ASIC Regulated Forex Brokers
I’m sure if you’ve been in the forex market for a while or even if you’re just a baby newbie in the forex details you must have heard or seen ASIC somewhere and sometimes everywhere with the forex brokers.
Certainly, not all of us have understood what it symbolizes or what it means when attached to a broker’s name. And so, here I am with another helping hand explaining all the details about ASIC and its brokers.
The Australian Securities and Investment Commission (ASIC) is an independent government body tasked with regulating Australia’s financial markets and financial services industry.
ASIC is Australia’s integrated corporate, markets, financial services and consumer credit regulator.
ASIC’s role is to:
- Maintain, facilitate and improve the performance of the financial system and the entities within.
- It also promotes confident and informed participation by investors and consumers in the financial system. As well as administering the law effectively with minimal procedural requirements.
- It also receives process, and store information quickly and efficiently.
- In addition, ASIC makes information about the companies and other entities and bodies available to the public once attainable.
- Last but not least, they take the necessary actions to enforce and apply the law.
ASIC holds some major responsibilities that it considers a priority in providing its services. They include supporting investor and financial consumer trust and confidence. Based on ASIC’s reputation, it’s not an easy task to obtain their license, and hence, once a broker house is ASIC certified, it pushes that trusted spirit into investors that their funds are protected in all circumstances.
For example, all ASIC-regulated Forex brokers must hold a minimum net capital of AUD$1,000,000 to protect investors from bankruptcy or unexpected events.
Another requirement of ASIC is that its best ASIC regulated forex brokers must hold an office in Australia mainly.
In this way, ASIC-regulated forex brokers must establish a full-fledged branch in Australia, and this enhances accountability and confidence among traders while investing their money.
Is it safe to trade with an ASIC regulated forex broker?
Any forex broker that is regulated by ASIC gains the name of being honest as they must maintain the license by all the new and improved rules.
Australian Forex brokers are now considered as reliable as the best ASIC regulated forex brokers by other reputable regulatory agencies such as FCA, NFA and CySEC.
Let’s have a look over the advantages and why they’re the best ASIC regulated forex brokers:
- ASIC ensures segregated accounts within the brokers’ entity to make sure the client’s funds are safe and separated from the broker’s funds.
- ASIC does not impose any limit on the maximum leverage ratio that is known to hinder the freedom of trading for scalpers or high-risk traders.
- ASIC does not apply any contradictory rules, such as the FIFO rule or no hedging rule.
- All ASIC-regulated brokers should offer a fast and effective trading platform.
- ASIC-regulated brokers should provide the best in customer satisfaction through the best resolutions of all consumer complaints. When it comes to customer satisfaction and a merchant-friendly attitude, ASIC Forex brokers are known to be at the top of the rankings.
Best ASIC-regulated forex brokers
As we know, ASIC only regulates the best of the best in the forex industry. This means peace of mind to any investor thinking to trade with one broker in mind. And therefore, with trust, comes confidence and achievements.
These following brokers have proved over the years and my trials within their institutions and regulations that they not only protect your funds but also make sure you’re having great customer support and trading experience.
Let’s have a look at some of the best ASIC-regulated forex brokers.
It goes without saying that XM Forex is one of the best ASIC regulated forex brokers and the most known name of forex brokers in the market. And if that would mean anything to the investors, it would only signify trust and reliability, which are all well delivered by the Australian regulated forex broker.
XM Forex’s dependability and its well-rounded reputation around the world were all one piece of the puzzle of how it got such a great investor base. the other very important piece is being regulated by only the best and the strongest regulated within the financial regulators’ sectors and not only in one country but from different parts of the world.
An ASIC license is the pacemaker of financial institutions mainly in Australia and across the world. also2 other leaders in the market are FCA and CySEC.
XM forex offers 4 types of accounts. Between the micro, standard, ultra-low, and shares accounts, the investors would have all the options they’re looking for and more to trade comfortably and profitably.
With maximum leverage and spread being at competitive rates, no wonder it’s one of the best brokers on the market.
Check my XM Forex review for more details.
Another Australian ASIC-approved forex brokers that have an undeniable impact on the forex market and are traded with many investors from all over the world, is Pepperstone. A forex broker was founded in 2010 in Australia by a group of industry professionals with years of experience in forex and technology.
Pepperstone offers 2 account types to its investors and tight spreads. One of the best customer support is found at Pepperstone and has high maximum leverage.
