The Australian Securities and Investments Commission (ASIC) is Australia's national financial regulator, requiring every forex and CFD broker operating in Australia to hold an Australian Financial Services Licence (AFSL) (ASIC, 2026). Under ASIC's 2021 product intervention order — extended through at least 23 May 2027 — retail forex accounts are capped at 1:30 leverage on major currency pairs, with mandatory negative balance protection and client fund segregation (ASIC Product Intervention Order, 2021). Unlike UK or EU regulation, Australia has no statutory compensation scheme covering broker insolvency — so verifying your broker's active licence status matters more here, not less.
We searched the ASIC Professional Registers directly and verified the licence status of every broker below. Each entry includes the AFSL number you can check yourself.
Last verified: 16 March 2026 | Brokers checked: 13 | Source: ASIC Professional Registers
TL;DR: All 13 brokers in the active table hold verified AFSL licences as of March 2026. ASIC requires segregated client funds, negative balance protection, and 1:30 maximum leverage on major forex pairs. There is no government compensation scheme if your broker fails — AFCA handles disputes but cannot reimburse insolvency losses. Two brokers in this database had their licences cancelled in 2024. Always verify before depositing.
What Is ASIC and Why Does It Regulate Forex Brokers?
ASIC was established in 1991 under the Australian Securities and Investments Commission Act, taking over financial services regulation from the Australian Securities Commission (ASIC, 2026). It supervises financial markets, registered companies, financial services providers, and consumer credit participants — covering far more than forex, but forex brokers sit squarely within its remit.
"ASIC contributes to Australia's economic reputation and wellbeing by ensuring that Australia's financial markets are fair and transparent, supported by confident and informed investors and consumers," states the regulator directly on its mandate page (ASIC, 2026).
For a forex or CFD broker to legally offer services to Australian retail clients, it must hold an AFSL authorising it specifically to deal in and/or make a market for derivatives — which includes OTC forex contracts and CFDs. Holding a general AFSL isn't enough; the licence scope must explicitly cover these product types.
ASIC is classified as a Tier 1 regulator by the industry — alongside the FCA (UK), CFTC (US), and MAS (Singapore) — based on enforcement rigour, capital requirements, and ongoing supervision standards.
| Detail | Value |
|---|---|
| Full Name | Australian Securities and Investments Commission |
| Abbreviation | ASIC |
| Jurisdiction | Australia |
| Established | 1991 |
| Licence Type | Australian Financial Services Licence (AFSL) |
| Minimum Capital Requirement | AUD 1 million NTA (net tangible assets) for OTC derivatives issuers (ASIC RG 166, 2024) |
| Compensation Scheme | None — no statutory fund for broker insolvency |
| Dispute Resolution | AFCA (Australian Financial Complaints Authority) — membership mandatory |
| Segregated Funds Required | Yes — Corporations Act s981B |
| Negative Balance Protection | Yes — retail clients only |
| Max Retail Leverage | 1:30 (forex majors); 1:20 (minors, gold, major indices) |
| Public Registry URL | ASIC Professional Registers |
| Warning List URL | ASIC MoneySmart Warnings |
The absence of a compensation scheme is the most important difference between ASIC and FCA or CySEC regulation. If an FCA-regulated broker fails, UK retail clients can claim up to £85,000 from the FSCS. If a CySEC-regulated broker fails, EU clients access the ICF (up to €20,000). ASIC offers neither. You can lodge an AFCA complaint if your broker violates rules while operating — but if the broker becomes insolvent, there is no automatic payout.
Verified ASIC Broker Database
Of the 13 brokers in the active table below, the longest-standing has held continuous ASIC authorisation since 2002 — over two decades. Two additional entries show revoked licences from 2024 enforcement actions (ASIC News Centre, 2024). We checked each against the ASIC Professional Registers directly — no broker paid for inclusion and status is sorted by current authorisation, not ratings.
Brokers are sorted by status (active first), then by licence date (longest-held first). This is a verification table — not a ranking.
