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Australia as one of the financial Forex Trading hubs regulates and oversees activities along with operations through the independent authorizing body Australian Securities and Investments Commission (ASIC). The initial concept of a regulatory organization covers all aspects of Australian Stock Exchange operation, as well as strengthening the confidence of investments by supervision of the financial companies through sharp guidelines maintained by the ASIC.
ASIC Regulated Forex Brokers are known for the strict compliance of procedures along with high reliability since the regulation protects and provides strong funds security along with a guarantee from the Australian banks. Furthermore, the ASIC famous for its friendly consumer attitude, which offers a wide range of free online resources with information about financial markets and guidelines to consumers about investing, its pros, cons and much more of other support. Find best Australian Forex Brokers below.
ASIC is an independent Australian Government body. We are set up under and administer the Australian Securities and Investments Commission Act 2001 (ASIC Act), and we carry out most of our work under the Corporations Act. The Australian Securities and Investments Commission is an independent commission of the Australian Government tasked as the national corporate regulator. ASIC’s role is to regulate company and financial services and enforce laws to protect Australian consumers, investors and creditors. ASIC has implemented the global standards of Forex broker regulation.
The Role Under The ASIC Act is –
To conduct a financial services business in Australia, you must have an Australian Financial Services (AFS) license. Australian Financial Services Licence (AFSL) is a legal license provided by the Australian Securities and Investments Commission (ASIC) enabling the operation and activities of Australian financial services businesses. ASIC assesses applications for AFS licenses as part of our role as regulator of the financial services industry.
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