Best ASIC-Regulated FOREX Brokers

Like many new FOREX traders, you may be wondering whether your money is safe when you start investing. Beyond the polished online-user interfaces and the smooth marketing messages, do you really know your FOREX broker? More to the point, can you ever really know the inner workings of these companies? 

The answer is no. We are here to tell you that this fact does not have to be as alarming as it could be. But, you have so many questions. If a broker is not listed, what does its balance sheet look like? What is being said behind closed doors? You will never know your FOREX broker any more than you can know the bank that keeps all your money.

That’s where regulators come in. It’s their job to take a good long look under the hood of registered financial companies. For this reason, knowing who the most strict regulators are can be to your benefit. In what follows, we will present all the relevant information about Australia's tier-one FOREX regulatory body, the Australian Securities and Investments Commission (ASIC).
This due diligence is an important prelude to any activity, as it ensures the safety of your investments while also safeguarding your funds from being abused. These two pledges are at the core of what FOREX watchdogs do. We will also give you a list of the Best ASIC-regulated brokers according to our research.

Why is Australia an Important Financial Capital?

To begin, it's worth noting that ASIC-regulated brokers are not limited to serving clients from Australia alone. You don't need to reside in Australia to benefit from ASIC's exceptional regulatory oversight.

Australia is a significant financial capital on the global stage. Several factors contribute to its prominence as a worldwide financial center and a hub for trading markets:

Economic Stability: Australia has enjoyed a reputation for economic resilience and stability, which fosters a trustworthy environment for depositors and investors alike.

Financial Privacy: Traditionally, Australian financial laws have emphasized privacy, drawing affluent individuals and corporations from around the globe. Despite recent adjustments toward greater transparency due to global standards, the commitment to protecting financial information remains robust.

Advanced Financial Infrastructure: Australian banks rank among the leading and most influential globally, with Sydney and Melbourne emerging as key centers for wealth management and private banking. Despite facing challenges, such as the Royal Commission inquiry into banking practices, Australia's financial sector continues to be a powerhouse.

Currency Resilience: The Australian Dollar (AUD) is often seen as a resilient currency, attracting investors during periods of global economic turbulence, thus underscoring Australia's financial significance.

Regulatory Framework: These aspects underscore why Australia offers a well-defined and stable regulatory environment. ASIC plays a pivotal role in ensuring a secure and transparent financial market, underpinning the country's status as a leading financial hub.

ASIC in Brief

Why is ASIC so well regarded? It is the Australian body responsible for the regulation of the financial sector in the country. This includes the oversight of banks, insurance companies, stock exchanges, FOREX brokers, and other financial intermediaries operating within Australia.

ASIC is an independent commission with its own legal structure, based in Sydney. It operates independently of the Australian government and the Treasury and reports directly to the Australian Parliament.

In the world of FOREX companies, in particular, ASIC fulfills two primary roles. The first is to ensure transparency in financial dealings. The second is to protect consumers by preventing scam brokers from defrauding their clients. For more insights into the dynamics of a FOREX scam, read our article here. Owing to its stellar reputation, numerous FOREX and binary options brokers from around the globe seek registration with ASIC.

What Protection Does ASIC Provide FOREX Traders?

For FOREX traders, ASIC provides multiple layers of protection:

Licensing and Regulation: In Australia, FOREX brokers are required to hold an Australian Financial Services Licence (AFSL) issued by ASIC. This significant regulatory hurdle ensures that only entities with sufficient capital and solid business models can operate, providing an immediate layer of security for traders.

Client Money Protection: ASIC mandates that brokers must segregate client funds from the company's operational funds. If a broker faces insolvency, your funds as a client are protected and cannot be used to settle the broker’s debts.

Risk Disclosure: Under ASIC's regulations, brokers are obligated to offer clear and thorough risk disclosures to their clients. This requirement aims to ensure that traders are fully aware of the potential risks involved in FOREX trading.

Market Conduct Rules: ASIC establishes standards for market conduct to curb fraud, manipulation, and other unethical practices. This regulation fosters a trading environment that is both transparent and fair for investors.

