Best ASIC Regulated Forex Brokers in Australia 2020

ASIC Regulated Forex Brokers, are FX brokers that are fully regulated by the Australian Securities and Investments Commission and have a physical presence in the Australia.  Australia is seen as one of the largest financial Forex Trading hubs in the world which controls and oversees activities along with operations through the independent authorizing body Australian Securities and Investments Commission (ASIC).

 

Who is ASIC?

 

ASIC is Australia’s form of an independent regulatory agency, a self-governing organization established to oversee activities of companies dealing in financial services. All financial companies situated in Australia are required to be registered with the ASIC, and are expected to strictly adhere to all regulatory guidelines as mentioned by the ASIC from time to time. You can read more about ASIC here – https://asic.gov.au/

 The Australian Securities and Investments Commission (ASIC) is one of the oldest regulatory bodies for financial services, that supervises the securities and investment market in Australia.

It is a standalone government organization that was first introduced back in 1998. ASIC nowadays oversees the operations of some of the top forex brokers in Australia, as the country’s financial sector has been growing for the past decade. ASIC is also responsible to oversee the operations of the Australian Stock Exchange. It acts as an independent regulatory organization for both the brokers and the investors.

ASIC regulated brokers have a very special place amongst traders due to the higher number of genuine and honest brokers that operate out of Australia due to the new and improved ASIC regulations.

Featured Forex Brokers

We decided to do all the hard work for you and guide you through the all the noise of the financial betting market. Our team of expert analysts, has created a unique collection of forex broker reviews, based on various criteria and data points for you to choose from.

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15 of the Best ASIC Regulated Forex Brokers available include

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XM

XM

 

Name:                                 XM GROUP PTY LIMITED

Registration date:           16/04/2008

Regulator:                         Australian Securities & Investments Commission

 

XM provides traders with a large selection of assets to choose from and is regulated by some of the most respected financial bodies in the sector.

XM’s research offering is above the industry standard, and pricing at XM  varies by account type.

Pros Cons
Offers traders 57 currency pairs and CFD trading in commodities, indices, metals, energies, and cryptocurrencies. Not available to US customers due to regulatory constraints
Major trading platforms MT4 and MT5 are offered to all traders. Metatrader trading platforms only
Regulated by the world’s most respected regulatory bodies.
An accomplished and well-rounded package -the best broker for new traders.

 

XM is owned by Trading Point Financial Instruments Ltd and was established in 2009 and the company is an international brand, with headquarters in Sydney, London, and Belize. 

Instrument Number
Currency Pairs 57
Equity Indices 30
Stocks 1,184
Precious Metals 4
Commodities 8
Energies 5
Shares 100

The XM Group offers traders three specific account types to choose from including –

 

Live trading accounts

 

  • For traders within the EU, the XM Group Micro Account and the XM Group Standard Account both feature an unbeatable minimum deposit of $5.
  • The XM Group Zero Account is also offered to traders within the EU and carries a minimum deposit requirement of $100 and spreads start from 0 Pips.
  • Australia-based traders can benefit from the XM Ultra-Low Account with a minimum deposit of $50, this account type offers spreads starting from 0.6 Pips.
  • Traders located outside Australia and the EU, can take advantage of the XM Group Shares Account. This account is only available in US dollars and focuses on trading share CFDs.

 

Demo accounts:  XM Group offers traders forex demo accounts with starting balances of $100,000 with the opportunity to practice using each of the account types listed above.

Islamic accounts:  Clients who follow the Muslim faith can also open Islamic accounts with XM Group.

 

Support services are available via telephone, email, and live chat, and these are available 24 hours a day, from Monday to Friday.

 

Alpari

Alpari

 

Former name(s):           ALPARI PTY LTD

Status:                                Registered

Regulator:                        Australian Securities & Investments Commission

 

Alpari International is a quality STP/ECN broker with a rich history and offers traders a variety of account types, advantageous trading conditions, and quality customer service, Alpari International is a good option for traders, from beginners to professionals.  Beginners will have access to a free demo account, a micro account, and social trading, experienced traders on the flip side can enjoy ECN trading.

