What a spread is, and what it costs you

A spread is the gap between the price you can buy at and the price you can sell at, quoted in pips. It is charged the moment a position opens, which is why it is the one cost every trade pays whether it wins or loses.

A spread alone does not say what a trade costs. An account with a 0.0-pip raw spread usually charges commission per lot instead, and an account with a 1.2-pip spread usually charges none. The comparable figure is the round turn - spread plus commission for one lot, in and out - and that is what the tables here rank on.

The ten below are the brokers in Australia publishing the tightest EUR/USD spread for a standard account. They are ordered by the figure they publish, not by preference, and a broker that publishes no spread is not on the list at all.

EUR/USD spread, pips (73 of 76 · median 1 pips)

33<1
371-2
22-3
13-4
04+

Affiliate links: we earn a commission; it never changes scores or order. CFDs are high-risk and leverage can lose you money rapidly.

Key facts (62 of 76 counts · 64 brokers onboarding Australian residents)

62of 76
qualify for this ranking
82% of 76
59of 62
scored on all six axes
95% of 62
73of 76
publish a price
96% of 76
42of 76
publish a leverage figure for this country
55% of 76

Top 3 (of 3 ranked)

What a spread is, and what it costs you (62 of 76)

By slice score, formula v1.0. · 62 of 64 brokers in this ranking · all 62
#BrokerRound turn, USDAUMin deposit, USDAULeverageWithdrawal, hAUScoreExecutionFoundedFunding
14.8030AU14.63ECN/raw + standard20172 methods · local
27200 group30AU244.61ECN/raw + standard20073 methods · local
370500AU24.55ECN/raw + standard20102 methods · local
4620 AUD30AU244.54Standard20082 methods
58100—stated, not verified244.54Standard20063 methods · local
612——stated, not verified—4.51Standard20012 methods · local
76—30AU244.47ECN/raw + standard20064 methods · local
86—2000 groupAU244.46ECN/raw + standard2010—
97—30AU244.45ECN/raw + standard20103 methods
106—30AU484.43ECN/raw + standard2005—
116—500AU244.42ECN/raw + standard2014—
122——stated, not verified484.42ECN/raw + standard19903 methods · local
136—30AU244.42Standard20112 methods · local
147030AU244.4ECN/raw + standard20072 methods · local
15710030AU244.38ECN/raw + standard20163 methods
166—30AU244.38ECN/raw + standard2009—
177—500AU724.33ECN/raw + standard20053 methods · local
187——stated, not verified244.33ECN/raw + standard2014—
195—30AU—4.33Standard20143 methods
2071530AU244.31ECN/raw + standard2013—
21550—stated, not verified724.29ECN/raw + standard20094 methods · local
226—30AU244.19ECN/raw + standard20013 methods · local
235——stated, not verified484.19ECN/raw + standard1978—
247100 group30AU484.17ECN/raw + standard2009—
2550 group200 groupAU484.16ECN/raw + standard1989113 methods
2678 AUD30AU244.14ECN/raw + standard20092 methods · local
27510 group1000AU0.254.14ECN/raw + standard20064 methods
28610 group2000AU0.174.13ECN/raw + standard2004—
293.5—200AU34.11ECN/raw + standard2006—
30——500AU244.02ECN/raw + standard1998—
31925 group500AU34.01ECN/raw + standard20112 methods
3210——stated, not verified484.01Standard20071 methods · local
336—30AU723.97Standard20082 methods · local
346—1000AU723.97ECN/raw + standard20182 methods · local
356100500 groupAU723.96ECN/raw + standard20153 methods · local
365—1000AU243.93ECN/raw + standard20053 methods · local
377—1000AU243.92ECN/raw + standard2008—
387—30AU723.87ECN/raw + standard20143 methods · local
396—500 groupAU723.86ECN/raw + standard20141 methods
401.5—500 groupAU243.85ECN/raw + standard20052 methods · local
41520 group30AU243.81ECN/raw + standard1977—
427—1000 groupAU243.79ECN/raw + standard2010—
436——stated, not verified1203.79ECN/raw + standard19963 methods · local
448—200AU483.77ECN/raw + standard20043 methods
457——stated, not verified243.77ECN/raw + standard20142 methods · local
46650 group1000 groupAU243.77ECN/raw + standard2019—
473——stated, not verified0.53.76ECN/raw + standard20233 methods · local
48—1 group5000AU73.71ECN/raw + standard20073 methods
498—200 groupAU243.69ECN/raw + standard20122 methods · local
5013.610030AU1203.68ECN/raw + standard19743 methods
519——stated, not verified243.67Standard19922 methods · local
524100 group5000 groupAU243.66ECN/raw + standard2020—
5318—200AU2403.63ECN/raw + standard2010—
546.5—300 groupAU243.6ECN/raw + standard20163 methods
5565 group5000AU723.58ECN/raw + standard2019—
568—1000 groupAU243.58ECN/raw + standard1988—
578—500 groupAU243.56ECN/raw + standard1998—
585.5—1000AU1203.55ECN/raw + standard2014—
5916——stated, not verified243.5ECN/raw + standard19963 methods
60510 group2000AU243.37ECN/raw + standard20123 methods · local
6118—1000AU243.14Standard2021—
6220—30AU1202.96Standard20133 methods · local
Ten are shown; the button opens the rest.