Dispute Resolution: Although ASIC does not directly intervene in disputes between brokers and their clients, it requires that brokers have in place effective procedures for addressing customer complaints. Later in this article, we’ll guide you on how you can file a complaint with ASIC should the need arise.

While ASIC's regulatory framework provides a robust layer of protection for FOREX traders, it's important to remember that FOREX trading inherently carries risks. It’s crucial to perform your due diligence before selecting a broker and to fully understand the trading risks involved.

Best ASIC-Regulated FOREX Brokers 2024

ICM capital Broker

ICM Capital is considered the industry leader in deposits and withdrawals, whereby each withdrawal does not take more than five business days. Moreover, the company offers its customers a handy credit card to withdraw their profits, in addition to enabling customers to use various deposit methods. The company, which is licensed by the UK's FCA, has several branches around the world. Among other things, it has a rich portfolio of assets, especially stocks, offers a low spread, as well as the ability to use MT4.

Broker Evaluation	8.11
Regulatory Bodies	FCA
Minimum Deposit	500$
Islamic Account	yes
Payment Methods	Bank transfer - credit card - Electronic Banks - Crypto
Main Branch	United Kingdom
Customer Service	24/5
Demo account	yes
Trading Platforms	MT4 - MT5 - C TRADER -Web Platform

Pros

• Segregated client funds.
• Regulated by the UK’s FCA.
• Established in 2009.
• More than 10,000 ICM Capital users and traders.
• Reasonable minimum deposit from $500.
• Decent funding options.
• No swaps.
• MetaTrader4 (MT4) desktop and mobile download.

Cons

• Does not allow scalping.
• Not ASIC-regulated.
• Relatively limited range of instruments.
• Slow live-chat service.
• Relatively high trading fees.
• Limited range of trading tools and resources

Open Account

Tradeview Broker

Tradeview Forex, interchangeably known as Tradeview Markets, was established in 2004 and is headquartered in the Cayman Islands, setting itself up as a significant player in the online FOREX and CFD trading world. Regulated by the Cayman Island Monetary Authority (CIMA) and the Malta Financial Services Authority (MFSA), Tradeview Forex is a reliable platform in a competitive market​​​​. The broker’s commitment to offering a broad and accessible trading environment shines through with its low deposit requirement and how it provides various advanced trading platforms to clientele.

Broker Evaluation	7
Regulatory Bodies	FCA
Minimum Deposit	$450
Islamic Account	Yes
Payment Methods	Bank transfer - credit card - Electronic Banks - Crypto
Main Branch	USA
Customer Service	24/5
Demo account	Yes
Trading Platforms	Proprietary Platform-MT4 - MT5 -Web Platform

Pros

• Established in 2004.
• Variety of trading platforms, such as MT4, MT5, cTrader, and Currenex, catering to different trading preferences and strategies.
• Low minimum deposits.
• beginners and experienced traders looking to refine their strategies.
• Supports automated trading through the use of Expert Advisors (EA) on MT4 and MT5 platforms.
• Decent leverage levels of 1:200 available in some jurisdictions.
• Regulated by CIMA, MFSA, and will soon be regulated by the UK’s Financial Conduct Authority (FCA).

Cons

• While regulated by CIMA and the MFSA, the broker is still in the final stages of becoming regulated by the tier-one FCA.
• Trades on the Innovative Liquidity Connector® account are subject to commission charges, which may add to trading costs.
• While offering high leverage up to 400:1 can be an advantage, it also introduces significant risks, especially for new traders.

Open Account

XTB Broker

What distinguishes XTB is the fact that it offers the best customer experience among all the companies we have surveyed. Indeed, it boasts the fastest response rate from all the companies under investigation. This is especially relevant, since the market is always on-the-go, and so you need to act fast. XTB offers lots of asset classes, as well as the ability to use the MT4 trading platform. Finally, it maintains a relatively low spread, which is suitable for quick deals.

