ASIC Regulated Forex Brokers
Australian residents wishing to trade CFDs on stocks, forex, commodities and indices online, may find it beneficial to choose an ASIC Regulated Forex Broker. By trading with a broker regulated by the Australian Securities and Investments Commission (ASIC), traders can have confidence that their funds are secure.
The ASIC was established in 1998 and is now considered to be one of the most prominent financial authorities in the world. It regulates investment services, securities transactions and financial markets that fall within Australia’s jurisdiction. The primary goal is to protect investors and maintain market integrity by effectively maintaining and enforcing a set of rules and regulations.
FX Trust Score took a close look at a large number of ASIC licensed brokers and created a top 5 list of those who scored highly across fundamental criteria. Here are the brokers we recommend.
Overview of ASIC Regulated Forex Brokers
Broker Name: IC Markets
Established: 2007
Australia Office: Sydney
Minimum Deposit: $200
Accepts Australia Clients: Yes
Copy Trading: Yes
Negative Balance Protection: Yes
Pros & Cons
✅ Very low average spreads
✅ Wide range of tradable symbols
❌ High minimum deposit
Broker Name: FP Markets
Established: 2005
Australia Office: Sydney
Minimum Deposit: $50
Accepts Australia Clients: Yes
Copy Trading: Yes
Negative Balance Protection: Yes
Pros & Cons
✅ Excellent choice of trading platforms
✅ Transparent fee structure
❌ Limited crypto markets
Broker Name: GO Markets
Established: 2006
Australia Office: Melbourne
Minimum Deposit: $200
Accepts Australia Clients: Yes
Copy Trading: Yes
Negative Balance Protection: Yes
Pros & Cons
✅ Broad educational resources
✅ Competitive spreads
❌ High minimum deposit
Broker Name: Pepperstone
Established: 2010
Australia Office: Melbourne
Minimum Deposit: $0
Accepts Australia Clients: Yes
Copy Trading: Yes
Negative Balance Protection: Yes
Pros & Cons
✅ Comprehensive trading toolkit
✅ Good trading platform suite
❌ High trading fees
Broker Name: Axi
Established: 2007
Australia Office: Sydney
Minimum Deposit: $0
Accepts Australia Clients: Yes
Copy Trading: Yes
Negative Balance Protection: Yes
Pros & Cons
✅ No minimum deposit req.
✅ Good selection of accounts
❌ Limited trading platform availability
FX Trust Score Comparison of ASIC Regulated Forex Brokers
| Broker | ASIC Regulation | Australia Office | Trading Platforms | Average AUD/USD Spread | Customer Support |
| IC Markets | Licence number: 12 123 289 109 | Level 4/50 Carrington St, Sydney, NSW 2000 | cTrader, MT4, MT5 | 0.4 pips | 24/7 |
| FP Markets | Licence number: 16 112 600 281 | Level 5, Exchange House, 10 Bridge St, Sydney, NSW 2000 | TradingView, cTrader, Iress, Mottai, MT4, MT5 | 1.2 pips | 24/7 |
| GO Markets | Licence number: 85 081 864 039 | Level 11/447, Collins St, Melbourne, VIC 3000 | cTrader, MT4, MT5 | 1.0 pips | 24/7 |
| Pepperstone | Licence number: 12 147 055 703 | Level 16, Tower One, 727 Collins Street, Melbourne, VIC 3008 | TradingView, cTrader, MT4, MT5 | 1.2 pips | 24/5 |
| Axi | Licence number: 85 127 606 348 | Level 13/73, Miller St, Sydney, NSW 2060 | MT4 | 1.3 pips | 24/5 |
The FXTS Verdict – Which are the Best ASIC Regulated Forex Brokers?
This detailed guide focused on some of the best ASIC regulated forex brokers for 2024 by analysing a range of key factors, including the trading platform lineup, customer support availability, average AUD/USD spreads, and others. The official licences of every ASIC broker was cross-checked, alongside with the addresses of each firm’s Australia office being detailed.
In conclusion, FP Markets and Pepperstone stand out for their wide-ranging trading platform offerings, with traders having the greatest choice with these ASIC regulated brokerages. However, the other companies on the list cannot be ignored, with IC Markets and GO Markets particularly impressive with regards to offering 24/7 client support and a solid range of trading platforms. Before making a final decision from the above list of top ASIC brokers, traders are strongly advised to conduct a detailed and thorough investigation of each company’s website prior to opening an account.
FAQs
Look for brokers that offer advanced trading platforms, low spreads and commissions, high leverage options, and a wide range of currency pairs. Excellent customer service, comprehensive educational resources, and solid security measures are also very important. Additionally, ensure that the broker is regulated by reputable authorities like the FCA, ASIC, or CySEC.
Technological innovation is crucial. The best brokers should offer platforms featuring fast execution, real-time access to market data, and tools that allow for automated trading. Mobile trading capabilities and integration with third-party tools and platforms are also important for traders on the go.
Regulation is paramount as it ensures the broker adheres to specific operational standards and offers trader protection measures such as segregated client accounts and participation in compensation schemes. Always choose a broker regulated in a jurisdiction with a strong regulatory framework.
Expect innovative features like enhanced AI capabilities for market analysis, improved risk management tools, and more personalised customer support through AI chatbots. Brokers might also offer increased integration with social trading platforms and blockchain technology for greater transparency in transactions.
The best maintained educational sections tend to feature a wealth of useful resources, including webinars, e-books, and interactive courses. Having a comprehensive range of educational material can significantly affect a broker’s appeal, particularly for new traders. Additionally, responsive and knowledgeable customer support, particularly if it is offered 24/7, can greatly enhance the trading experience.
It’s crucial to understand the fee structure, including spreads, commissions, and potential account maintenance or inactivity fees. Brokers should offer clear transparency about their pricing models and ensure that traders can execute trades without excessive costs.
