The 8 Best Brokers for Trading EUR/AUD
As part of our comprehensive forex trading section, we’re sharing comprehensive information on some of the best forex trading platforms available in the marketplace.
We recently shared details of the best forex brokers for those wishing to trade EUR/GBP and we’re now turning our attention to another minor forex pair; the EUR/AUD.
Forex trading is an investment opportunity where users try to maximize their profits by purchasing and selling currency pairs.
If timed correctly, there’s an opportunity to make significant financial gains as currency prices can fluctuate, allowing you to sell your currency for a greater price than you initially paid.
However, as with any investment, forex trading requires good timing, an understanding of market forces and an ability to make trades quickly and decisively.
Its why many investors choose to use trading platforms and dedicated forex brokers to help them maximize their profits and minimize their losses.
But how do you know how to find the best broker if you are keen to trade EUR/AUD?
Let’s find out.
A list of the Top Brokers for Trading EUR/AUD
If you’re ready to start trading EUR/AUD, here are 8 highly recommended forex brokers who can help you to make the most of your trades.
Please remember that these recommendations do not constitute financial advice.
You should always undertake due diligence and speak to a financial advisor before starting your journey into forex trading.
Description of the Best Brokers for Trading EUR/AUD
1. eToro
Pros:
Regulated by FCA, ASIC
0% commission on stocks
Social and copy trading
Cons:
More expensive than most of its competitors
No MetaTrader platforms
Below content does not apply to US users
Founded in 2007, eToro is considered a very low-risk broker as it is highly regulated by the Financial Conduct Authority (FCA) in the UK and many other regulatory bodies elsewhere.
Opening an account is free and you can access a $100,000 demo account to test the system.
It offers 47 currency pairs for trading. Spreads for forex trading have recently been significantly reduced and range from a very competitive 1 to 3 pips for major currency pairs.
Typical spreads for EURUSD and USDJPY trades, for example, are just 1 pip. EURAUD sitting at around 7 pips.
You can see the full list of spreads on the eToro website.
You’ll need to deposit a minimum of $200 for Copy Trading, eToro's standout feature which allows you to follow other traders and copy their trades.
This forex broker is great for beginners due to its user-friendly interface and app and 24-hour customer support. It allows you to trade currencies, stocks and cryptocurrencies in one portfolio and the Copy Trading system is a great way to learn.
The company also offers trading courses and features a Learning Lab which houses a variety of tools to support clients with their trading experience.
76% of retail investor accounts lose money when trading CFDs with eToro. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take two mins to learn more.
2. AvaTrade
Pros:
Worldwide regulated
Multiple platforms – MT4, MT5, etc.
20% welcome bonus
Educational content
Wide range of payments methods
Fixed spreads
Cons:
You can’t buy stocks
Quarterly and annual inactivity fees
Customer support is not available 24/7
No bonus for EU-based clients
No US clients accepted
Imitated crypto assets
AvaTrade is a CFD Regulated broker with +1,000 financial instruments and multiple trading platforms. It has been operating since 2006.
It offers a 20% welcome bonus up to $10,000, according to regulation and a free 21-day demo account with $100,000.
Instruments include:
Metals
Commodities
Stocks
FX Options
Oil
ETFs
Options
Cryptocurrencies
CFDs
Indexes
Shares
Spread betting
Indices
Forex
Bonds
AVATrade EU Ltd is regulated by the Central Bank of Ireland. (No.C53877)
Ava Trade Markets Ltd. is regulated by the B.V.I Financial Services Commission. It is also highly regulated in Australia, South Africa, Japan, Middle East, Cyprus and Israel
You can not trade with AvaTrade in the US, North Korea, New Zealand, Iran or Belgium.
Minimum deposit of $100, no withdraw limit and no fees.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
3. IG
Pros:
Highly regulated
MetaTrader 4 (MT4)
Over 10,000 instruments
Available in the UK
24/7 customer support
Cons:
High fees
No copy trading
Inactivity fees
IG Group is widely recognized as one of the top brokers for trading currency pairs like EUR/AUD due to its strong reputation, advanced trading platform, and extensive range of features tailored for traders of all levels.
