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AUSForex Review


AUSForex is an online FX and CFD broker that was originally founded in Australia in 2003, with headquarters relocated to the United Kingdom in 2015. This broker credits their success to their regulatory monitoring, continuous technical innovation, and dedicated customer service team. Speaking of regulation, AUSForex is regulated by the FCA, SFC, CySEC, and the FSC, having regulatory oversight in many different areas around the globe. In this AUSForex review, you’ll come away knowing the best and worst qualities about this broker.

Account Types

AUSForex offers two different account types, with the key differences centering on spreads and commission charges, or the lack of them. As you’ll notice, there are several similarities between the STP and ECN accounts. Regardless of which account you choose, you’ll need to meet the same deposit requirements, have the same leverage choices, and will be allowed to make the same trade sizes. Below, you can compare some of the most crucial information for both account types.

STP Account

  • Minimum Deposit: $1,000 USD
  • Maximum Leverage: 1:400
  • Average Spreads: 2.0 pips
  • Commission: None

ECN Account

  • Minimum Deposit: $1,000 USD
  • Maximum Leverage: 1:400
  • Spreads: 0.5 pips
  • Commission: $10 per standard lot round-turn

Notice that the minimum deposit amounts and maximum leverages are the same for both account types. This is also true for the minimum and maximum trade sizes. Also, the listed spreads are the average spreads, not the best you’ll find. Knowing this can make the ECN account more attractive. In reality, choosing an account comes down to weighing two choices –An account with above average spreads but no commission fees, or an account with amazing spreads but higher than average commission charges. On the bright side, while the minimum deposit is high, it is the same for both account types. So, if you have a grand available to deposit, you won’t be restricted by one account having a higher minimum deposit amount t than the other, which is often the case with other brokers.


If you choose to trade through AUSForex, you’ll be given the choice between the MetaTrader 4 and MetaTrader 5 platforms. With many other brokers, users are limited to only one option, so it’s great to see traders are being given a choice with this broker. In case you’re unfamiliar with the MT4 and MT5 platforms, or wondering which to choose, allow us to highlight some of the great qualities about both. MetaTrader 4, the more popular, classic option, provides instant trading quotes, is equipped with professional charting tools, and includes more than 20 technical analysis indicators, instant market news, and more.

Many users also claim to enjoy the user-friendly and customizable interface that is offered within MT4. MetaTrader 5, the newer version, offers a lot of the same things that are available on MT4, but comes with more than 80 technical indicators and 40 analytical tools, as well as a built-in financial calculator. Generally speaking, MT4 was designed for Forex traders, while MT5 was designed to provide traders with access to CFDs, stocks, and futures. Both MT4 and MT5 can be downloaded on PC or through the App store or Google Play. There is no downloadable version supported for Mac, but users will be able to access the platforms through the WebTrader, which is the browser based version. The WebTrader is also an excellent option for PC users that do not want to download the software. Download links can be found on the AUSForex website under the ‘Trading Platforms’ option.


The lowest leverage option is 1:50, meaning that you would be trading with fifty times the funds that you have sitting in your account. This is a low starting option since many others start with a leverage option of 1:100. If you’d like to trade with the lowest risk possible, you would want to choose a lower leverage. When creating an account, you can also choose 1:100, 1:200, 1:300, and finally 1:400 as your leverage options. When comparing these choices with other brokers, you’ll find that the highest leverage offering is fairly competitive and that many other Forex brokers set a lower limit. If you’re not very experienced, do keep in mind that you shouldn’t choose the highest leverage, unless you’re prepared for the risks that come along with doing so.

For beginners, or those that don’t have a lot of funds to invest, it’s best to stick with a lower leverage choice. Still, whether you’re one to go with lower leverages or not, it’s great to have the option to move up should you decide it’s time to do so.  However, we should mention that you can occasionally find higher options elsewhere. If you do, be sure to check any specifics on those options. Many brokers may advertise high leverage options, but require a certain equity in the account, along with various other requirements to actually unlock their highest leverage. With AUSForex, the highest option is actually accessible.

