Boost Your Trading with These Top ASIC-Regulated Forex Brokers in Australia

Did you know that Australia is one of the biggest online trading hubs in the world? If you look around at all the popular brokers known to traders, then you will realize that the majority have offices in Australia. 

There may be so many factors such as many Australians being good traders. This had always been a mystery that I was unable to solve until I conducted extensive research.

We are going to look at some of the reasons why many of the best brokers are based in Australia in this article. On top of that, we shall review the best forex brokers based in the country and regulated by the Australian Securities and Investment Commission(AISC).

ASIC is obviously one of the leading factors why brokers prefer to work in Australia. This is because the regulator provides strict operating conditions.

ASIC demands that the financial dealings of any broker must be transparent to the commission and the clients. The broker must also present audit reports from time to time so the commission can tell whether they are operating within the required codes of conduct.

Next, ASIC demands that for a broker to be licensed, they must possess at least 1 million Australian dollars as their operating capital. This might sound like too much money, but it is meant to ensure that in the event of high volatility or market crashes, the broker can seamlessly pay the traders. As such, when working with any ASIC-regulated broker, you may not need to worry about not being paid no matter how much you reap from the markets.

Lastly, ASIC is very clear and firm that for any company to offer online trading services, they must be regulated by ASIC (even if they are regulated by other commissions), and have a physical representation in the country. In this way, a trader can present themselves to the broker whenever they have the need. It also makes regulation much easier.

If you asked me why I would recommend ASIC-regulated forex brokers, I would  easily give you the following reasons:

1. ASIC requires that the brokers should keep the trader's money in segregated (separate) accounts. This move ensures the money is safe from unauthorized access.

   
   

2.  If you ever had an issue that required the attention of ASIC, then rest assured that the matter will be solved in a fair and satisfactory manner. I  know how painful it would be to raise a matter with a regulator only to be ignored or unjustly treated.

In this section, I have compiled a list of the best Australian-based brokers, fully regulated by ASIC. I have also provided a summary of each broker, revealing some of their key competitive aspects. There are still many best brokers outside the list, this list is merely for your reference, you should also do your homework.

1. Mitrade 

Mitrade is a fast-growing forex broker that offers access to over 400 financial instruments across various markets, including forex, indices,  commodities, and cryptocurrencies. You can trade using their user-friendly platform on your computer or phone.

Mitrade provides flexible leverage options for traders - up to 1:200 for customers. The broker also boasts competitive spreads starting from as low as 0.5 pips on major currency pairs, thus enabling traders to trade with low transaction costs. Additionally, Mitrade charges zero commission fees on trades, making it an affordable option for traders of all levels.

Their platform comes with a variety of helpful trading tools, such as technical analysis tools, risk management tools, and educational materials. They are also available 24/5 for customer support through live chat, email, or phone.

Overall, Mitrade is a reliable forex broker that provides an easy-to-use platform and good customer support. It's great for anyone looking to trade different financial instruments, whether you're new to trading or an experienced trader.

2. IC Markets

IC Markets is a popular Australian forex broker, that offers over 2,000 CFDs across multiple markets including forex, indices, commodities, stocks, bonds, crypto, and futures. It's a well-known choice for many traders out there!

The company allows traders to enjoy razor-thin spreads starting from 0.0    pips. Moreover, traders can leverage their positions up to 30:1 or even 500:1 for professional traders.

IC Markets' CFD trading services are available across multiple platforms including MT4, MT5, and cTrader. With its advanced trading technologies and a vast array of financial instruments, IC Markets is a go-to choice for both retail and institutional investors alike seeking exposure to different markets.

3. Pepperstone

Pepperstone is a top-rated forex broker in Australia that offers over 1,000 CFDs to trade across different markets, including forex, indices, commodities, cryptocurrencies, shares, and currency indices.

Traders can benefit from some of the best possible ECN and/or STP access with tight spreads starting as low as 0.0 pips. Moreover, Pepperstone has an active trader program designed to reduce trading costs significantly for traders who engage in frequent trading activities.

Pepperstone offers a generous leverage option of up to 30:1 for retail CFD traders based in Australia. Professional traders with Pepperstone can enjoy an even higher leverage of up to 500:1.

CFDs trading with Pepperstone is facilitated through popular platforms like MT4, MT5, and cTrader, providing traders with flexibility in choosing their preferred platform.

Overall, Pepperstone is a reliable forex broker renowned for its diverse range of products, low transaction costs, and favorable trading conditions. Traders looking to start their CFDs trading journey should consider using    Pepperstone due to its high-quality service and user-friendly platform.

4. FP Markets

FP Markets is a highly regarded forex broker that has been in the industry since 2005 and is regulated by the Australian ASIC and CYSEC.

The broker offers a vast selection of financial instruments to trade,  including forex, commodities, metals, cryptocurrencies, and over 10,000 stocks from various markets around the world.

FP Markets provides traders with the flexibility to leverage their trades up to 1:500, allowing them to take advantage of market opportunities and potentially maximize their profits. Additionally, the broker's spreads are defined by account type, with STP accounts having an average EUR/USD  floating spread of 0.7 pips, making it affordable for traders to execute trades without incurring high transaction costs.

Overall, FP Markets' reputation, diverse range of products, flexible trading conditions, and low transaction costs make it an attractive option for both novice and experienced traders seeking a reliable forex broker to cater to their needs.

5. Go markets

Go Markets is a reliable Australian forex broker since 2006. The broker provides traders with a diverse range of trading products, including forex,  commodities, indices, and metals. In addition to these products, Go Markets also offers binary options trading.

Traders using Go Markets can leverage their trades up to 1:500, allowing them to take advantage of market opportunities and potentially increase their profits. Even novice traders can start trading with a minimum deposit of only $99.

Go Markets is regulated by the FSC, which ensures that clients' funds are secure and protected. However, it's worth noting that the broker's spreads vary depending on the account type.

Go Markets offers two primary trading platforms, MT4 and MT5 software,  which come equipped with a variety of features and tools designed to enhance traders' trading experience. The broker also provides additional resources such as MT4 Genesis, Trading Central, and AutoChartist.

Although Go Markets is a reputable broker, it still has some limitations,  such as higher spreads and slow customer support. Overall, Go Markets is an excellent choice for traders looking for a reliable broker.

There you have it: check out Mitrade, one of Australia's fastest-rising forex and CFD brokers. 

✔️ 24-Hour global market trade, Go long or go short

✔️ Competitive Trading costs, 0 Commissions

✔️ Simplified trading process, Superior trading experience

✔️ ASIC regulation, Trade with Ease and Safe

Specifications for trading forex on the Mitrade platform

* The above figures do not represent real-time data.