To verify any entry yourself, visit the ASIC Professional Registers, select "Australian Financial Services Licensee," and search by the AFSL number listed below.
| Broker | AFSL # | Entity Name | Status | Since | Warnings | Verify |
|---|---|---|---|---|---|---|
| CMC Markets | 238054 | CMC Markets Asia Pacific Pty Ltd | ✅ Active | 2002 | None | Registry → |
| Saxo Capital Markets | 280372 | Saxo Capital Markets (Australia) Pty Ltd | ✅ Active | 2003 | None | Registry → |
| FP Markets | 286354 | First Prudential Markets Pty Ltd | ✅ Active | 2005 | None | Registry → |
| Axi | 318232 | AxiCorp Financial Services Pty Ltd | ✅ Active | 2010 | Licence conditions (resolved 2021) | Registry → |
| IC Markets | 335692 | IC Markets Pty Ltd | ✅ Active | 2009 | None | Registry → |
| Pepperstone | 414530 | Pepperstone Group Limited | ✅ Active | 2013 | None | Registry → |
| OANDA Australia | 412981 | OANDA Australia Pty Ltd | ✅ Active | 2013 | None | Registry → |
| IG Markets | 220440 | IG Markets Limited | ✅ Active | 2002 | None | Registry → |
| AvaTrade | 406684 | Ava Capital Markets Australia Pty Ltd | ✅ Active | 2014 | None | Registry → |
| Plus500 | 417727 | Plus500AU Pty Ltd | ✅ Active | 2015 | None | Registry → |
| ThinkMarkets | 424700 | TF Global Markets (Aust) Pty Ltd | ✅ Active | 2015 | None | Registry → |
| XM | 443670 | Trading Point of Financial Instruments Pty Ltd | ✅ Active | 2018 | None | Registry → |
| eToro Australia | 491139 | eToro AUS Capital Ltd | ✅ Active | 2019 | None | Registry → |
| FXOpen AU | 412871 | FXOpen AU Pty Ltd | ❌ Revoked | 2011 | Licence cancelled Sep 2024 | ASIC Notice → |
| XTrade.AU | 343628 | XTrade.AU Pty Limited | ❌ Revoked | 2012 | Licence cancelled Jun 2024 — unconscionable conduct | ASIC Notice → |
Which Major Brokers Hold Active ASIC Licences?
IC Markets — ✅ Active (AFSL 335692)
Licence: ASIC AFSL 335692 | Entity: IC Markets Pty Ltd | Since: 2009 Verify on ASIC Professional Registers →
IC Markets Pty Ltd received its AFSL in 2009, making it one of the earliest Australian-born forex brokers to hold continuous ASIC authorisation. The entity name on the licence — IC Markets Pty Ltd — matches the trading brand directly, which is worth confirming since some broker groups route you through offshore subsidiaries using the same brand name.
The AFSL authorises IC Markets to deal in and make a market for derivatives, which covers OTC forex contracts and CFDs. No enforcement actions appear against this entity in the ASIC register as of March 2026. The broker is also a member of AFCA (membership number available via the AFCA register at afca.org.au), which is a mandatory requirement for any AFSL holder serving retail clients.
Key finding: Continuous ASIC authorisation since 2009, no enforcement history. Check the entity name "IC Markets Pty Ltd" matches what's on your contract before depositing. Full safety investigation: Coming soon
Pepperstone — ✅ Active (AFSL 414530)
Licence: ASIC AFSL 414530 | Entity: Pepperstone Group Limited | Since: 2013 Verify on ASIC Professional Registers →
Pepperstone Group Limited holds AFSL 414530, granted in 2013. Note: Pepperstone also holds FCA authorisation (FCA #684312) and CySEC authorisation (CySEC #388/20). This matters because traders outside Australia may find themselves onboarded under the FCA or CySEC entity rather than the AFSL entity — and each entity has different compensation arrangements. If you're an Australian resident, confirm you're dealing with Pepperstone Group Limited (AFSL 414530) and not a different group entity.
No enforcement actions appear in the ASIC record for this entity. The broker is AFCA-registered.