Alpari International offers traders a variety of account types tailored to different levels of trading experience plus STP and ECN accounts.  The cost of trading with Alpari International varies based on the account a trader chooses to open.

 

Customer support is available in multiple languages, including English, Indonesian, Spanish, and more. You can reach them via live chat, phone, or email.

 

Pros Cons
Diverse selection of tradable assets Limited educational resources
Attractive bonuses and cashback program Lack of research tools
Great leverage and social trading available
Low minimum deposit
Best broker for copy trading accounts

 

easyMarkets

easyMarkets

 

Name:                                easyMarkets Pty Ltd

Registration date:         10/09/2014

Status:                                Registered

Regulator:                        Australian Securities & Investments Commission

 

easyMarkets is a multi-award-winning forex and CFD broker regulated by both CySec and ASIC.

At easyMarkets, traders can take their pick from 200 tradable assets, including currency pairs, shares, cryptos, commodities, indices, and metals. Traders can also choose from 4 different account types and enjoy relatively low minimum deposit limits.

 

easyMarkets offers training resources, market news, trading tools, and research and a multi-lingual customer support team is also readily available to assist via multiple communication channels.

Pros Cons
Speedy trade execution with minimum slippage No service to clients from over 20 countries and regions
Availability of modern trading platforms Due to European regulations, bonus is not available to EU traders
Guaranteed stop loss on trading of over 200 instruments
Provision of research, news and trader tools
Best broker for beginner traders

easyMarkets offers international clients three main account types to choose from, whilst EU clients can opt for only the VIP account and for international clients, each account type is based around spreads, transaction sizes, and the amount of funds at the trader’s disposal.

 

The easyMarkets website is fully mobile compatible and free educational materials for novice traders, including over 15 training videos, 10 downloadable eBooks and a glossary of trading terminologies is on offer.

 

CityIndex

CityIndex

 

Name:                                   CITY INDEX PTY LTD

Registration date:           23/07/2019

Status:                                  Registered

Regulator:                          Australian Securities & Investments Commission

 

CityIndex group accepts clients from all over the world, excluding USA, Canada, Afghanistan, Angola, Belarus, Belgium, Burundi, Central African Republic, Chad, Congo, Cote D’Ivoire, Cuba, Equatorial Guinea, Eritrea, Guinea, France, Guinea-Bissau, Haiti, Hong Kong, Iran, Iraq, Israel, North Korea, Lebanon, Liberia, Libya, Myanmar, New Zealand, Nigeria, Sierra Leone, Somalia, Sudan, Syria, Turkmenistan, Uzbekistan, Venezuela, Western Sahara, Yemen, Zimbabwe.

Distinctive features of CityIndex include:

 

  • CityIndex UK offers Spread Betting on currency pairs, shares and commodities.
  • Authorised and regulated by a government agency in several counties.
  • Thousands of stocks available for trading.
  • Tight spreads on major currency pairs.

 

Trading Instruments on Offer from CityIndex includes:

 

Instruments
80+ Currency Pairs Based on major and minor world currencies.
15 Currency Forwards Based on major world currencies.
5 Crypto Cash CFDs Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple.
17 Indice Cash CFDs Based on baskets of different blue-chip stocks.
20 Indice Futures Based on baskets of different blue-chip stocks, US Dollar Index and Volatility Index.
4 Metal Spot CFDs Based on Gold and Silver.
5 Metal Futures Based on Gold, Silver, Platinum, Palladium and Copper.
6 Energy Futures Based on Crude Oil (WTI, Brent), Heating Oil, Gas Oil, Gasoline and Natural Gas.
18 Soft Futures Based on Coffee, Robusta, Sugar, Corn, Cotton, Cocoa, Wheat, Lumber, Oats, Orange Juice, Soybean, Soybean Oil, Lean Hogs and Live Cattle.
11 Bond Futures Based on US, UK, German and Italian government securities.
4500+ Stock CFDs Based on shares of AU, US, UK and EU companies.
3 Interest Rate Futures Based on Euribor, Eurodollar, Short Sterling.

