The best prop firms in Australia offer unique opportunities to trade forex. Notably, Australia has become one of the major hubs for trading in global financial markets. Typically, locally-registered Australian prop firms are registered with the ASIC regulatory authority – creating a secure environment for traders. These prop trading companies follow the strict ASIC regulations to promote transparency and minimize trading risks. Of course, traders can also join internationally registered prop firms in Dubai UAE to trade forex – without strict guidelines from local authorities. As an Australian trader, evaluate supported strategies, challenge fee structure, and risk management guidelines to trade FX pairs with a legitimate prop firm.
>> As one of the biggest prop firms in the world, Funding Traders accepts clients from Sydney, Brisbane, Melbourne, and other parts of Australia. With FT, you can take among international industry leaders and take advantage of:
- Commission-free forex funding challenges
- Support for news/copy/EA trading
- Up to $1M+ forex-funded accounts
- Competitive Profit Split Of Up To 100%
Keep reading to start your forex trading journey with a reputable prop firm in Australia.
Is Prop Firm Trading Legal In Australia?
First, discover if proprietary trading is legal in the Australian financial market. Typically, local prop firms are required to obtain an Australian Financial Services (AFS) license from ASIC. These regulatory licenses are necessary to provide forex trading services in the country. However, you may also find many international prop trading companies accepting Australian clients legally.
While not registered directly in Australia – these firms follow international rules to create a secure, safe, and transparent environment for local clients. When evaluating the legitimacy of a prop firm, you should focus on the risk management approach, market reputation, and supported learning resources. Indeed, global prop trading firms are allowed to operate in Australia legally.
Develop Risk Management For Forex
Develop a risk management strategy to start trading with a forex prop firm in Australia. Typically, you’ll need proven risk-focused strategies to join any prop trading firm from Australia. These firms leverage multiple evaluations to test your risk management approach and ability to perform consistently in different market conditions. Build strong prop trading risk management strategies that keep your risk exposure under the specified guidelines.
>> As a standard risk management rule, FT requires all Australian clients to maintain a consistent position sizing. Limit your risk under 2% on each trade to avoid major drawdowns and protect trading capital.
Keep in mind that prop firm funding challenges test your ability to handle risk – especially during the most volatile market conditions. Carefully understand the stringent risk management requirements before implementing new strategies to get funded in Australia. Definitely, building a risk management plan is an unavoidable step to trading forex with Australian proprietary trading firms.
Select A Funded Account Size
Now, choose a preferred account size to start your forex trading journey with Australian proprietary firms. Since many prop trading companies in Australia are registered overseas, you may only get funded trading accounts with USD as the primary currency. Typically, minimum account sizes for Australian clients start from USD $5,000 – going all the way up to $500,000+. Moreover, you can also scale your initial account balance and manage up to $1 million+ funded accounts – without breaching any trading rules.
One of the cheapest prop firms in India, USA, and Australia, Funding Traders offers multiple account sizes with affordable fees – starting from:
- Beginner ($5,000) – $50
- Mini ($10,000) – $100
- Starter ($25,000) – $200
- Basic ($50,000) – $300
- Advanced ($100,000) – $550
- Superior ($200,000) – $1,100
>> By following capital scaling rules, you can also increase your initial account balance by 25% every two months and trade with up to USD 1 million capital.
Of course, many prop firms with high account balances may also mislead traders. When selecting an account size, look for competitive leverage options to increase your buying power in the forex market. Indeed, the best firms support the biggest account sizes to support Australian prop traders.
Follow Funding Evaluation Rules
Follow prop firm evaluation rules in Australia to start trading forex. These evaluation rules evaluate how you perform on a challenge account. Ultimately, global prop firms only hire professional Australian traders who can carefully manage leverage and risks on funded capital. For instance, legitimate prop firms like Funding Traders do not allow grid, HFTs, and martingale strategies to minimize risks on prop firm capital.
Follow these trading rules to successfully complete the evaluation and get funded:
- Profit Target (1-Step): 10%
- Daily Drawdown (1-Step): 4%
- Maximum Drawdown (1-Step): 5%
- Profit Target (2-Step – Phase 1): 10%
- Profit Target (2-Step – Phase 2): 5%
- Daily Drawdown (2-Step): 5%
>> As a prop firm that allows news trading, you can also leverage the latest market trends to achieve profit targets on a challenge account.
Indeed, follow the firm’s unique evaluation rules to become a prop trader in Australia.
Receive A Live Funded Account
Once you complete prop firm evaluation in Australia, you can start trading on a live forex funded account. With live accounts, prop firms still require you to make strategic decisions and place profitable trades. Follow a reasonable trading approach and strictly follow your strategies to avoid breaching funded trading rules. Keep in mind some prop firms may only offer lower profits (up to 50%) to Australian traders – even after receiving a live funded account. Meanwhile, legitimate companies like Funding Traders all clients with a default 80% profit split on a live account.
>> You can even lock in a 100% profit split by signing up for our exclusive add-on offers and get paid faster every week.
Certainly, prop firms offer live-funded accounts to Australian prop traders after passing the forex evaluation.
Trade Multiple Financial Instruments
Similar to forex, you can trade multiple financial instruments with Australian prop firms. While local companies only support forex, international crypto prop firms operating in Australia also focus on other trading instruments. Besides FX pairs, you can trade CFDs on a wide variety of financial assets, including:
- FX (Forex)
- Crypto (Cryptocurrencies)
- Indices
- Metals
>> When trading different instruments, watch out for leverage, contract size, and spreads to limit risk exposure. You can sign up for a trial account to test if these instruments support your trading style.
These assets support multi-instrument Australian traders looking to earn profits from multiple markets and get paid with bigger payouts. Indeed, continue trading with best prop firms in USA to manage positions in various financial markets from Australia.
Start trading forex with one of the industry-leading prop firms from Australia. To get started, develop a prop trading plan with strict risk management strategies to avoid unexpected drawdowns. Next, select the funded account size as per your trading experience. Keep in mind global prop firms may not support funded accounts with AUD as primary currency for Australian traders.
Now, follow the funding evaluation rules, profit targets, and loss limits to receive a live trading account for forex. With these live accounts, you can trade multiple financial instruments and get paid with up to 100% profit split. Follow the points above to learn more about FX trading with prop trading companies in Australia.
