10 Best ASIC Regulated Forex Brokers (AUS)
Last Update: June 26th, 2024
10 Best ASIC Regulated Forex Brokers offer peace of mind with strict financial security measures and adhere to high ethical standards.
In this in-depth guide, you’ll learn:
- What is the Primary Objective of ASIC?
- What are the Benefits of Trading with ASIC-Regulated Brokers?
- Who is the Best ASIC Regulated and Licensed (AUS) Forex Broker?
- A list of the top brokers for Beginners with a low minimum deposit in Australia?
- A breakdown of the regulations and rules of ASIC.
So, if you’re ready to go “all in” with the ASIC Regulated (AUS) 10 Best Forex Brokers…
Let’s dive right in…
🏆 10 Best Forex Brokers
Broker | Review | Regulators | Min Deposit | Website | |
---|---|---|---|---|---|
🥇 | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker | |
🥈 | Read Review | FSCA, IFSC, ASIC, CySEC, DFSA, FCA | USD 5 | Visit Broker | |
🥉 | Read Review | FCA, FSCA, FSC, CMA | USD 10 | Visit Broker | |
4 | Read Review | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB | USD 200 | Visit Broker | |
5 | Read Review | FCA, CySEC, FSCA, SCB | USD 100 | Visit Broker | |
6 | Read Review | CySEC, MISA, FSCA | USD 25 | Visit Broker | |
7 | Read Review | CySEC, FCA, FSA, FSCA, Labuan FSA | USD 100 | Visit Broker | |
8 | Read Review | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA | USD 10 | Visit Broker | |
9 | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker | |
10 | Read Review | IFSC, FSCA, ASIC, CySEC | USD 1 | Visit Broker |
10 Best ASIC Regulated Forex Brokers (AUS) (2024*)
- ☑️IG Group – Award-Winning ASIC Regulated Forex Broker.
- ☑️Admirals – Low-cost trading experience.
- ☑️AvaTrade –Best Mobile Trading Experience.
- ☑️Axi – Best MT4 Trading Tools.
- ☑️FP Markets – Best ASIC-Regulated Forex Broker.
- ☑️IC Markets – Best Broker for Beginners.
- ☑️CMC Markets – Strong reputation for Regulation and client safety.
- ☑️GO Markets – Low forex fees and favorable non-trading fees.
- ☑️eToro – Best Globally Regulated Broker.
- ☑️Pepperstone – Lowest Cost ECN Broker.
Overview of ASIC
Responsible for overseeing Australian financial markets, the Australian Securities and Investments Commission (ASIC) holds a significant role as a regulatory body.
In 1991, ASIC was founded with a mandate to uphold regulations that safeguard Australian traders, investors, and creditors. It also seeks to maintain transparency in Australian financial dealings and institutions throughout Australia. ASIC Regulated Forex Brokers revealed.
In addition, its jurisdiction covers a diverse spectrum of Australian financial offerings such as securities, derivatives, insurance, banking, and, notably, the Forex industry.
ASIC employs a proactive and preventive regulatory approach, prioritizing the attainment of transparency and fairness in financial services to bolster investor trust.
The commission uses a comprehensive regulatory structure that includes licensing financial service companies, monitoring their activities, and enforcing rules against misbehavior.
This methodology is intended to reduce systemic risk while protecting individual investors from fraudulent and unfair actions.
One of the distinguishing features of ASIC’s regulatory framework is its focus on excellent corporate governance, consumer protection, and risk management among the firms it regulates.
For forex brokers, this entails complying with tight capital requirements, maintaining strong internal processes, and offering their customers clear and fair trading conditions.
They also play an important role in educating and enlightening investors, providing materials to assist them in making sound choices.
It has established globally recognized regulatory standards, which makes firms that operate under ASIC’s regulations attractive to investors from all corners of the world.
ASIC remains a top-ranked regulator worldwide through its commitment to preserving an open and steady financial system and active engagement in global regulatory forums.
Benefits of Trading with ASIC-Regulated Brokers
By choosing to trade with brokers regulated by ASIC, traders can enjoy numerous benefits and safeguards. The foremost objective is to create a safe and transparent trading environment.