Regulated by multiple top-tier financial authorities, including the FCA in the UK and ASIC in Australia, IG provides a secure and trustworthy environment for trading. The platform is known for its user-friendly interface, offering advanced charting tools, real-time data, and customizable layouts that are essential for effective trading.
With access to MetaTrader 4 (MT4) and ProRealTime charts, traders can perform in-depth technical analysis, which is particularly beneficial for navigating the volatile movements of the EUR/AUD pair.
IG also stands out for its competitive trading costs, including tight spreads that can be as low as 0.6 pips during peak hours, and a transparent fee structure. The broker offers flexible leverage options and competitive margin requirements, enabling traders to open larger positions with less capital.
Additionally, IG provides comprehensive market analysis and research, along with educational resources that help traders make informed decisions. With efficient order execution, reliable customer support available 24/5, and a diverse offering of instruments beyond forex, IG delivers a well-rounded trading experience, making it a top choice for those looking to trade EUR/AUD.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of IG retail investor accounts lose money when trading spread bets and CFDs with IG. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
4. Plus500
Pros:
No buy/sell commissions and tight spreads
Leverage of up to 1:30
FREE unlimited Demo
2,800+ trading instruments
Real-time quotes and advanced analytical tools
Fast and reliable order execution
Cons:
No API integrations
No social copy trading
Plus500 is a CFD provider and offers a CFD service only.
Though Plus500 is very user-friendly, CFDs are complex financial products, thus the platform is not suitable for beginners/inexperienced traders.
The company has intuitive trading platforms and new users are offered unlimited access to the demo account ensuring that they feel confident in their choices before taking the next step.
As specialists in CFDs, Plus500 has created a variety of risk management tools that are designed to maximize your profits and minimize your losses.
With ‘Close at Profit’, ‘Close at Loss’, ‘Guaranteed Stop’ and ‘Trailing Stop’ options available, there are a variety of ways users can manage their accounts.
80% 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. CFD trading via Plus500’s demo account.
5. XTB
Pros:
Regulated by the FCA
Low forex fees
Fast withdrawal and deposit with no fee
Live chat customer service
Cons:
Limited product portfolio
High fees for stock CFDs
As a broker that you can trust, XTB is both well-regulated and listed on the stock exchange. The registered office is in Canary Wharf, London.
XTB offers investors and traders the opportunity to trade commodities, stocks, metals, forex, indices and cryptocurrencies, as well as ETFs and CFDs, and it is regulated in top-tier jurisdictions by FCA, CySEC, IFSEC and KNF.
Traders can easily open an account online and can choose between the commission-free Standard account or the Pro account that includes tighter spreads, but there is a commission that needs to be paid on all trades.
Deciding what platform to use to make your trades depends on your location – in most countries, you can choose MetaTrader 4 or the proprietary platform xStation (although MT4 is not available to UK customers).
XTB is a great choice for beginners thanks to the huge range of educational materials, categorized by level (beginner, intermediate and advanced) and the customer service options that are available only on weekdays.
There is a fully functional demo account so beginners can practice strategies and get used to using the platforms.
The more experienced trader will enjoy a huge range of research resources, including trading signals, technical analysis, details about different instruments, and even a heat map and market sentiments.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
6. Vantage Markets
Pros:
Regulated by FCA, ASIC and VFSC
Low forex fees
No inactivity fee
No withdrawal or deposit fee
Good MetaTrader add-ons
Social trading
Cons:
CFD trading carries risk
$50 is needed to start trading
Vantage Markets was founded in 2008 to be a transparent forex broker and has grown to include 40+ forex pairs and over 1,000 different assets including EFTs.
As a broker, Vantage Markets is well-regarded and considered safe thanks to regulation by ASIC, FCA and VFSC.
