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Best ASIC Regulated Forex Brokers 2020

FX Empire Editorial Board
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At FX Empire, we stick to strict standards of a review process. Learn about our review process. FX Empire may receive compensation. Here’s how we make money.

Did you know one of the biggest factors affecting a trader’s decision to use a broker is where they are regulated? The Australian Securities & Investments Commission (ASIC) offers a high level of regulatory oversight including the requirement to keep client funds in segregated accounts in the biggest banks in Australia, among other trader friendly rules.

The brokers below represent the best ASIC Regulated Forex Brokers.

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BrokerRatingOfficial SiteRegulationsMin DepositMax LeverageTrading PlatformsFoundation YearPublicly TradedTrading Desk TypeCurrenciesCommoditiesIndicesStocksCryptoCommission on tradesFixed spreadsoffers promotionsOfficial Site
IC Markets
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Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

ASIC, CySEC, FSA

$200

1:500

cTrader, MT4, MT5

2007

ECN, No dealing desk

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Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

First Prudential Markets Pty Ltd
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Your capital is at risk

ASIC, CySEC

$100

1:500

IRESS, MT4, MT5, webtrader

2005

No dealing desk

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Your capital is at risk

USGFX
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Your capital is at risk

ASIC, FCA

$1

1:500

MT4, MT5, Zulutrade

2005

Market Maker, STP

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Your capital is at risk

GO Markets
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Your Capital is at Risk

ASIC

$200

1:500

MT4, MT5

2006

ECN, Market Maker, No dealing desk, STP

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Your Capital is at Risk

Vantage FX
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Your capital is at risk

ASIC, CIMA

$200

1:500

MT4, MT5, myFXbook, Zulutrade

2009

ECN, STP

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Your capital is at risk

Zero Markets
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Commission, interest, platform fees, dividends, variation margin and other fees and charges may apply to financial products or services available from ZERO Financial Pty Ltd. The information in this website has been prepared without taking into account your personal objectives, financial situation or needs. You should consider the information in light of your objectives, financial situation and needs before making any decision about whether to acquire or dispose of any financial product. Derivatives can be risky; losses can exceed your initial payment and you must be able to meet all margin calls as soon as they are made. When trading Contract for Difference (CFD) you do not own or have any rights to the CFDs underlying assets. ZERO recommends that you seek independent advice from an appropriately qualified person before deciding to invest in or dispose of a derivative. A Product Disclosure Statement for each of the financial products available from ZERO can be obtained either from this website or on request from our offices and should be considered before entering into transactions with us. *Highest overall client satisfaction winner – FP Markets team. Investment trends 2016 Australia CFD Report. The information in this site is current at the date of publication but may be subject to change.

ASIC

$200

1:500

MT5

2017

DMA

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Commission, interest, platform fees, dividends, variation margin and other fees and charges may apply to financial products or services available from ZERO Financial Pty Ltd. The information in this website has been prepared without taking into account your personal objectives, financial situation or needs. You should consider the information in light of your objectives, financial situation and needs before making any decision about whether to acquire or dispose of any financial product. Derivatives can be risky; losses can exceed your initial payment and you must be able to meet all margin calls as soon as they are made. When trading Contract for Difference (CFD) you do not own or have any rights to the CFDs underlying assets. ZERO recommends that you seek independent advice from an appropriately qualified person before deciding to invest in or dispose of a derivative. A Product Disclosure Statement for each of the financial products available from ZERO can be obtained either from this website or on request from our offices and should be considered before entering into transactions with us. *Highest overall client satisfaction winner – FP Markets team. Investment trends 2016 Australia CFD Report. The information in this site is current at the date of publication but may be subject to change.

Plus500
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80.5% of retail CFD accounts lose money

ASIC, CySEC, FCA, FSB, ISA, MAS

$100

1:30

Plus500

2008

No dealing desk

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80.5% of retail CFD accounts lose money

Pro Tip: Most of these brokers offer free demo accounts so you can test the brokers and their platforms with virtual money. Give it a try with some play money before using your own cash.


Note: Not all Forex brokers accept US clients. For your convenience we specified those that accept US Forex traders as clients.

