Here are some of the best Forex broker Australia, which is regulated by the Australian Securities and Investments Commission (ASIC). ASIC as one of the regulatory authorities in the world ensures that forex brokers provide investors with constant monitoring and strict conditions. By choosing a forex broker that is ASIC regulated, you can be sure that your funds are safe.
In order to test the best forex brokers, our team checked the regulations in ASIC, tried to register and then complete the verification, and validated the important factors in choosing the platform, trade type, and minimum deposit. Next, we examine trading conditions, available assets, overall trading fees for clients, fee structure, and withdrawal fees, as these are what differentiate each broker. Based on our testing and research, here are the best Australian Forex brokers, ASIC-regulated.
How to Compare ASIC Regulated Brokers
ASIC is one of the most respected financial regulatory bodies in the world. Even if they are traditional, they will continue to change to be modern, researching and making changes to the rules in order to maintain justice.
But it is important to pay attention to the details of each broker to know what sets them apart from each other. When comparing ASIC regulated brokers, Here’s what to consider:
Regulation: Even if the broker is ASIC regulated, your trading account may not be covered by these regulations. ASIC-regulated brokers strongly subject Australian clients to different licenses, trading conditions such as leverage can be increased oversight without ASIC. While this is not inherently bad, a trader should know that their trading account is regulated and ASICs will not enforce their regulations on overseas territories.
Choice of platforms: Traders can choose from a variety of industry platforms, each with its strengths and weaknesses. When comparing brokers, always consider platform options, as the unique features or variety of platforms can change your trading experience. MetaTrader 4 is still the industry standard, but many brokers offer MetaTrader 5 and their proprietary platform. ECN/STP brokers will often support as they are built specifically for market execution and allow only minimal broker disruption.
Trading fees: Each broker will charge a fee for their services, but each has different pricing and fee model. While ECN brokers will charge smaller spreads combined with volume-based commissions, market-moving brokers will charge wider spreads. We compare brokers to see how much 1 lot of EUR/USD costs to trade and would encourage traders to do the same in comparing fees.
Minimum Deposit: The minimum deposit is subject to change by account type, with a higher minimum deposit often associated with better trading conditions. Always consider the specific minimum deposit for the type of account you may open.
Deposit and Withdrawal Methods: Most brokers accept payments by credit card and bank transfer, and many accept online payments via Skrill and Neteller, and some also accept Bitcoin. Always check withdrawal fees before making a deposit.
Forex Risk Disclaimer
Forex and CFD trading is not suitable for all investors, because of the high risk of capital, namely: 75-90%, retail investors can lose money if they do not focus and learn more.
Forex and CFD transactions carry a high risk due to the following factors:
- Unpredictable market volatility
- Slippage arising from lack of liquidity
- Insufficient trading knowledge or experience
- Lack of regulatory protection for clients
Traders should not invest if they are not prepared to face losses. Regardless of how much research you have done, or how confident you are in your trading, there is always a substantial risk of loss. (Learn more at FCA or ASIC)
Our State of the Market Report and Brokers Directory is the result of extensive research on more than 100 Forex brokers. The explicit aim of this resource is to help traders find the best Forex brokers and spare them the rush, with the benefit of accurate and up-to-date information. With more than 150 data points on each broker and more than 3000 hours of research and review writing, we believe we have succeeded in providing you with the right information.
In a world where trading conditions and customer support may vary based on where you live, our brokers focus on local traders and provide you with information about this broker from your point of view. All research has been carried out by our team of researchers and authors who have collected information from various company representatives, websites, and by filtering all implied information.