 

 

thinkmarkets

ThinkMarkets

 

Name:                                THINKMARKETS PTY LTD

Registration date:           11/06/2015

Status:                                Registered

Regulator:                         Australian Securities & Investments Commission

 

Think Markets group accepts clients from all over the world but exclude traders from the USA, Canada, Japan and some other countries where restrictions apply.

 

  • Authorised and regulated by credible government agencies.
  • Various tutorials, guides, educational materials and trading tools.
  • More than a thousand stocks and dozens of ETFs.
  • Negative balance protection promised.
  • Tight spreads on major currency pairs.
  • Bitcoin funding accepted.

 

Trading Instruments on offer include:

Instruments
35+ Currency Pairs Based on major and minor world currencies.
5 Crypto Pairs Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple.
14 Indices CFDs Based on baskets of different blue-chip stocks and US Dollar Index.
7 Metal CFDs Based on Gold, Silver, Platinum and Copper.
3 Energy CFDs Based on Crude Oil (WTI, Brent) and Natural Gas.
6 Soft Futures Based on Cocoa, Coffee, Cotton, Corn, Soybean, Wheat.
1200+ Stock CFDs Based on shares of AU, US, UK, EU, South Africa and Hong Kong companies.
50+ ETF CFDs Based on exchange-traded funds containing various tradable assets.

 

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broker-fpmarkets

FPMarkets

 

Name:                                   FP MARKETS

Registration date:           15/05/2014

Status:                                  Registered

Regulator:                          Australian Securities & Investments Commission

 

Founded in:                      2005

Headquarters:                  Australia

Regulation:                       CySEC, ASIC

Platforms:                         MT4, MT5, IRESS, and WebTrader

Leverage:                           1:500

Minimum Deposit:         100$

 

FP Markets is a global, online broker which was founded in 2005 and offer Forex trading and has a head office situated in Australia.

When starting off with FP Markets traders will need to make a minimum deposit of $100 and a demo account is on offer with a wide variety of instruments and currency pairs on offer.

 

Over 100 instruments and over 60 currency pairs in total is on offer, on the popular MT4 forex trading platform.  FP Markets also offers traders mobile apps for Android and iOS.

 

FP Markets Trading benefits include:

 

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection

 

FP Markets Trading Accounts Offered include: Demo, Mini, Standard, ECN, STP, Managed and Islamic and all accounts support a wide range of languages including English, Spanish, Portuguese, Romanian, Bulgarian, Arabic, Russian, French, Italian, Greek, Philippines, Latvian, Polish, Indonesian, Thai, Malay, German, Vietnamese.

 

 

OANDA

Oanda

 

Name:                                OANDA PTY LTD

Registration date:           23/01/2015

Status:                                Registered

Regulator:                         Australian Securities & Investments Commission

 

OANDA is the Most Regulated Forex Broker and operate across six of the most credible authorities including:

 

  • Australia AISC (Australian Securities and Investments Commission)
  • United States CFTD (Commodity Futures Trading Commission)
  • Europe and UK FCA – (Financial Conduct Authority)
  • Japan IFFA (Institute Financial Futures Association)
  • Singapore MAS (Monetary Authority of Singapore)
  • Canada IIROC (Investment Industry Regulatory Organization of Canada)

 

OANDA Focuses on Transparency

 

OANDA is focused on pricing transparency and customer satisfaction and they offer real-time data from liquidity providers and finds mid-points across instruments. When it comes to customer support, OANDA boasts multiple customer service awards for 24 hours/6 days a week support. Live chat, emails and phone support is available.

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icmarkets

IC Markets

 

Registration date:                         03/09/2016

Status:                                               Registered

Regulator:                                        Australian Securities & Investments Commission

 

IC Markets is an online broker which was established in 2007 and offers Forex, CFDs, Spread Betting, Share dealing and Cryptocurrencies tradingIC Markets are a global broker with a head office situated in Australia.

 

  • Used by over 60,000 traders

 

Traders who would like to trade with IC Markets will need to make a minimum deposit of $200. Traders have the option to trade in over 232 instruments and over 65 currency pairs.

