Can I trust Australia Forex brokers?

australian flagThe reason why we analyze all Forex brokers is clear – there are many scams out there and we simply do not want you to get in their traps. On the contrary, when you know the situation of all different Forex brokers – depending on different criteria they are distinguished by – you can easily orient what choice you can make and what suits you at most. One of the factors that matters for the Forex broker classification is the residence of each website. As a firm that provides financial services, a broker is always bound by the laws and the main political and economy situation in the country it was registered. On the other side, there are concrete destinations that usually gather the top brokers in the field. Australia, as a matter of fact, is one of these destinations and today this country is going to be our main factor to analyze some specific brokers. Find out more about Forex brokers based in Australia now and determine whether you can trust them and how to approach the top names among them now!

What is the regulation in Australia Forex brokers?

Just like we have said you above, different countries have different, their own national regulation bodies. Called agencies or authorities, these are specialized bodies of government or parts of the independent local regulation system. To protect the brokers and the traders at once, Australian financial services market has been collaborating with the following regulation agencies.

Australian Securities and Investments Commission is the main regulator body for financial services, markets and platforms in Australia and it most cases you will see it by its abbreviation ASIC. This is the agency to which any potential Australian Forex broker must refer to get the necessary license to operate on the market, while, meanwhile, the controlling body of ASIC is also able to get the legal licenses away, too. Australian Securities and Investments Commission supports the personal data protection and it also observes the smooth financial transactions generation. Last, but not least, Reserve Bank of Australia has delegated its control to authorised money market dealers and foreign exchange dealers by putting Australian Securities and Investments Commission in charge to observe how properly they work.

Trusted Forex Brokers that accept Australian Traders

Broker Min Deposit Regulation Bonus Read More Visit Site
XTrade $100 CySEC $20 Free Read Review Visit Broker
XM $5 FSA, CySec $30 Free Read Review Visit Broker
HY Markets $50 FSA, CySec Up to $5000 Read Review Visit Broker

Known by the short name APRA, Australian Prudential Regulator Authority has several rights to manipulate and directly perform on license procedures, as well as in the supervision of the Authorised Deposit-taking Institutions (ADIs). Many disputes by ordinary customers of Australian Forex brokers are handled by Australian Prudential Regulator Authority, too!

The Australian Competition Consumer Commission controls and bans anti-competitive behavior of an Australian Forex broker, too. This commission is an independent one, but it has many additional rights as to the security in Australian Forex brokers, too. Alongside with the two mentioned above agencies, ACCC does form the triple regulation process in Australian Forex brokers.

How to choose a decent Australia Broker?

If you find numerous Australia Forex brokers with at least one of the mentioned above agencies for regulation, you can be sure that safety factor is provided for your financial trading. But what should be the rest of your criteria, when choosing such a broker? Find out now how to find a decent and reliable Australia Forex brokers now and with us. These should be the features that must present in each trading websites based in Australia you are thrilled about:

Join an Australian Forex broker, if this kind of brokers do suit your needs and tell us what you think about it later on mandatory!

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