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Australian Securities and Investments Commission-ASIC

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ASIC-Australian Securities&Investments Commission

ASIC or the Australian Securities and Investments Commission is a corporate body in Australia which has the function of regulating the financial markets and financial services in that country. Today is one of the leading authorities in regard to the regulation of OTC markets (Over The Counter) including Forex and its functions include the regulation and control of all companies offering financial services – such as Forex brokers and binary options brokers – which are registered and operating from Australia. As a regulator, ASIC seeks to ensure that all financial services companies which are duly registered and have a license operate efficiently, honestly and fairly for the benefit of their customers.

In addition to brokers (Forex, stocks, derivatives and in general all brokers offering services related to financial markets), companies that fall within the scope of ASIC are managed funds, insurance companies, companies that provide financial advice, companies that manage pension funds and firms that engage in deposit taking and credit ( this category include banks, credit unions, finance companies and mortgage and finance brokers).

ASIC contributes to  wellbeing and Australia’s economic reputation because it ensures that the country’s financial markets are fair and transparent thanks to its legal powers, which allow this entity to protect consumers against misleading or deceptive conduct which may affect all products and financial services, including credit. Thus, investors and the general public can invest with confidence in companies and services in this sector. ASIC is an independent  independent Commonwealth Government body which was established under the Securities and Investment Commission in Australia Act (ASIC Act) of 2001. In this case, ASIC acts as a body that operates under the Corporations Act of that country.

The responsibilities defined by the Investment and Securities Commission of Australia Act of 2001 for ASIC include:

  • Maintain, facilitate and improve the performance of the Australian financial system and the entities belonging to this.
  • Promote confidence and informed participation of investors and consumers in the financial system.
  • Administer the law efficiently and with minimum procedural requirements.
  • Enforce and give effect to the law.
  • Receive, process and store efficiently and quickly the information provided by companies in the financial sector.
  • Make information about companies and other entities available to the public as soon as possible.

Thus, ASIC will ensure that all brokers and other companies offering financial services meet the highest standards, including its responsibilities with the consumers so as to obey the laws of consumer protection which in this country are quite strict. In general, the agency maintains, enhances and facilitates the proper functioning of the financial system and all its component entities, oversees that the law is implemented efficiently and ultimately receives and processes all information of companies and other financial entities so that is easily accessible to the interested public.

This assures the investors and consumers in general a secure and equitable information management  and also a law that protects their investment in financial markets as the Forex or other similar through a broker that is registered and operates from Australia. For this reason, any investor who trades in the market through a broker regulated by the ASIC can be assured that this company operates under strict standards, particularly in regard to their practices  and operations and the  funds management of its customers.

List brokers regulated by ASIC

The following is a list of brokers that are currently regulated by ASIC:

Broker Trading instruments Minimumdeposit Complete review
Pepperstone

Forex broker FxPro

-Forex market

-Precious metals

$200 Pepperstone review
 

EasyMarkets

-Forex market

-Precious metals

-Commodities

$25

EasyMarkets review

ICMarkets

Forex broker ICMarkets

-Forex market

-Precious metals

-CFD

$200 ICMarkets review
XM
-Forex market

-Precious metals

-Commodities

-CFD

$5

XM review

ThinkForex

Forex broker ThinkForex

-Forex market

-Precious metals

-CFD

$250 ThinkForex Review
Hy Markets

-Forex market

-Precious metals

-Commodities

-CFD

$50 HY Markets review
XForex

-Forex market

-Precious metals

$100 XForex review
Axitrader

Forex broker Axitrader

-Forex market

-Precious metals

-Commodities

-CFD

$200 Axitrader rewiew
AvaTrade

-Forex market

-Precious metals

-CFD

$100 AvaTrade Review
FXOpen Aus

-Forex market

-Precious metals

$5 FXOpen-review
HighLow

broker HighLow
-Binary options $50 HighLow review

 

 

 


 

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