Forex trading has only been around going back two decades and is a fairly new financial market when compared to the other financial markets like the stock market or futures market. Thus the rules governing the forex market are relatively new and are few in between. This section of concern is compounded by the actual fact that forex is also an Over-the-counter (OTC) market that will not have central processing location. In addition, to make issues even more complicated, forex addresses many countries and therefore requires mutual agreements among all the countries included to pass rules or legislations to regulate it.
However as Forex currency trading becoming more and more popular, some countries have previously amended their rules to improve the security of investors trading in the Forex market. To protect investors, most countries resort to increasing the Forex trading companies capital requirements as well as having them get yourself a licence from the regulatory physiques. In Australia, Forex trading is controlled by the Australian Securities and Investment Commission (ASIC). All real Forex trading companies that offer with retail Forex currency trading services must be signed up with this regulatory body which means that these companies match the capital requirement.
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In addition, Forex trading companies conducting business in Australia must obtain an Australian Financial Services Licence or be licenced with the RBA (Reserve Bank or investment company of Australia). Thus, Forex traders in Australia who wish to trade Forex should offer with those Forex trading companies that are signed up with AISC and licenced by the RBA to ensure that their investments are properly secured for legal reasons.
Below are a few of the reputable Forex trading companies that provide online Forex trading facilities that are registered with AISC. Located in Melbourne and with offices in Sydney and the Gold Coast, Sonray Capital Markets was set up in 2003 and it is one of the marketplace leaders in Forex currency trading facilitation in Australia.
The company utilises the services of authorized alternative party providers that are properly licenced to deal with the execution of investments. Also signed up with AISC is Halifax. This company main base of procedure is in Sydney. The HALIFAXONLINE integrated trading platform provided by the corporation not only permits a trader to deal with Forex but also CFD, Equities and futures as well.
100. The ongoing company office is located in Melbourne and is regulated by AISC. Its trading platform is online and will not require any downloading of softwares or firewall configurations. Also situated in Melbourne is Go Markets Pty Ltd. 254963 is registered to cope with not only with Forex but also with CFDs and Equities.
They have numerous partnerships with overseas financial institutions and are well linked to act on their clients behalf all around the globe. 1 must open an account with them and they offer up 300 to at least one 1 margin trading ratio with their clients. Among the major exporting countries of nutrient resources in the global world, the Australian buck is one of the most traded currencies also. It really is positioned fourth by quantity traded and is the seventh largest Currency markets in the global world. With all the global financial meltdown affecting the worthiness of equities seriously, increasingly more Australian investors are now looking towards the Forex market as an investment vehicle due to its liquidity.