Trade Sizes

We can positively report that you’ll be able to trade micro lots with both account types. We were unable to find information on the largest trade sizes listed on the website. Since we felt many would want this information, we decided to use the opportunity to test out the company’s LiveChat. Our agent responded to us quickly and informed us that the largest order size is 100 lots and there is no limit to the number of open positions, although they recommend that the account position is not heavy. In our opinion, AUSForex should update their website to be a bit more transparent when it comes to allowed trade sizes, but we were able to find this information pretty easily.

Trading Costs

When it comes to commission charges, you’re going to be looking at different scenarios, depending on the account you’ve chosen. As we briefly mentioned earlier, the STP account does not have any commission charges, but this is balanced out by the higher spreads that come with this account type. On the other hand, you’ll get much better spreads with the ECN account, but commissions are set at $10 per standard lot round turn. In reality, the commission charges are on the higher side of the scale. However, you could benefit from the ECN account, even with the higher commission charges, so long as it fits your trading style. You’ll also want to pay attention to the overnight charges if you often leave positions open overnight. You can view the current and variable swap charges by navigating to the ‘Trading Products’, ‘Overnight Interest’ page. Finally, this broker profits through spreads, like all other Forex brokers. The spreads for the ECN account are very low, but you’ll find that spreads on the STP account are high. More on that later.


AUSForex works with 13 liquidity providers and provides lightening fast order execution for all currency combinations. All traders will have access to Expert Advisors and hedging and scalping is allowed. Their product portfolio includes Forex, Index, Crude Oil, Gold & Silver, and CFDs. These include popular currency pairs in addition to some more exotic options. The best way to view the available instruments is by navigating to the ‘Products’ page and choosing ‘MT4 Instrument Information’.


With AUSForex, spreads are not fixed, but are rather variable. This company describes their minimum spreads as competitive, but we wanted to take a closer look. We will cover the average spreads for both account types, since they are more realistic. For the STP account, the average spread is 2.0 pips. This is on the higher side of average, but this is because the broker is not receiving any commission fees from those with this account type. This also may seem higher compared to other brokers, but keep in mind that others advertise the absolute lowest spreads you’ll find. With the ECN account, the average spread is 0.5 pips. This is amazing when you consider that this is the average spread you’ll find, which means you’ll see spreads this low the majority of the time.

Minimum Deposit

The minimum deposit amount is $1,000 for both account types. For many, this may be the deal breaker. Obviously, if you can’t make the deposit, you have no reason to open an account with this broker. Many other brokers do offer much lower deposit minimums, often less than$100 for at least one or two different account types. However, many may have this amount on hand, which means that this broker is still considerable. One of the perks to depositing larger amounts of funds is that you’d be depositing less often, which means you could avoid processing times and deposit fees. What it really comes down to is whether the minimum deposit amount is a realistic amount for you personally. Also, the minimum for all of the funding methods is lower than the standard deposit amount, so there is no need to compare methods based on that fact.

Deposit Methods & Costs

AUSForex only offers Visa/MasterCard and wire transfer as funding options. We definitely would’ve liked to see other options, especially since e-wallets are becoming more popular. However, these are some of the most commonly chosen funding methods, so at least the options are sturdy. For cards, the deposit time is listed as real-time. For wire transfer, the website lists the deposit time as “5 business days or so”. We felt that this was a bit vague, but we would expect that wire would be received by at least 7 business days, maximum. Of course, it could be sooner, but the best thing to do is to be prepared for the longer wait times, so that you won’t feel disappointed. If you’re in a hurry, depositing by card is definitely the best choice.

Withdrawal Methods & Costs

Withdrawals are available via the same methods as deposit: wire transfer and Visa/MasterCard. The withdrawal fee for all card methods is listed as free. This definitely puts cards at the top of our list for funding methods. With other brokers, we often see high credit/debit card fees, many of which charge at least $7 USD on top of a percentage of the deposit. However, there is no reason to avoid using a card here. For wire transfer, fees may be charged by your bank. These fees often range from $0-$30, but we’ve seen them go as high as $50, so this is definitely something you’ll want to check with your bank about. In our opinion, Visa/MasterCard wins the best method in this category as well.

