More on the subject of strict regulation of the government, what exactly is the ASIC? It is the Australian Securities & Investments Commission.
Every legitimate broker operating from Australia has to obtain a license from it before joining the industry.
The most reputed and trusted brokers in Australia have all managed to obtain one. A broker needs to meet a very high standard of capability and financial integrity to obtain one.
As a result, all traders need to check whether or not a potential broker has received a license from the ASIC.
Here is list of the only brokers who have managed to obtain a license from the ASIC and some basic information about them:
HighLow
Situated in Sydney, Australia, HighLow was started straight away under ASIC regulations and has been around since 2013. It has since been able to provide more profit potential for traders than any other broker making it the most reputed one in Australia.
HighLow’s trading platform is easily accessible for both beginners and experienced investors and can be used on Android and IOS smartphones.
ASIC Regulated CFD Brokers
Highlow is the only ASIC regulated binary options broker in Australia. If you are looking to trade shares, crypto, indices and currencies, then take a look at the brokers below.
HFTrading
HFtrading is the best new broker, if you are looking for CFD trading: Shares, Crypto, Indices etc. Unfortunately HFTrading does not offer binary options trading.
Vantage FX
Vantage FX is owned by Vantage Global Prime and has headquarters in Sydney. It features an easy to use Tech Financial Software which offers many options on assets and can be accessed in either English, Japanese or Chinese. Returns on options can be as high as 85%. The trading options on offer are High/Low Options, Boundary & Short Term Options and One Touch Options.
Vantage FX has an official licence from the ASIC and is one of the most trusted and popular brokers based in Australia.
IG Markets
Part of the IG Group, IG markets is an international broker that has been operating since 1976. It is now a multi-billion dollar enterprise with subsidiaries all over the world, including Australia and New Zealand. Their office is located in Victoria, Melbourne. IG also complies with the demanding regulations of the ASIC.
IG uses a cloud based trading platform that can be accessed online and does not require downloading. However, for increased usability, it can still be accessed through an app on your smartphone. It also uses a staggering number of tools for trading, numbering over 10,000 different instruments. It only offers a simple single trading account for all its investors.
Core Liquidity
Headquartered in Sydney, Australia, Core Liquidity was started in 2013 and has broadened exponentially since then. The broker operates in Australia as well as in the international markets. Being regulated by the ASIC, it is regarded as a safe place for traders to trade with large sums for an excellent pay out of 85%, one of the highest by offered by any broker.
Not many brokers in Australia offer much in the way of variety with trading platforms. Core Liqudity offers several with platforms like SignalTrader, MYFX, FXLite Web Trader, MT4 and MT4 Mobile. Although the broker does offer a demo account, it is only valid for for 30 days.
GO Markets
GO Markets was founded in 2006 and is now one of the most recognized and reputed brokers for binary options and Forex in Australia. Unlike most other competing brokers, GO Markets does not rely on attractive payouts to increase its clientele. Instead it has employed a more old school method of building a good reputation and delivering handsomely to the clients that have signed on. Its reputation is further enhanced by the fact that it is licenced by the ASIC.
ASIC Licensed Brokers
Choosing a capable and efficient broker is an integral part of success in binary options trading. This is why it is vital to choose a broker that is licensed and regulated by the ASIC. This considerably reduces the potential for being swindled by scams or nefarious brokers.
The ASIC license is only for Australian brokers. Alternatives to this are CYSEC brokers in Europe and CFTC brokers in the US.
Moreover, you can expect the brokers to have fair practices, adequate payout rates, and reputable withdrawal options. This greatly improves the traders’ chances of making a good profit when a trade does end up in the money. When deciding on a binary options broker, it is best to first consider those that have an ASIC license.