Forex trading in Australia: everything you need to know
Discover how to get started in the world of forex trading. Let’s look at how FX markets work, the currency pairs you can trade, and the strategies you can use.
Start trading today. For account opening enquiries call 1800 601 799 between 9am and 6pm (AEDT) weekdays, or email newaccounts.au@ig.com.
Contact us: 1800 601 799
Start trading today. For account opening enquiries call 1800 601 799 between 9am and 6pm (AEDT) weekdays, or email newaccounts.au@ig.com.
Contact us: 1800 601 799
Forex essentials
Forex is one of the most traded markets in the world, made popular by periods of high liquidity, and its inherently deep liquidity. While FX tends to be preferred by experienced CFD traders, we’ve compiled this information specifically for beginners who want to learn more.
Forex trading products in Australia
CFD trading
Trade rising or falling forex markets with CFDs – and get full exposure to your trade with just a deposit. When trading with leverage, your profits and losses are magnified and there’s a high risk of losing money rapidly.
Live forex prices for Australian traders
Take your pick from over 80 currency pairs and predict their price movements on our award-winning-platform1. We offer CFDs on a wide range of major, minor and exotic currency pairs for you to trade. You can take a position anytime, thanks to our after-hours offering.
Forex trading strategies and styles you need to know
Trading strategies
Explore a wide range of trading strategies and styles you can use to predict how the forex market will move in the future.
Scalping trading strategies
Open and close your forex positions in a short space of time, taking advantage of short-term volatility.
Swing trading strategies
Pinpoint swing highs and lows to establish at which price levels you’ll enter and exit the market.
Latest forex news
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Why is the Fed's hawkish cut unsettling AUD/USD, EUR/USD, GBP/USD and USD/JPY?
2024-12-19T22:27:42+0000
Forex trading resources for Australian traders
- Visit IG Academy to discover our exhaustive education content tailored for beginner and seasoned CFD traders. Learn at your own pace using online courses, live sessions and more
- Explore several strategies related to forex trading, and establish whether you have a long or short-term outlook on the market
- Create a demo account to practise trading on different forex pairs. Execute your preferred strategies in a virtual environment before opening a live account.2
FAQs
What does forex mean?
Forex is an abbreviation for foreign exchange, which represents the marketplace where currencies from around the world are bought and sold. FX is another term used to refer to forex. When one currency is pegged against another, this is called a forex pair – eg AUD/USD.
Is forex trading risky?
Yes, forex trading is risky because it’s a highly traded market, which means it has equally high liquidity and volatility. You should always take steps to manage your risk, especially when trading on leverage, as your losses can exceed your initial outlay.
Is forex trading good for beginners?
Forex trading requires an intermediate to advanced understanding of how the market works, which tends to put beginners at a disadvantage. That’s why beginners are encouraged to learn more about the forex markets through our educational resource hub and our demo account before advancing to the live account.
Try these next
Read about the advantages of trading FX markets and why it’s so popular.
Discover the pros and cons of trading contracts for difference.
Learn about forex and how to trade the FX market via CFDs on our platform.
1 Best Finance App, Best Multi-Platform Provider and Best Platform for the Active Trader as awarded at the ADVFN International Financial Awards 2024.
2 Find out the important differences between demo and live accounts here
Contact us
Interested in opening an account?
Contact 1800 601 799 or newaccounts.au@ig.com
Want to check on your application’s progress?
Email newaccounts.au@ig.com
Have another question?
Browse our Help and Support portal
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