Key finding: Multi-regulated group — verify which entity your account is actually under. Australian residents should be with Pepperstone Group Limited (AFSL 414530). Full safety investigation: Coming soon
IG Markets — ✅ Active (AFSL 220440)
Licence: ASIC AFSL 220440 | Entity: IG Markets Limited | Since: 2002 Verify on ASIC Professional Registers →
IG Markets Limited holds AFSL 220440 with a track record stretching back to 2002 in the ASIC register — over two decades of continuous authorisation. IG is also regulated by the FCA (FCA #195355) and operates across multiple jurisdictions. The Australian entity is IG Markets Limited, and it's listed on the London Stock Exchange, which adds an additional layer of public accountability beyond the AFSL itself.
No enforcement actions against this entity in the ASIC record as of March 2026.
Key finding: One of the longest-running ASIC-authorised forex brokers. Two decades of continuous operation under the same entity name is a meaningful trust signal. Full safety investigation: Coming soon
Axi — ✅ Active (AFSL 318232)
Licence: ASIC AFSL 318232 | Entity: AxiCorp Financial Services Pty Ltd | Since: 2010 Verify on ASIC Professional Registers →
AxiCorp Financial Services Pty Ltd holds AFSL 318232. This broker has enforcement history worth knowing about: in January 2020, ASIC suspended Axi's licence, citing concerns about financial resource adequacy. AxiCorp challenged the suspension at the Administrative Appeals Tribunal. ASIC ultimately withdrew the proposed suspension in February 2021 after AxiCorp addressed the regulator's concerns.
The licence is currently active with no outstanding restrictions as of March 2026. The suspension episode — which didn't result in cancellation — illustrates that ASIC does act when it has concerns, and that the tribunal review process provides checks on regulatory decisions.
Key finding: Active licence, but the 2020 suspension episode is part of this broker's regulatory history. Worth knowing before depositing. Full safety investigation: Coming soon
FP Markets — ✅ Active (AFSL 286354)
Licence: ASIC AFSL 286354 | Entity: First Prudential Markets Pty Ltd | Since: 2005 Verify on ASIC Professional Registers →
First Prudential Markets Pty Ltd — the legal entity behind FP Markets — holds AFSL 286354, active since 2005. The entity name diverges from the trading name, which is typical for broker groups where the legal entity uses a more formal corporate name. Confirm "First Prudential Markets Pty Ltd" appears in your client agreement.
No enforcement actions against this entity in the ASIC record as of March 2026. AFCA-registered.
Key finding: Nearly 20 years of ASIC authorisation under the same entity, no enforcement history. Confirm entity name on your account documentation. Full safety investigation: Coming soon
eToro Australia — ✅ Active (AFSL 491139)
Licence: ASIC AFSL 491139 | Entity: eToro AUS Capital Ltd | Since: 2019 Verify on ASIC Professional Registers →
eToro AUS Capital Ltd received its AFSL in 2019 — one of the more recently granted licences on this list. The relatively short Australian operating history (7 years) doesn't indicate lower standards, but it does mean less of an ASIC-supervised track record to evaluate.
The global eToro group is regulated in multiple jurisdictions including FCA (UK) and CySEC (EU). Australian clients trade with eToro AUS Capital Ltd specifically, which is the ASIC-authorised entity. Note that eToro's social trading and copy trading features mean your trading outcomes are linked to those of other users — verify that your account is indeed with the AUS Capital entity and not an offshore group entity.
Key finding: Newer ASIC licence (2019), no enforcement history. Verify your entity is eToro AUS Capital Ltd rather than the global entity. Full safety investigation: Is eToro Safe? →
XTrade.AU — ❌ Revoked (AFSL 343628)
Licence: ASIC AFSL 343628 | Entity: XTrade.AU Pty Limited | Cancelled: 6 June 2024 ASIC Enforcement Notice →
ASIC cancelled XTrade.AU's AFSL on 6 June 2024, following an investigation that found the broker had engaged in unconscionable conduct — specifically, encouraging vulnerable clients to trade CFDs in circumstances where they could not afford to do so. ASIC also found that XTrade failed to manage conflicts of interest, put company interests above client interests, and provided inadequate representative training over many years (ASIC 24-122MR, 2024).
XTrade initially appealed the cancellation to the Administrative Appeals Tribunal, then withdrew that appeal on 19 June 2024. The licence cancellation stands.
Key finding: AFSL revoked June 2024. Do not trade with XTrade.AU Pty Limited. If you hold funds with this entity, contact AFCA at afca.org.au.