For detailed analysis and information make sure to read Pepperstone’s review.
Missioned to provide the lowest spreads possible, IC Markets have managed to gain attraction from global investors as well as gain their trust while trading. Being listed in this list of the best ASIC regulated forex brokers means that IC markets have earned their place in the forex market.
The ASIC-regulated broker provides 3 trading accounts with excellently tight spreads that can range from 0.0 and 0.6 which are very low compared to other brokers in the forex market.
IC Markets offers the option for a demo account as well, so new trades can have the chance to trade and try out the market in a demo format before trading with a real live account.
The trading conditions within IC Markets are quite similar to those offered by Pepperstone. I recommend checking the differences in my IC Markets vs Pepperstone article.
Furthermore, check the IC Markets review for more details.
One of the best ASIC-regulated forex brokers and a proud introducer to the fixed spread across its account types, EasyMarkets is one of the best in the market when it comes to trading conditions.
As Fixed spreads help traders know their bottom line i.e. their spread cost, regardless of market conditions. No matter what the market’s liquidity or volatility is, EasyMarkets spreads remain stable.
And so, with such great terms, it only makes sense to be regulated by the best in the governors’ department, which is to be regulated by ASIC, and other major regulators in the industry for example CySEC, FSA, and FSC.
Read more details in the EasyMarkets review.
Next on the list of the best ASIC regulated forex brokers is Blueberry Markets. The minimum deposit is $100 and the maximum leverage is 1:500. Trading conditions are competitive.
Offering the 3 most famous trading platforms in the industry, MT4, MT5, and web trader. Blueberry Markets allows its clients the luxury of the best platforms out there.
With also 2 different types of accounts, the standard and the direct account. Opening an account with Blueberry Markets is as easy as 1 2 3.
For more details, I’d recommend having a look at Blueberry Markets’ review.
One of the best ASIC-regulated forex brokers located on Australian grounds. FP Markets is your address if you’re one of the investors looking for consistent tight spreads that can go as low as 0.0 pips on major currency pairs.
No wonder such a dedication to the trader, which was established in 2005 with 15+ years of experience and growth in the market, got to be regulated by one of the best.
Being one of the ASIC brokers, it clearly states its segregated client funds and fast transaction executions on the official website which, accordingly, enhances the trading experience of the investors which clearly shows in the increasing no. of traders that join the broker in opening accounts and start trading.
The broker provides 5 types of accounts types to make sure its investors will surely find the type that matches each and every different trading style.
Make sure to read more on the FP Markets review.
Having regulation from almost every big and reputable regulator from around the world, OANDA has managed with its top-notch performance to make it to the list of Australian ASIC-approved forex brokers.
With options for a demo account and cryptocurrency trading, the broker is making sure to provide its clients with what they need for a profitable trading experience.
Fast and effective deposits and withdrawals, 2 different account types, and multiple options for trading platforms. OANDA is also one of the award-winning brokers with exceptional performance.
One thing to take from all of that, especially after the ASIC regulation forex is that OANDA has earned their name on the list of best ASIC regulated forex brokers you can trust.
More details can be found OANDA review.
Axitrader is an award-winning, 24/5 customer service and support, ASIC-regulated forex broker that has a vast variety of investors from 100+ countries around the world.
With a $0 starting deposit, 1:500 maximum leverage, spread as low as 0.0 pips, cryptocurrency availability, and various CFDs. Axitrader has made sure to provide all facilities for its traders for a smooth investment, no wonder the name Axitraders is growing on the listing of the best ASIC regulated forex brokers.
I recommend finding more information about the broker Axitrader review.
What is ASIC regulation?
The Australian Securities and Investment Commission (ASIC) is an independent government body tasked with regulating Australia’s financial markets and financial services industry. ASIC is Australia’s integrated corporate, markets, financial services, and consumer credit regulator which aims to improve the performance of the financial system and promote the confidence and trust of clients.
Is it safe to trade with an ASIC-regulated forex broker?
Yes, it is safe to trade with an ASIC-regulated broker as ASIC brokers gain the name of being honest as they must maintain the license by all the new and improved rules.
What forex brokers are regulated by ASIC?
ASIC-regulated forex brokers which are one of the best in the market are as follows:
- XM Forex
- IC Markets
- Easy Markets
- Blueberry Markets