Lowest Commission Forex Brokers in Australia (2026)

Quick verdict: lowest commission AU brokers ranked

Commission accounts are where you pay the broker a fixed fee per lot traded and get spreads close to the underlying market. For active forex traders, this almost always works out cheaper than a spread-only Standard account. The seven brokers below all hold an Australian Financial Services Licence and quote commission in Australian dollars on a round-turn standard lot (100,000 units of base currency).

• Fusion Markets Zero: AUD 4.50 round-turn. The lowest published commission of any ASIC-regulated broker we cover.
• IC Markets cTrader RAW: AUD 6 round-turn on cTrader, AUD 7 on MT4/MT5.
• FP Markets RAW: AUD 6 round-turn on cTrader, AUD 7 on MT4.
• Pepperstone Razor: AUD 7 round-turn across all platforms.
• Eightcap RAW: AUD 7 round-turn.
• Global Prime ECN: AUD 7 round-turn.

The headline number isn’t the whole story. Total cost is commission plus the live spread, and we’ve broken that out in the comparison table below. We’ve also flagged where commission tiers drop for active traders, where AUD denomination changes the maths, and where ASIC’s fee disclosure rules under the Product Disclosure Statement (PDS) regime force brokers to publish all of this in one place.

Comparison table (May 2026)

Broker	Account	Commission AUD round-turn (1 lot)	EUR/USD typical spread	Total cost equivalent
Fusion Markets	Zero	AUD 4.50	0.10 pips	~0.55 pips
IC Markets	cTrader RAW	AUD 6	0.06 pips	~0.66 pips
FP Markets	RAW (cTrader)	AUD 6	0.10 pips	~0.70 pips
IC Markets	RAW Spread (MT4/MT5)	AUD 7	0.06 pips	~0.76 pips
Pepperstone	Razor	AUD 7	0.06 pips	~0.76 pips
Eightcap	RAW	AUD 7	0.10 pips	~0.80 pips
FP Markets	RAW (MT4)	AUD 7	0.10 pips	~0.80 pips
Global Prime	ECN	AUD 7	0.10 pips	~0.80 pips

Commission figures sourced from each broker’s PDS and live account screens, May 2026. Spread averages are from broker-published month-to-date data. Total cost equivalent calculated at AUD/USD 0.65: AUD 7 round-turn = roughly 0.70 pips on EUR/USD.

The total-cost column is the one that matters. A AUD 7 commission with a 0.06 pip spread on EUR/USD is cheaper than a AUD 4.50 commission with a 0.30 pip spread on the same pair. Always compare the all-in number, not the headline.

Top low-commission brokers ranked

1. Fusion Markets Zero: AUD 4.50 round-turn

Fusion Markets is an Australian-owned broker holding AFSL 385620, headquartered in Melbourne. The Zero account commission of AUD 4.50 round-turn per standard lot is the lowest published in our 30-broker shortlist. There is no minimum deposit and no inactivity fee. Spreads on EUR/USD typically run from 0.10 pips on the Zero account, putting total cost equivalent around 0.55 pips at current AUD/USD levels.

The trade-off is platform breadth. Fusion runs MT4, MT5, cTrader and TradingView, but the in-house tooling is lighter than Pepperstone or IC Markets. Liquidity providers are smaller in number than the major ASIC brokers. For active forex scalpers chasing the lowest possible cost per round-turn, Fusion is the broker to beat. Read the full Fusion Markets review.

2. IC Markets cTrader RAW: AUD 6 round-turn

IC Markets holds AFSL 335692 and is one of the highest-volume ASIC-regulated brokers by reported daily turnover. The cTrader RAW account charges AUD 6 round-turn per standard lot, with EUR/USD spreads from 0.06 pips. The MT4/MT5 RAW Spread account charges AUD 7 round-turn at the same headline spread. Both routes connect to IC’s institutional liquidity stack.

cTrader on IC Markets is the cheaper combination if your strategy fits the cTrader execution model. If you’re committed to MT4 EAs, the AUD 7 pricing is still competitive with Pepperstone Razor. Active traders trading more than 100 lots per month should ask about volume-based commission rebates, which aren’t published but exist on request. Full IC Markets review.