 

IC Markets Trading benefits:

 

  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection

 

IC Markets offers support in a wide range of languages including English, Japanese, Chinese, Polish, Afrikaans, Danish, Dutch, German and more.

 

Admiral Markets

Admiral Markets

 

Name:                                ADMIRAL MARKETS PTY LTD

Registration date:        21/06/2011

Status:                                Registered

Regulator:                        Australian Securities & Investments Commission

 

Admiral Markets is an online broker which was founded in 2001 and offers Forex and CFDs trading, is globally recognized and has a head office based in the UK.  Traders will need a minimum deposit of $200 to start and can sign up for a demo account to in over 148 instruments and over 40 currency pairs.

 

Admiral Markets offers both of the MetaTrader platforms; MT4 and MT5 and mobile apps for Android and iOS.

 

Admiral Markets Trading benefits include:

 

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection

 

Admiral Markets Trading Accounts Offered:

 

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • ECN account
  • STP account

 

Admiral Markets offers support in a wide range of languages including English, Spanish, Hungarian and much, much more!

fxopen-logo

FXOpen

 

Registration date:                          17/05/2010

Status:                                                 Registered

Regulator:                                         Australian Securities & Investments Commission

 

FXOpen was founded in 2003 and is regulated by one tier-1 regulator, FXOpen is a reputable MetaTrader broker and offers social-trading platforms ZuluTrade and Myfxbook.  FXOpen is considered as average-risk, and depending on the account type chosen, ranging from ECN and STP to Micro, FXOpen offers several pricing options for both commissions and fees. 

 

FXOpen is predominantly a standard MetaTrader broker.

 AxiTrader

AxiTrader

 

Name:                                 AXITRADER

Registration date:         08/12/2011

Status:                                Registered

Regulator:                         Australian Securities & Investments Commission

 

Axitrader is an online broker which was founded in 2007 and offers Forex, CFDs and Social Trading, is a global broker and has a head office situated in Australia with no minimum deposit needed to get started plus a demo account is on offer.

 

Axitrader is able to accommodate various levels of traders and offers the MT4 forex trading platform plus mobile apps for Android and iOS, respectively.

 

Axitrader Trading benefits include:

 

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

 

Axitrader Trading Accounts on Offer include Demo, Micro, Mini, Standard, ECN, STP and Islamic and support is offered in a wide range of languages including English, Chinese, Spanish, German, Japanese, Russian, Romanian, and Arabic.

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etoro

Etoro

 

Registration date:         24/08/2017

Status:                                Registered

Regulator:                         Australian Securities & Investments Commission

 

eToro is an online broker which was founded in 2006 and offers CFDs and Social Trading, with a head office based in Cyprus, UK.  eToro offers traders two ways to trade: CFDs, Social Trading and eToro traders will need to make a minimum deposit of $200 and the platform can accommodate various levels of traders from beginner to expert.

 

eToro is supervised by the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies and has been in operation for over 14 years.

 

Traders can trade in a wide variety of over 100 instruments and over 50 currency pairs on eToro’s user-friendly custom trading platform which is available as a browser-based web application. eToro also offers traders mobile apps for Android and iOS, making it easier to keep an eye on and execute trades.

 

eToro trading accounts on offer include:  Demo, Micro, Mini, Standard, STP and Islamic.  eToro supports a wide range of languages including English, German, Spanish, French, and Italian.

FIBO Group

FIBO Group

 

Registration date:                          5/06/2018

Status:                                               Registered

Regulator:                                        Australian Securities & Investments Commission

 

Fibo Group is an online broker which was founded in 1998 and offers both Forex and Social TradingFibo Group is a global broker with a head office situated in the British Virgin Islands.

 

  • Used by over 10,000 traders
Pros Cons
Segregates client funds Doesn’t offer VPS
Established in 1998 Limited range of instruments
Regulated by Financial Conduct Authority
Low minimum deposit

Traders have a wide variety of over 100 instruments and 45 currency pairs to choose from and Fibo Group is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5.

 

Fibo Group Trading benefits include:

 

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection

 

Fibo Group offers support in a wide range of languages including English, French German, Chinese, Farsi, Spanish, Indonesian and Russian.

