What is the best forex trading app in Australia?
Verdict
- Pepperstone is the best forex trading app in Australia on our criteria: 93 margin FX pairs on one ASIC-licensed account (AFSL 414530), a published Razor average of 0.1 pips on EUR/USD, and instant PayID deposits from $10.
- Razor also runs on MT4, MT5, cTrader and TradingView, so forex traders can change platform without changing broker.
- Capital.com (AFSL 513393) is our second choice, with its own app plus MT4, MT5 and TradingView, and guaranteed stops, which Pepperstone lacks.
- On an AUD Razor account, Pepperstone charges AUD 3.50 per side on MT5; MT4 charges AUD 7 per lot when the trade opens.
For forex specifically, the best app is the one with the tightest published costs on the pairs you trade and the most freedom to change platform. In Australia that is Pepperstone's app on a Razor account. Here is why, what it costs per trade, and when Capital.com makes more sense.
Why we pick Pepperstone for forex on mobile
Pepperstone's Australian account tables list 93 margin FX pairs (data from March 2025). Published averages on Razor are 0.1 pips on EUR/USD, 0.2 on GBP/USD and 0.3 on USD/JPY; on Standard they are 1.1, 1.2 and 1.3 with no commission. You can hold the account in AUD, so profits and losses on AUD/USD or other pairs do not pass through a second currency conversion. Funding is quick: PayID, card, Apple Pay and Google Pay deposits are instant and free from $10. Pepperstone also states execution from 50 milliseconds with a 99.32% fill rate and no dealer intervention, based on its trades from January to March 2026.
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Forex costs on Pepperstone's AUD account
Commission on Razor depends on the platform and the account currency. For an AUD account:
| Platform | Commission | Round trip per lot |
|---|---|---|
| MT5 | AUD 3.50 per side | AUD 7 |
| MT4 | AUD 7 per lot, charged when the trade opens | AUD 7 |
| Pepperstone app and TradingView | AUD 3.50 per side | AUD 7 |
| cTrader | USD 6 round trip on FX (USD account) | USD 6 |
Pepperstone vs Capital.com for forex on a phone
Choose Capital.com if a guaranteed exit on every position matters more to you than the lowest published spread.
- Licence: both hold ASIC licences, AFSL 414530 and AFSL 513393.
- Minimum deposit: $10 at Pepperstone, $20 at Capital.com.
- Published EUR/USD pricing: Pepperstone publishes averages for both accounts; our data holds no published EUR/USD figure for Capital.com.
- Stops: Capital.com offers guaranteed stop-losses; Pepperstone does not.
- Retail leverage: both cap major FX at 30:1, as ASIC requires.
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Three things forex traders should check in any app
- Whether the app shows the live spread before you place the order, not only after.
- That the pairs you trade, including crosses and exotics, are in the app's symbol list.
- How swap is shown on positions held overnight, since it can outweigh the spread on longer trades.
Sources
Terms as each broker publishes them on its own site.
How many currency pairs does Pepperstone offer in Australia?
Its Australian account tables list 93 margin FX pairs, using data sourced on 12 March 2025.
Which Pepperstone account is better for forex on mobile?
Razor, for most traders: 0.1 pips average on EUR/USD plus commission comes to about $8 per round-turn lot in a USD account on MT5, against about $11 on Standard.
Can I trade forex on TradingView's app with Pepperstone?
Yes, on a Razor account. In Australia, Pepperstone's Standard account does not include TradingView.
Margin FX and CFDs are leveraged and carry a high risk of losing money quickly. Read the PDS and TMD before you trade and consider whether the risk suits you. Not investment advice; spreads and commissions are broker-published and can change.