Broker Evaluation	8.55
Regulatory Bodies	FCA
Minimum Deposit	500$
Islamic Account	yes
Payment Methods	Bank transfer - credit card - Electronic Banks
Main Branch	United Kingdom
Customer Service	24/5
Demo account	yes
Trading Platforms	MT4 - MT5 -Web Platform

Pros

• Long history of operation.
• Globally recognized, having won multiple awards.
• Some of the lowest FOREX spreads in the market.
• Regulated by the FCA (UK).
• Offers protection for client accounts.
• Emphasis on customer service.
• Excellent support, learning and research tools.

Cons

• Does not accept US clients.
• Non-FOREX spread costs are relatively high.
• No GSLO.
• No back-testing or automated trading capabilities.
• Conditions vary according to regulation and entity.

Open Account

ig markets Broker

IG is arguably the best broker when it comes to security and trust, boasting, as it does, licenses from 10 regulatory bodies, including the all-important FCA from the UK. The company is also a bank and is a publicly traded company in London. It is known for offering more than 10,000 asset classes of currencies, commodities, future contracts, ETFs, indices, cryptocurrencies etc. Further, it has its own state-of-the-art trading platform and offers a relatively low spread.

Broker Evaluation	7.54
Regulatory Bodies	FCA
Minimum Deposit	250$
Islamic Account	yes
Payment Methods	Bank transfer - credit card - Electronic Banks
Main Branch	United Kingdom
Customer Service	24/5
Demo account	Yes
Trading Platforms	Proprietary Platform -MT4 - Web Platform

Pros

• Easy-to-navigate platform that is simple for beginners to master.
• Margin rates are easy to understand and affordable.
• Mobile and tablet platforms offer full functionality of the desktop version.
• Accepts US clients.
• Access to more than 100 currency pairs
• Emphasis on education and research.
• Regulated by the FCA (UK), as well as the CFTC and the NFA (US).
• Offers protection for UK/EU client accounts.

Cons

• US traders can currently only trade FOREX.
• No GSLO for US-based traders.
• No account protection for US clients.
• Relatively high share-CFD fees.
• No copy trading or back-testing integration on IG platform.

Open Account

SAXO BANK Broker

Saxobank is considered one of the best investment banks in the area of financial markets and currencies, as it offers the very best trading platform and tools from all the companies we have reviewed. Meanwhile, its spread is very low and, as such, suitable for short-term deals; and it offers a large number of asset classes, including currencies, commodities, indices etc. Finally, its customer service is excellent and very responsive to traders' needs.

Broker Evaluation	6.09
Regulatory Bodies	FCA
Minimum Deposit	10000$
Islamic Account	No
Payment Methods	Bank transfer - credit card
Main Branch	Copenhagen, Denmark
Customer Service	24/5
Demo account	No
Trading Platforms	SaxoTrader

Pros

• Extensive range of offerings.
• Regulated by the FCA (UK) and other top regulators.
• Great trading platform.
• Among the industry’s best research.
• Superior user interface.
• Offers protection for client accounts.

Cons

• High bond, options and futures fees.
• Lack of emphasis on customer service.
• Confusing instrument fee structures.
• High minimum deposit.
• Does not accept US clients.
• No MT4.
• Lacks live chat.

Open Account

CMC MARKETS Broker

CMC Markets is thought of as one the best companies, offering some 9,000 asset classes that encompass currencies, commodities, indices, cryptocurrencies, bonds and stocks. The company offers a relatively low spread, the MT4 platform, and fast customer service. It is most suited for traders looking for diversity in asset classes.

Broker Evaluation	7.07
Regulatory Bodies	FCA
Minimum Deposit	0$
Islamic Account	No
Payment Methods	Bank transfer - credit card - Electronic Banks
Main Branch	United Kingdom
Customer Service	24/5
Demo account	not
Trading Platforms	Proprietary Platform -MT4 - Web Platform

Pros

• Extensive range of offerings.
• Regulated by the FCA (UK).
• Low FOREX fees.
• Emphasis on education and customer service.
• Great Web and mobile platforms.
• Offers protection for client accounts.
• Research amenities are industry leading.

