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. 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. 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. 80.2% 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. 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/in-experienced 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.
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 Crypto currencies 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. Mínimum deposit of $100, no withdraw limit and no fees.
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. 76% 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 As a broker, Vantage Markets is well-regarded and considered safe thanks to regulation by ASIC and the FCA. 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 1.4 pips. The minimum deposit is $200. Raw ECN. Designed for more experienced traders, this account charges commission at $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 commission at $2 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. 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. 74% 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. 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.
In practice, Admirals is a broker that offers several forex and CFD trading instruments in most currencies. Founded in 2001, Admiral Markets is regulated by JSC, FCA, EFSA and CySEC, and offers traders access to both MetaTrader 4 and 5, with the opportunity to have several active accounts with different base currencies to take advantage of price instability. With Admirals, the typical spread on EUR/AUD is 0.00027 AUD, and it can be traded on MetaTrader 4 and 5. For Zero.MT4 and Zero.MT5 accounts, the commission is set at $3 per round lot, but the average spread is only 0.00013 AUD. There are several account types available, depending on the platform that you want to use. On MT4, you can choose a standard account known as Trade.MT4. The minimum deposit for this account is 100 USD/EUR/GBP or equivalent, and you can trade 37 currency pairs as well as metal, energy, future, stock and bond CFDs. In this account, the trading fees come from the spread, apart from with single share or ETF CFDs, which have a standard commission of 0.02 USD. The Zero.MT4 account offers tighter spreads, with more currency pairs (45) but fewer CFD options. The commission on forex and metal CFDs is 1.8 to 3 USD per lot, cash indices are 0.5 to 3 USD per lot, and energy CFDs are 1 USD per lot. If you prefer the upgraded MT5, you can also have an Invest.MT5 account, alongside the Trade.MT5 and Zero.MT5. MetaTrader 5 accounts have access to more trading instruments in both Trade and Zero, but the Invest.MT5 is designed purely for buying stocks and ETFs, with more than 4,350 stocks and 200 ETFs available and a minimum deposit of 1 EUR/USD/GBP. Deposits are free using bank transfer, card, PayPal or Klarna, but there is a 0.9% fee (or $1 minimum) for deposits made using e-wallets like Neteller or Skrill. You can have one free withdrawal a month as a bank transfer, but two if you use PayPal or e-wallets. Admirals is available as a trading app on mobile as well as web and desktop, and the user interface and real-time trading that is available across platforms offer a seamless user experience. The research and analytics are extensive, with technical and fundamental analysis alongside trading news, market sentiment and a market heat map. Access to MetaTrader Trading Central and a weekly trading podcast is also provided. Admirals takes learning seriously with two separate courses aimed at beginner traders. The Zero to Hero course consists of 20 video lessons, a Q&A and a live session as well as a well-crafted trading strategy. Forex 101 is a three-stage course to take beginners through to experts using a structure that includes a video lesson with detailed notes and a quiz to check knowledge. Forex & CFDs are complex products, not suitable for everyone and come with the high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CMC has a reputation as one of the very best web-based forex brokers and is highly regarded by experienced traders due to its highly competitive pricing structures. CMC also has a professional account option that offers better margin rates and access to new products for those who are professional forex traders. The company has heavily invested in its trading platform, ‘Next Generation’, which is available on desktop as well as on mobile. The user functionality has won numerous awards for its usability and comprehensive data analytics which enable traders to make informed decisions. Operating across global markets, CMC has a comprehensive risk management plan in place to help traders minimize losses. However, it should be noted that users may have to pay a premium to implement guaranteed stop-loss functionality. 77% of Retail CFD or Spread Betting Accounts Lose Money. Henyep Investments (UK) is licensed by the FCA, and they provide access to trading services in 140 countries through five offices around the world. Using HYCM, traders have access to more than 100 trading instruments including forex, CFDs, stocks, commodities and indices on the popular MetaTrader 4 and MetaTrader 5 platforms. There are three levels of accounts available, each aimed at different types of traders. The Fixed Account offers fixed spreads form 1.8 pips and no commission, while the Classic Account offers variable spreads from 1.2 pips with no commission and offers the use of EAs. These accounts have a minimum deposit of $100. For those that want the best price on the spread and would rather pay a set commission, the Raw Account offers raw spreads from 0.2 pips, but a $4 per round commission fee. EAs can be used on this account, and the minimum deposit is $200. HYCM is regulated by both the FCA and CySEC so it is considered a safe platform. Education is provided in the form of a knowledge base, webinars, workshops and seminars, and research for traders is provided with a news feed and an economic calendar. At HYCM, the minimum spread for EURAUD transactions depends on the account:
Fixed: 5.8 pips Classic: 4.6 pips Raw: 3.8 pips (plus $4 commission per round)
The minimum trade on any account is 1 Euro, and trades can only be made through MetaTrader 4 or 5. In the UK and Europe, the maximum trade leverage is 1:30.
IronFX is a leading recognised investment firm and international brokerage. IronFX offers tailored trading products and services to retail and institutional clients, including a wealth of trading tools, the latest trading platforms and 24/5 multilingual support. As a multi-asset brokerage, IronFX provides more than 300 tradable instruments across six asset classes including forex, metals, indices, commodities, futures and shares. For the last 10 years, IronFX has focussed on providing competitive trading conditions with tight spreads and flexible leverage. The company also offers an Autotrade solution that allows traders to copy the best performing traders’ strategies.