IC Markets

Regulated By:ASIC, CySEC, FSA

Foundation Year:2007

Headquarters:International Capital Markets Pty Ltd Level 6 309 Kent Street Sydney NSW 2000, Australia

Min Deposit:$200

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Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

IC Markets was founded in Sydney, Australia in 2007 and is regulated by the Australian Securities and Investments Commission (ASIC), as well as the Seychelles Financial Services Authority (FSA). According to the broker’s website, they processed $646 billion worth of trading volume in April 2019 alone.

While the broker offers services and features designed for both beginner and professional traders, the company promote themselves as the ‘go to’ choice for high volume traders, scalpers and trading algos due to their New York Equinix NY4 data centre – processing over 500,000 trades per day.

Pros: Cons:
  • True ECN broker with institutional grade liquidity.
  • MetaTrader and cTrader available on desktop, web and mobile.
  • Wide range of tradable products with 24/7 customer support.
  • Impressive library of educational material and videos.
  • Beginner traders may be overwhelmed by the choice of markets and platforms.

FP Markets

Regulated By:ASIC, CySEC

Foundation Year:2005

Headquarters:Level 5, Exchange House 10 Bridge St Sydney NSW 2000, Australia

Min Deposit:$100

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Your capital is at risk

FP Markets was founded in 2005 and is regulated by the Australian Securities and Investments Commission (ASIC), offering segregation of client funds and top tier liquidity. FP Markets is a group of companies that includes First Prudential Markets Ltd which is authorised and regulated by the Cyprus Securities and Exchange Commission.

The broker offers the ability to trade on more than 10,000+ financial instruments covering Forex, Equities, Metals, Commodities, Indices and Cryptocurrency CFDs. Users have access to a range of accounts including the Standard Account (commission-free) and Raw Account (commission-based) for MetaTrader users, both offering ECN pricing and maximum leverage of 500:1. Users can also access Iress Accounts which are commission-based.

Pros: Cons:
  • ASIC regulated.
  • ECN pricing and DMA trading available.
  • 10,000+ tradable financial instruments.
  • Wide range of trading platforms and trading tools available.
  • Excellent customer support and education tools.
  • The volume of choice of markets and accounts may be overwhelming for beginner traders.

USGFX

Regulated By:ASIC, FCA

Foundation Year:2005

Headquarters:G03 135 Macquarie Street Sydney NSW Australia 2000

Min Deposit:$1

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Your capital is at risk

The broker offers to trade on 62 tradable assets across Forex, Metals, Energies and Indices. Clients can choose from four different account types called Mini Account, Standard Account, VIP Account and Pro-ECN Account. Clients can also trade on the globally recognised MetaTrader 4 and 5 trading platforms for Windows, Mac, Web, Android and iOS operating systems as well as through social trading platforms ZuluTrade and myFXbook.

Clients of USGFX can also benefit from free access to Trading Central’s technical analysis service and Featured Ideas, as well as access the USGFX TradersClub Program which offers education, market research and commentary, premium trading tools and personalised coaching from their Senior Analyst, Rob Clayton.

Pros:

Cons:

  • ASIC regulated with segregated client funds.
  • Can trade on MetaTrader 4 and 5.
  • Free access to Trading Central and Featured Ideas services.
  • Personalised coaching via the USGFX TradersClub education program.
  • Limited range of instruments.
  • No Stocks and soft Commodities
  • Advertised spreads are higher than most.
  • Knowledge of live chat support agent below par.

GO Markets

Regulated By:ASIC

Foundation Year:2006

Headquarters:Level 22, 600 Bourke Street, Melbourne, VIC 3000, Australia

Min Deposit:$200

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Your Capital is at Risk

GO Markets Pty Ltd an ASIC regulated broker has been in operation since 2006. The head office is located in Melbourne, Australia. With over a decade of experience, GO Markets has grown to become a leading broker with a huge client base from over 150 countries. GO Markets offers forex, share CFDs, indices, metals and commodities for trading on the MT4 and MT5 trading platforms.

Pros Cons
  • GO Markets is a regulated brokerage entity, which is a factor that ensures transparent trading conditions.
  • Ultra fast trade executions courtesy of innovative technology and powerful servers located in London.
  • Availability of trading and analysis tools like Autochartist and Trading central.
  • Clients’ fund segregation.
  • Demo accounts expire after 30 days, However, non-expiry demo account is available.
  • Clients from over 35 high risk and other monitored jurisdiction are not accepted, which is a lot.
  • Only two account types available for all traders.
  • Swap free offered in MENA region only.

