Top ASIC Forex Brokers – Australian Regulated Companies

Regulator Info
  • Founded: 1991
  • Head Office: GPO Box 9827, Brisbane QLD 4001
  • Phone: 1300 300 630
  • Email: feedback@asic.gov.au
  • Website: asic.gov.au

For anyone who is interested in entering the Forex market, one of the most common issues you have is regulation. Working with any broker should give you total confidence and trust that they are safe and legitimate. However, if you look at a broker and feel as if you cannot trust what they say, you have to work out why that is. The first thing to think about when you go to visit any broker is who regulates them?

Regulation is so important in the Forex industry; it’s proof that the people you are working with are professional, legitimate, and capable of avoiding disaster for you should they fold or be unable to continue operations. The other challenge with regulation, though, is that so many regulatory bodies exist!

Among the most common names that you will see in the industry includes the Australia Securities and Investments Commission (ASIC). ASIC is the premium regulatory body for all of Australia, and it’s down to their expertise and their precision that Australia has one of the safest, most secure Forex trading platforms around.

They’ve become a leading name in the industry and are certain to stick around for the years to come.

Best ASIC Regulated Forex Brokers List
Broker Rating Regulation Mobile Min. Deposit Reward Review Site
4.5/5 ASIC, FCA, CySEC, FSCA Yes $100 100% Read Review Trade Now!
4/5 ASIC, FCA, CySEC Yes £5 £5,000 Read Review Trade Now!
4/5 ASIC, FCA Yes £100 N/A Read Review Trade Now!
4/5 ASIC Yes $100 100% Read Review Trade Now!
3.5/5 ASIC, FCA, CySEC, FSCA*(76.4% of retail CFD accounts lose money) Yes £100 N/A Read Review Trade Now!

*Plus500 UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909). Plus500 CY LTD is authorised and regulated by the Cyprus Securities and Exchange Commission (Licence No. 250/14).

Who is ASIC?

As mentioned above, ASIC is the leading name within Australia when it comes to regulation of the Forex industry. They are easily among the most important names within modern regulation and have been a beacon of honesty and integrity in the industry since the early 1990s. They first were tasked with regulating the industry Down Under, and today they are one of the most trusted regulators around. However, in 2009, the company underwent a significant shift in how it manages its operations. They started to introduce large adjustments to how companies in the financial industry could operate across the Australian Stock Exchange.

Their expertise led them to develop a comprehensive new advanced regulatory system; one that is used to ensure all businesses who participate stick to the rules. Making the most of modern technology for easy analysis of all regulated groups, they started producing more and more regulatory guidelines. This ensures that the Australian market is easily among the strictest in the world; giving consumers and traders the confidence they need to keep using the market.

Their reputation is far-reaching and ensures that many people can feel confident and trustworthy when utilising their expertise. That’s why so many people look to use the ASIC protection when choosing a potential broker in the Forex industry. By guarding the safety of investors first and foremost, they are one of the best regulators for ensuring that anyone using an ASIC-regulated firm can feel comfortable. For one, they ensure that all brokers within the Forex industry must hold what is known as an Australian Financial Services License, or AFSL.

Without that licence, you simply do not have the right to be a part of the Australian market. That is one of the major reasons why so many people see this a safe, modern market.

What Makes Them so Robust?

Overview of the ASIC Forex homepageWhen it comes to defending the interests of any consumer, ASIC is arguably among the best in the world. Their comprehensive approach to management of regulatory standards ensures that any company caught flaunting or breaking these rules will lose their AFSL. If you are to be part of the Australian market, you must hold your AFSL and thus you are expected to meet ASIC regulations.

ASIC itself operates under the Corporations Act (2001), that is put forward by the Australian government. This ensures that all laws are interpreted according to the right leasing, and ensures that the Australian government can promise integrity, safety, and honesty on all of their markets.

They also operate by using the Insurance Contracts Act (1984) and National Consumer Credit Protection Act (2009). All of these regulations ensure that you know that you are working with a company who has your own interests at heart. If you worry that you might have issues finding a Forex broker who is going to be safe to use and has protection should anything go wrong with their service, then make sure you only look at Australian companies who hold an active AFSL.

Checking for an AFSL

The first thing you should do is check out the Forex broker that you are thinking of trying out. If they are based on the ASIC group, then they should have a unique AFSL. This should be listed on their website, but if you cannot find it then you should contact the brokers support team; they should help you to find the figure.

Then, you simply need to use the ASIC database to search for that figure in mind. It will help you to work out if you are making the right decision with regards to your choice of broker. If they do not appear, then you should absolutely look to use another broker. If they are the holder of a legitimate AFSL, though, then you can feel safe in the knowledge that this company is properly regulated and therefore suitably protected to guide you from any financial harm in the long-term.

How Do They Benefit Me?

As a trader, you want to know that you are working on sites that give you the protection you need to trade without fear. They are a great solution that allows you to have access to their central regulatory structure; everyone who is ASIC-licenced should have to follow these rules. As such, you will find that any ASIC regulated broker will have to have at least $1m in operating capital. They also will have to work with what is known as a ‘Tier 1’ bank which is used for keeping clients money segregated and ringfenced so that it cannot be used by the broker.

If you want to work for a broker that you know plays by the rules and is honest, then, you should absolutely look to be part of ASIC – it will benefit you long into the future.