ASIC Regulated Brokers


ASIC is a regulator for forex brokers located in Australia. 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. Just like 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.

The Establishment of ASIC departs from the 2015 SNB incident which shook the futures trading industry. This incident caused the bankruptcy of 2 brokers and caused hundreds of brokers big losses. Australian brokers that able to survive are proven to have better risk management. From these problems, emerged an idea to revise the broker's regulatory mechanism in handling market challenges. Since then, ASIC has become one of the most competent broker regulation standards worldwide.

Therefore, ASIC has quite strict requirements, including:

  1. Risk limitation
  2. Bonus Prohibition
  3. 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 has a physical office that can be visited in Australia. Bonuses are also not allowed because these promotions are often misused to attract new clients without a clear TnC. ASIC also provides an online portal titled MONEYSMART, so prospective traders can first understand the ins and outs of trading. This is an anticipation that the public understands the risks of forex trading and is not trapped in a scam.

Here is a list of ASIC regulated brokers:

Broker Regulation Max Leverage Min Deposit General Rating
FXCM
Australia
1999
ASIC 309763
CONSOB (Italy) 76
DMCC (Dubai) 31171
FCA (UK) 217689
ISA (Israel) 2
SFC (Hong Kong) AIM232
1:400 $1 Review
Pepperstone
Australia
2010
ASIC 223682
BaFin 151148
DFSA (Dubai) F004356
1:500 $200 Review
eToro
China
2007
ASIC 491139
CySEC 109/10
FCA (UK) FRN 583263
FINRA 298361/SEC#: 8-70212
1:400 $200 Review
Plus500
Australia
2008
ASIC 417727
CySEC 250/14
FCA (UK) 509909
FSCA (South Africa) 47546
ISA (Israel) 5
Monetary Authority of Singapore 2017-12-11
1:300 $100 Review
Trade360
Cyprus
2013
ASIC 439907
CySEC 202/13
1:200 $500 Review
easyMarkets
Australia
2001
ASIC 246566
CySEC 079/07
FSA (Seychelles) 19.09.2020
1:400 $100 Review
City Index
United Arab Emirates
2001
ASIC ACN 141 774 727 AFSL 345646
FCA (UK) 113942
Monetary Authority of Singapore 200400922K
1:30 $250 Review
Admiral Markets
Argentina
2001
ASIC 28381
CySEC 201/13
FCA (UK) 595450
FSA (Estonia) 10932555
1:500 $100 Review
Saxo Bank
China
1992
ASIC 109605610
Banque de France 483632501
CySEC 163/12
FCA (UK) FC026688
FSA (Denmark) 1149
SFC (Hong Kong) 1395901
1:200 $10000 Review
GKFX
Chile
2009
ASIC 421210
BaFin 130602
CONSOB (Italy) 2915
Czech National Bank 256/2004
DMCC (Dubai) 32142
FCA (UK) 501320
Finansinspektionen (Sweden) 556873-1326
SFC (Hong Kong) AZJ874
1:30 $100 Review
ThinkMarkets
Australia
2010
ASIC 424700
FCA (UK) 629628
FSCA (South Africa) 06.03.2019
1:500 $250 Review
IC Markets
Australia
2007
ASIC ACN 123 289 109 1:500 $200 Review
XM
Australia
2009
ASIC 443670
BaFin 124161
CNMV (Spain) 2010157773
CONSOB (Italy) 3046
CySEC 120/10
FCA (UK) 538324
FSP (New Zealand) FSP235905
1:888 $5 Review
Advanced Markets
United States
2006
ASIC 444649 1:50 $2500 Review
Interactive Brokers
Australia
1977
ASIC 453554
CFTC/NFA 0258600
FCA (UK) 208159
Monetary Authority of Singapore CMS100917