Vantage Markets offers access to the markets through the popular MT4 and MT5 platforms, and a feature-stuffed mobile app.
There are three account types:
Standard STP. Perfect for novices, this is a no-commission account that works across all trading instruments, with a minimum spread of 1.0 pips. The minimum deposit is $50.
Raw ECN. Designed for more experienced traders, this account charges a commission of $3 per lot per side but the spreads start at 0.0 pips. The minimum deposit is $500.
Pro ECN. This is for professional, high-volume traders, and offers a commission of $1.5 per lot per side, with spreads from 0.0 pips. The minimum deposit is $20,000.
Vantage Markets is seen as a good, reliable broker that offers social and copy trading – without being prohibitively expensive in terms of non-trading costs or commission.
At Vantage Markets, the representative minimum spread (for Raw/Pro accounts) is 0.4 pips on EURAUD.
Trading Forex and CFDs involves significant risk of losing of your invested capital and is not suitable for all investors. 64.86% of retail investor accounts lose money when trading CFDs with this provider. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.
7. ActivTrades
Pros:
No minimum first-time deposit
Optimal trading execution
More than 1,000 CFDs
State-of-the-art trading infrastructure
Customer support in 14 languages via email, chat and telephone
Cons:
No copy trading
Not available for US clients
No bonus for EU-based clients
ActivTrades is a traditional CFD broker and has been trading for more than 20 years on 140 markets. ActivTrades is authorized and regulated by the FCA, CSSF and SCB.
Its strong points include:
No minimum first-time deposit
No commissions
Several payment methods for deposits and withdrawals
Tight spreads from 0.5 pips
It offers one of the best execution speeds in the industry with low latency below 0.004s.
It utilizes the most advanced technology to improve users' trading efficiency – users can automate trades, build integrations and create trading apps using ActivTrades' market-leading CFD and spread betting technology.
Exceptional trading infrastructure is available on ActivTrader and MetaTrader 4 and 5.
ActivTrades invests deeply in specially developed educational materials for its clients – including webinars, regular outlooks, manuals, etc.
Type of offers: ActivTrades focuses on well-developed products in its trading portfolio. Customers can choose from over 1,000 CFD or spread betting instruments across forex, indices, shares, commodities, financials and ETFs.
It also offers investing solutions for its institutional partners.
Spread betting allows UK residents ONLY to trade the prices of financial instruments, including forex, indices, commodities and LSE shares.
Spread betting and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread betting and CFDs work and whether you can afford to take the high risk of losing your money.
8. FXCM
Pros:
Low minimum deposits
Wide range of trading platforms
Volume discounts
Cons:
Limited products
Higher than average spreads
With the mantra of 'Client First. Trader Driven', FXCM is a British zero commission broker that offers trading in shares, CFDs and Forex for clients around the globe.
Although it does not offer services to traders in Hong Kong, New Zealand and a few other countries, FXCM is well-regulated by FCA, ASIC, CySEC and FSCA.
FXCM has a long history, founded in 1999 – and although there have been some legal problems in the past, it is considered to be a reliable broker.
With FXCM you can trade the following instruments:
45 currency pairs
15 stock index CFDs
7 cryptocurrency CFDs
12 commodity CFDs
219 Stock CFDs
1 bond CFD
There are two types of account – a Standard account with a minimum deposit of $50, or an Active Trader account that must maintain at least $25,000.
The only real difference between these account types is that the cost of the spread is slightly better for the trader with an Active Trader account.
FXCM does not charge a commission, and the cost of trading is built into the spread. There are also no fees to open an account, deposits are free from bank accounts as well as credit and debit cards, and although there is an inactivity fee, it doesn’t kick in until the account has been untouched for more than 12 months.
Withdrawals are free to a credit or debit card, but you can expect withdrawal fees if you are moving funds to your bank account.
FXCM works with some of the most popular trading platforms, like MetaTrader 4, ZuluTrade and NinjaTrader, but it has a decent proprietary platform that is available as a web and desktop trader as well as a mobile app.
