List of Forex brokers from Australia and regulated by ASIC
For years, most Forex brokers have been installed and have moved their operations to Cyprus, a country that offers better conditions to develop their businesses, including lower taxes. Also in Cyprus, these companies can get a license and regulation from CySEC (Cyprus Securities and Exchange Commission), the agency responsible for regulating financial services in the nation, which meets the strict guidelines established in this area by the MiFID (Markets in Financial Instruments Directive). Thus, these brokers obtain both an adequate base for their business operations and regulation that provides greater security and peace of mind to their customers.
However, many traders do not feel very confident with the names of Cyprus and CySEC because it is not a country with a long financial tradition like Switzerland for example, despite that currently many serious companies that offer high-quality services have moved their operations to this European nation. For this reason, many traders look for companies that are installed in countries that offer greater security for their laws, traditions in the field of financial services, and regulations among other factors. A country that offers these conditions is precisely Australia.
Australia is a country that in recent years has experienced tremendous growth in the financial services industry and has strict regulations on this matter, which are exercised by the ASIC (Australian Securities and Investments Commission), the main regulator of financial services in the country. ASIC functions include:
ASIC function is to regulate the market and financial services in the country. It is one of the leading authorities in regard to the regulation of the OTC market (Over The Counter) including Forex and its functions include the regulation and control of all companies offering financial services – as Forex brokers and binary options brokers – that are registered and installed in Australia. ASIC seeks to ensure that all financial services companies that are duly registered and have a license to operate function efficiently, honestly and loyally.
The rise of financial services in the country has led to the creation of major Forex brokers (and brokers for other markets) in Australia. Also, many brokers have moved their operations or have installed offices or subsidiary brokers in that country in order to exploit the advantages offered.
The main advantages of trading with a Forex broker in Australia are:
- Australia is a developed country with a strong and important economy, and therefore it has strong regulations on financial services. Also, this sector has grown significantly in recent years which has developed under this regulation.
- All brokers in Australia are under the regulation of ASIC, which means that these companies must meet strict regulations on financial services. This gives the customer greater security regarding the management of funds and broker practices.
- Most brokers from Australia offer the possibility to open Mini accounts with deposits of just $200 or even less, which are ideal for beginner traders. This differentiates Australia from other countries, where is required relatively large minimum deposits for an individual trader to open an account and trade in the market.
- No excessive restrictions are imposed with respect to the customer’s trades and the margin or leverage offered by the broker. The conditions in Australia are less restrictive compared to other countries like the United States for example, where the maximum leverage is 1:50 and the hedging is not allowed ( the opening of two positions in the opposite direction on the same instrument at the same time).
Australian Brokers Directory
The following is a list of Forex brokers from Australia which are operating under the regulation of ASIC:
| Broker | Trading instruments | Minimum deposit | Complete review |
|---|---|---|---|
ICMarkets |
| $200 | Broker Review |
Axi |
| $10 | Broker Review |
Pepperstone |
| $200 | Broker Review |
ThinkMarkets |
| $200 | Broker Review |
FPMarkets |
| $200 | Broker Review |
| Admiral Markets
|
| $1 | Broker Review |
XM |
| $5 | Broker Review |
Avatrade |
| $100 | Broker Review |
EasyMarkets |
| $50 | Broker Review |
FXOpen |
| $200 | Broker Review |
