ASIC (Australian Securities and Investments Commission) is a popular regulatory body among retail Forex brokers. It combines reasonable policies for traders' protection with the relative ease of getting registered for the brokerage companies.

How to choose ASIC regulated forex brokers

ASIC is the regulatory body of Australia and extremely relevant if you are an Australian forex trader and you are looking for the best Australian forex brokers.

Regulations are highly important for any financial market to protect traders from fraudulent activities either intentionally or without intention.

The ASIC regulation provides safety, security and reliability in trading. This will further make the financial environment healthy and followed with business ethics. Traders will be able to make a profit and withdraw funds safely.
ASIC regulations also provide compensation to traders if the ASIC brokers become insolvent. This means your money is highly protected if you are making your investments in Australia.
Apart from protections given to traders, the ASIC brokers also benefit. They get more clients for being licensed and more trusted due to strict regulatory norms.
ASIC offers several online resources for free to investors which contain valuable information about the financial environment in the country and trading markets.

Forex brokers are required to hold a valid AFSL license to be able to operate in Australia. Australia is turning out to be a huge market for retail Forex trading, and several brokers are flocking to the region to set up a mainstream brokerage under the ASIC regulation. Australia provides several incentives and a great business environment for new companies, which helps Forex brokers to experience excellent returns on their investment. It is relatively easier to find ASIC Forex brokers; however, the number may be significantly lower than other regulatory agencies such as the FCA and the . However, the ASIC does provide several attractive benefits that allow brokers to take full advantage of the ASIC regulations without the drawback of any trading restrictions. ASIC brokers are known to provide a high amount of leverage and total freedom of trading, which helps smaller retail traders as well as institutional investors to invest in the markets without worrying about the implications of a controlled trading environment.

Before starting to trade forex, think about how you intend to operate in the currency market.  Listed below are some of the key considerations to take into account before trading in a live account:

• Devise a trading strategy: Every successful trader needs to know what their strategy will be for making money trading forex. Whether you are a scalper, a day trader, a swing trader or a trend trader will determine the time frame in which you hold positions and how you manage them. 
• Choose currencies to trade: Some currency pairs have much tighter dealing spreads and so are more appropriate for certain strategies like scalping. Other currency pairs can show impressive long-term trends and may be more suitable for trend traders, so choose your currency pairs wisely and in a way that suits your chosen strategy. 
• Write down a realistic trade plan: For best success trading, you will want to plan out exactly how you intend to trade and write it down. You will then need to have the time, discipline and financial resources to be able to follow your plan accurately in a live trading environment. 
• Choose the best forex broker: The broker you choose to trade with can strongly impact your success as a trader, so choose one wisely after first assessing your needs in detail. 
• Open a demo account: Just about every online broker will provide you with free access to a demo account funded with virtual money so that you can try out their platform and practice trading. You can also use demo accounts to test your trading plan with to make sure you can operate it profitably. 

ASIC is a credible organization that is a part of the Australian Legislature. Therefore, firms regulated under the ASIC must upkeep the integrity of the financial markets by offering high-quality services to the general public. Every investor or individual has the right to challenge claims and provide tip-offs about financial fraud or abuse to the concerned departments, and the ASIC will ensure that severe legal action is taken against the perpetrators. ASIC also provides several online resources to consumers to ensure that the companies that they are dealing with are properly regulated and audited by the ASIC. ASIC has the distinction of being the only regulatory agency that offers free education to consumers regarding all matters related to the financial markets.