The forex market has been around only for the past two decades. It is relatively new compared to other financial markets such as the stock exchange or futures market. The regulations that govern this market are also relatively new. The fact that the Forex Market is an Over the Counter market (OTC), which does not have a central processing location, adds to the concern.
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. To protect investors, most countries resort to raising the Forex trading companies' capital requirements as well as having them obtain a licence from the regulatory bodies. In Australia, Forex trading is regulated by the Australian Securities and Investment Commission (ASIC). This regulatory body ensures that all legitimate Forex trading firms that provide retail Forex trading services are registered. Forex trading companies operating in Australia are required to obtain an Australian Financial Services Licence (AFSL) or be licensed with the RBA.
Thus, Forex traders in Australia who want to trade Forex should deal with those Forex trading companies that are registered with AISC and licenced by the RBA to ensure that their investments are properly protected by law. Here are a few of the most reputable Forex companies who offer online Forex trading and are registered with AISC.
Sonray Capital Markets, a Melbourne-based company with offices on the Gold Coast and https://www.fxcm-markets.com/insights/crypto-trading-everything-you-need-to-know-about-cryptocurrencies-in-malaysia/ 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. Sydney is the main operating base for this company. This company's HALIFAXONLINE trading platform allows traders to trade not only Forex, but also CFDs, Equities and Futures.
ForexCT.com was founded by a group consisting of bankers and Forex experts. It is one of few Australian Forex companies that allow traders to trade Forex with as little as $100. The office of the company is in Melbourne, and it is regulated by AISC. The trading platform is web-based and doesn't require software or firewall configurations to be downloaded. 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. Only a deposit of $1 is required to open an account with them and they offer up 300 to 1 margin trading ratio to their clients.