Forex Trading in Australia
The 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
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.
Best and Most Trusted Forex Brokers in 2018
- Australian Prudential Regulator Authority
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!
- Australian Competition Consumer Commission
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:
- Good reputation and experience in the field will protect your doubts whether this is a really trustworthy place to invest your money and to invest your trading time in.
- Perfect customer support, on the other side, are important for all those moments you are simply not able to orient in the website or in some of its trading features and categories.
- Good bonus system with amazing offers to make your financial trading activity more decent, interactive and entertaining.
- As a beginner in the field, you will have to gain some additional experience and knowledge form a broker. Make sure that you look for all those best Forex brokers Australia, where there is a learning center, as well as FAQ category and demo account, which is a free chance for gaining some good practice.
- Abundance of trading instruments and helping functions on the website will help you become a better trader quite fast. Most Australian Forex brokers do provide these things, so view them, as well.
- Powerful trading platform with decent instruments included in it. Do not forget that the trading software is the main key element in a broker platform, as well as for your trading experience on the website.
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!