directed to the platform's official download page, depending on your operating system. Android and iOS apps are available.

apps for trading forex

Open the eToro trading app once it has been downloaded and installed.

Step 3: Log In

Logging into your eToro account is now possible through the app. Log into your account by using the username and password you created when you registered.


Step 4: Deposit Funds

The eToro demo account allows you to trade for free after logging into the app. In addition, the app allows you to deposit money directly into your account so you can trade or invest with real money.

forex apps

The following instant deposit methods are available:

  • Debit Cards
  • Credit Cards
  • Paypal
  • Neteller
  • Skrill

Step 5: Investor Trade

You can start trading right after making a deposit using one of the payment methods listed above.

You can find any asset you want by using the search tool at the top of the app screen. The asset library can also be browsed by selecting a particular financial instrument - such as crypto or ETFs.

Then you just need to place an order. Input your stake in US dollars by clicking the 'Trade' button next to the asset. Click 'Open Trade' to place your order.

Best Forex Apps Australia 2023  - Conclusion

The best trading app should take a number of factors into consideration. Among other requirements, the app must have a great reputation and offer competitive fees, in addition to supporting the financial markets you choose.

As well as the tools and features offered, you should also check whether or not the app is easy to use. Based on all of these factors, the best trading app provider in 2023 is eToro.

You can trade commission-free CFDs and invest in traditional assets through the app. Getting started takes just 10 minutes, and it's easy to use. Furthermore, we like the Copy Trading features, which allow you to trade actively while remaining completely passive.

eToro - Overall Best Forex App in Australia with 0% Commission in ETFs

forex trading apps

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.


What is the best Forex app Australia for beginners?

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Jhonattan Jimenez

Jhonattan Jimenez

Jhonattan has been writing crypto and stock trading articles on Trading Platforms for 2 years. Before starting his career as a freelance writer, Jhonattan studied at the Universidad La Gran Columbia from which he graduated in 2019. Jhonattan describes himself as a crypto enthusiast and regularly writes price prediction articles for new projects. During his time as a writer, Jhonattan has gained great knowledge about the crypto space and has mastered technical analysis skills that he uses when writing token price predictions. As well as writing for Trading Platforms, Jhonattan has written for and