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Forex trading is 100% legal in Australia. The Australian Securities and Investments Commission (ASIC) regulates FX trading in Australia. All domestic brokers must obtain an Australian Financial Services License (AFSL) license, while Aussie Forex traders may also trade with international brokers. The Corporations Act 2001 outlines rules and regulations for Australian financial firms, including Forex brokers in Australia, to remain compliant with the law. It is also paramount for Australian Forex traders to report profits to the Australian Taxation Office (ATO), regardless of whether their portfolios are in Australia or offshore.To get more news about australian forex brokers, you can visit wikifx.com official website.

Tips for Forex Trading in Australia
While many new Aussie Forex online enthusiasts focus on trading strategies and profits, compare Forex brokers, and try to find the Best Trading Platform Australia, they miss some of the most critical aspects for successful Forex trading. Below are a few tips for Forex trading in Australia to make sure that you have the proper non-broker trading conditions.

Trading Space - You must have a distinct trading space, even if you trade from home, as all retail traders do. Ensure it is quiet so that you can focus on trading, which is one of the most challenging mental activities you will encounter.

Avoid Distractions - Since Forex trading takes place online, there are countless distractions, primarily from social media. Avoid them when you trade. Learn to dedicate specific time slots per day for trading, and during those periods, invest your energy on nothing but trading. Otherwise, your results will reflect your distractions.

Breaks - One of the most ignored aspects of this time-consuming profession, even for retail trades, is the necessity to take breaks. Starring at screens will place your brain on autopilot, and you will be prone to miss alerts and trading signals.

Exercise and Diet - It may sound far-fetched, but exercise improves your mental strength, which you need when you trade Forex. A healthy diet adds to your overall well-being, can encourage you to exercise, and ultimately give you another edge.

Analyze and Visualize - Always analyze your trades, profits, and losses. There is constant room for improvement, even if you only squeeze out a few pips per trade. They add up and will make a significant difference. Visualize your trading strategy, your upcoming trading day, and how you will aim to become a better Forex trader.

Understanding the Australian Forex Market
Founded in July 1998, it is one of the most capable and trusted regulators globally, second only to the UK Financial Conduct Authority (FCA). Therefore, Australian regulated Forex brokers have emerged as some of the most sought-after brokers, offering the most competitive and secure trading environment available today.

The Forex market remains the most liquid financial market globally, and thousands of new traders open accounts daily. Over 1,500 Forex / CFD brokers globally are catering to the growing demand, with new ones setting up shop every month. Following regulatory changes in the E.U., affecting former broker hotspot Cyprus, Australia took the top spot due to its business-friendly environment allowing Forex brokers to expand their business while offering traders security. ASIC established itself as a trustworthy and proactive regulator, giving traders a peace of mind when trading with any of the regulated brokers. All ASIC-regulated brokers operate under the protection of the Act of Grace mechanism under section 65 of the Public Governance, Performance, and Accountability Act 2013, while traders enjoy the protection under the Scheme for Compensation for Detriment caused by Defective Administration (CDDA Scheme).

With many new traders entering the world of Forex daily, and popularity among Australian ones rising, we have examined the best Australian Forex brokers and created a Top list. Among them are the best Australian Forex brokers for beginners, where excellent educational tools await those traders with a sincere interest in becoming an Aussie Forex online master.

The Australian Forex market experienced a growth burst driven by regulatory changes enforced in the European Union in 2018. These changes rendered the E.U. uncompetitive, harming former safe-haven Cyprus. The transition is ongoing, but Australia is one benefactor of the slow exodus out of the EU by Forex brokers and traders alike. While Australia will soon receive competition from the U.K. following Brexit and a return to more market-friendly policies free of E.U. regulation, ASIC maintains a competitive environment for finance. Domestic trends show a continuous increase in demand, partially driven by the secure trading environment, low capital requirements, and high leverage.

FP Markets and Pepperstone remain two of the most trusted and recognized brokers globally, confirmation of the outstanding effort by the Australian regulator in promoting a platform for growth. Over the next decade, the Australian Forex market is forecast to capture a more substantial market share, with its close relationship and economic dependence on China, the largest Forex market globally, providing an invaluable catalyst. Forex trading Australia remains a high-growth sector to monitor, with exciting opportunities from its emerging FinTech industry transforming the market. The best Australian Forex brokers invest heavily in their technology infrastructure, providing a significant competitive edge to traders, eliminating slippage and requotes.