Best Australia forex brokers – list of brokers regulated by ASIC

Broker Country Rating Min. Deposit Website
Cyprus, Australia5/5$100Click for a special offerWebsite
UK4.95/5$100Click for a special offerWebsite
Australia4.90/5$100Click for a special offerWebsite
UK, Australia4.85/5$50Click for a special offerWebsite
UK, Cyprus, Australia4.80/5$5Click for a special offerWebsite
Australia4/5$200Read the review
US, UK, CA, SG, AU, JP4/5$1Read the review
Australia3.5/5$1Read the review
Australia3/5$1Read the review
Australia3/5$500Read the review
Australia3/5-Read the review

Australia is one of the main forex centers in the world and is expected to attract even more forex brokers now that Europe is officially capping the maximum leverage levels available to retail investors. It offers quite favorable conditions for financial services providers. However, the local financial regulator, the Australian Securities and Exchanges Commission (ASIC), has set certain requirements they have to meet, which guarantees their clients a high level of service.

ASIC requires licensed financial services providers to meet capital requirements of AUD 1 million, to keep clients’ money in segregated accounts and to follow certain internal procedures including risk management, staff training, accounting, audits, and more.

Another feature of Australian regulatory environment that many will find attractive is the fact that ASIC has imposed no limitation on maximum leverage. So, unlike EU and US brokerages, forex brokers based in Australia are free to offer leverage ratios as high as 1:500. That being said, we feel obliged to mention that high leverage can be very risky, if misused.

Unlike many European brokers, however, Australian ones are not covered by any compensation scheme. This is probably the biggest downside of Australian regulation and the main difference between ASIC and other top-rated regulators. A compensation scheme is a mechanism which requires brokers to set aside part of their profits in a pool, which later serves to insure clients’ funds, in case the broker goes bankrupt. By comparison, FCA-regulated brokerages are under the umbrella of the Financial Services Compensation Scheme (FSCS), which protects consumers up to £50,000 per person.

Above is a list of some of the best forex brokers legally operating out of Australia.

 

Australian forex brokers news

ASIC warns against the TopTenBinaryBrokers website

The  Australian Securities and Investment Commission (ASIC) has warned the Australians not to use the website TopTenBinaryBrokers.com for signing up for binary

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Australian and Canadian regulator warn against Marshall Islands-registered binary options brokers

The Australian Securities and Investment Commission (ASIC) informed the Australian consumers that the Ubinary binary options broker is not authorized to provide

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Australia’s ASIC warns of Market City International, Brokers500

Australia’s regulator, the Australian Securities and Investments Commission (ASIC) has put Market City International, operating under the brand Brokers500 on its warning

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Japanese forex broker Invast Securities reports record revenue

The Japanese forex broker Invast Securities reported operating revenue of JPY 348 million for January 2016 – a record high since August

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Australian forex broker DMM FX waives deposit and withdrawal fees

The Australian forex and CFD broker DMM FX said it will waive deposit and withdrawal fees, starting Monday, 8 February until further

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FMA joins in on the ASIC warning against unauthorized binary options broker Banc de Binary

The Financial Markets Authority (FMA), New Zealand financial regulatory body, issued on Wednesday a notice, in which it affirms the Australian Securities

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Australia’s ASIC warns against fake unit of forex broker Union Standard

The Australian Securities and Investments Commission (ASIC) issued on Tuesday a notice in which it warned against untruthful claims on www.usgforex.com regarding

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Australian forex broker OzForex rebrands OFX

Australian forex brokerage OzForex Group said on Friday it has been renamed OFX. The move is part of the broker’s strategy for

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Australia’s ASIC makes Cypriot’s IronFX Global remove false regulation suggestions

Cyprus-based forex brokerage IronFX Global has removed references from its website improperly suggesting the broker is regulated by the Australian Securities and

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IFC Markets adds CFDs on 77 Australian stocks to NetTraderX platform

Online forex broker IFC Markets has made available trading on stock contracts for difference (CFDs) of 77 Australian companies for real accounts

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