Cons

• Does not accept US clients.
• Limited product portfolio.
• High stock CFD fees.
• High CFD spreads for certain indices.
• Differences between Next Generation and MT4.
• Complicated account verification.
• No back-testing or automated trading capabilities.

Open Account

think markets Broker

Originally founded in New Zealand in 2010, and moving to Australia within the space of their first two years, Think Markets is a global online brokerage focusing on FOREX and CFD trading. In addition to a range of major and minor currency pairs. Think Markets has an array of CFDs on offer. This includes indices, as well as hard and soft commodities.

Broker Evaluation	8.05
Regulatory Bodies	FCA
Minimum Deposit	0$
Islamic Account	yes
Payment Methods	Bank transfer - credit card - Electronic Banks - Crypto
Main Branch	Australia
Customer Service	24/5
Demo account	not
Trading Platforms	Proprietary Platform -Web platform-mt4- mt5

Pros

• Beginner assistance offered through 24/6 channels.
• Spreads are as low as 0.0 pips.
• 24/7 expert customer service.
• CFD shares and indices come at no extra fee.
• Zero broker fees for FOREX trading.
• Technical analysis and quality market information.
• Percentage allocation management module (PAMM) and Multi-account manager (MAM) accounts available.

Cons

• Direct share trading is on a separate platform.
• No binary options offered.
• Commissions charged for two account types.
• After a strong early start, ThinkTrader user ratings have slid to 3.4 stars.
• No US, Canada or Japan clients allowed.

Open Account

How to Verify that a Broker Is ASIC-Regulated

Each Australia-based FOREX broker you're considering should be licensed by ASIC. This information should be readily available on the FOREX companies’ websites, each with a unique AFSL number. If a company claims it is licensed by ASIC, you can straightforwardly verify this by visiting the ASIC website here: https://www.asic.gov.au. By entering the AFSL number or the company name, you can check the legitimacy of the company's licensing claims. If the search yields results, the company's claims are valid. Otherwise, if no results are found, the company is not licensed by ASIC and should be considered unreliable and avoided at all costs.

How Much Money Do You Need to Get Started?

You don’t need much to get started. Some of the best FOREX brokers for beginners allow you to start trading with as little as $50. Of course, you need to capitalize your account with at least some money that will allow you to place trades. The amount is really up to you. However, it is recommended that you start by placing small trades to get to grips with the practice of trading, as well as your broker’s website, before you move on to placing trades with more money.

How to Avoid Scams Through ASIC

ASIC takes several proactive steps to help traders and investors steer clear of scams and to uphold the integrity of the Australian financial marketplace:

Public Warnings: If ASIC becomes aware of entities operating without the required licenses, it issues public warnings. The regulator maintains a warning list on its website, alerting the public to brokers who may be conducting unauthorized activities.

Regular Supervision: ASIC continuously monitors licensed institutions to ensure they adhere to Australian financial regulations. This ongoing supervision reduces the likelihood of licensed entities engaging in scams or fraudulent activities.

Consumer Education: Though not a direct service, the existence of a robust regulatory body like ASIC indirectly educates and informs consumers about the standards they should expect from financial entities. Knowing that a financial institution is regulated by ASIC can provide consumers with a sense of security.

Investigations and Enforcement: ASIC is vigilant against any signs of scams or fraudulent activities within the financial sector. Should there be any suspicion, ASIC is empowered to initiate investigations. If a financial entity is found in breach of regulations, ASIC has the authority to enforce disciplinary actions, which can range from imposing penalties to revoking licenses. For example, ASIC has the capacity to issue bans against individuals or companies found to be non-compliant and can publicize such actions to serve as a deterrent.

While ASIC plays a critical role in protecting traders and investors from scams, it's equally important for individuals to do their homework. Being well-informed and vigilant significantly lowers the risk of falling prey to scams or fraudulent operations.

What to Look for Among the Best ASIC-Regulated Brokers?