3. Pepperstone Razor: AUD 7 round-turn

Pepperstone (AFSL 414530, Melbourne-founded 2010) charges AUD 7 round-turn on the Razor account across MT4, MT5, cTrader, TradingView and the proprietary Pepperstone Trading Platform. EUR/USD spreads from 0.06 pips. Total cost equivalent is around 0.76 pips at AUD/USD 0.65.

The Active Trader rebate programme drops commission to roughly AUD 5 round-turn at the top tier (>500 lots/month). For traders who don’t hit those volumes, Pepperstone’s strength is breadth: more platforms on a single account than any other AU broker, and execution speeds that consistently rank top-three in our latency testing. Full Pepperstone review.

4. FP Markets RAW: AUD 6 cTrader, AUD 7 MT4

FP Markets (AFSL 286354) is a Sydney-based broker with strong institutional liquidity. The RAW account charges AUD 6 round-turn on cTrader and AUD 7 on MT4. EUR/USD typical spreads start at 0.10 pips. Iress is also offered for traders wanting direct market access on equities, though Iress carries its own fee structure separate from forex.

FP’s commission pricing is functionally identical to IC Markets across most accounts. Choose between them on platform preference, execution data and customer support experience rather than the headline commission alone. Full FP Markets review.

5. Eightcap RAW: AUD 7 round-turn

Eightcap (AFSL 391441) is another Melbourne-headquartered broker. The RAW account charges AUD 7 round-turn per standard lot with EUR/USD spreads from 0.10 pips. Eightcap also offers TradingView native trading and a strong crypto CFD range, which is unusual at this price point. Commission pricing is identical to Pepperstone Razor on the headline number; Eightcap’s spreads on minor pairs and crypto are sometimes wider.

For traders who want TradingView integration on a low-cost commission account, Eightcap is one of the few options in Australia. Full Eightcap review.

6. Global Prime ECN: AUD 7 round-turn

Global Prime (Sydney-based, AFSL 385620) charges AUD 7 round-turn on its ECN account. The broker publishes execution receipts on every trade, which is rare in the AU market and useful if you want to audit execution quality. EUR/USD spreads from 0.10 pips on average. Platforms are MT4, MT5 and a proprietary trade copier.

Global Prime has a smaller client base than the brokers above and a more boutique feel. Customer service tends to be more direct as a result. Worth a look for traders who value execution transparency over brand size. Full Global Prime review.

How commission works

Commission on a forex trade is a fixed fee charged by the broker each time you open or close a position. It’s separate from the spread. The two together make up your total cost of trading.

Round-turn vs per-side

Round-turn means commission charged on the full trade cycle: opening and closing the position. Per-side means the figure quoted is for one half of the trade only, and you’ll pay it again when you close. Always check which one a broker is quoting. AUD 7 round-turn is the same as AUD 3.50 per side. AUD 7 per side is double the cost of AUD 7 round-turn.

In Australia, most brokers quote round-turn on their public pages because it’s the more accurate per-trade number. Some MT4 platforms still display per-side internally because the platform charges commission at order open and again at order close. The figures in our comparison table above are all round-turn.

Standard lot vs micro lot

A standard lot is 100,000 units of the base currency. A mini lot is 10,000 units (0.10 of a standard lot). A micro lot is 1,000 units (0.01 of a standard lot). Commission scales with lot size: if Pepperstone charges AUD 7 per standard lot, a mini lot costs AUD 0.70 round-turn and a micro lot costs AUD 0.07 round-turn.

This matters for retail traders who size positions in mini or micro lots. A AUD 7 commission sounds heavy until you realise you might only be trading 0.10 lots, where the actual cost is AUD 0.70. Always work out your real per-trade commission based on your typical position size, not the headline figure.

AUD vs USD denomination

Some brokers quote commission in USD by default, particularly on MT4 and MT5 servers configured for global clients. If your account is denominated in AUD, that USD commission gets converted at the broker’s internal rate. Pepperstone, IC Markets, FP Markets and Fusion Markets all support AUD-denominated accounts, where the commission is charged directly in AUD with no conversion step.

