Kangaroos Step in Brokers

After the introduction of the new EU MiFIDII regulations, UK retail forex, and CFD policies, investors seem to pay their attention to Australia. Australia's well-established financial laws and regulatory systems have nurtured many excellent local brokers and attracted many large overseas brokers to settle down. These advantages make investors favor Australian brokers.

As Australia's forex transactions continue to grow, the number of regulated brokers available to global forex investors in Australia is large.

The types of Australian forex brokers include ECN forex brokers, fixed spreads brokers, STP brokers, and MT4 brokers. In addition, there are a few top forex brokers offering negative balance protection. Some brokers require customers to pay off the margin account and even collect the arrears by suing and entrusting debt collection agencies. Of course, not all brokers will do this. They normally offer clients with negative balance protection. Negative balance protection is a measure to protect traders from falling into debt dispute when the transaction fails. However, on the other hand, we should see that in the past ten years, many Australian forex brokers bankrupted. After causing a loss of 46 million US dollars, a person in charge was sentenced to six and a half years in prison. But this is all caused by corruption. Presumably, Australia's strict forex supervision will not take responsibility for the case.

When you know some brokers, you will find that each forex broker is very keen on advertising you to open an account and deposit funds. Therefore, when you put your trading funds in the account of a forex broker in Australia, you must have your judgment. Spreading funds among multiple brokers is a good way to reduce default risk.

WikiFX is a global Forex inquiry platform that provides real-time rankings of Forex brokers. So if you are seeking a broker to start your Forex trading journey, please search the detailed information about the broker on the WikiFX.