Thanks to the strict regulatory structure imposed by ASIC, these brokers must satisfy stringent operational requirements, including maintaining appropriate capital levels, implementing comprehensive risk management systems, and treating clients equitably.
This means traders receive enhanced protection for their funds while accessing accurate information regarding goods and services available for trade via such regulated platforms.
Moreover, working alongside reputable brokers ensures trustworthiness in every transaction undertaken on this platform.
ASIC’s unwavering commitment to safeguarding the interests of traders guarantees an added level of security achievable by seeking assistance from regulatory authorities if outlooks appear unjust or suspicious during trades.
Furthermore, this gives them complete peace of mind while conducting their business activities online.
10 Best ASIC Regulated Forex Brokers
🔎Broker | 👉 Open Account | 💻Compliance Standards | 🦲Trader Protection | 🔑Key Features |
IG | 👉 Open Account | Regulated by ASIC and other authorities, adheres to strict standards | Negative balance protection, risk management tools, Financial Ombudsman Service access | Diverse trading instruments, advanced trading platforms, and educational resources |
Admirals | 👉 Open Account | Regulated by ASIC, international standards compliance | Client fund segregation, negative balance protection, educational resources | Known for its excellent investor education and advanced MetaTrader features |
AvaTrade | 👉 Open Account | Regulated in multiple jurisdictions, including by ASIC, follows strict measures | Risk management tools, negative balance protection, educational materials | Best known for offering an extensive selection of trading platforms for forex and CFD traders |
Axi | 👉 Open Account | Regulated by ASIC and global regulators, high operational standards | Client fund segregation, negative balance protection, educational resources | a low-cost forex broker ideal for those who need some extra tools to build their trading strategies. |
FP Markets | 👉 Open Account | ASIC-regulated, client money protection rules compliance | Negative balance protection, client fund segregation, risk management tools | a broker with an impressive range of trading instruments and really attractive terms for clients. |
IC Markets | 👉 Open Account | Regulated by ASIC, strict regulatory requirements, including client fund segregation | Negative balance protection, uses top-tier banks for client fund segregation | Very well known for their low trading fees and tight spreads. |
CMC Markets | 👉 Open Account | Regulated by ASIC, compliance with regulatory standards | Negative balance protection, client fund segregation, educational resources | Competitive spreads, extensive market research tools, and dynamic trading platforms |
GO Markets | 👉 Open Account | ASIC-regulated, strict guidelines on operational conduct and client fund segregation | Negative balance protection, segregated client accounts, risk management tools | a multi-regulated and multi-awarded CFD broker that offers very favorable trading conditions to its clients at very competitive prices. |
eToro | 👉 Open Account | Regulated by ASIC and other bodies,Globally best Regulated Broker. | Guaranteed stop loss, negative balance protection, risk management features | Social trading network, diverse financial asset offerings, copy trading service |
Pepperstone | 👉 Open Account | Regulated by Asic, it is an Australian-based Forex service provider | Negative balance protection, client fund segregation, educational resources | Low latency trading, no dealing desk, multiple trading platforms |
IG
The Australian Securities and Investments Commission (ASIC) regulates IG to ensure it meets strict financial requirements and operates with integrity. For traders, this implies improved money protection, emphasizing openness and fairness in trading procedures, resulting in a safe and dependable trading environment that meets Australian regulatory standards.
Unique Features
🔎Broker | IG |
⚖️Regulation | FCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA |
💰Minimum Deposit | $250 |
💳Sign-up Bonus? | No |
📊Spreads | From 0.1 pips |
📈Leverage | 1:30 (Retail), 1:222 (Pro) |
💳Commission | From 0.105 |
❌Inactivity Fee | $12 after 24 months |
💻Account Types | CFD, Spread Betting, DMA |
👉 Open Account | 👉 Open Account |
IG Pros and Cons
✅Pros | ❌Cons |
IG is well-regulated in several regions, including the ASIC in Australia | IG might be complex for beginners to navigate |
The broker adheres to international regulatory standards | Spreads can vary greatly, affecting trading fees |
Investor protection, such as negative balance protection, is available | There is a high minimum deposit |
IG is known for its transparent pricing and risk warnings | There are leverage restrictions |
Admirals
Admirals’ compliance with ASIC regulatory requirements demonstrates its dedication to maintaining the high degree of financial integrity and client money security necessary in Australia. Traders may anticipate a secure trading environment with clear operating processes to safeguard their interests.