Here’s how we suggest you go about choosing the best ASIC-regulated broker for your needs:

ASIC-Regulated: It sounds obvious, but check and double-check that every broker you consider holds the esteemed ASIC license.

All Traders Welcome: Make sure the broker you choose is Australian-based and accepts local traders and foreign traders, too.

Reputation Is Paramount: Be careful to only consider brokers with an ironclad reputation, meeting, if not exceeding, the industry's stringent safety benchmarks.

Competitive Fees: You should zero in on brokers boasting low floating spreads and competitive per-trade commissions. For more information on how spreads work, read our article here.

Sleek, Feature-Packed Platforms: Beyond usability, try to find a broker whose platform is packed with analytical tools to give you that cutting edge.

Diverse Account Offerings: Recognizing that one size doesn't fit all, consider brokers with a broad spectrum of account types—catering to newbies and elite traders with varied strategies.
Diverse Instruments for Every Trader: Every broker should ensure traders have access to a rich mix of instruments across multiple asset classes.

Commission and Fees

This area of consideration is crucial and requires your close attention. For a start, ASIC-regulated brokers must offer you a competitive fee package. Trading fees can sometimes be difficult to track. Be sure to check how these fees compare with industry standards:

Spreads: There are two main kinds of spread, one is fixed and the other is variable. Generally, the spread refers to the difference or gap between two prices, such as the bid/ask rate in a currency exchange rate. An example of a good spread is 1.4 pips for the EUR/USD (the narrower the better, this means that a spread of 1.4 pips is better than a spread of 2 pips). To find out more about pips, go here.

Commission: This is nothing more than the service charge that brokers require for carrying out transactions on behalf of their clients.

Rollover fees: When you leave a trade open overnight, the broker normally charges a rollover fee for the facility of holding your trade open for that period. This is because they assume the risk of the market changing adversely.

Withdrawal and Deposit Fees: Some platforms might charge fees for depositing or withdrawing funds. Pay attention to this. It's important to be aware of these and any associated limits or conditions.
Subscription or Inactivity Fees: Certain platforms have monthly charges or fees for inactive accounts. Ensure you're aware of these potential costs.

Using Leverage with ASIC-Regulated Brokers

This is linked to our point above about regulation. Different regulators have different guiding policies in leverage. Consider this, with brokers based in Europe operating under the rules of the European Securities and Markets Authority (ESMA), the leverage for Contracts for Difference (CFD) is heavily regulated. Because of this, you can only get leverage of:

• 30:1 for major currency pairs   

• 20:1 for non-major currency pairs, gold, and major equity indices   

• 10:1 for commodities other than gold and non-major equity indices   

• 5:1 for individual equities and any underlying not otherwise mentioned  

• 2:1 for cryptocurrencies

However, you should note that ASIC does not fall under ESMA rules. Australia is not a member of the European Union. Therefore, it is not directly subject to the regulations and directives of ESMA, including the Markets in Financial Instruments Directive II (MiFID II).

However, it's worth noting that Australia strives to maintain a financial regulatory framework that is in many ways comparable and competitive with international standards.

Regarding leverage, ASIC hasn’t set a specific maximum leverage limit for FOREX trading as is seen in some other jurisdictions, like those governed by ESMA in the European Union.

However, brokers operating in Australia under ASIC are expected to follow strict risk-management protocols, and they are required to ensure that their clients are trading within their means and understand the risks associated with leverage.

It's worth noting that leverage offerings can vary among Australian brokers, and it's always a good practice for traders to verify the current rules and offerings directly with the regulator.

This ties back to our previous discussion on regulation. Different regulatory bodies have distinct policies regarding leverage. For instance, in Europe, the ESMA strictly regulates leverage for CFD trading, as noted above. 