FXOpen AU — ❌ Revoked (AFSL 412871)
Licence: ASIC AFSL 412871 | Entity: FXOpen AU Pty Ltd | Cancelled: 4 September 2024 ASIC Enforcement Notice →
ASIC cancelled FXOpen AU's AFSL on 4 September 2024, citing serious concerns about the adequacy of the firm's human resources to provide financial services and carry out supervisory arrangements. The regulator found FXOpen AU had failed to maintain competence in providing the financial services covered by its licence and was non-compliant with a "key person" condition on the licence (ASIC 24-194MR, 2024).
FXOpen AU applied for tribunal review on 25 September 2024. Separate FXOpen entities in other jurisdictions operate independently — but the Australian entity's licence is cancelled.
Key finding: AFSL revoked September 2024. FXOpen's non-Australian entities are separate — the AU entity cannot legally provide services to Australian retail clients.
How to Verify a Broker's ASIC Licence Yourself
Only 3 of 16 ASIC-broker pages across major SERPs actually link to the registry. Every other site just lists licence numbers without showing you how to confirm them (WBB research, 2026). The ASIC Professional Registers are free, require no account, and take under two minutes to search. Here is exactly how to use them:
Step 1: Find the Broker's AFSL Number
Go to the broker's website and look in the footer, "About Us" page, or legal disclaimers. Any legitimate ASIC-authorised broker will display its AFSL number — for example, "Authorised and Regulated by ASIC, AFSL 335692." If you cannot find an AFSL number anywhere on the site, that is itself a red flag.
Step 2: Go to the ASIC Professional Registers
Visit connectonline.asic.gov.au — this is the official ASIC registry search tool. It's free, public, and requires no account to search.
Select "Australian Financial Services Licensee" as the register type.
Step 3: Search by AFSL Number or Firm Name
Enter the AFSL number from the broker's website into the search field. You can also search by entity name, but firm names can be tricky — the legal entity on the licence often differs from the trading brand (for example, "First Prudential Markets Pty Ltd" appears on the licence, while the broker markets as "FP Markets").
Searching by AFSL number is more reliable.
Step 4: Check the Authorisation Status and Scope
Once you find the entry, confirm:
- Status: Should show "Authorised" or "Active." If it shows "Cancelled," "Suspended," or "Refused" — do not proceed.
- Authorised to deal in: Verify the licence explicitly covers "derivatives" (which includes OTC forex and CFDs). An AFSL covering only superannuation advice does not authorise forex trading.
- Entity name: Cross-reference this against the entity named in your account agreement or terms and conditions.
- Conditions: Check if the licence has any conditions listed. Conditions restrict what the holder can do.
Step 5: Check the ASIC Warning List
Visit ASIC MoneySmart for the list of unlicensed companies and companies ASIC has warned the public about. Search for the broker's name here as an additional check.
Also check whether the domain name on the broker's website matches what's registered in the ASIC record. Clone firm operators copy real licence numbers but use different websites — if the registered web address in the ASIC record differs from the site you're visiting, stop.
Step 6: Verify AFCA Membership
All AFSL holders serving retail clients must be members of AFCA, Australia's external dispute resolution scheme. Search for the broker at afca.org.au/find-a-member. If an ASIC-authorised broker is not listed in the AFCA register, that's a compliance issue — report it to ASIC.
What Does ASIC Regulation Actually Protect?
ASIC regulation creates a specific floor of protections for retail clients — but not unlimited protection. Here's what the framework actually covers:
Segregated client funds: Under section 981B of the Corporations Act 2001, AFSL holders must hold client money in accounts separate from the firm's own operating funds, on trust for the clients entitled to it (ASIC, 2024). This means the broker cannot use your deposits to cover its own trading losses or operational expenses.
Negative balance protection: Retail clients cannot lose more than they deposit. If a flash crash blows through your stop-loss and your account goes negative, the broker must absorb the difference — not you. This applies to retail clients only; professional clients can opt out.
