In this article, we will understand all about the ASIC regulated Forex brokers and how to identify these brokers.
Forex brokers are very important in foreign exchange as they help investors make trades easily and not just make trades but make successful trades that benefit investors by making maximum profits from any trades.
There are many brokers in the foreign exchange market. Investors need to do the necessary research before choosing any of these forex brokers since most are not legitimate brokers.
To know legit forex brokers, it is important to understand that the regulated bodies under which all these brokers fall also determine their legitimacy in the forex market.
Australia is one of the leading countries in foreign exchange in the world today, given the number of traders and foreign exchange enthusiasts from the country alone and what they contribute to the foreign exchange space worldwide.
Also, the freedom and laxity of the company’s rules on forex trading have made it possible for any interested individual who wishes to venture into this form of trading.
This allows the forex enthusiasts in the country to maximize money-making opportunities in this niche and be fully involved with this.
Is Forex Regulated In Australia?
It is important to understand that Australia has some set down rules for any broker firm to accept forex and trading on its platform.
This way, most activities of these broker firms and trading platforms are regulated and monitored to help avoid users and investors’ scams and loss of funds on any of these platforms.
The Australian Security and Investment Commission handles the regulation of these broker firms and keeps them in check as they handle investors’ money and funds in the financial market.
Since foreign exchange is regulated in Australia, t is a safe zone for any interested investor or forex trader to put their funds since they are sure their funds are protected by the rules and regulations of the Australian Security and Investment Commission.
How to Find Out If ASIC regulates a Broker
There are many broker firms in the financial market which are not regulated by anybody or organization.
Any interested investor should understand all about the brokers they choose for their investment, as this will allow them to make the best decision on which brokers are the best in the industry.
In Australia, there are some basic features of a broker which show that a broker is regulated by the Australian Security and Investment Commission, which has already been saying is the organization in charge of regulating broker firms in Australia.
Some of these features include an ASIC phone number placed for investors to use for any complaints. Also, investors can use the Australian Security and Investment Commission Connects Professional register to check the legitimacy of any broker they have chosen.
People Also Read:
Top 10 ASIC Regulated Forex Brokers in Australia
Here are the top ten ASIC regulated Forex brokers in Australia:
- CMC Markets
- IC Markets
- Saxo Bank
- FP Markets
- FP Markets
Choosing the right regulated broker firm for investment is an essential step towards maximizing profit for any investor in the forex market.
It is important to know the regulated forex brokers before deciding to use them to avoid using illegitimate forex brokers and losing funds to these scam broker firms.
What are your thoughts on the ASIC regulated forex brokers in Australia? Share your views and opinion using the comment section.