The Trading Station web platform is simple and user-friendly, with great customisation and search facilities.
You can make several different order types on this platform, including time orders. However, you cannot receive any price alerts or notifications, and the research tools are not integrated – you need to open another web page to use them.
The desktop platform is just as easy to use, but there are a lot more order types available and you can set price alerts and notifications.
The mobile version of Trading Station is available for both iOS and Android. It too is simple to use, but the search function is a bit clunky and doesn’t have the most intuitive interface – and surprisingly, it does not support any notifications or price alerts.
One of the best parts of the FXCM platform is the wealth of educational materials. Alongside the useful demo account, there is an extensive library of video, webinar and downloadable PDF content that has all the information a beginner needs to feel confident in trading.
The research provided includes charts, technical analysis and a news feed. There is also a market screener and great trading ideas.
FXCM might have limited instruments, but with low fees and no commission with good education and research, it is a great broker for beginner traders.
What Is EUR/AUD?
Forex trading is based on pairs of currency.
In this instance, the 'EUR' abbreviation relates to the Euro; a currency used throughout most of Europe. Countries such as Spain, Italy, Germany and France all have a singular currency.
The AUD abbreviation refers to the Australian dollar.
Is EUR/AUD a Minor Pair or a Major Pair?
As you get used to the niche terminology found within the forex trading market, you’ll come across ‘major’ and ‘minor’ pairs. This relates to how common the forex pair is.
Major pairs are those that are commonly traded. They will always include the US dollar, and they have high liquidity. This means that there will always be an opportunity for a trader to use those currencies as part of a trade.
A minor pair is one that doesn’t involve the US dollar. Minor pairs are not necessarily about trading niche currencies; some of the world’s biggest and most stable currencies can be considered a ‘minor pair’ – for example, the EUR/GBP (the Euro and British Pound) is one of the most tradeable forex pairs.
In this article, our attention will focus on the EUR/AUD pair.
The absence of the US dollar means that it is regarded as a minor pair, despite both currencies being strong and highly regarded currencies.
What You Should Consider When Trading EUR/AUD
The EUR/AUD pair is one of the most widely traded minor pairs by forex traders.
Due to the relative stability of both currencies, the EUR/AUD pair is often coveted by both inexperienced forex traders and experienced/professional traders.
This is because it’s a pair with low volatility, making it a relatively ‘safe’ investment choice (although it should be reiterated that no forex trade is ever guaranteed to make a profit).
A key consideration of trading EUR/AUD is the significant time difference between the financial markets.
Unlike the EUR/GBP pair, which operates across broadly similar time zones, the EUR/AUD has the disadvantage that just as one market closes, the other opens.
This means that traders looking to trade a EUR/AUD pair may need to take advantage of 24-hour trading platforms or forex robots.
What Could Impact the EUR/AUD Pair?
Currency pairings can be influenced by a wide range of political and economic factors.
Anyone who pays close attention to currency exchange rates will know that currencies can fluctuate. When trading Forex, it’s important to be aware of what could impact both parts of your pair.
The Euro is controlled by the European Central Bank. Unlike other currencies which only have to consider one country’s economic forecast, the Euro is impacted by a wide range of countries (known as the Eurozone), from economic giants, such as Germany and France, through to smaller economies, such as Greece, Finland and Slovakia.
Unemployment rates, political uncertainty and even global events (such as the 2020 coronavirus pandemic) can play a huge part in influencing the stability of the Euro currency.
In contrast, the AUD can be heavily influenced by its import/export capabilities.
As Australia relies heavily on importing and exporting to the Asian continent, this can heavily influence the stability of the AUD.
However, the economic health of Australia remains strong thanks to the **Reserve Bank of Australia** and the low-interest rates on government debt.
It may also surprise you to know that because Australia is one of the leading gold producers, the price of the AUD is heavily linked to the price of gold.
This may also be of interest if you are looking to buy gold online.
