Forex trading has only been around for the last two decades and is a fairly new financial market when compared to the other financial markets like the stock market or futures market. Thus the regulations governing this market are relatively new and are few in between. This area of concern is compounded by the fact that the Forex market is also an Over the Counter (OTC) market that does not have central processing location.
However as Forex trading becoming more and more popular, some countries have already amended their regulations to enhance the protection of investors trading in the Forex market. Most countries increase the capital requirements for Forex trading firms and require them to obtain a license from regulatory bodies in order to protect their investors. Forex trading in Australia is regulated under the Australian Securities and Investment Commission. All bona fide Forex trading companies that deal with retail Forex trading services must be registered with this regulatory body which ensures that these companies fulfill the capital requirement. In addition, Forex trading companies doing business in Australia must obtain an Australian Financial Services Licence or be licenced with the RBA (Reserve Bank of Australia).
Forex traders who are in Australia and want to trade Forex are advised to deal only with Forex trading firms that are licensed by the RBA, registered with AISC, to protect their investment. Below are some of the reputable Forex trading companies that provide online Forex trading facilities which are registered with AISC.
Sonray Capital Markets, a Melbourne-based company with offices on the Gold Coast and in Sydney, was founded in 2003. It is one of Australia's leading Forex trading facilitators. The company utilises the services of registered third party providers that are properly licenced to deal with the execution of trades. Halifax is also registered with AISC. This company main base of operation is in Sydney. The HALIFAXONLINE integrated trading platform provided by this company not only permits a trader to deal with Forex but also CFD, Equities and futures as well.
ForexCT.com was founded by a group consisting of bankers and Forex experts. It us forex brokers mt5 is one of few Australian Forex companies that allow traders to trade Forex with as little as $100. The company office is located in Melbourne and is regulated by AISC. Its trading platform is web based and does not require any downloading of softwares or firewall configurations. Also located in Melbourne is Go Markets Pty Ltd. The company with the AFSL licence #254963 is registered to deal with not only with Forex but also with CFDs and Equities. They have numerous partnerships with overseas financial institutions and are well connected to act on their client's behalf all over the world. They only require a $1 deposit to open an account and offer a 300:1 margin trading ratio.