Unique Features
🔎Broker | Admirals |
⚖️Regulation | FCA, ASIC, CySEC, JSC, FSCA, FSA, CMA |
💰Minimum Deposit | $0 |
💳Sign-up Bonus? | Yes, 30 USD No-deposit bonus |
📊Spreads | From 0.0 pips |
📈Leverage | 1:30 (retail), 1:500 (Pro) |
💳Commission | From $0.02 |
❌Inactivity Fee | $10 after 2 years of inactivity |
💻Account Types | Trade.MT4, Zero.MT4, Trade.MT5, Invest.MT5, Zero.MT5 |
👉 Open Account | 👉 Open Account |
Admirals Pros and Cons
✅Pros | ❌Cons |
Admirals are multi-regulated | Leverage for retail traders is limited |
Negative balance protection is applied to retail accounts | Inactivity fees apply |
Client funds are kept in segregated accounts | There are restrictions on certain products according to regions |
Admirals offer extensive educational materials |
AvaTrade
AvaTrade is licensed by ASIC and assures it adheres to Australia’s financial services requirements. This involves preserving customer cash in separate accounts, protecting traders’ investments, and ensuring that the broker acts transparently and fairly.
Unique Features
🔎Broker | AvaTrade |
⚖️Regulation | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC |
💻Minimum Deposit | $100 |
💰Sign-up Bonus? | No |
📊Spreads | From 0.9 pips (Retail), 0.6 pips (Pro) |
📈Leverage | 1:30 (Retail), 1:400 (Pro) |
💳Commission | None; only the spread is charged |
❌Inactivity Fee | $50 after 3 months, $100 after 12 months of inactivity |
💻Account Types | Standard Retail Account |
👉 Open Account | 👉 Open Account |
AvaTrade Pros and Cons
✅Pros | ❌Cons |
AvaTrade is a trusted broker with several licenses and regulations globally, including ASIC | ASIC leverage restrictions apply to retail traders |
AvaTrade offers top-notch customer support and self-help resources | The withdrawal times can be lengthy |
There are several risk management tools available | There might be restrictions on the products available to traders |
AvaTrade has transparent trading conditions |
Axi
Axi is regulated by ASIC, which adheres to Australia’s financial safety and operational transparency requirements. Traders interacting with Axi may be certain that their money is secure and that the broker’s trading methods are fair.
Unique Features
🔎Broker | Axi |
⚖️Regulation | ASIC, SVG FSA, FCA, FMA, DFSA |
💰Minimum Deposit | $0 |
💳Sign-up Bonus? | No |
📊Spreads | From 0.0 pips |
📈Leverage | 1:500 |
💳Commission | From $7 per round turn |
❌Inactivity Fee | $10 after 12 months |
💻Account Types | Standard, Pro, Elite |
👉 Open Account | 👉 Open Account |
Axi Pros and Cons
✅Pros | ❌Cons |
Axi has high standards of operational integrity through its ASIC regulation | There might be leverage restrictions |
All retail accounts have negative balance protection | There may be restricted access to certain financial instruments because of regulatory compliance |
Axi offers educational materials and resources | The account verification can be complex |
Axi is known for its competitive zero-pip spreads |
FP Markets
As an ASIC-regulated firm, FP Markets is dedicated to upholding the high standards of financial conduct and trader protection necessary in Australia. This dedication translates into a secure trading environment for traders, focusing on client money safety and clear trading conditions.