How Can You Trade EUR/AUD?
There are two primary ways that traders choose to trade EUR/AUD currencies.
They can either trade the currencies directly using a forex contract or they can choose to trade a contract for difference (CFD).
This means that the trader speculates on the price difference between a pair of currencies.
CFDs typically involve investors working with forex brokers. There will be a starting point and an end point to the trade and one will pay the other the price difference.
These are typically used as short-term investments due to the volatility of the currency difference.
However, there are ways that you can use forex trading as part of a long-term investment strategy.
Why It’s Important to Choose the Right Broker to Make Your EUR/AUD Trade
When it comes to forex trading, you must find the right trading platform to help you increase your profitability.
Forex trading takes place 24 hours a day thanks to global markets.
As you become more experienced, you’ll start to understand how fluctuations are caused across time zones and the best time of day to make your trades.
For those trading in currencies across multiple time zones, this is increasingly complex.
This is where trading platforms with automation can be of valuable assistance – after all, you won’t want to be monitoring your trade 24 hours a day.
When choosing the best broker for your EUR/AUD Forex trade, you may need to consider what platforms are available.
Is the trade conducted over the phone via a trading expert or is it self-managed through an online platform?
Can you use a mobile app to help you wherever you are in the world?
Can you implement automated risk management strategies to minimize your losses?
Your choice of the best forex trading platform will be heavily influenced by your forex trading experience.
For new traders, some platforms are daunting and difficult to use, resulting in significant financial losses.
Whilst other trading platforms are designed specifically for professional traders and are full of data analytics which can help inform decision-making on a wide range of investments, far beyond just forex.
Frequently Asked Questions
What is EUR/AUD trading?
EUR/AUD trading refers to the buying and selling of the Euro (EUR) against the Australian dollar (AUD) on the foreign exchange market (forex).
The exchange rate between the two currencies reflects the relative strength of their economies and geopolitical factors that impact demand for each currency.
Traders may take advantage of fluctuations in the exchange rate by buying low and selling high, or by selling high and buying low.
EUR/AUD is considered a minor currency pair, which means it may not have as much liquidity as major pairs like EUR/USD or USD/JPY.
What is the best strategy for trading EUR/AUD?
The best trading strategy for EUR/AUD will depend on a trader's individual goals, risk tolerance and experience level.
Some popular strategies include trend following, range trading and breakout trading.
It's important to conduct thorough research and analysis of market trends, economic indicators and geopolitical events to make informed trading decisions. Traders may also consider using technical indicators and risk management tools such as stop-loss orders and take-profit orders to mitigate potential losses and maximize profits.
Can I trade on forex in any currency I wish?
In theory, traders can trade any currency they wish on the forex market. However, not all currencies may be available for trading on all platforms or with all brokers.
Some currency pairs may have low liquidity or high volatility, which may make them riskier to trade. It's important for traders to research the specific currency pair they wish to trade, and to choose a reputable broker that offers access to that pair.
Which brokers offer EUR/AUD trading?
There are many brokers that offer EUR/AUD trading, including well-known names like IG, CMC Markets and Pepperstone.
It's important to research and compare different brokers based on factors such as trading fees, customer support, trading platform features and regulatory compliance before choosing a broker.
How much capital do I need to start trading EUR/AUD?
The amount of capital needed to start trading EUR/AUD will depend on a trader's individual goals, risk tolerance and trading strategy.
Some brokers offer micro accounts with low minimum deposit requirements, which may be a good option for beginner traders. However, it's important to remember that forex trading carries risk, and traders should only invest money they can afford to lose.
Who is the best broker for EUR/AUD trading?
There is no one best broker for EUR/AUD trading, as different brokers may offer different features and services that appeal to different traders.
Some important factors to consider when choosing a broker include trading fees, customer support, regulatory compliance, trading platform features and educational resources. Traders may want to read reviews and compare several brokers before making a decision.
How can I stay up to date with the latest EUR/AUD market developments?
