Australian Securities and Investments Commission (ASIC) Brokers 2024
Brokers regulated by the Australian Securities and Investments Commission (ASIC) must abide by a range of measures to protect the interests of retail investors. This guide explains how the ASIC improves the financial system in Australia, alongside the agency’s history and safety protocols. Our team have also listed the leading ASIC-registered brokers.
Best ASIC Brokers
These 5 ASIC brokers are the best choices for traders from Australia based on our experts' tests and recommendations:
#1 - AvaTrade
Why We Chose AvaTrade
AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.
"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures
- Regulator: ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM
- Platforms: WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
- Minimum Trade: 0.01 Lots
- Leverage: 1:30 (Retail) 1:400 (Pro)
#2 - Pepperstone
Why We Chose Pepperstone
Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.
"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."
- DayTrading Review Team
- Instruments: CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
- Regulator: FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
- Platforms: MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
- Minimum Deposit: $0
- Minimum Trade: 0.01 Lots
- Leverage: 1:30 (Retail), 1:500 (Pro)
#3 - XM
Why We Chose XM
XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.
"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading."
- DayTrading Review Team
- Instruments: Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures
- Regulator: ASIC, CySEC, DFSA, FSC, FSCA
- Platforms: MT4, MT5
- Minimum Deposit: $5
- Minimum Trade: 0.01 Lots
#4 - IC Markets
Why We Chose IC Markets
IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.
"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
- Regulator: ASIC, CySEC, FSA
- Platforms: MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
- Minimum Deposit: $200
- Minimum Trade: 0.01 Lots
- Leverage: 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
#5 - Eightcap
Why We Chose Eightcap
"Eightcap delivers in every area for day traders with a growing selection of charting platforms and AI-powered tools. Now sporting 250+ crypto CFDs and the Crypto Crusher market scanner, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities
- Regulator: ASIC, FCA, xCySEC, SCB
- Platforms: MT4, MT5, TradingView
- Minimum Deposit: $100
- Minimum Trade: 0.01 Lots
What is ASIC?
So before looking at basic rules and regulations on trading and of the markets in general, what precisely is the ASIC? They are an independent governmental and regulatory body. The purpose of the Australian Securities and Investment Commission is to protect Australian consumers and investors. Their role sees them responsible for the following duties:
- Implementing and enforcing the law
- Processing, storing and managing information efficiently
- Encouraging confident and informed investor participation
- Maintaining and improving the performance of Australia’s financial system
- Promptly making public relevant data and information about companies and bodies
The organisational structure of the Australian Securities and Investments Commission is relatively straightforward. The regulatory body reports to the treasurer, who is responsible for the administration of the subsequent legislation:
- Corporations Act, 2001
- Insurance Contracts Act, 1984
- National Consumer Credit Protection Act, 2009
ASIC Brokers
#1 - AvaTrade
Why We Chose AvaTrade
AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.
"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures
- Regulator: ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM
- Platforms: WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
- Minimum Trade: 0.01 Lots
- Leverage: 1:30 (Retail) 1:400 (Pro)
#2 - Pepperstone
Why We Chose Pepperstone
Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.
"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."
- DayTrading Review Team
- Instruments: CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
- Regulator: FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
- Platforms: MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
- Minimum Deposit: $0
- Minimum Trade: 0.01 Lots
- Leverage: 1:30 (Retail), 1:500 (Pro)
#3 - XM
Why We Chose XM
XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.
"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading."
- DayTrading Review Team
- Instruments: Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures
- Regulator: ASIC, CySEC, DFSA, FSC, FSCA
- Platforms: MT4, MT5
- Minimum Deposit: $5
- Minimum Trade: 0.01 Lots
#4 - IC Markets
Why We Chose IC Markets
IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.
"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
- Regulator: ASIC, CySEC, FSA
- Platforms: MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
- Minimum Deposit: $200
- Minimum Trade: 0.01 Lots
- Leverage: 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
#5 - Eightcap
Why We Chose Eightcap
"Eightcap delivers in every area for day traders with a growing selection of charting platforms and AI-powered tools. Now sporting 250+ crypto CFDs and the Crypto Crusher market scanner, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities
- Regulator: ASIC, FCA, xCySEC, SCB
- Platforms: MT4, MT5, TradingView
- Minimum Deposit: $100
- Minimum Trade: 0.01 Lots
History
ASIC was originally the Australian Securities Commission (ASC) and came to life on January 1st, 1991 after the 1989 ASC Act. Initially, the idea was to unite regulators in Australia by replacing the National Companies and Securities Commission and the Corporate Affairs offices.
It wasn’t until July 1st, 1998 that the regulator became the Australian Securities & Investments Commission (ASIC). At this point, the website, databases and legislation also became concerned with consumer protection, insurance and deposit-taking.
The Australian Securities and Investment Commission 2001 regulations were a substantial stride towards effectively overseeing and improving the financial system. However, in its more recent history, ASIC has taken on responsibilities for:
- 2002 – Credit
- 2009 – The Australian Stock Exchange
- 2011 – Chi-X
It’s also worth mentioning that on March 15th, 2011, ASIC launched a consumer website called MoneySmart. Putting regulations to the side, this website aims to help individuals make smart financial decisions by providing a range of unbiased tools and information.
Powers
Day trading with brokers in line with ASIC regulations should afford you a certain degree of protection. However, they also enact responsive regulations and follow guides for enforcing their powers across a number of services. In fact, their regulatory and enforcement powers include:
- Issuing infringement notices when there is a breach of the law
- Seeking out penalties from courts and proceeding with prosecutions
- Creating and implementing rules that ensure the integrity of financial markets
- Banning and preventing people from participating in credit activities or offering financial services
- Investigating breaches of the law, including requiring suspects to produce books or undergo examination
Australian Market Regulation Feed
One service of particular importance is the Australian Market Regulation Feed. To monitor trading activity, brokers and market operators have to facilitate access to ASIC’s Integrated Market Surveillance System. This means brokers and other relevant bodies in the registry must allow daily access to:
- All orders, trades and quotes that are processed and circulated by the trading engine
- All messages related to trading sessions, product price and status
This is just one of the Australian Securities and Investments Commission’s services that helps to protect the interests of consumers and traders.
Criticisms
Despite the Australian Securities and Investments Commission undertaking many successful investigations and functions, it hasn’t all been without problems. For example:
- In recent years ASIC has faced criticism from consumers for inaction in protecting customers from larger financial institutions.
- 2015-2016 saw ASIC taken to court by those who suffered at the hands of the Storm Financial Collapse. It was thought ASIC’s inaction was enough to warrant malfeasance.
- ASIC failed to act against Australia’s Financial Ombudsman Service when they released misleading file notes during the discovery phase in a Victorian Supreme Court case.
- It took over five years of Australia’s major banks rigging interest rates before ASIC took action.
- The Australian Securities and Investments Commission registration process could be made simpler, while guidance on navigating the registry could be improved.
Why does this matter to day traders who are concerned with their specific market regulations? It’s important because it suggests ASIC may not be as effective and reliable as they claim to be. As a result, it could be argued that ASIC may fail to detect or act when ASIC regulated brokers breach rules and regulations.
Final Thoughts
ASIC regulations and rules around day trading are in place to protect consumers. Their extensive scope, in theory, allows them to keep brokers in check and traders somewhat secure from scams and fraudulent activities.
However, it’s also worth noting there have been criticisms levelled at ASIC in recent years, suggesting their regulations may not be quite as reliable and comprehensive as initially thought.