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Best Forex Brokers in Australia for 2022 - Top 10

  • April 28, 2022 4:57 PM EDT

    We all need to trade through a forex brokerage business, whether we are retail or small institutional forex traders. The bigger you get, the closer you go to the main players in the market - banks, mutual funds, hedge funds, and significant investment organisations. They account for over 75% of the FX market capitalisation. Some banks may act as their own brokers. Individual traders like you and me, as well as small trading businesses, make up the other 25%.

    Choosing the best forex broker is not a one-time event. It is a moving target that is influenced by one or more of the following factors:

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    -Forex brokers that are regulated or unregulated.

     

    -At what point in your trading career are you? You either trade for your own money or manage the money of others.

     

    -The size of your trading account.

     

    -Services provided by a certain forex broker that meet your trading needs.

     

    -Tax consequences if you create a trading account with a broker based in the United States, the United Kingdom, or Switzerland, as well as tax haven jurisdictions like as Hong Kong, Singapore, the British Virgin Islands, Bermuda, and Cyprus.

    -Regulatory changes in the industry. For example, from October 18, 2010, a new leverage of 50:1 (formerly 100:1) was imposed on US-based forex brokers, which has already had an impact on traders holding accounts with them.

     

    The FX market, unlike the stock and commodities markets, is unregulated. Regulation is optional rather than mandatory. Brokers who opt to be regulated are hoping to attract more clients who will create accounts with them. Having your funds placed with a registered forex broker increases the likelihood of your funds being safe. The section 'Safety of Your Funds' goes into further detail on this topic.

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    • 41 posts
    April 29, 2022 4:46 AM EDT

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    This post was edited by Luka Mitrovich at April 29, 2022 4:47 AM EDT