AFCA dispute resolution: Every ASIC-authorised broker must be a member of AFCA. If you have a complaint the broker won't resolve, AFCA can investigate and award compensation up to AUD 1,085,000 per complaint (as of 2026) for financial losses caused by broker misconduct (AFCA, 2026). This is not insolvency protection — it's a dispute resolution pathway for broker misconduct while the broker is operating.
No insolvency compensation: If your ASIC-regulated broker fails and becomes insolvent, there is no government-backed fund to recover your deposits. This is the key difference from FCA (FSCS up to £85,000) and CySEC (ICF up to €20,000) protection. Your recourse in insolvency is the liquidation process — you become an unsecured creditor, which rarely results in full recovery.
Leverage limits (from ASIC's 2021 Product Intervention Order, extended to 23 May 2027):
| Asset Class | Max Retail Leverage | Max Professional Leverage |
|---|---|---|
| Forex Majors (e.g., AUD/USD, EUR/USD) | 1:30 | Broker-determined |
| Forex Minors, Gold, Major Indices | 1:20 | Broker-determined |
| Other Commodities (not gold) | 1:10 | Broker-determined |
| Individual Equities | 1:5 | Broker-determined |
| Crypto CFDs | 1:2 | Broker-determined |
Professional clients — those who meet at least two of three criteria (large portfolio, frequent trading, financial industry background) — can request higher leverage tiers, but this waives retail protections including negative balance protection.
Red Flags: When "ASIC-Regulated" Doesn't Mean Safe
ASIC's own MoneySmart platform lists dozens of unlicensed companies operating in Australia — most using real AFSL numbers from legitimate brokers to appear credible (ASIC MoneySmart, 2026). Holding an AFSL doesn't make a broker risk-free, and the risks go beyond outright fraud. These are the patterns that catch traders off guard:
Clone Firms Using Real AFSL Numbers
Scammers copy legitimate AFSL numbers from the ASIC register and use them on their own fraudulent websites. The real broker is genuinely regulated — but the site you're giving money to is not that broker. The clone firm tactic works because victims see a real AFSL number and don't check whether the website address matches what's on the ASIC register.
How to spot it: Go to the ASIC register entry for the AFSL number and check the registered website address. If it differs from the site you're visiting, you're looking at a clone. ASIC publishes a list of known clone firm warnings at moneysmart.gov.au.
Offshore Entity Routing
Several international broker groups hold both an AFSL and offshore licences (SVG, Vanuatu, Marshall Islands, or similar). The AFSL entity might be marketed on the homepage, but when you sign up, you're routed to the offshore entity — typically with higher leverage, lower protections, and no AFCA access.
How to spot it: Read your account opening confirmation email and the terms of service carefully. The entity name in your client agreement is the entity regulating your account. If it's "XYZ Trading Ltd, SVG" rather than the AFSL entity, you're not under ASIC protection regardless of what the website says.
Expired or Suspended Licences Still Being Marketed
Two brokers in this database had their AFSLs cancelled in 2024. It's plausible — and has happened before — that broker websites continue operating and accepting deposits after a licence is cancelled, particularly if the operator has relocated offshore.
How to spot it: Always verify the current status in the ASIC register, not just the licence number. An AFSL that was valid last year may not be valid today. Our "last verified" date at the top of this page tells you when we last checked — re-verify yourself if weeks have passed.
Authorisation Scope Mismatch
Not all AFSLs cover all products. An AFSL authorising "general financial product advice" does not authorise dealing in OTC derivatives (forex, CFDs). A broker might legitimately hold an AFSL for one business line while operating an unauthorised forex offering.
How to spot it: In the ASIC register entry, look at the "Authorised to" section. It should explicitly list "deal in derivatives" or "make a market for derivatives" as authorised activities. If it only lists "provide general financial product advice" or similar, it does not cover forex trading.
Retail Classification Mistakes
Some brokers encourage retail clients to apply for professional client classification — primarily to remove leverage caps and access higher margin ratios. Professional status removes AFCA access and negative balance protection. It's legal for brokers to offer this, but applying for professional status without genuinely meeting the criteria (and understanding what protections you're waiving) is a meaningful risk.
How to spot it: If a broker proactively encourages you to classify as a professional client when you haven't requested it, treat that as a flag. Legitimate brokers explain the trade-offs clearly; high-pressure professional reclassification is a sales tactic.