This regulated broker offers ideal trading conditions no matter what your style of trading. You have the choice of a zero commission account or a zero spreads account, and you can deposit as little as $50 to start trading. There’s even leverage up to 1:500 available if you want it. Unlike most brokers that offer a VPS, Switch Markets will give you a high-spec VPS completely free with your trading account – this is well worth it if you are an EA trader. Read its reviews and you will see that its customer support is exceptional and available around the clock – something often overlooked when choosing a broker. Withdrawals and deposits are fast too. This is an ideal broker for those looking to improve their trading skills. There are cashback promotions, free trader tools and EAs (such as Risk Manager) when you open a demo or live account. This is an ideal broker for those looking to improve their trading skills. It has partnered with some of the best trading education providers to give you free membership to a world-class education – fantastic for beginner traders. A broker to check out! Risk warning: Trading OTC derivatives is risky; please read our PDS and disclaimer before trading with us. We encourage you to seek your own independent advice and to consider your own financial situation, needs and objectives prior to making any decisions. IG is highly rated as a specialist forex trading platform and offers a variety of short term and long term investment opportunities. For those looking specifically at forex trading, this is an impressive platform that is recommended for both novice and experienced traders. The low minimum deposit ($250) and comprehensive stop-loss opportunities (which are free of charge) mean that new investors can feel confident in their ability to trade EUR/AUD pairs. IG has 51 pairs available for forex trading. This means that it’s a good option for those wanting to test their trading expertise across major and minor pairs. However, those looking for exotic pairs may wish to look for a trading platform with more variety. Users can take advantage of a user-friendly desktop trading platform, with mobile apps also available for traders to use whilst on-the-go. Equally, there’s strong customer service available, with phone trading capabilities enabling you to take advantage of the wealth of advice available from the expert team.
IC Markets is an Australian forex broker that excels in low commissions across CFDs. With a quick and easy account opening process, as well as free deposits and withdrawals, it’s easy to see why so many forex traders chose to use the IC Market trading platform. The company offers 65 currency pairs which offers more flexibility than some other trading platforms. However, it is limited in that trading hours are 24 hours a day, five days a week. For those looking for a continuous trading service, this could be a dealbreaker. Additionally, it should be noted that although the company is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Seychelles Financial Supervisory Authority (FSA) and the Australian Securities and Investments Commission (ASIC), there is limited protection for those living in non-EU countries.
The easy-to-use proprietary platform is available on the web, desktop and mobile, and you can trade indices, commodities, cryptocurrencies, shares and currency pairs with the best in technical indicators, charts and multiple order types at your fingertips. In addition, the AI technology analyses your trading behaviour to help you make more powerful decisions. Capital.com has no fees for traders – which means that you can deposit, withdraw and trade without commissions or costs. Capital.com make their money for the platform through the spread, which is like many other brokers. The spread cost is completely transparent, with the costs incorporated into the quote, not as an additional cost. There are three different accounts available, and the one you choose depends on the minimum deposit, which starts at just $20.
Standard accounts have a minimum deposit of up to $3,000 The Plus account is from $3,001 – $9,999 The Premium account is from $10,000
User experience is the same in all account types, so you will enjoy the same trading no matter what your deposit level. One of the most impressive parts of the Capital.com offering, especially for beginners, is education. With a custom-built app called Investmate, users can set goals for their learning and the pace at which they want to learn – and have the trading knowledge that they need in their pocket. 30+ courses using varied learning materials are all in the application, to be used as and when they are needed. You can also find a glossary, guides on different trading instruments and strategies – including how to trade using spread betting and margins. The Capital.com trading platform is speedy, intuitive and simple, with a smooth interface and great customisation options, and with a demo account and premium research, education and trading experience it is an excellent choice of platform with minimal negatives. Capital.com is a regulated CFD broker that is well-known in Europe and the UK, having won multiple awards in the region. It is expanding rapidly worldwide, and it recently launched its services in Australia under the Australian Securities and Investments Commission license (ASIC). It offers forex CFDs trading in major currency pairs such as GBP/USD, and EUR/USD, minor currency pairs such as EUR/AUD, NZD/JPY and GBP/CAD, as well as exotic forex pairs such as EUR/TRY and AUD/MXN. There are over 130 FX pairs on offer in total. It is an ideal platform for beginners and for those who are new to trading, as they have the option to open a demo trading account to practice trading using virtual money. Capital.com’s intuitive platform and app include advanced technical analysis tools and techniques to help traders make informed decisions. Moreover, users are encouraged to access the free unlimited trading resources the company offers to understand how forex trading works. Those resources include trading guides, webinars, a YouTube channel, daily news and Capital.com’s top rated app, Investmate. 75.26% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Markets.com is a highly intuitive and interactive trading platform that is designed to educate users on how to make the most of their currency pairs. The site has been widely praised for the variety of tools available for users that include research, market analysis, webinars and informative videos. It’s a hugely beneficial tool for those looking to learn how to make the most of forex trading. The exceptional customer service levels and a team of FX experts mean that you can benefit from real-time analysis of the forex market. However, as a trading platform itself, the company is more expensive than other brokers and has a more limited product portfolio.
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. 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. 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. WikiJob does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. Investing involves risk including the possible loss of principal.