Staying up to date with the latest EUR/AUD market developments is crucial for making informed trading decisions.
Traders can use a variety of sources to stay informed, including financial news outlets, economic calendars and social media.
It's important to follow both technical and fundamental analysis of the pair, including trends, support and resistance levels, and geopolitical events that may impact the exchange rate.
What are the risks associated with trading EUR/AUD?
Trading EUR/AUD, like any investment, carries risks. These risks can include currency fluctuations, geopolitical events, unexpected economic developments and changes in central bank policies.
Trading with leverage can also amplify potential losses. It's important for traders to conduct thorough research and analysis before making trades, and to use risk management tools such as stop-loss orders and take-profit orders to mitigate potential losses.
How can I minimize my risk when trading EUR/AUD?
Traders can minimize their risk when trading EUR/AUD by conducting thorough research and analysis before making trades, using risk management tools such as stop-loss orders and take-profit orders, and diversifying their portfolio across multiple currency pairs.
Traders may also want to consider trading with a reputable broker that offers negative balance protection and adheres to strict regulatory standards.
Are there any trading platforms specifically designed for EUR/AUD trading?
While there are many trading platforms that offer access to EUR/AUD trading, there are not necessarily any platforms specifically designed for this currency pair.
However, some platforms may offer features that are particularly suited to trading this pair, such as customizable charting tools or the ability to set price alerts.
What are the factors that influence the EUR/AUD exchange rate?
The EUR/AUD exchange rate is influenced by a variety of factors, including economic indicators such as inflation, interest rates, and gross domestic product (GDP), geopolitical events such as elections or natural disasters, and central bank policies.
The value of other major currency pairs, such as EUR/USD and AUD/USD, can also impact the EUR/AUD exchange rate.
Is EUR/AUD a good pair to trade?
Whether or not EUR/AUD is a good pair to trade will depend on a trader's individual goals, risk tolerance and trading strategy.
The pair may offer opportunities for both short-term and long-term trading, and its relative stability compared to other currency pairs may make it an attractive option for some traders.
However, as with any investment, there are risks involved and traders should conduct thorough research and analysis before making trades.
Final Thoughts
To find the best forex trading platform and broker, you need to consider your level of trading experience, your investment capabilities and how much time you have to actively manage your investment.
Our research of the five best brokers for trading EUR/AUD has shown us that different trading platforms have different capabilities, even though they are broadly offering the same service at similar pricing structures.
Some platforms are designed to be accessible to all, from any budget and any level of trading experience, whilst others are more suited to experienced or professional forex traders.
It’s important to look at a range of forex platforms to examine how they perform across major and minor pairs. Some traders may be more attuned to major trades involving the US dollar, whilst others may have lots of experience in minor pairs such as the EUR/AUD or prefer the niche, exotic pairs that have less liquidity.
Reputable forex trading platforms will be heavily regulated and will have comprehensive risk management tools in place (such as automated stop losses) which will enable you to minimize your losses.
You should pay close attention to these tools – if you are trading EUR/AUD, then you will be working across significantly different time zones. Therefore, you will need to have a function set up to protect your finances 24 hours a day.
You may wish to look at ways to automate your trading.
You also need to be confident that your chosen forex trading platform is regulated in your country. If it is not, your finances may not be fully protected.
You should also look closely at the reputation of the forex broker.
The best trading platforms will publish details of how many users make a loss through their systems. The higher the percentage of users making a loss, the riskier your investment could be.
We’ve listed the current details alongside each description of our forex brokers, but it should be noted that these change regularly. You should always look at the broker’s website for the latest information.
As you make your final choice of the best forex trading platform to aid your EUR/AUD trade, you should ask each broker for access to their demo accounts.
These are simulated accounts that let you test the platforms before making any actual investment.
Each user will have their interpretation of how to use trading software, and what works well for some traders may be off-putting to others. Therefore, it’s important that you find what works best for you, rather than relying solely on recommendations from others.