"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.

— the broker does not publish this figure; it is not read as a zero and it is not scored.

Plus500 publishes a retail leverage of 1:30 without naming the entity that grants it, so the figure is marked group and left out of the leverage ranking and median.

The ten above illustrate the term. Brokers with the lowest spreads in Australia lists every broker that qualifies, with the figure each one publishes.

Identical for every row, so it is stated once: Who onboards Local · ASIC · Swap-free fee none, no limit · AUD account Yes.

1. Fusion Markets — highest score of the three · cheapest priced of the three · locally licensed (score 4.63)

Round turn
4.8 USD
Withdrawal
under 1 hour; up to 1 business day
AUD account
AUD, USD, EUR
Leverage
30AU
Accepts residents
yes
Onboarding entity
FMGP Trading Group Pty Ltd
Founded
2017
Group leverage
uncleargroup
Instruments
Forex, CFDs, shares
Platforms
MT5cTraderWebTradingView
Funding
Cards and bank transfer
Not served
Afghanistan, Democratic Republic of Congo, Republic of Congo, Iran, Iraq, Japan, Myanmar, New Zealand, North Korea, Palestine, Russia, Spain, Somalia, Sudan, Syria, Ukraine, Yemen, United States, American Samoa, Guam, Northern Mariana Islands, Puerto Rico, US Minor Outlying Islands, US Virgin Islands
  • Reviews25%85
  • Round-turn cost20%100
  • Safety
  • Payouts15%99
  • Track record10%45
  • Platforms70
Why it ranks here

Round turn 4.8 USD against the slice median 6 USD. strongest axis round-turn cost 100 of 100. total score 4.63.

Watch for

Payouts axis 58 of 100; e-wallet times not published.

Full review of Fusion Markets

2. IC Markets — locally licensed · withdrawal in 24 h (score 4.61)

Round turn
7 USD
Withdrawal
within 1 working day (and typically 3-5 business days for bank transfers to be credited)
AUD account
AUD USD EUR
Leverage
30AU
Accepts residents
yes
Onboarding entity
IC Markets Australia Pty Ltd
Founded
2007
Group leverage
unclear
Instruments
Forex shares indices crypto
Platforms
MT5MT4Web
Funding
Domestic transfer cards PayPal
Not served
United States of America, Canada, New Zealand, Iran, North Korea (Democratic People's Republic of Korea)
    Why it ranks here

    Round turn 7 USD against the slice median 6 USD. strongest axis track record 95 of 100. total score 4.61.

    Watch for

    Min deposit 200 USD, double the Australia median of 50; withdrawal time not published.

    Full review of IC Markets

    3. Global Prime — locally licensed · withdrawal in 2 h (score 4.55)

    Round turn
    7 USD
    AUD account
    AUD USD GBP EUR CAD SGD JPY
    Leverage
    500AU
    Licence
    385620
    Accepts residents
    yes
    Onboarding entity
    FMGP Trading Group Pty Ltd
    Founded
    2010
    Group leverage
    uncleargroup
    Instruments
    Forex CFDs and more
    Platforms
    MT5WebMobile
    Funding
    Bank wire and card
    Not served
    United States, Ontario (Canada), Japan, New Zealand, North Korea, Iran, Iraq, Syria, Russia, Ukraine, Yemen
      Why it ranks here

      Round turn 7 USD against the slice median 6 USD. strongest axis payouts 98 of 100. total score 4.55.

      Watch for

      Onboards Australian residents through an offshore entity: no ASIC licence, no ASIC complaints route, no AUD account.