ASIC does not operate under ESMA's rules. Nonetheless, Australia aims to keep its financial regulatory framework aligned with global standards, ensuring a competitive edge on the international stage. Here are some key leverage limits according to ASIC:

• 30:1 for major currency pairs

• 20:1 for non-major currency pairs, gold, and major equity indices

• 5:1 for stock CFDs

• 2:1 for cryptocurrency CFDs

The leverage restrictions are aimed at protecting retail traders from taking on excessive risk and potentially incurring large losses. ASIC requires brokers operating in Australia to adhere to stringent risk-management practices. These brokers must ensure their clients are trading within their financial capabilities and fully comprehend the risks associated with leverage.

ASIC and Negative Balance Protection

ASIC mandates negative balance protection for retail CFD traders in Australia. The ASIC product intervention order that came into effect on March 29, 2021, includes a requirement for "negative balance protection," which means that retail traders cannot lose more than the total balance in their trading account, even in the event of extreme market volatility or "black swan" events.

This ensures that traders will not end up owing money to their broker if their losses exceed their account balance. The negative balance protection rule applies to all new positions opened by retail clients after the date it came into effect, as mentioned above. Existing positions opened prior to that date are also subject to the new 50% margin close-out rule.

Tradable Assets and Instruments

Some of the most common assets includeFOREX,commodities,crypto, bonds, and more. All the top ASIC-regulated brokers normally have these bases well covered. Some brokers choose to concentrate on FOREX, while others may be strong in other areas. It depends on your interests. When comparing brokers, a handy hint is to create a spreadsheet where you compare the numbers of the tradable assets you may want to trade.  Remember that the availability of tradable assets varies depending on the broker and trading platform being used.

Payments, Deposits, and Withdrawals

Ideally, the payment deposit-and-withdrawal process among ASIC-regulated brokers should be straightforward and convenient. As we have mentioned, Australia has a modern financial infrastructure, and its banking system is advanced, making transactions, including withdrawals from brokerage accounts, relatively straightforward for all traders. The best brokerages offer multiple withdrawal methods, including bank wire transfers, credit/debit card transactions, and even online payment systems. The efficiency of these methods can vary, with wire transfers to Australian banks typically taking several business days, whereas online payments tend to be much quicker.

The Importance of Customer Service

To get the best level of attention from your broker, you must pick an ASIC-regulated broker that can provide good customer support around the clock. This most notably includes the company representatives being easy to reach, fast, and polite, which will, in turn, spare you having to worry about problems later.

Ask Other Traders on Our Network

Here at Arincen, we’ve gone to extensive lengths to create an enabling environment of networks, where traders of all backgrounds can take part in a vibrant trading space. After all, Arincen’s goal is to simplify the world of trading. Our website provides an unrivaled selection of tools, like our market-leading signals, rolling news, and a thriving community where traders of all levels of experience can learn and profit from each other.

Trading Platforms, Tools, and Features

In the dynamic Australian trading environment, brokers are in constant competition to offer a variety of tools to improve your trading journey. Given the competitive nature of the market, innovation is the name of the game. 

Many brokers feature unique, proprietary trading platforms, while others rely on industry-proven platforms like MT4, MT5, and cTrader, which are favorites for their reliability and comprehensive features. For an insightful comparison of the MetaTrader platforms, read our article here. Australia's technological infrastructure is robust, providing the necessary support for brokers managing high-volume trading with the need for rapid network capabilities.

When you choose a broker regulated by ASIC, you're typically gaining access to cutting-edge platforms that offer extensive market access and boast exceptionally high rates of platform reliability. It's crucial to investigate these aspects thoroughly before deciding on the broker that best fits your trading needs.

Tips to Get Started Trading with an ASIC-Regulated Broker

Opening a FOREX trading account is easy. Once you have chosen your preferred ASIC-regulated broker, you must start by filling out an application form as part of the “open account” process. Typically, you will be asked to provide two documents. These are usually your national identity documents and proof of address. This is part of Know Your Customer (KYC) regulations. Remember that some brokers have slightly different requirements than others.

Once your account has been approved, normally one to two days after you make the application, you will be able to fund your account by making the first deposit. After your account is funded, you can start to trade.