Unique Features
🔎Brokers | FP Markets |
⚖️Regulation | ASIC, CySEC, FSCA, FSA, FSC |
💰Minimum Deposit | AU$100 |
💳Sign-up Bonus? | No |
📊Spreads | From 0.0 pips |
📈Leverage | 1:500 |
💳Commission | From US$3 per side, US$6 per lot |
❌Inactivity Fee | None |
💻Account Types | Standard, Raw, Islamic Standard, Islamic Raw |
👉 Open Account | 👉 Open Account |
FP Markets Pros and Cons
✅Pros | ❌Cons |
There are several risk management features available that align with regulatory standards | The range of products and platforms could be complex for beginners to navigate |
Traders have access to several international markets | Because of strict regulation, there are disclosures and documents to navigate through |
All client funds are safely kept in segregated accounts | There are withdrawal and deposit restrictions due to AML policies |
FP Markets is well-regulated and has a good reputation |
IC Markets
ASIC oversight of IC Markets demonstrates the company’s dedication to Australia’s tight regulatory framework, emphasizing client funds safety via segregated accounts and creating a transparent and fair-trading environment for its traders.
Unique Features
🔎Broker | IC Markets |
⚖️Regulation | ASIC, CySEC, FSA, SCB |
💰Minimum Deposit | $200 |
💳Sign-up Bonus? | No |
📊Spreads | From 0.0 pips |
📈Leverage | 1:500 |
💳Commission | From $3 to $3.50 |
❌Inactivity Fee | None |
💻Account Types | cTrader, Raw Spread, Standard |
👉 Open Account | 👉 Open Account |
IC Markets Pros and Cons
✅Pros | ❌Cons |
IC Markets is a popular broker regulated by several top entities globally | Leverage is capped according to the financial instruments |
The trading conditions are competitive | There might be limitations on the availability of certain instruments |
IC Markets is known for its robust and feature-rich technology and platforms | There is a rigorous and extensive verification process that could take some time to navigate |
IC Markets offers extensive educational material and superior customer support |
CMC Markets
CMC Markets’ commitment to ASIC laws guarantees that it operates with high financial openness and integrity, giving traders peace of mind that their assets are handled safely and that the trading environment is fair and transparent.
Unique Features
🔎Broker | CMC Markets |
⚖️Regulation | BaFin, FCA, ASIC, MAS, FMA, IIROC, DFSA |
💰Minimum Deposit | $0 |
💳Sign-up Bonus? | No |
📊Spreads | From 0.5 pips |
📈Leverage | 1:30 |
💳Commission | From 0.1% per share |
❌Inactivity Fee | 10 GBP after 12 months |
💻Account Types | CFD |
👉 Open Account | 👉 Open Account |
CMC Markets Pros and Cons
✅Pros | ❌Cons |
CMC Markets applies for negative balance protection | Leverage is capped at 1:30 |
There are transparent fee schedules | New traders might find CMC Markets’ software complex |
CMC Markets offers a diverse range of tradable instruments across markets | There might be higher trading fees |
CMC Markets is multi-regulated |
GO Markets
GO Markets’ ASIC regulation demonstrates its dedication to upholding the high standards of financial safety, openness, and honesty anticipated in the Australian financial industry.
Unique Features
🔎Broker | GO Markets |
⚖️Regulation | ASIC, FSA Seychelles, FSC Mauritius, CySEC |
💰Minimum Deposit | AU$200 |
💳Sign-up Bonus? | No |
📊Spreads | From 0.0 pips |
📈Leverage | 1:500 |
💳Commission | From US$2.50 |
❌Inactivity Fee | None |
💻Account Types | Standard, GO Plus+ |
👉 Open Account | 👉 Open Account |
GO Markets Pros and Cons
✅Pros | ❌Cons |
GO Markets is well-regulated by ASIC and several other entities | Account opening and maintenance involve rigorous KYC procedures |
There are several educational and analytical resources to help traders make informed decisions | Leverage limits might apply |
There are risk management tools to help traders minimize their losses | There might be regional restrictions on the markets available to traders |
Client fund security is guaranteed |
eToro
eToro is licensed by ASIC, guaranteeing traders’ money is safely maintained in segregated accounts and that they benefit from fair and transparent trading methods.