SEC (US) 8-47257
1:100 $10000 Review
FXOpen
Australia
2003
ASIC 412871
FCA (UK) 579202
1:500 $1 Review
Eightcap
Australia
2009
ASIC 391441
Vanuatu Financial Services Commission 40377
1:500 $100 Review
FP Markets
Australia
2005
ASIC 286354
CySEC 371/18
1:500 $100 Review
AAFX Trading
Australia
2004
ASIC 4240010
FSA (St. Vincent & the Grenadines) 22916 IBC
1:2000 $100 Review
Ingot Brokers
Australia
2004
ASIC 428015
FSP (New Zealand) FSP157304
1:400 $100 Review
Velocity Trade
New Zealand
1999
ASIC 329813
FCA (UK) 497263
Financial Dispute Resolution (NZ) FM0279
FMA (New Zealand) FSP20003
FSCA (South Africa) 43295
1:200 $1000 Review
Royal
Australia
2008
ASIC 420268
CySEC 312/16
1:30 $50 Review
MARKETSX
Cyprus
2006
AFM (Netherlands) 0900-5400 540
ASIC 424008
BaFin 122798
CySEC 092/08
FCA (UK) 607305
FSA (Denmark) 6729
FSCA (South Africa) 46860
1:300 $100 Review
Synergy Markets
Australia
2011
ASIC AFSL 403863 1:500 $100 Review
Blackwell Global
Australia
2010
ASIC 400364
FCA (UK) 590313
FSP (New Zealand) 3061
SFC (Hong Kong) BGX296
1:30 $5000 Review
Core Liquidity Markets
Australia
2013
ASIC 164994049 1:500 $100 Review
Invast Financial Services
Australia
1960
ASIC 438283 1:400 $100 Review
PhillipCapital
Australia
1975
ASIC AFSL 246827
FCA (UK) 169760
1:200 $200 Review
Xtrade
Cyprus
2010
ASIC 342628
CySEC 108/10
IFSC (Belize) IFSC/60/383/TS/15
NAFD (Russia) A
1:400 $100 Review
Fortrade
United Kingdom
2013
ASIC 493520
CySEC 385/20.
FCA (UK) 609970
IIROC 20-0021
NBRB (Belarus) 193075810
1:100 $500 Review
Global Prime
Australia
2010
ASIC 385620
FSA (Seychelles) SD057
Vanuatu Financial Services Commission 40256
1:200 $200 Review
ETO Markets
Australia
2013
ASIC 420224 1:400 $AUD200 Review
Boston Merchant Financial
Australia
1988
ASIC 379035
FCA (UK) 563348
FFMS 1220
FSC (Bulgaria) RG-03-220
FSP (New Zealand) FSP328066
1:400 $50 Review
GOMarkets
Australia
2008
ASIC ACN081864039
DMCC (Dubai) 18.07.2020
1:500 $200 Review
IronFX
Australia
2010
ASIC 417482
CySEC 125/10
FCA (UK) 585561
FSCA (South Africa) 45276
1:30 $100 Review
ACY Securities
Australia
2013
ASIC 403863 1:500 $100 Review
Blueberry Markets
Australia
2016
ASIC 391441 1:500 $100 Review
Anzo Capital
Australia
2015
ASIC AFSL 514425
FSA (St. Vincent & the Grenadines) 308 LLC 2020
IFSC (Belize) 000331/48
1:1000 $100 Review
CLMarkets
Australia
2013
ASIC 164994049 1:500 $100 Review
AvaTrade
Australia
2006
ASIC 406668
Central Bank of Ireland C53877
Financial Futures Association (Japan) 1574
Financial Services Regulatory Authority (Abu Dhabi) 190018
FSA (Japan) 1662
FSC (BVI) 2013-07-30
FSCA (South Africa) 45984
IS
1:400 $100 Review
Axi
Australia
2007
ASIC 318232
DFSA (Dubai) 2758
FCA (UK) 509746
FSCL (New Zealand) FSP518226
1:400 $1 Review
Vantage FX
Australia
2006
ASIC #ACN 140 903 886
Cayman Islands Monetary Authority 1383491
FCA (UK) 501057
1:500 $200 Review
MultiBank
Australia
2005
ASIC 416279
BaFin 73406
DFSA (Dubai) CL3989
FCA (UK) 481068
FSC (BVI) SIBA/L/14/1068
Ras Al Khaimah Free Trade Zone IC/2993/10
1:500 $50 Review

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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.




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