      Full review of Global Prime

      What the data shows(62 of 76 distributions · 64 brokers)

      Swap-free availability (62 of 76 brokers)

      68%30/44
      Offered30Not offered14

      Admin fee after the free period (62 of 76 swap-free)

      53%16/30
      Never16After 3–30 days9not published5

      Who onboards Australian residents (62 of 76 brokers)

      45%20/44
      Local ASIC entity20Offshore entity24

      AUD account (62 of 76 brokers)

      36%16/44
      Yes16No23not published5

      Round turn, one lot, USD (73 of 76 · median 6 USD)

      9<5
      575-10
      310-15
      315-20
      120+

      Full list(62 of 76)

      1. 1Fusion Markets4.63
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        4.8
        Min deposit, USD
        0
        Leverage
        30AU
        AUD
        Yes
      2. 2IC Markets4.61
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        7
        Min deposit, USD
        200 group
        Leverage
        30AU
        AUD
        Yes
      3. 3Global Prime4.55
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        7
        Min deposit, USD
        0
        Leverage
        500AU
        AUD
        Yes
      4. 4Capital.com4.54
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        6
        Min deposit, USD
        20 AUD
        Leverage
        30AU
        AUD
        Yes
      5. 5AvaTrade4.54
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        8
        Min deposit, USD
        100
        AUD
        Yes
      6. 6Forex.com4.51
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        12
        AUD
        Yes
      7. 7GO Markets4.47
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        6
        Leverage
        30AU
        AUD
        Yes
      8. 8HFM4.46
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        6
        Leverage
        2000 groupAU
        AUD
        Yes
      9. 9Pepperstone4.45
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        7
        Leverage
        30AU
        AUD
        Yes
      10. 10MultiBank Group4.43
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        6
        Leverage
        30AU
        AUD
        Yes
      11. 11Tickmill4.42
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        6
        Leverage
        500AU
        AUD
        Yes
      12. 12Hantec Markets4.42
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        2
        AUD
        Yes
      13. 13Mitrade4.42
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        6
        Leverage
        30AU
        AUD
        Yes
      14. 14Axi4.4
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        7
        Min deposit, USD
        0
        Leverage
        30AU
        AUD
        Yes
      15. 15Blueberry Markets4.38
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        7
        Min deposit, USD
        100
        Leverage
        30AU
        AUD
        Yes
      16. 16FBS4.38
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        6
        Leverage
        30AU
        AUD
        Yes
      17. 17FP Markets4.33
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        7
        Leverage
        500AU
        AUD
        Yes
      18. 18Doo Prime4.33
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        7
        AUD
        Yes
      19. 19Trade Nation4.33
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        5
        Leverage
        30AU
        AUD
        Yes
      20. 20TMGM4.31
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        7
        Min deposit, USD
        15
        Leverage
        30AU
        AUD
        Yes
      21. 21Vantage4.29
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        5
        Min deposit, USD
        50
        AUD
        Yes
      22. 22Admirals4.19
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        6
        Leverage
        30AU
        AUD
        Yes
      23. 23Interactive Brokers4.19
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        5
        AUD
        Yes
      24. 24Eightcap4.17
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        7
        Min deposit, USD
        100 group
        Leverage
        30AU
        AUD
        Yes
      25. 25CMC Markets4.16
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        5
        Min deposit, USD
        0 group
        Leverage
        200 groupAU
        AUD
        Yes
      26. 26XM4.14
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        7
        Min deposit, USD
        8 AUD
        Leverage
        30AU
        AUD
        Yes
      27. 27Grand Capital4.14
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        5
        Min deposit, USD
        10 group
        Leverage
        1000AU
        AUD
        Yes
      28. 28FreshForex4.13
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        6
        Min deposit, USD
        10 group
        Leverage
        2000AU
        AUD
        Yes
      29. 29FxPro4.11
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        3.5
        Leverage
        200AU
        AUD
        Yes
      30. 30CFI4.02
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Leverage
        500AU
        AUD
        Yes
      31. 31OctaFX4.01
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        9
        Min deposit, USD
        25 group
        Leverage
        500AU
        AUD
        Yes
      32. 32eToro4.01
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        10
        AUD
        Yes
      33. 33Plus5003.97
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        6
        Leverage
        30AU
        AUD
        Yes
      34. 34Moneta Markets3.97
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        6
        Leverage
        1000AU
        AUD
        Yes
      35. 35VT Markets3.96
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        6
        Min deposit, USD
        100
        Leverage
        500 groupAU
        AUD
        Yes
      36. 36LiteFinance3.93
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        5
        Leverage
        1000AU
        AUD
        Yes
      37. 37NordFX3.92
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        7
        Leverage
        1000AU
        AUD
        Yes
      38. 38ATFX3.87
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        7
        Leverage
        30AU
        AUD
        Yes
      39. 39BlackBull Markets3.86
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        6
        Leverage
        500 groupAU
        AUD
        Yes
      40. 40FXOpen3.85
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        1.5
        Leverage
        500 groupAU
        AUD
        Yes
      41. 41HYCM3.81
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        5
        Min deposit, USD
        20 group
        Leverage
        30AU
        AUD
        Yes
      42. 42FXChoice3.79
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        7
        Leverage
        1000 groupAU
        AUD
        Yes
      43. 43OANDA3.79
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        6
        AUD
        Yes
      44. 44Dukascopy3.77
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        8
        Leverage
        200AU
        AUD
        Yes
      45. 45Equiti3.77
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        7
        AUD
        Yes
      46. 46Errante3.77
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        6
        Min deposit, USD
        50 group
        Leverage
        1000 groupAU
        AUD
        Yes
      47. 47Headway3.76
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        3
        AUD
        Yes
      48. 48InstaForex3.71
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Min deposit, USD
        1 group
        Leverage
        5000AU
        AUD
        Yes
      49. 49CMTrading3.69
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        8
        Leverage
        200 groupAU
        AUD
        Yes
      50. 50IG Markets3.68
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        13.6
        Min deposit, USD
        100
        Leverage
        30AU
        AUD
        Yes
      51. 51Saxo Bank3.67
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        9
        AUD
        Yes
      52. 52Exinity3.66
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        4
        Min deposit, USD
        100 group
        Leverage
        5000 groupAU
        AUD
        Yes
      53. 53IronFX3.63
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        18
        Leverage
        200AU
        AUD
        Yes
      54. 54CAPEX3.6
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        6.5
        Leverage
        300 groupAU
        AUD
        Yes
      55. 55FXGT3.58
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        6
        Min deposit, USD
        5 group
        Leverage
        5000AU
        AUD
        Yes
      56. 56Windsor Brokers3.58
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        8
        Leverage
        1000 groupAU
        AUD
        Yes
      57. 57Alpari3.56
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        8
        Leverage
        500 groupAU
        AUD
        Yes
      58. 58XChief3.55
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        5.5
        Leverage
        1000AU
        AUD
        Yes
      59. 59Swissquote3.5
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        16
        AUD
        Yes
      60. 60BDSwiss3.37
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        5
        Min deposit, USD
        10 group
        Leverage
        2000AU
        AUD
        Yes
      61. 61T4Trade3.14
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        18
        Leverage
        1000AU
        AUD
        Yes
      62. 62Fortrade2.96
        Onboards
        Local · ASIC
        Swap-free
        none, no limit
        Round turn, USD
        20
        Leverage
        30AU
        AUD
        Yes

