HomeForex Regulation & Regulatory BodiesBest ASIC Regulated Forex Brokers 2021

Best ASIC Regulated Forex Brokers 2021

One of the most critical aspects when choosing a Forex broker is to check its license to operate. In other words, if it has the right to operate in the jurisdiction. Or, if it is legally regulated.

Who cares, you might ask? As a trader, you should care. Would you be comfortable knowing that some driving schools give out driving licenses to people in your city without those people actually earning them? Of course not. The same with trading – regulated brokers, offer a guarantee that the financial regulator oversees its activity and protects traders’ interests.

The list of ASIC Regulated Forex Brokers:

1
Min. Deposit
$250
Exclusive promotion
Our score
10
Leverage
400:1
New accounts
Spreads
0.25
PIPs
Regulations
CFTC
Forex Pairs
11+
No Fee
Start trading
Pros:
Regulated by CFTC
Low fees and minimums
A good selection of educational content, including videos and webinars
Payment methods
ACH, Debit Card, Wire Transfer
Full regulations list:
CFTC
Trading on Nadex involves financial risk and may not be appropriate for all investors.
2
Min. Deposit
$10
Exclusive promotion
Our score
9.3
Leverage
500:1
New accounts
Spreads
0.8
PIPs
Regulations
Forex Pairs
55+
No Fee
Start trading
Pros:
55+ currency pairs available
Trade on a trusted platform
24/7 support via live chats, email or phone call
Payment methods
Credit Card, Debit Card, Visa, Bitcoin
Full regulations list:
LonghornFX offers high-leverage trading on a wide variety of assets. Trading with leverage carries a degree of risk which may result in losing more than your investments. Clients should practise risk management to protect themselves from losing more than they can afford when trading with leverage.
3
Min. Deposit
$200
Exclusive promotion
Our score
8.7
Leverage
500:1
New accounts
Spreads
0.5
PIPs
Regulations
FSPR, FMA New Zealand
Forex Pairs
27+
No Fee
Start trading
Pros:
BlackBull Markets’ unique feature lies in its stated goal of delivering an “institutional” trading experience to retail clients
No-Dealing Desk Broker (NDD), with Straight Through Processing (STP) all done on a true ECN
State of the art Equinix servers, based in New York (NY4), London (LD5) and Tokyo (TY3)
Payment methods
Mastercard, Visa, Bank Transfer, Neteller, Skrill, UnionPay, FasaPay
Full regulations list:
FSPR, FMA New Zealand
4
Min. Deposit
$10
Exclusive promotion
Our score
8.5
Leverage
500:1
New accounts
Spreads
0.7
PIPs
Regulations
Forex Pairs
55+
No Fee
Start trading
Pros:
0% Commission Account
Low Spreads
Eco-Account Option
Payment methods
Bitcoin, Credit Card, Debit Card
Full regulations list:
Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary seek independent advice.
5
Min. Deposit
$100
Exclusive promotion
Our score
7.9
Leverage
30:1
New accounts
Spreads
0.7
PIPs
Regulations
NFA, CFTC, FCA
Forex Pairs
No Fee
Start trading
Pros:
Open an account in less than 5 minitues with the global Market leader since 2001
Trade on one of the world's most popular trading platforms with access to dedicated support and integrated trading tools exclusive to FOREX.com
We’ve spent over a decade investing in technology and building a deep network of liquidity partners, so we can consistently quote tight spreads in most market conditions.
Payment methods
Debit Card, Bank Wire, ACH, Credit Card, PayPal
Full regulations list:
NFA, CFTC, FCA, FSA, IIROC, CIMA, FFA Japan, MAS, SFC of Hong Kong
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
6
Min. Deposit
$10
Exclusive promotion
Our score
7.8
Leverage
500:1
New accounts
Spreads
0.7
PIPs
Regulations
Forex Pairs
55+
No Fee
Start trading
Pros:
Can fund with BTC
64 global companies including Netflix and Amazon
Free deposits and withdrawals
Payment methods
Credit Card, Debit Card, Bitcoin, Wire Transfer
Full regulations list:
EagleFX offers leveraged trading on a range of assets within its platform. CFD and Spot Forex trading do carry a degree of risk which may result in you losing more than your initial investment. Please ensure you fully understand the risks involved with leveraged trading and ensure this is not detrimental to your personal or institution's financial well being.
7
Min. Deposit
$250
Exclusive promotion
Our score
7.5
Leverage
30:1
New accounts
Spreads
0.7
PIPs
Regulations
CySEC
Forex Pairs
45+
No Fee
Start trading
Pros:
No commission charged to clients
Over 250 instruments available
Regular Webinars, education and video tutorials
Payment methods
Bank Wire, Credit Card, Skrill, Neteller
Full regulations list:
CySEC
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Who is the ASIC?