*Pepperstone has a beginner educational content in its YouTube channel. In addition, a new educational content section is expected to be ready on Pepperstone’s website.

Vantage FX

Regulated By:ASIC, CIMA

Foundation Year:2009

Headquarters:29/31 Market St, Sydney

Min Deposit:$200

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Your capital is at risk

Vantage FX was founded in 2009 in Australia and is the brand name of the Vantage International Group which is regulated by the Cayman Islands Monetary Authority (CIMA) and advertises the segregation of client funds which are held with Australia’s AA rated National Australia Bank (NAB).

The broker offers services that are designed for both beginner and professional traders with access to Forex ECN trading, as well as CFD trading on Indices, Commodities and U.S and Hong Kong Shares on the MetaTrader 4 and MetaTrader 5 trading platforms for Mac, PC, iOS and Android as well as social trading platforms such as MyFXbook and Zulutrade.

Clients of Vantage FX have access to an impressive range of educational materials and research tools including MT4 SmartTrader Tools, a wide variety of promotional trading offers and rebate programs, as well as access to accounts with 500:1 leverage.

Pros: Cons:
  • Forex ECN Trading.
  • U.S and Hong Kong Share CFDs.
  • Segregated client funds with the National Australia Bank (NAB).
  • Unique bonus and promotional trading offers.
  • No regulation from Europe or UK regulators.
  • Limited Share CFDs on offer.

Zero Markets

Regulated By:ASIC

Foundation Year:2017

Headquarters:Exchange House, Level 5, 10 Bridge Street, Sydney NSW 2000

Min Deposit:$200

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Commission, interest, platform fees, dividends, variation margin and other fees and charges may apply to financial products or services available from ZERO Financial Pty Ltd. The information in this website has been prepared without taking into account your personal objectives, financial situation or needs. You should consider the information in light of your objectives, financial situation and needs before making any decision about whether to acquire or dispose of any financial product. Derivatives can be risky; losses can exceed your initial payment and you must be able to meet all margin calls as soon as they are made. When trading Contract for Difference (CFD) you do not own or have any rights to the CFDs underlying assets. ZERO recommends that you seek independent advice from an appropriately qualified person before deciding to invest in or dispose of a derivative. A Product Disclosure Statement for each of the financial products available from ZERO can be obtained either from this website or on request from our offices and should be considered before entering into transactions with us. *Highest overall client satisfaction winner – FP Markets team. Investment trends 2016 Australia CFD Report. The information in this site is current at the date of publication but may be subject to change.

Plus500

Regulated By:ASIC, CySEC, FCA, FSB, ISA, MAS

Foundation Year:2008

Headquarters:Building 25, MATAM, Haifa, Israel

Min Deposit:$100

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80.5% of retail CFD accounts lose money

Plus500 is a leading CFD trading platform with support for stocks, indices, cryptocurrencies, and Forex. This commission-free brokerage charges very low spread-rates and offers fast trades on a great platform. Plus500 supports complex trades, includes negative balance protection, and makes trading an educational and hopefully profitable venture.

You can start with a free demo account to test the platform and any trading strategy. Real money accounts offer leverage of up to 1:30. This broker is based in Israel and regulated by the Financial Conduct Authority (FCA) in the UK. 

Pros: Cons:
  • Support for 2000+ products to trade across global markets,including Forex, commodities, shares, indices
    and cryptocurrency CFDs
  • No commission and low spread costs
  • Advanced trades and fast execution
  • Licensed in several regulatory hubs, and publicly listed
  • Only CFDs, no direct Forex trades
  • High rates on margin/leverage accounts
  • Less research data than some competitors
  • No phone support offered

Introduction to ASIC Regulation

The Australian Securities & Investments Commission (ASIC) is a leading regulatory agency which supervises the securities and investment market in Australia. In other words, the organization takes on the roles of the markets regulator and the financial services regulator. It is a standalone governmental organization that was first introduced in 1998. However, in recent years the ASIC began implementing new and advanced regulatory guidelines to ensure all businesses trading in financial markets are adhering to the strict rules put in place by global regulatory standards. So, in 2009, the Australian Stock Exchange was put under ASIC regulation due to the organizations operation under the Corporations Act (2001).

