Brokers

5 Best Australian MetaTrader 4 (MT4) Brokers List

By Stefano Treviso , Updated on: Apr 07 2023.

Here’s our selection of the 5 Best Australian MetaTrader 4 (MT4) brokers for the year 2023:

All the above brokers are required to possess a financial license from ASIC (Australian Securities and Investments Commission). This grants Australian traders a great layer of protection in the event of any dispute as complaints can be dealt with locally.

Each one of these brokers was analysed using our proprietary methodology.

1. FP Markets - Best in most assets offered

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74.34% of retail CFD accounts lose money.

FP Markets is a leading Australian broker with a 10,000+ asset offering accompanied by a great variety of tech options such as deploying your own VPS and accessing ENC / DMA pricing.

FP Markets  holds 3 financial licenses from which 1 belongs to a high tier financial regulator (ASIC). Their specialty is providing more than 10,000+ different financial instruments along with MetaTrader 4 & 5 and IRESS platforms.

FP Markets  is definitely a leader in the Australian market (which is where they are headquartered). Their commissions to trade ASX shares are quite competitive and their asset variety is one of the best. If you’re an Australian share trader, FP Markets is definitely one of the best choices for you. 

2. Pepperstone - Best overall choice

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74-89% of retail CFD accounts lose money.

Pepperstone is an Australian broker founded in 2010 with the aim of providing a professional trading experience with low fees and tight spreads. Currently Pepperstone counts with 7 financial licenses and operates in almost every country around the world.

Pepperstone holds 7 financial licenses from which 4 belong to high tier financial regulators (being one of them ASIC). Their specialty is providing a true multi-platform environment with several account offers for each type of trader.

Pepperstone is one of the industry leaders when it comes to competitive commissions. Their account offering allows traders to choose between having no commissions along with competitive spreads or a commission-driven approach along with RAW spreads starting from 0 pips. If you’re looking for an Australian MetaTrader 4 broker that allows you to trade a wide variety of assets with excellent conditions in your favourite trading platform, Pepperstone can be a great choice for you.

3. IC Markets - Best in competitive commissions

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76.27% of retail CFD accounts lose money.

IC Markets is an Australian broker with a global presence specialising in Forex trading. One of their greatest advantages is providing RAW spread accounts with interbank pricing.

IC Markets holds 3 financial licenses from which 1 belongs to a high tier financial regulator (ASIC). Their specialty is providing a competitive low spreads environment with the option to pay commissions in exchange for spreads from 0 pips or not paying any commissions in exchange for very competitive spreads.

IC Markets is also one of the most competitive brokers in the multi-platform arena. Their offer is quite similar to Pepperstone’s yet the main difference between both is that Pepperstone has the edge by providing TradingView as one of their platform choices and also having ETFs as an asset class. On the other hand, IC Markets has a larger number of stocks as well.

If you’re looking for great trading conditions on MetaTrader 4 and a moderately large number of stocks, IC Markets can be a great choice for you.

4. Blueberry Markets - Best for beginners 

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74-89% of retail CFD accounts lose money.

Blueberry Markets is a young Australian broker founded in 2015 offering CFDs on all the basic asset classes with competitive low spreads.

Blueberry Markets holds 2 financial licenses from which 1 belongs to a high value financial regulator (ASIC). Their specialty was crafting an extremely simple offer that appeals to beginners in the currency trading arena.

Blueberry Markets has several educational materials, excellent customer support and a simple account offering with low commissions and spreads from 0 pips and no commissions and competitive spreads. If you’re a beginner that wants to exclusively get started on MetaTrader 4, they are an interesting choice to consider, yet, it’s very important to note that their asset offering is extremely limited and you may find yourself outgrowing them quite quickly.

5. AvaTrade - Best for experienced currency options traders

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71% of retail CFD accounts lose money.

AvaTrade is a top-tier multinational broker with more than 7 financial regulators specialising in FX and options trading with their own proprietary platforms.

AvaTrade holds 8 financial licenses from which 6 belong to high reputation financial regulators. Their specialty was creating their own proprietary currency trading platform.

AvaTrade’s biggest selling point is providing currency options, which is a not so common financial instrument in the majority of mainstream brokers. Professional traders know the value of using options as a high risk/reward speculative trading strategy or as a hedge for different currency portfolios. If you’re experienced and you know what you’re doing, then AvaTrade can be an interesting choice for you.