Compare ASIC Regulated Brokers

Are you searching for an ASIC broker to trade with? In this quick guide, we have listed and compared some of the leading ASIC brokers to give you a helping hand.

ASIC regulated brokers are considered some of the safest brokers in the world to trade with due to ASIC’s strict compliance and no-nonsense approach. But finding, comparing, and choosing an Australian broker is tough – why – because there are so many of them to choose from!

We hope this section helps you to understand what an ASIC regulated broker is and does. We also explain the importance of holding an AFSL (licence) and list some recommended ASIC brokers that might be suitable.

Recommended ASIC Brokers For 2021

Broker     Official Site   Max. Leverage Regulations Min. Deposit    Spreads From Review
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30:1 $0 0.14 (Fixed)
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30:1     $200 From 0.1 pips
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30:1 $100 From 0.9 pips
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30:1   $100 From 0.5 pips
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What is ASIC and What Does it Do?

ASIC, or the Australian Securities and Investments Commission, is an Australian government agency tasked with enforcing and regulating the financial markets within Australia.

Coins & clockLaunched in 1998, ASIC are considered a Tier-1 licence to hold and one of the world’s toughest regulatory authorities. They ensure that all Australian CFD & FX brokers hold a relevant, up-to-date, and legal AFSL (Australian Financial Services License). ASIC also ensure that all brokers adhere to and respect the polices and procedures they have set out, by regularly monitoring the activity of all brokers.

By choosing to trade with an ASIC regulated broker, you are giving yourself an excellent chance of trading with an honest and trustworthy broker. If a broker is not acting in accordance with ASICs tight regulatory regime, they will risk losing their license.

What Are ASIC’s Responsibilities?

ASIC’s main purpose is to ensure that there are fair, honest and transparent standards between the financial businesses that ASIC oversees and the Australian investors that use financial services.

They do this by implementing set rules, regulations, processes and procedures on all brokers under their supervision. This ensures that only safe and reputable brokers are able to offer their services to Australians.

ASIC’s main goals:

  • Monitor and hold finance-industry businesses accountable to high standards.
  • To promote and actively grow financial activity in a fair and safe manner.
  • Implement and administer the law in an effective manner.
  • Provide all relevant information on businesses which can be easily accessed by the public.

How Do You Compare Brokers to Find the Best One?

ASIC is considered one of the most respected regulators in the world, but how do you separate the good brokers from the bad?

When looking to compare ASIC brokers, consider these important factors:


Yes, your broker may hold an AFSL and be regulated by ASIC, but are you trading under that licence, or another of their licences? That may sound like an odd thing to say but it is worth checking. We have become increasingly aware of some ASIC regulated brokers who are onboarding Australian residents (and non-Australians) onto their offshore licences so they can receive higher leverage.

Please ask your Australian broker if your account is under their ASIC licence or another before you begin to trade.

Trade chart analysisCost of Trading

Each broker will charge you to trade on their platform, however each will have different pricing models. Some will charge spread-only, some will charge commission-only, and some will combine the two.

Be wary of marketing gimmicks like “trade from 0 pip spreads”, “trade commission-free” and the like. 99% of the time these will be too good to be true and the broker will be charging you some other way. For instance, if a broker says that their spreads start at 0 pips, you will probably never get that, especially during times of volatility. And even if you do get it, they will probably charge you a sneaky commission, so they make some sort of money off you!

Our recommendation would be to find a broker that offers tight, fixed spreads so you always know how much you are going to be charged to trade. is one such broker.

Funding the Account

If you are quite particular about how you would like to fund the account, make sure your broker of choice offers that method. For instance, if you would like to deposit using PayPal, make sure your ASIC broker offers it, otherwise you might need to find an alternative.

As a bare minimum, most brokers will accept debit and credit cards, along with bank transfers. Many others offer alternative payment methods like Skrill, Paypal, Neteller, UnionPay and even cryptocurrency these days.

Finally, always check if there are going to be any deposit or withdrawal fees before sending any money to your broker. Some brokers will charge you a small fee which we feel is wrong, while some banks (but not all) will charge fees too.

Customer Service

You can tell a lot about a broker by the quality of their customer support team. Some ASIC brokers offer excellent customer service – pleasant, knowledgeable, human and most importantly, helpful! Other brokers offer very poor support, and we feel that could be a sign of things to come.

We would recommend calling the support team of a few brokers and asking some generic questions to gauge how helpful and informative they are.

Platform Choice

There are plenty of trading platforms to choose from, each with pros and cons to them. MT4 is a platform that plenty of brokers offer, as are MT5 and cTrader. Some brokers also have in-house built, proprietary platforms that are very good and offer something different to MT4 and other well-known platforms.

Finding a platform that suits you is a very individual choice – we all like different things, right – and trading platforms are no different. We always say that it is best to test out a few demo accounts and see what tickles your fancy before committing to a live account.

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Conclusion: Why Trade With an ASIC Broker?

Whilst ASIC brokers can no longer offer leverage greater than 30:1 due to ASIC’s Product Intervention Order that came into effect on the 29 March 2021, there are still many positives about trading with an ASIC broker.

ASIC has a fierce and well-respected reputation, which should fill traders with a lot of confidence. If their broker gives them any nonsense or treats them unfairly, they can complain to AFCA and their licence may be stripped from them. This ensures a level playing field for both parties.

Furthermore, ASIC does not simply hand out licenses to anyone who wants one. There are strict guidelines and checklists to be granted an AFSL and the whole process takes at least 6-12 months. ASIC will need to be fully satisfied that a broker will act accordingly before they approve an AFSL and that should fill traders with immense confidence.