 

GKFX

GKFX

 

Registration date:                          29/02/2012

Status:                                               Registered

Regulator:                                        Australian Securities & Investments Commission

 

GKFX is a forex, CFD and spread betting broker which offers traders access to major markets including currenciesindices, commodities and shares. And for traders interested in cryptocurrencies like Bitcoin, GKFX is one of the few brokers which also offer cryptocurrency CFDs.

 

Pros Cons
Diverse selection of tradable assets Limited account type options
Attractive bonuses and cashback program
Great leverage and social trading available
Min. deposit from $20
Best broker for copy trading accounts

 

To open a live account, you’ll need a minimum deposit of at least $20 and GKFX has a BrokerNotes double AA support rating because GKFX offer live chat, phone, email support and less than three languages.

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gomarkets

GoMarkets

 

Registration date:                          5/03/1998

Status:                                                 Registered

Regulator:                                          Australian Securities & Investments Commission

 

GO Markets is an ASIC regulated Australian brokerage firm founded in 2006 and it offers traders over 250 forex/CFDs assets for trading on its MetaTrader platforms.

Pros Cons
GO Markets is a regulated brokerage entity, with transparent trading conditions. Clients from over 35 high risk and other monitored jurisdiction are not accepted, which is a lot.
Ultra-fast trade executions Only two account types available
Availability of trading and analysis tools like Autochartist and Trading central. Swap free offered in MENA region only.
Clients’ fund segregation.
Low minimum deposit

Account types on offer include the Standard and GO Plus+ accounts and the minimum account opening amounts are AUD200 and AUD500 respectively. Demo accounts are also provided with virtual funds for practice purposes.

 

GO Markets offers customer support via email, phone, contact us form, web chat and social media 24/5.

How to Choose A Preferred ASIC Broker?

 

ASIC is home to some of the largest names in the industry plus a multitude of mainstream brokers with multiple regulatory statuses which are bound to have a valid ASIC regulation, which makes it straight-forward for traders to choose an ASIC regulated broker without much difficulty.

 

What can a trader expect from a broker under ASIC?

 

All traders should make sure that their investment is safe by ensuring that their chosen broker is authentic and reliable before making deposits of money or proceeding in a trade. Even though the market is massive and it might seem that they won’t be, many brokers are dishonest about whether they are licenced in order to continue indulging in scams and fraud.

 

Brokers who are based in Australia must have licencing from the financial services will have the ASIC on their records and lists. Every broker under ASIC in Australia has a unique Australia Financial Services Licence number verifiable by checking the ASIC’s official website. 
 

How Does An ASIC Regulation Protects The Trader

 

So what does it mean trading with an ASIC regulated forex broker? As ASIC is considered to be one of the most strict and efficient regulators in the world, many traders prefer to trade with brokers regulated by this body as they feel more safe.

ASIC enforces the following rules and safeguards that protect traders and investors:

  1. All brokers are required to keep client funds in segregated accounts
  2. ASIC requires that all trading on a brokers platform needs to be seamless and there should be no interference with any clients positions.
  3. Forex Brokers need to maintain at least one million dollars in operating capital in order to get their ASIC license.
  4. All Brokers are required to hold an AFC license as well (Australian Financial Securities License). This license enables brokers to conduct trading legally in the region.

ASIC also has a few advantages for forex traders:

  1. ASIC does not enforce a FIFO rule. This means traders can close any position they want regardless of when they opened it
  2. ASIC does not enforce a no hedging rule. Traders can hedge their trades if the broker supports this option.
  3. ASIC does not enforce a leverage limit for any kind of traders

 

In Conclusion

 

ASIC Forex brokers have rapidly become one of the most popular topics of discussion in the retail Forex trading industry due to the rising number of ASIC regulated brokers and the increased protection of funds provided by the ASIC regulation.  A trader must proceed with extreme caution if the broker refuses to provide the information as ASIC requires that all information about the broker must be availed to traders when requested as this regulator puts the importance of protecting its investors first on the to do list and ASIC protects the investing public and ensures that they do not do business with banned professionals.