How Has ASIC Enforced Rules Against Forex Brokers?
ASIC issued 20 financial penalties in the first half of 2024 alone, totalling AUD 32.2 million across all financial services sectors (ASIC, 2024). Forex and CFD providers have been a consistent enforcement priority since the 2021 product intervention order created specific retail client protections. Here are the confirmed enforcement actions from the last three years:
| Date | Entity | AFSL | Action | Reason | Source |
|---|---|---|---|---|---|
| Jun 2024 | XTrade.AU Pty Limited | 343628 | Licence cancelled | Unconscionable conduct; vulnerable client exploitation | ASIC 24-122MR |
| Sep 2024 | FXOpen AU Pty Ltd | 412871 | Licence cancelled | Inadequate human resources; failure to maintain key person condition | ASIC 24-194MR |
| Dec 2023 | Prospero Markets Pty Ltd | — | Licence suspended | Broker entered liquidation; suspended pending investigation | ASIC |
| Dec 2025 | Stratos Trading Pty Ltd (FXCM) | — | DDO stop order (interim) | Target Market Determination deficiencies — included medium-risk investors in high-risk CFD product | ASIC 25-295MR |
Note on Stratos/FXCM: The December 2025 stop order was revoked on 16 December 2025 after FXCM amended its Target Market Determination to address ASIC's concerns. This is included here as evidence that ASIC actively monitors DDO (Design and Distribution Obligations) compliance — not as an ongoing warning against FXCM. The broker's licence remains active.
The Prospero Markets case shows what happens when an ASIC-regulated broker enters insolvency. Prospero's licence was suspended in December 2023 and subsequently cancelled. Traders who held funds with Prospero became unsecured creditors in the liquidation — with no statutory compensation fund to fall back on.
The Bottom Line on ASIC Regulation for Forex Traders
ASIC is a genuine Tier 1 regulator — enforcement records, capital requirements, and active supervision confirm that. But it doesn't offer the same trader safety net as the FCA or CySEC because there's no compensation scheme for broker insolvency. An ASIC licence means the broker has met minimum standards and is subject to ongoing oversight; it does not mean you're protected if the broker fails. Verify the AFSL number in the register, confirm the entity name on your contract, and check the AFCA register before depositing.
If you're comparing ASIC brokers against those regulated elsewhere, our FCA regulated forex brokers and CySEC regulated forex brokers verification databases use the same format — each entry links to the official registry.
Frequently Asked Questions
Is ASIC a Tier 1 regulator?
Yes. ASIC is classified as a Tier 1 regulator alongside the FCA (UK), CFTC (US), and MAS (Singapore). This classification reflects ASIC's minimum capital requirements for licensees (AUD 1 million NTA), mandatory client fund segregation, active enforcement, and structured supervision of financial services firms. Tier 1 status indicates regulatory rigour — not an absence of risk when trading with regulated brokers.
How do I check if a broker is ASIC regulated?
Visit the ASIC Professional Registers at connectonline.asic.gov.au. Select "Australian Financial Services Licensee" as the register type. Enter the broker's AFSL number (found in their website footer or legal disclaimers) and confirm the status shows "Authorised" or "Active." Also check that the authorised activities explicitly include "deal in derivatives" — a general AFSL does not authorise forex or CFD trading.
What happens if my ASIC-regulated broker goes bankrupt?
There is no statutory compensation scheme in Australia for broker insolvency, unlike the UK's FSCS (£85,000) or the EU's ICF (€20,000). If your ASIC-regulated broker becomes insolvent, you become an unsecured creditor in the liquidation proceedings. Client funds held in properly segregated accounts (as required by Corporations Act s981B) are protected from being used in liquidation — but recovery is not guaranteed and depends on the accuracy of segregation. Your primary recourse is the AFCA complaints process, which applies to broker misconduct while the firm is operating, not post-insolvency recovery.
Are all ASIC-regulated brokers safe?
No. Two ASIC-regulated brokers had their AFSLs cancelled in 2024 — XTrade.AU for unconscionable conduct against vulnerable clients, and FXOpen AU for inadequate human resources. Holding an AFSL demonstrates that a broker met minimum standards at the time of licensing; it does not guarantee ongoing compliance or financial safety. Always verify current licence status in the ASIC register (not just the broker's website), confirm your funds are with the ASIC-authorised entity (not an offshore subsidiary), and use AFCA for dispute resolution if problems arise.
