Best Prop Firms in Australia (2026)

The best prop firm for an Australian trader accepts Australian residents in its rules document, pays you in a way that lands cleanly in an AUD bank account, and resets its daily limit at a sensible local time. As of October 2026, FTMO, Velotrade, The5ers, FundedNext and Topstep all pass the eligibility test.

They differ on the rest: FTMO serves Australians through a licensed Sydney entity, Velotrade pays in USDC or USDT that you convert to AUD yourself, and Topstep is futures only, paid by international wire. For the global field, see our roundup of the best prop firms.

Can Australians use prop firms?

Yes. Most large prop firms accept Australian residents, and none of the firms in our comparison table restricts them. But eligibility is decided by the legal documents, not the marketing.

The clearest example we found: SuperFunded is widely listed on directory sites as a Melbourne firm, yet its Rules and Conditions (dated August 31, 2026) say its evaluations are administered by Eightcap International Ltd, a company incorporated in Seychelles, and name Australia as a restricted territory for citizens and residents. Read the restricted territories clause before you pay, and again before you request a payout.

Velotrade's terms restrict North Korea, Iran, Syria, Cuba, Crimea, Donetsk, Luhansk and other sanctioned jurisdictions. Australia is not on the list.

Prop firms and ASIC: what is actually regulated

An ASIC licensed CFD broker account

A CFD account with an Australian broker holds your own deposited money, with a company that must hold an Australian Financial Services licence (AFSL) and give you a Product Disclosure Statement. Retail CFD accounts also sit under ASIC's CFD product intervention order, in force since 29 March 2021. It caps retail leverage at 30:1 on major currency pairs, 20:1 on minor pairs, gold and major indices, 10:1 on other commodities and minor indices, 5:1 on shares and 2:1 on crypto, and adds negative balance protection. ASIC has extended it to 23 May 2027 (media release 22-082MR). ASIC's reviews found that "most retail clients lose money trading CFDs" (media release 20-254MR).

A prop firm evaluation

A prop challenge is different. You pay a fee for a simulated account, trade it under the firm's rules, and if you pass, rewards are paid from the firm's own money. Your loss is capped at the fee. Because the trading is simulated, most prop firms are not licensed by ASIC, and the CFD order's leverage caps and client money rules do not apply.

Velotrade is one of those firms: not regulated, not a broker and not a financial institution, offering simulated, educational evaluations from Hong Kong since 2016. If ASIC regulation is a hard requirement, choose differently.

The FTMO Australia exception

FTMO's FAQ says clients in Australia use its services through an affiliated entity. The footer of ftmo.com/au names VRGK Tech Pty Ltd (trading as FTMO Australia), Sydney, ACN 640 619 521, AFSL 525757, and the site publishes a PDS, FSG and Target Market Determination for Australian residents only. You can check any AFSL number on ASIC's professional register.

The best prop firms for Australian traders in 2026

We checked each firm's official site in October 2026.

1) Velotrade, best for multi-asset and crypto traders

HQ: Hong Kong
Platform: DXtrade (plus REST and WebSocket API)
Max funding: Up to $200,000
Markets: Crypto, forex, stocks, index ETFs, commodities
Payouts to Australia: USDC or USDT, converted to AUD on an exchange

Velotrade puts crypto, forex, index ETFs (SPY, QQQ, IWM), US stocks and commodities including gold on one DXtrade account. Crypto trades 24/7, so you have an active market during the Australian working day.

There are three plans: PRO 1-Step (10% target, 3% daily, 3% max), CLASSIC 1-Step (10%, 4%, 7%) and CLASSIC 2-Step (10% then 5%, 5%, 10%). See 1-Step PRO vs 1-Step CLASSIC. Prices start from $40 for $5K; $50K costs $305 (PRO), $543 (CLASSIC 1-Step) or $419 (CLASSIC 2-Step), in USD. Fees are non refundable.

Every plan uses static maximum drawdown. The split is 80%, or 90% with a paid add-on, with the first payout after 14 days and then weekly, in USDC or USDT.