How to Improve Your Knowledge of FOREX Trading

A trading website like en.Arincen.com is a great place to start. We have a large list of curated articles that can give you all the information you need on common FOREX trading terms, like pips, spreads, leverage, and support and resistance. We have also taken the time to prepare detailed articles on important topics, such as FOREX trading strategies. Additionally, once on our Website, you will find helpful video courses that cover the basics of FOREX trading. With this range of knowledge, you will be well on your way to trading success.

Remember also that your broker will normally have developed a detailed education and research repository itself. That is also a good place to bolster your FOREX knowledge, with the extra benefit that your broker’s information will be slanted toward its own platform and resources, which makes it doubly useful.

As such, it’s relatively easy to improve your knowledge of FOREX trading. All the following items should be part of an ASIC-regulated broker arsenal, and they should all help you improve your knowledge of FOREX trading.

Educational Content: For beginners, educational resources are crucial. Watch for platforms offering webinars, tutorials, articles, and even demo accounts to familiarize users with trading concepts.

Analytics Tools: The platform should offer robust analytical tools and many methods to evaluate trader performance. This includes historical returns, risk metrics, trading strategies, and more.

Community Engagement: A vibrant community can provide peer reviews, insights, and discussions, which can be invaluable for both novices and experienced traders.
Real-time Data: This is the lifeblood of social trading. Make sure your broker gives you access to live market data, news updates, and economic calendars that can help in making informed decisions

Filing a Complaint Against a FOREX Broker

In the rare cases where your FOREX broker has unlawfully tampered with your account, then you can file an official complaint with ASIC by visiting: https://asic.gov.au/. 

It is very unlikely that a ASIC-licensed company would dare meddle with your account for fear of the repercussions that may result. These include canceling the company’s ASIC license and/or closing it down altogether.  

Let’s Recap

Australia has an enviable reputation when it comes to the efficiency and reliability of its financial sector. For FOREX brokers, Australia has implemented rigorous regulations to ensure seamless operations across its financial landscape. 

This ensures that ASIC is widely recognized as one of the most authoritative financial regulators globally. This reputation benefits all retail traders who are active in this marketplace. It makes it a no-brainer that opting for a FOREX broker regulated by ASIC offers a significant layer of security and protection, whether you’re an Australian or an international client.

Arincen’s Review Methodology

The team at Arincen collected more than 120 pieces of data covering more than 100 licensed FOREX companies. Data collection was done in three ways:

1. Companies’ websites.

2. Other websites that have ranked FOREX companies.

3. A survey questionnaire (referred to here as Survey “1”) was sent to the companies invited to participate in the exercise. We have identified 13 criteria for our assessment, each containing several aspects and carrying its relative weight. These include licensing, deposits and withdrawals, number of assets, etc.     

Afterward, we validated the data by:

1. Registering with FOREX companies as a secret shopper and/or as Arincen.

2. Survey number “2,” in which we asked these companies’ customers for important feedback and experience.

The next step saw us evaluate and rank each company, relying on the hard work of 15 Arincen employees. We were cautious in ensuring the most accurate assessment possible, including taking into account different languages, as well as the various mobile-app operating systems, e.g., Apple, Samsung, etc.

To add credibility to our research project, we sent a third and final survey (referred to here as Survey “3”) to enable participating FOREX companies to evaluate our research and whether it accurately reflects the realities on the ground. We were fortunate enough to receive a mark of 9.9 out of 10! We have kept to a minimum the margin of error, which stood at a measly 1%. To learn more about how we came up with the evaluation, please click here.

Written by

Adrian Ashley

Adrian Ashley is a seasoned business and finance writer. With a corporate career spanning over 20years, he has developed deep experience in such diverse areas as investing, business, finance,technology and macroeconomics. He is passionate about captu...

Edited by

Richard Sine

Richard Sine is a long-time technical editor and writer. His credits include a weekly column in the...

Fact Checked by

Bahaa Khateeb

 Bahaa Khateeb is currently the CEO of Arincen, a start-up Fintech company based in Haifa. Baha...