Compare Forex Brokers in Australia 2021

Best  Online Brokers Australia

We have chosen the best forex brokers to compare after researching many online brokers and comparing their features. We analyzed all those brokers according to the following ranking criteria:

• Trust Index:  The financial reputation of the company including Australian Securities and Investment (ASIC) regulation, negative balance protection, deposit held, year founded,…
• Trading platforms and tools: Trading platform (Metatrader, web-based and mobile), chart tools, VPS service,…
• Instruments: All assets available for trading.
• Trading conditions: Here we include the average spreads for most popular currency pairs, minimum leverage and the execution speed.
• Trading Accounts:  Type of accounts offered by the broker ( standard, demo, micro, Islamic,..).
• Other features: minimum deposit, education tools, promotions, customer support and deposit/withdrawal options.

ASIC Forex Brokers: An insider’s view

Australia emerged as the popular trading hub in recent years. The latest restrictions in European countries attracted forex brokers to the Australian forex trading market. Get your brokerage needs sorted out by taking Australian forex brokers’ services. But, hire an ASIC (Australian Securities and Investments Commission) certified broker.

Wondering, why an ASIC certified broker? They guarantee the security of the financial transactions of the customers. Moreover, brokers holding a license from the ASIC ensures overall market fairness. They help beginners as well as experienced traders.

But, why opt for ASIC regulated brokers? Let us dig in to know more details.

ASIC: Who they are and What they do?

ASIC is an Australian regulatory body renamed in the year 1998 from the previous “Australian Securities Commission.” ASIC overlooks the functioning of the financial and trading sector. It oversees industries like:

• Corporate governance industry
• Insurance industry
• Credit companies
• Financial and Securities investment companies

The role of ASIC is stated as under:

• Responsible for maintaining, facilitating, and improving the financial system’s performances
• Promotes customer’s confidence in the trading system with ASIC regulated firms.
• Defines rules for financial market and guarantee its reliability
• It can ban traders from engaging in credit activities.
• Focuses on effective enforcement of the laws
• Indulged in the receiving, processing, and storage of the financial details
• Provision of practicable information on trading bodies and companies to the public
• Presents market reports to the Australian treasurer

Honesty and good traits make ASIC forex brokers the first choice for the traders. They stand in the league of best brokers Australia. So, let’s see why you must choose one of them.

Why Traders Prefer ASIC Forex Brokers?

The Australian forex brokers are abreast of the latest rules and regulations set by ASIC. They conduct smooth market operations without any loopholes. These brokers are considered equal with Australian regulatory bodies like NFA and FCA. A few benefits of choosing them include:

• Keep Funds in Separate Accounts: Brokers affiliated with ASIC provides funds security. The regulatory body ensures that brokers deposit funds in separate accounts of leading Australian banks.
• Provide Transparency: The ASIC registered brokers need to present transparent operations. They must not indulge in compromised financial activities and remain systematic.
• Detailed Audits: Independent Australian auditing agencies carry out complete auditing of the licensed brokers. It is to ensure that they comply with prevailing rules.
• No Limit Trading: One of the excellent benefits for traders as some are involved in the high-risk market. No more limit regulations on the ‘maximum leverage’ amount by ASIC.
• Submit Transactions Reports: These brokers submit detailed and transparent reports on each completed transaction or service. For maximum protection, ASIC monitors daily operations.

Getting brokerage services from broker regulated by ASIC infuses a high level of trust among customers. Investors get updated information on the latest trading activities. If any unlawful activity is noticed, ASIC takes quick action. These strategic activities instil reliability and trustworthiness on forex brokers licensed by ASIC.

The ASIC regulates all brokers that we list here.

Here is our list of the best brokers Australia:

• Pepperstone: Best Forex broker Australia
• Plus500: Best CFD provider
• FP Markets: Best Trading Platform
• XM: Best Global Broker
• Vantage
• AvaTrade
• Go Markets