Beware! Australian Trader is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Australian Trader is a simple illicit broker and it has nothing to do with Australia nor any other jurisdiction. It is a risk to all.
Australian Trader Regulation and safety of funds
| Guaranteed Funds | Segregated Accounts | Negative balance protection | |
| Australian Trader | ❌ | ❌ | ❌ |
| UK regulated brokers | £85 000 | Yes | Yes |
| EU regulated brokers | €20 000 | Yes | Yes |
| AU regulated brokers | No | Yes | Yes |
| US regulted brokers | Yes | Yes | No |
We were about to conclude that Australian Trader is anonymous, when we happened upon a UK address, which to be honest does not really change things. With this UK address clients should not be fooled into thinking that Australian Trader is registered in the UK nor regulated by the FCA. In fact, Australian Trader has nothing to do with this jurisdiction because the address is false and misleading.
As for the big sign, the “Australia” in Australian Trader, it’s just a name with no real connection to the continent/nation. We don’t even have to check with ASIC. It’s another misleading statement.
Australian Trader is without a license and a risk to all. It is a scam.
Australian Trader Trading software
| Analytical tools | Auto trading | Custom indicators | Mobile apps | |
| Australian Trader Web Trader | ❌ | ❌ | ❌ | ❌ |
| MT4 | 30+ indicators | ✅ | ✅ | Android |
| MT5 | 50+ indicators | ✅ | ✅ | Android |
| cTrader | 40+ indicators | ✅ | ✅ | Android and iOS |
We accessed what is one of the most common web traders utilized by scammer brokers, and it still remains a question why this web trader has not upped its game. We are only saying this because there is potential here that can only be reached if it started offering its services to legit brokers. But by doing so it would have to radically shift its attitude.
There are some good features and trading options here, but the fact remain that Australian Trader is a scam and a risk to every trade made.
Australian Trader Trading instruments
| Currency | Stocks | Indices | Crypto | Commodities | |
| Australian Trader | ✅ | ✅ | ✅ | ✅ | ✅ |
| XM | Yes | Yes | Yes | No | Yes |
| FBS | Yes | Yes | Yes | Yes | Yes |
| FXTM | Yes | Yes | Yes | Yes | Yes |
But at least, we were able to get a hold on specific trading conditions. The ones that concern us in this section are the available financial instruments: forex currency pairs, commodities, cryptocurrencies, ETFS, bonds, shares, and indices. This is a perfect selection, and the only barrier here is the elephant in the room: Australian Trader’s lack of a license.
Australian Trader Spreads and cost of trading
| Australian Trader | XM | FBS | FXTM | |
| Spread EURUSD | 0.1 | 0.6 | 1 | 1.1 |
| Spread GBPUSD | 0.9 pips | 1.3 | 1.2 | 1.4 |
| Spread USDJPY | 0.1 | 1.3 | 1.2 | 1.4 |
The web trader reveals the following spreads: 0.1 pips for both the EUR/USD and the USD/JPY, and 0.9 pips for the GBP/USD pair.
In the legal docs we are told of the potential presence of trade execution commissions, but they are never actually disclosed in terms of their values. So, technically, these commissions are hidden, out of sigh for the user, but applicable. So the spreads we just mentioned are not final: they are definitely higher.
Australian Trader Maximum leverage
| Forex | Stocks | Crypto | Gold | Indices | |
| Australian Trader | 400:1 | ❌ | ❌ | 100:1 | 100:1 |
| UK regulated brokers | 30:1 | 5:1 | ❌ | 10:1 | 10:1 |
| EU regulated brokers | 30:1 | 5:1 | 2:1 | 10:1 | 10:1 |
| AU regulated brokers | 30:1 | 5:1 | 2:1 | 10:1 | 10:1 |
| US regulated brokers | 50:1 | ❌ | ❌ | ❌ | ❌ |
The web trader states that all leverage are 1. It seems some kind of an error has taken hold of the software. On the site, the re are a totals of 7 accounts – we will just say that scammer love to promote non-existing account tiers to seem more professional – where the leverage values range from 1:1 to 1:100. Here’s a list of more reliable high leverage brokers.
Australian Trader Deposit and withdrawal methods
| Deposit time | Withdrawal time | Fee | |
| Bank wire | No information | No information | No Fees, System Fees |
| Credit card | No information | No information | No Fees, System Fees |
| Crypto | No information | No information | No Fees, System Fees |
The depositing area in the client section told us that the only way to initiate the deposit process was to contact the account manager, which is one of the surest way to get deeply involved with the core of the scam- the managers themselves which tend to be the biggest swindlers of all.
The withdrawal area, however, reveals the availability of credit cards, bank transfer, and BTC wallet, as the payment methods, which should technically also be the deposit methods. Some sections of the website confirm this.
The minimum withdrawal amount bank is $500, and $100 for cards, which is way too high for both methods,
Australian Trader Minimum deposit
| Australian Trader | XM | FBS | FXTM | |
| Minimum deposit | $250 | $5 | $10 | $5 |
The minimum deposit is $250 for the lowest account type, and $250 000 for the highest account type. Of course we asking a $250k deposit is crazy, but so is a $250 is a world where more and more legit brokers ask for increasingly lower minimum deposits.
Australian Trader Withdrawal requirements
| Trading volume | Fee/Tax on withdrawal | Minimum withdrawal | |
| Australian Trader | No information | System Fees | $500 for bank, $100 for cards |
| UK regulated brokers | No | No | No |
| EU regulated brokers | No | No | No |
| AU regulated brokers | No | No | No |
| US regulated brokers | No | No | No |
According to the legal documents, the only fees for deposits and withdrawals are system fees, and there are no commissions brough about by the broker. But the truth is that with scammers you never really know what to expect.
However there are “additional” fees talked about in the legal docs that are not detailed, meaning that commissions and charges can pop up at any time.
