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Are Australia-regulated brokers reliable?

  • Post #1
  • Quote
  • First Post: Nov 6, 2014 11:58am Nov 6, 2014 11:58am
I know that regulation of brokers is not enough for being a reliable broker, but this is the first requirement/factor for judging a broker.

Normally, brokers regulated in UK or US are good owing to the strict monetary policy of these two countries.

I expect that there is such a strict policy in Australia too, and Australian-regulated brokers are reliable. But I see that most of Russian-based brokers are now regulated in Australia or New Zealand, and many new Australian-based brokers have come to the market.

Are ASIC-regulated brokers reliable or regulation in Australia and New Zealand is easy, and thus many brokers can get this regulation?
strict monetary policy

Quoting etrade
I know that regulation of brokers is not enough for being a reliable broker, but this is the first requirement/factor for judging a broker. Normally, brokers regulated in UK or US are good owing to the strict monetary policy of these two countries. I expect that there is such a strict policy in Australia too, and Australian-regulated brokers are reliable. But I see that most of Russian-based brokers are now regulated in Australia or New Zealand, and many new Australian-based brokers have come to the market. Are ASIC-regulated brokers reliable or...
My opinion abot Australian that they are pretty reliable. But not New Zealand, as I know it is a bit different story
Quoting mlechnijput
{quote} My opinion abot Australian that they are pretty reliable. But not New Zealand, as I know it is a bit different story
ASIC has recently applied the blow torch to those brokers who haven't met their obligations which is great because some were starting to tarnish the industry.

NZ is doing the same thing and have hired an ASIC head to show them the way.

Its all changing for the better downunder.
Quoting lasty
{quote} ASIC has recently applied the blow torch to those brokers who haven't met their obligations which is great because some were starting to tarnish the industry. NZ is doing the same thing and have hired an ASIC head to show them the way. Its all changing for the better downunder.
Didnt know. Thanks, it is interesting
I haven't thought about Aussie Fx Brokers for a long long time, but perhaps I should.

Anybody here care to throw a recommendation into the hat ... preferably a Broker you know.

I am not a US Citizen and I don't live in Australia and I have no excessive demands beyond any other professional Trader.

Would appreciate your comments
I have been on the demo for awhile and planning to sign up with Forex CT.
Comfortable with most of their major pairs and convenient transfers.
Have not seen anything bad written about them besides the professional blackmailers on peacearmy.
Still a rookie so I would appreciate any other recommendations.

Cheers!
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Axitrader experiencing a full server outage right now....

" Our technical team is trying to resolve this at the moment but we are unsure at this stage how long it will take to be resolved."
  • Post #9
  • Quote
  • Last Post: Dec 18, 2014 9:00am Dec 18, 2014 9:00am
I am trading with FXCM Aussie (IBFX, before acquisition).
So far, didn't face any problem.

In my point of view, ASIC is a reliable regulator.
Happy Trading
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