The Australian Security and Investment Commission (ASIC) oversees financial activities in Australia to protect consumers, investors, and creditors. It has various roles and responsibilities in areas like corporate governance, financial services, consumer protection, or financial literacy.

It offers a high level of regulatory oversight and enforces brokers to adopt fair, consumer-oriented practices.

What is an ASIC Regulated Broker?

For a broker to operate in Australia, it must hold an ASIC license. It means it is regulated, and typically the license or registration number is publicly advertised on the broker’s website.

It’s in the broker’s interest to make regulation public to be considered reputable. To earn and keep a license to operate in Australia, one of the most important Forex trading hubs in the world, is no easy feat.

A regulated broker complies with rules set by ASIC, like maintaining a safe trading environment or proving financial sustainability. Moreover, it must maintain high operational standards and present constant audits.

How a Broker Becomes ASIC Regulated?

Proof of financial sustainability (minimum 1 million AUD) is one thing. Regular audits are another. Segregated accounts come to complete the most essential points.

An ASIC regulated broker must follow strict compliance, though the registration process is easy to understand and implement, the broker must meet all the points which vary.

ASIC is famous for its wide range of free online resources and transparency when it comes to the conditions to meet for becoming regulated.

How ASIC Regulation Protects You?

  • Funds safety – clients’ funds are kept in segregated accounts usually at a custodial bank that works with the broker
  • Local representative – ASIC regulated brokers must have an official representative in Australia and can’t operate from overseas
  • Audited books – regular audits ensure business viability, thus protecting its clients
  • Financial dealings transparency – open and honest financial marketplace, fair to all parties involved

Conclusion

ASIC regulated brokers operate in a safe environment under the regulator’s umbrella. Traders may feel safe that their interests are well represented, and the regulator oversees the financial health of each broker.

Funds deposited with ASIC regulated brokers are safe and guaranteed. Moreover, ASIC is one of the few regulators that allow high-leverage trading, unlike other regulators from different jurisdictions. It is no wonder traders favour ASIC brokers to enjoy both a safe trading environment and high-leverage availability. This may soon change however like the look to mirror global counterparts.

Regulating the Forex market ensures fair and ethical business between parties and we would always recommend that you choose a broker that is regulated by the overseeing body in your jurisdiction. It makes trading less one-sided and forces risk management to be put at the forefront of clients minds to help protect them.


FAQ’s

Do ASIC brokers impose the FIFO rule?

No. FIFO (First In First Out) rule means traders must close the open positions on the same currency pair in the order of their opening. ASIC doesn’t impose such a condition. Also, hedging is allowed under ASIC regulations.

Is my money safe with an ASIC regulated broker?

Yes. ASIC brokers must keep clients’ funds separately, in an Australian custodial bank, without using them for operating activities.

Is it true ASIC brokers offer 1:300 and 1:400 leverage?

Yes. ASIC allows high-leverage trading when compared with the US or European regulations. However, with high leverage, traders should emphasize strict money management rules to avoid unnecessary losses. There may however look to lower leverage to keep in tune with global standards.

Should I prefer an ASIC regulated broker in Australia?

Why not? Being regulated by a regulator like ASIC suggests credibility and safety for the retail trader. The broker must obey strict rules to earn and keep its license, and that represents a guarantee for the trader that the broker is legitimate.


For more regulated brokers by highly respected authorities see below: