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List of Brokers with ASIC Regulation

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ASIC is an independent government and regulatory body that aims to protect Australian consumers and investors and is responsible for implementing and enforcing the law, processing, storing, and managing information efficiently, as well as not only maintaining and improving the performance of the Australian financial system but also publishing relevant data and information on companies and entities.

Established
1998
Country
Australia
Amount of Data
51
Broker Regulation
IC Markets

Australia 2007

OANDA

United States 1996

XM

Australia 2009

FXOpen

Australia 2003

FBS

Australia 2009

Admirals

Australia 2001

Interactive Brokers

Australia 1977

ThinkMarkets

Australia 2010

FXCM

Australia 1999

Saxo Bank

Australia 1992

Pepperstone

Australia 2010

FP Markets

Australia 2005

Xtrade

Australia 2010

easyMarkets

Australia 2001

Axi

Australia 2007

AvaTrade

Australia 2006

GOMarkets

Australia 2008

eToro

Australia 2007

Plus500

Australia 2008

IronFX

Australia 2010

Vantage Markets

Australia 2009

VT Markets

Australia 2015

TMGM

Australia 2013

Blueberry Markets

Australia 2016

GKFX

Australia 2009

City Index
Australia 2001

OffersFX
Australia 2010

Advanced Markets
Australia 2006

Eightcap
Australia 2009

Ingot Brokers
Australia 2004

Velocity Trade
Netherlands 1999

Royal
Australia 2008

Synergy Markets
Australia 2011

Invast Financial Services
Australia 1960

PhillipCapital
Australia 1975

Fortrade
Australia 2013

Global Prime
Australia 2010

ETO Markets
Australia 2013

ACY Securities
Australia 2013

VPFX
Australia 2020

Anzo Capital
Australia 2015

CLMarkets
Australia 2013

HFTrading
Australia 2019

Fusion Markets
Australia 2018

TOP1Markets
Australia 2018

AETOS
Australia 2007

Capital.com
Australia 2017

Markets.com
Netherlands 2006

Mitrade
Australia 2018



Advantages and Disadvantages of Trading in ASIC Regulated Brokers

Despite having basic requirements equivalent to the UK and US, ASIC regulated brokers are more flexible in managing their trading conditions. Unlike FCA which limits maximum leverage to only 1:30, ASIC regulated brokers can provide leverage up to 1: 100 or above. Also, ASIC-regulated forex brokers allow hedging strategies without First-In-First-Out regulations. Many ASIC regulated brokers also offer trading on ECN accounts, with the application of the FIX API. The trading technology allows traders to experience faster and transparent transactions.

It should be noted, since 2019, ASIC has issued a regulation that its brokers can only accept domestic clients and compensation funds apply to traders within Australia. This becomes both a deficiency and an excess. Since most ASIC regulated brokerage clients come from the Asia Pacific region, it is not surprising that these brokers have alternative regulations other than ASIC. That way, traders can get services from companies whose work systems have been recognized by ASIC, but still under the trading conditions required by these alternative regulations.



FAQ

What does ASIC regulated mean?

Being regulated by ASIC means operating under the standards of Australian financial regulator. Brokers licensed and recognized as Financial Service Providers (FSPs) in Australia must be registered with ASIC and comply with the Corporate Plan of 2018-2022.


What are the ASIC rules?

In general, ASIC rules are strictly applied to cover risk limitation, bonus prohibition, and consumer enlightenment. The risk management protocol at ASIC regulated brokers includes:

  • A minimum operational fund of 1 Million USD,
  • a segregated account at a tier 1 bank, and
  • a physical office that can be visited in Australia.

Bonuses are also not allowed due to the risks of misusing them to attract new clients without a clear terms and conditions.

ASIC-regulated forex brokers allow hedging strategies without First-In-First-Out regulations. Most of them offer trading on ECN accounts with the application of the FIX API. But it should also be noted that as of 2019, ASIC has issued a regulation that brokers under its regulation can only accept domestic clients. In this case, the compensation funds would only apply to traders within Australia.


What is the main purpose of ASIC?

Just like other forex regulators in general, ASIC's basic task is to oversee forex brokers carry out their company's activities fairly and pay attention to the safety of client funds.

If you are interested to open an account in one of the brokers in the list above, make sure to try the forex demo account before proceeding to register in the live account.