Holding an AUD account when you trade primarily AUD pairs (AUD/USD, AUD/JPY, AUD/NZD) saves you the currency conversion fee on the commission, which can otherwise be 0.30% to 0.70% depending on the broker. It’s a small line item, but it adds up across thousands of round-turns per year.

Commission vs spread: when commission is the cheaper choice

The straight answer: commission accounts almost always work out cheaper if you trade more than a handful of times per month. Here’s the maths.

A Standard (spread-only) account on EUR/USD typically charges 1.0 to 1.2 pips. On a standard lot, 1 pip is roughly USD 10, so a 1.0 pip spread costs around USD 10 (or AUD 15 at 0.65). Round-turn cost on a Standard account: AUD 15.

A RAW account on the same pair charges 0.06 to 0.10 pips of spread plus AUD 7 commission. Spread cost: roughly AUD 1. Commission: AUD 7. Total: AUD 8.

That’s a 47% saving per round-turn. If you place 50 trades per month at standard lot size, you save AUD 350 per month on the RAW account. If you trade smaller (mini or micro lots), the absolute saving is smaller but the percentage is the same.

The commission account loses its edge only when you trade rarely (one or two trades per week) and don’t want the cognitive load of tracking commission as a separate line. In that case, the Standard account’s spread-only simplicity is worth the small premium. For everyone else, commission wins.

Other broker fees AU traders should watch

Commission is the most visible fee on a RAW account, but it’s not the only cost. Five others worth checking before you commit:

• Overnight swap rates: applied to positions held past 5 PM New York time. Direction-dependent. Some pairs pay you a credit for holding (positive carry); others charge you. Check the swap table on each broker’s website. The numbers vary surprisingly between brokers on the same pair.
• Currency conversion fee: typically 0.30% to 0.70% if you trade an instrument denominated in a different currency from your account base. AUD-denominated accounts trading AUD pairs avoid this entirely.
• Withdrawal fees: most ASIC brokers charge nothing for AUD withdrawals via PayID, BPAY or bank transfer. International wire withdrawals (USD, GBP) sometimes incur a flat fee. PayPal withdrawals sometimes attract a percentage.
• Inactivity fees: applied to dormant accounts. CMC charges AUD 15 per month after 12 months. Pepperstone, Fusion and Eightcap don’t charge inactivity fees as of May 2026. Always check the latest PDS.
• Guaranteed stop-loss premium: only relevant if you use guaranteed stops. CMC charges a premium when triggered; refunded if the stop never fires.

The ASIC Product Disclosure Statement requirement means every broker has to publish all of these fees in one place. You can find them at the bottom of any broker’s website under “Legal Documents” or “PDS”. If you can’t find a fee schedule, that’s a red flag.

ASIC rules: fee transparency, not commission caps

ASIC doesn’t cap commission rates on forex CFDs in Australia. There is no equivalent of the leverage cap (30:1 on majors under the Product Intervention Order) for fees. What ASIC does require is full disclosure of every fee, charge and conversion in a single document, the Product Disclosure Statement (PDS), provided to you before you open the account.

Under the Corporations Act 2001 (s1013D) and ASIC Regulatory Guide 175, an AFSL holder must disclose:

• All commissions, including round-turn rates per standard lot
• All spreads, with examples on common pairs
• Overnight financing rates and how they’re calculated
• Currency conversion methodology and rate
• Any inactivity, withdrawal or admin fees
• Order execution policy

If a broker quotes you a different number on its homepage than the figure in its PDS, the PDS wins. The homepage number is marketing; the PDS is the legal disclosure document. Always check the PDS before committing real funds.

The Target Market Determination (TMD) is the second mandatory document. It tells you whether the broker considers you part of its target market for the product. Retail forex CFDs in Australia are generally targeted at experienced traders who can absorb significant losses, not first-time investors.

If you have a complaint that the broker hasn’t resolved within 30 days, you can take it free of charge to the Australian Financial Complaints Authority (AFCA). All ASIC-regulated brokers must be members. AFCA can make binding determinations up to AUD 1.085 million per claim (compensation cap as of 2026).