Strengths:

• static drawdown on every plan
• no consistency rule and no per-trade risk cap
• news and weekend trading allowed, 5 trading days minimum, no time limit
• EAs and bots allowed within the trading rules

Trade-offs:

• no CME futures, NAS100 or US30 CFDs, or instant funding
• no AUD paid straight to a bank
• the cheapest plan has a tight 3% max loss

For a full breakdown, see Velotrade review.

2) FTMO, best for an Australian licensed entity

HQ: Prague
Platform: MT4, MT5, cTrader
Max funding: Up to $200,000
Payouts to Australia: Bank wire, Visa Direct or Mastercard Send, Skrill or crypto, from day 14

FTMO has operated since 2015 and is the only firm here serving Australians through a local AFSL holder. FTMO Australia offers 1-Step and 2-Step Challenges on MT4, MT5 and cTrader, including AUD denominated account sizes.

The 2-Step has a 10% static max loss and 5% daily loss. The 1-Step has a 3% daily loss and a 10% end of day trailing max loss. The split is 90% on the 1-Step; 80% on the 2-Step, rising to 90% through scaling.

Strengths:

• local AFSL holder in Sydney (FTMO Australia)
• AUD denominated account sizes
• static max loss on the 2-Step

Trade-offs:

• funded Standard accounts restrict trading around selected news and weekend holding
• the 1-Step's trailing max loss is less forgiving than a static one

For a full breakdown, see FTMO review and FTMO vs Velotrade.

3) The5ers, best low cost forex entry

HQ: UK
Platform: MT5
Payouts to Australia: To an account in your own name only; methods and fees on its payout page

The5ers has funded traders since 2016 and does not list Australia among its forbidden territories. High Stakes, its 2-step program, starts at $19 for $2,500, with 10% and 5% targets, a 5% daily loss limit, and an 80% split that scales toward 100%.

Strengths:

• low entry price, from $19 for $2,500
• split scales toward 100%

Trade-offs:

• blocks trades within 2 minutes of high impact news
• withdrawals go only to an account in your own name; check its payout page for current methods and fees

For a full breakdown, see The5ers review and The5ers vs Velotrade.

4) FundedNext, best for payout flexibility

HQ: UAE
Platform: MT4, MT5, cTrader, Match-Trader
Payouts to Australia: USDT, USDC, Confirmo, RiseWorks, bank transfer and card, issued within 24 hours

FundedNext's CFD restricted list does not include Australia. The Stellar 2-Step has a static 10% max loss, 5% daily loss and an 80% split. Its help centre lists USDT, USDC, Confirmo, RiseWorks, bank transfer and card, issued within 24 hours, with gateway fees paid by the trader. Confirm bank and card are offered for Australia at checkout.

Strengths:

• static 10% max loss on the Stellar 2-Step
• wide choice of payout methods, issued within 24 hours

Trade-offs:

• gateway fees are paid by the trader
• funded accounts keep a reduced share of profit from trades around high impact news

For a full breakdown, see FundedNext review and FundedNext vs Velotrade.

5) Topstep, best for futures traders

HQ: Chicago
Platform: TopstepX
Markets: CME futures
Payouts to Australia: Wire/SWIFT, 5 to 10 business days, $30 fee

Topstep is an established US firm built around CME futures, and Australia is not on its ineligible or Express only lists. You pay a monthly subscription for the Trading Combine, which uses a trailing Maximum Loss Limit.

The catch is payouts: Topstep offers Wise only in a few countries, so most international traders, Australians included, are paid by Wire/SWIFT, which it says takes 5 to 10 business days with a $30 fee.

Strengths:

• established US firm built around CME futures
• Australia is not on its ineligible or Express only lists

Trade-offs:

• monthly subscription rather than a one-time fee
• trailing Maximum Loss Limit
• international wire payouts take 5 to 10 business days with a $30 fee

For a full breakdown, see Topstep review and Topstep vs Velotrade.