      How to read the ten below

      1. Start with the figure this page ranks on.

        Every row here is ordered by computed score, highest first; unscored brokers follow. A broker that publishes no figure is shown without one rather than guessed at.

      2. Check which company would onboard you.

        The same brand can take a resident of Australia through a locally licensed entity or an offshore one, and the leverage cap, the complaint route and the protection all follow the entity, not the brand.

      3. Read the cost beside the deposit.

        The median round turn across this country is 6.0 USD and the median minimum deposit 15.0 USD; a low deposit beside a wide spread takes the difference back on every trade.

      Neighbouring slices(6 rankings · 4 explainers)

      FAQ

      How many brokers qualify for this ranking in Australia?
      62 of 76 brokers measured for this country qualify.
      Which broker leads it, and on what basis?
      Fusion Markets leads it with a score of 4.63. The order is computed score, highest first; unscored brokers follow.
      What does a trade typically cost here?
      The median round turn - spread plus commission for one standard lot, in and out - is 6.0 USD across the brokers that publish both parts.
      Why do some rows show a dash instead of a figure?
      Because the broker does not publish that figure for this country. A dash is a statement about what is published, and a figure is never filled in from a group-wide page as if it applied locally.
      Why are only ten brokers shown here?
      This page explains the term; the ten illustrate it. The full ranking lists 62 of 76 and is one click away.

      How this slice is scored

      Slice score = 2 + 3 × weighted mean of the six axes; the swap-free fee and availability feed price and reliability. A missing axis drops out and weights are renormalised; group-wide figures never enter. Full methodology

      Verified · What changed · Sources(62 of 76 broker records)

      Verified01.10.2026
      data re-captured 28.09.2026

      Risk warning and affiliate disclosure

      CFDs are complex instruments with a high risk of losing money rapidly due to leverage. A swap-free account removes overnight interest, not market risk. We earn a commission on some links; paid rows are marked and never ranked first.