By working under all this legislation, ASIC is able to ensure that the companies supervised under them, will abide by the laws put in place by the government to preserve integrity in the markets. That being said, the ASIC overlooks some of the best regulated Forex broker companies in Australia.

ASIC Responsibilities

The primary objective of the ASIC is to provide fair trading standards between the businesses it monitors and the investors they provide their services too. This agency strives to be the best protector and leading regulator in the Australian financial market. To do this, the ASIC must monitor Australian companies, financial markets, investment dealers and advisers, financial services agencies, insurance companies and credits.

That being said, the main goals and responsibilities the ASIC must achieve, are as follows:

  • Maintain, and hold to account the firms that make up the finance industry
  • Provide valuable information and security, to promote and grow activity in the market.
  • Administer the law effectively.
  • Implement the law in an effective way.
  • Articulate storage and management of information.
  • Provide quality information on companies which can be easily accessed by the public.

A broad sense of the areas of responsibility include:

  • Corporate governance
  • Financial services
  • Securities and derivatives
  • Insurance
  • Consumer protection
  • Financial literacy

Basically, the ASIC is responsible in providing experienced investors and consumers safe and secure financial markets to trade. They do this by implementing their rules and regulations on the brokers under their supervision, ensuring they have only reputable and safe companies attached to their organization. They seem to be achieving these responsibilities and goals, for they are considered one of the most highly reputable agencies in the market that deal with maintaining and protecting the investors’ interests.

How ASIC Regulation Can Protect You

Regulation is of the upmost importance in today’s financial trading market. The regulation offered by ASIC provides safety, reliability, and security when trading in the financial arena. Without regulation, there is no control over the ethics businesses might follow. The money you invest may not be secure or under your control. Profits made might be difficult to withdraw. Everything could be at risk. For these reasons, its important to invest in companies who are regulated.

The ASIC protects you- the investor, by offering you investor compensation on your deposit should the broker you are trading with become insolvent. So you can trade knowing that your deposit is protected. They make sure you receive what is promised from your brokers. But investors are not the only ones who benefit from regulation. The broker companies benefit as well by getting more clients based on the trust factor that the license brings to potential clients.

Another way the ASIC protects you is that they provide the public with online reports and work with the public in any investigation done by ASIC. This is a great form of communication, and shows they care about the individual investor. They will work with anyone to help hold the fraudsters of the Australian Financial realm to account.

They also provide a lot of free online resources geared towards informing investors about the financial and trading markets. They educate consumers about the ins and outs of investing in the financial market. This shows through their free and informative financial portal known as MONEYSMART. ASIC has a strong commitment to being a consumer-friendly organization, which helps protect consumers with the power of knowledge.

Another important piece of protection provided by ASIC is the assistance to investors who have money trapped in insolvent companies.

Lastly, the ASIC protects investors and consumers through their extensive rules, regulations, and guidelines to ensure companies follow best practices and deter them from any scams. They enforce this by monitoring all of their licensed member firms and are quick to act on any alleged deviations from their regulatory guidelines.

Guidelines for ASIC Regulated Brokers

ASIC has implemented the global standards of Forex broker regulation, and because of this, brokers must be capitalized to the tune of at least $1 million in operating funds. In addition to this, the brokerage firms must work with only tier 1 banks for segregating their clients’ funds from their own corporate accounts. This means that the broker may never access or use the funds for their own purposes.

In addition to this the ASIC requires all brokers to hold an AFC licence (Australian Financial Securities Licence). This license enables brokers to conduct trading legally in the region.

Furthermore, regulated brokers are required to follow the guidelines of the AFC. These include; sufficient capitalization, following ample risk management standards to protect them and their clients from unnecessary risks, to provide conflict resolution between the company and their clients and to put in place compensation arrangements.

Conclusion

As we have seen ASIC as a regulator is important in protecting its investors. As such Australian traders are spoiled for choice when it comes to the quality of their brokers. As a result of the wide choice, it can be hard to know who to trade with and that’s why FX Empire is here to help.

Read More:

Trade With A Regulated Broker

  • Your capital is at risk