Comparison table

Checked October 2026. Left out: SuperFunded (restricts Australian residents) and MyFundedFX (closed February 2026).

Trading prop firm hours from Australia

The busiest forex and US stock sessions happen while the east coast sleeps. Here is how the sessions in our forex market hours guide land locally.

• Tokyo and Sydney session: your morning and afternoon. FX is quieter, and crypto is the most active market you can trade during the working day
• London open (8am London): roughly 5pm to 7pm in Sydney, depending on daylight saving in both countries
• US stock open (9:30am New York): roughly 11:30pm to 1:30am in Sydney

When the daily loss limit resets in Australian time

Velotrade sets each day's loss limit at 00:30 UTC, from the higher of your balance or equity at that moment.

The reset falls in your late morning, after the US session closes. FTMO resets at midnight CE(S)T, between about 8am and 10am on the east coast depending on daylight saving in Europe and Australia.

Getting paid in AUD

Every firm here pays mainly in US dollars (FTMO Australia also offers AUD accounts). The route to your bank differs.

Stablecoin payouts (Velotrade)

Velotrade pays in USDC or USDT. To get AUD, you send the stablecoins to an AUSTRAC registered Australian exchange, sell them for AUD and withdraw to your bank. Expect a network fee, the exchange's trading fee or spread, sometimes a withdrawal fee, and the AUD/USD rate at the moment you sell. Check the network before sending; stablecoins sent on the wrong chain can be lost.

The upside is speed (payouts are processed within 24 hours); the downside is that you handle the conversion and records. See how payouts work.

Bank and card payouts (FTMO, FundedNext, Topstep)

These suit traders who would rather not use an exchange. International wires usually arrive in USD and your bank converts them, often at a margin over the market rate. Compare the total cost on a realistic payout, not the headline fee.

Tax: general ATO context

This is general information, not tax advice. Treatment depends on your circumstances, including whether you trade as a business, so speak to a registered tax agent.

• The ATO treats converting a crypto asset to Australian dollars as a disposal, a CGT event, so selling USDC or USDT for AUD needs recording even when the gain is small
• You need the AUD value of each crypto transaction when it happens
• The ATO says to keep crypto records for 5 years from the later of when you prepared or obtained them, when the transaction completed, or the year of the CGT event

Keep the payout confirmation, wallet transaction ID, exchange trade confirmation and AUD bank deposit together, and ask your adviser how fees and payouts should be treated.

What Australian traders should check before paying

1. Residency in the rules document. Search the terms for "restricted territories" and confirm Australia is not listed for citizens or residents.
2. Who you are contracting with. Note the legal entity and its country. If a firm claims an AFSL, look it up on ASIC's register. If it is offshore and unlicensed, as most prop firms (Velotrade included) are, ASIC's protections do not apply.
3. Your route to AUD. Work out the fees and days for stablecoins, wire or card before you buy.
4. The reset time locally. Convert the daily loss reset to your time zone and recheck it when daylight saving changes.
5. Market hours versus your hours. US index and stock traders face midnight opens; crypto traders do not.
6. The drawdown model. Static is fixed from your starting balance; trailing follows your best level up.
7. Funded account rules on news, weekends and EAs, not just the evaluation's.

To line up any two firms rule by rule, use our prop firm comparison tool. Trading from somewhere else? See our guides for the UK and Canada, and the best prop firms for US traders.

Sources

All pages checked October 2026.

• FTMO, who can join
• FTMO Australia, legal documents
• FTMO Australia, trading objectives
• FTMO, how to withdraw profits
• The5ers, terms and conditions
• The5ers, High Stakes program
• FundedNext, restricted countries for CFDs
• FundedNext, payout methods
• Topstep, eligibility FAQ
• ASIC, product intervention order on CFDs (20-254MR)

Last updated: October 2026. Rules, fees and country eligibility change regularly; confirm current terms with each firm before buying. For the UK, see the best prop firms in the UK.