Withdrawal Processing & Wait Time

For withdrawal via wire transfer, it usually takes 1-5 working days to reach your account, depending on the bank. One day would be an excellent time frame, especially for wire transfer, but of course you wouldn’t be able to count on receiving the funds this quickly. The time frame for all cards is listed as real-time. We’re assuming that means instantly, or very quickly, although AUSForex could be a bit more specific.

Bonuses & Promotions

AUSForex offers an IB referral program. In order to benefit, you’ll simply need to have someone sign up with your referral link. The broker will manage their account, but you’ll receive commissions on a daily basis, which are based on your customer’s trading activity. At the time that this article was written, we were unable to find any other bonus opportunities, which was disappointing.

Educational & Trading Tools

This broker definitely supports beginners, which is backed up by the Learning Center that is offered on their website. On the pages within it, traders can find explanations about what Forex is, trading examples, explanations on CFDs and trading examples for CFDs, information on order types, and a section devoted to common problems. A financial calendar and global news are also available on the website, but this is as far as the tool offers go. Do keep in mind that the lack of tools on the website is made up for within the MT4 and MT5 platforms, both of which offer charting tools and more.

Customer Service

AUSForex offers 24/7 customer service for transactions and accounts. Support is also conveniently available in multiple languages. If you need to get in touch with support, you can choose between LiveChat or email. For the LiveChat option, you’ll simply click the LiveChat box to the right of the screen on the company’s website. From there, you’ll be asked basic information about yourself and your problem before being transferred to a live agent. Note that we tested this contact method and were connected with an agent very quickly, so this is a great option.

If you prefer email, you can simply fill in a form on the website. The form allows you to check whether you’d prefer contact by phone or email and also requires you to fill in some personal details. We thought that the hours for customer service were excellent, since many other brokers do not offer support at all hours. The only thing that’s missing is the inclusion of direct phone numbers which, would allow clients to phone customer support directly, rather than waiting for their call request to be returned.

Demo Account

AUS offers a free 30-day demo account. Demo accounts are often offered by Forex brokers, so we were happy to see that AUSForex was no exception. However, it would be nice if the demo was not limited to a 30 day time frame. When signing up for a demo account, you’ll be given the choice between the MT4 and MT5 platforms and asked to fill out some personal information. Afterwards, you’ll receive an email link to the demo registration process. Trading on a demo account Is an excellent way to practice, so consider opening one of these accounts if you’re not as experienced as you’d like to be.

Countries Accepted

This company is regulated in several places, but if you select “The Financial Services Commission” (Mauritius Financial Services Commission) under “Regulatory Type” in the registration process, you can open a US account. The broker also claims not to offer services to clients located in Japan, Iran, Cuba, Sudan, Syria, Belgium and North Korea.


AUSForex offers two account types with a couple of key differences, mainly being spreads and commission charges. Making the choice comes down to weighing two options –an account with higher spreads and no commission costs, or an account with amazing spreads but higher than average commission charges. There isn’t a large variety of funding choices, but there are popular methods offered and deposits and withdrawals are also fee free, which is something you won’t find offered often. Processing times are also very fast, which means you won’t be left waiting long for your deposit or withdrawal to hit your account. This broker offers trading in various currency pairs and CFDs on two great platforms and they even focus on beginners by offering a Learning Center directly from their website. However, the commission charges for the ECN account are high and swap fees are applicable.

Perhaps the biggest drawback of all is the minimum funding amount of $1,000. For some traders, such a high deposit amount will mark AUSForex off the list of considerable brokers, since many other brokers offer considerably lower choices. Another downside is the lack of bonus opportunities, which is offered with many other brokers, although meeting requirements for these types of promotions are often difficult or impossible. If you do have the funds to make the deposit requirement, you can take advantage of some of the commission free options, low spreads, and super fast and fee free deposit and withdrawal methods. Just remember that every broker is not perfect, and there are drawbacks to choosing this broker, just like with all other options.


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