What is the ASIC compensation limit for forex traders?
ASIC has no statutory compensation scheme for broker insolvency. The AFCA external dispute resolution scheme can award up to AUD 1,085,000 per complaint for financial losses caused by broker misconduct while the broker was operating — but this is compensation for misconduct, not an insolvency payout. There is no automatic recovery of funds if a licensed broker fails.
Can ASIC help me get my money back from a broker?
If your broker has committed demonstrable misconduct — misrepresentation, unauthorised withdrawals, failure to follow instructions — ASIC's approach is to enforce regulatory standards through licence conditions, suspensions, cancellations, and court orders. For individual client money recovery, AFCA is the appropriate mechanism. Lodge a complaint at afca.org.au if you have a dispute with an ASIC-regulated broker. ASIC does not operate as an individual dispute resolution service — but it does act on patterns of misconduct that harm retail clients.
What leverage limits apply to ASIC-regulated forex accounts?
Under ASIC's product intervention order (in force since March 2021, extended to at least 23 May 2027), retail client leverage is capped at 1:30 for major currency pairs (AUD/USD, EUR/USD, GBP/USD, etc.), 1:20 for minor currency pairs and gold, 1:10 for other commodities, 1:5 for individual equities, and 1:2 for crypto CFDs (ASIC, 2021). Professional clients who meet specific eligibility criteria may access higher leverage, but lose retail protections including negative balance protection.
Can I trade with an ASIC broker from outside Australia?
ASIC licences are specifically designed for service to Australian clients. Many ASIC-regulated brokers also hold licences in other jurisdictions (FCA, CySEC, MAS) and serve non-Australian clients through those separate entities. If you are based outside Australia and open an account with an "ASIC-regulated" broker, confirm which entity is actually servicing your account — you may be under the non-Australian entity with different rules and protections.
What is an AFSL and why does a forex broker need one?
An Australian Financial Services Licence (AFSL) is the mandatory licence required to provide financial services — including forex trading, CFD dealing, and financial product advice — to Australian clients. Issued by ASIC under the Corporations Act 2001, an AFSL requires the holder to meet minimum capital requirements (AUD 1 million NTA for OTC derivatives issuers), demonstrate adequate human resources and compliance arrangements, maintain professional indemnity insurance, and be a member of AFCA for retail dispute resolution. Operating a forex service in Australia without an AFSL is a criminal offence.
Does ASIC regulate crypto trading?
ASIC regulates crypto-asset products that constitute financial products under Australian law — primarily crypto CFDs and crypto exchange-traded products (ETPs). Spot cryptocurrency trading (buying and holding actual crypto assets) is not currently regulated under the AFSL framework, though ASIC has indicated that broader crypto asset regulation is under development. The 1:2 leverage cap applies to crypto CFDs offered by AFSL holders — not to crypto exchanges operating outside the AFSL framework.
Related Regulation Resources
Verifying your broker's regulatory status is the starting point — not the whole picture. These resources cover the same ground for other major regulators and common broker safety questions:
- FCA Regulated Forex Brokers — UK-regulated brokers verified against the FCA Register, with FSCS protection up to £85,000
- CySEC Regulated Forex Brokers — Cyprus-regulated brokers verified against the CySEC register, ICF protection up to €20,000
- Forex Regulation Hub — All WiBestBroker regulatory verification guides, updated quarterly
- Scam Broker Alerts — Brokers flagged for fraudulent activity, unauthorised operations, or enforcement warnings
- Is eToro Safe? — Full safety investigation for one of the ASIC-listed brokers on this page
For any broker not listed in the databases above, the same verification process applies: AFSL number → ASIC Professional Registers → confirm authorisation status and scope → check AFCA membership → verify registered website address matches.
Data sourced from ASIC Professional Registers, ASIC News Centre, and AFCA. Enforcement information sourced from official ASIC media releases. Last verified: 16 March 2026. WiBestBroker does not accept affiliate payments from brokers listed on this page.