Unique Features
🔎Broker | eToro |
⚖️Regulation | CySEC, FCA, ASIC, FinCEN, FINRA, SIPC, DNB, FSA |
💰Minimum Deposit | $200 |
💳Sign-up Bonus? | No |
📊Spreads | From 1 pips |
📈Leverage | 1:30 (Retail), 1:400), Pro |
💳Commission | None |
❌Inactivity Fee | Yes, $10 per month after a year |
💻Account Types | Standard Account |
👉 Open Account | 👉 Open Account |
eToro Pros and Cons
✅Pros | ❌Cons |
eToro offers negative balance protection | There are limited customization options with the platform |
eToro is a reputable social trading platform | There are limited customization options |
All accounts receive negative balance protection | |
eToro is transparent about its operations and trading conditions |
Pepperstone
Pepperstone, regulated by ASIC, proves its dedication to following regulatory criteria such as financial transparency, client money security via segregation, and fair trading procedures by providing Australian traders with a safe and dependable trading platform.
Unique Features
🔎Broker | Pepperstone |
⚖️Regulation | ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB |
💰Minimum Deposit | AU$200 |
💳Sign-up Bonus? | No |
📊Spreads | From 0.0 pips |
📈Leverage | 1:200 (Retail), 1:500 (Pro) |
💳Commission | From AU$7 |
❌Inactivity Fee | None |
💻Account Types | Standard Account, Razor Account |
👉 Open Account | 👉 Open Account |
Pepperstone Pros and Cons
✅Pros | ❌Cons |
Pepperstone focuses on the best execution practices | There is a lack of extensive education |
All client funds are held in segregated accounts | There are leverage limits applied |
Pepperstone has competitive conditions and fees | |
All retail accounts are protected by negative balance protection |
Conclusion
In our experience, ASIC’s regulatory framework is critical in establishing the landscape of Australian forex and CFD trading, ensuring that traders continue to trade in a safe and transparent environment.
ASIC’s latest upgrades and improvements to its standards, such as implementing leverage limits, greater transparency requirements, and stronger client money protection laws, demonstrate the regulator’s commitment to investor safety and market integrity.
These changes necessitate forex and CFD brokers to constantly adapt their operations and compliance standards, emphasizing openness, fairness, and risk management in customer interactions.
As the financial markets develop, so does ASIC’s regulatory strategy, exhibiting a responsive and proactive attitude to evolving trends and issues.
Overall, this dynamic regulatory framework keeps Australia’s financial markets competitive and appealing to both local and foreign traders, encouraging a culture of innovation and safety in forex and CFD trading.
Frequently Asked Questions
What are the benefits of using an ASIC-regulated forex broker?
You are protected by tougher legislation and consumer protections, which provide better security and transparency.
Who is ASIC?
The Australian Securities and Investments Commission (ASIC) is an independent Australian government entity that regulates financial services. It oversees market and financial services activities to promote fairness, transparency, and consumer and investor protection.
Do ASIC regulations apply to all forex brokers?
Brokers based in Australia or targeting Australian customers.
Who is the best ASIC-regulated forex broker?
It is a subjective decision based on individual trading requirements, preferences, and priorities, such as trading platforms, instruments provided, customer support, and trading conditions.
However, some of the best include AvaTrade, IC Markets, and GO Markets.
How do I find the best ASIC forex broker for me?
Consider costs, spreads, platforms, customer service, and available products depending on your trading requirements.
What are the risks of using a non-ASIC regulated broker?
You have less protection and may be vulnerable to fraud, unfair practices, and increased risks.
What are the recent changes to ASIC regulations for forex brokers?
Leverage restrictions have been decreased, negative balance protection is required, and CFD marketing is banned.
You are protected by tougher legislation and consumer protections, which provide better security and transparency.
The Australian Securities and Investments Commission (ASIC) is an independent Australian government entity that regulates financial services. It oversees market and financial services activities to promote fairness, transparency, and consumer and investor protection.
Brokers based in Australia or targeting Australian customers.
It is a subjective decision based on individual trading requirements, preferences, and priorities, such as trading platforms, instruments provided, customer support, and trading conditions.
However, some of the best include AvaTrade, IC Markets, and GO Markets.
Consider costs, spreads, platforms, customer service, and available products depending on your trading requirements.
You have less protection and may be vulnerable to fraud, unfair practices, and increased risks.
Leverage restrictions have been decreased, negative balance protection is required, and CFD marketing is banned.