Regulated Australian Forex brokers

I have gone through many scams reviews caused by traders ignorance to reliable and regulated Australian Forex brokers . Personally my fi...

I have gone through many scams reviews caused by traders ignorance to reliable and regulated Australian Forex brokers. Personally my first Australian Forex broker was not regulated at all and infect I never came to know about importance of regulated Forex brokers until the time, I got punch of scam from it. Before you can begin currency trading in Australia, you will need to sign up with a Forex broker first and download their trading platform. Now, aside from meeting all your trading requirements, you should also make sure that your Australian Forex broker is regulated. A regulated Forex broker is a member of a legitimate financial authority. By being so, their corporate practices are carefully examined and monitored. This is to ensure that they follow the strict rules and procedures imposed by the regulators. The requirements vary from one regulator to another. Some are stricter than others but at the most, these generally include obligations like keeping appropriate financial assets along with adhering to the right operating standards and procedures set out by the regulator. So what are those regulatory authorities? Let’s list some of them here:

• Commodity Futures Trading Commission (CFTC)
• Australian Securities and Investments Commission (ASIC)
• National Futures Association (NFA)
• Canadian Investor Protection Fund (CIPF)
• Swiss federal Department of Finance (FDF)
• Escalade Incorporated (ESCA)
• Cyprus Securities and Exchange Commission (CySEC)
• German Federal Labour Market Authority (BaFin)
• International Financial Services Centre (IFSC)
• The Financial Futures Association of Japan

Finding out whether a Forex broker is regulated is pretty much straightforward. First, you need to determine the country in which the broker you are considering is situated. This information can usually be found in the broker’s website. After finding that out, check with the regulator in that country whether the broker is actually registered with them. Using this information, you can also get some insight into the past performance of the Forex broker you’re looking at. Now, it’s important that you don’t mistake “licensed” as the same with being registered with a regulatory body. A licensing body may have some administrative functions but it doesn’t provide security as much as a regulator. It has little power to arbitrate any trader-broker dispute that you may encounter over the course of your Forex trading venture.

Why You Should Choose a Regulated Forex Broker? 

Regulated Forex brokers in Australia will ensures credibility because it’s required to provide fiscal reports to regulatory bodies. By doing business with this type of broker, you eliminate the likelihood of getting ripped off or encountering any other underhanded transactions.
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