Australia has become one of the leading global centers of the currency industry because of its specific trading and investing culture. Moreover, it is well known as a safe and reliable jurisdiction for Australian based investment companies to provide trading services to customers across the globe. Currency trading is so much in demand in Australia that daily turnover of some of the best forex brokers in Australia can surpass the entire cash equities volume of the Australian Securities Exchange on a given day.
To add to that, such modern attributes of forex trading, such as the electronic platforms and extreme leverage (sometimes as high as 500:1) make trading the EUR/USD pair with best forex broker Australia extremely attractive.
In current situation of market turbulence Australian traders are still keen to trade on the currency and binary options markets. They have all the opportunities of acting like global currency traders. This factor has stimulated the growth of retail foreign exchange broking into a multi-billion $ industry that has doubled in size compared to the year 2007.
In Australia the key regulator body for financial markets, services and platforms is ASIC (Australian Securities and Investment Council). Any broker aiming at offering services in Australia has to apply for an ASIC license. ASIC controls compliance with the license rules and in case of violation of the regulation terms it withdraws a license from a forex broker. Among other functions of ASIC are protection of the traders’ personal information and control of the financial transactions.
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