Given to the size and the nature of the forex market, it does not come as a surprise that is really popular in a country like Australia. In effect, brokers in Australia are popular among forex brokers because of the following
- Customer care services
- Regulatory compliance
- Competitive trading conditions
This is not to say that brokers in other countries are not as good as there are lots of award winning brokers in other parts of the world. How do Australian brokers’ customer care service, regulatory compliance, and competitive trading conditions help make them one of the best groups of brokers there is?
CUSTOMER CARE SERVICE:
Most brokers in Australia have efficient customer care serving traders from different parts of the world. They are not just knowledgeable enough about currency exchange business; they also offer their services in different languages. This removes the barrier traders would have faced in communicating with them.
Forex investors are usually advised to study the forex market really well before making any investment at all. One of the important areas expected to be thoroughly researched about is what broker to sign up with. There are different types of forex brokers, and there are different regulatory bodies guiding them. A forex broker registered under any of this regulatory body is expected to handle business in obedience to some rules and regulations. These rules and regulations serve as some sort of transparency in every transaction performed by that broker. Traders are rest assured of the safety of their investment into the forex market against scam, and are not scared of any unforeseen circumstances that may cause the broker to lose money or fold up. So long as the broker is regulatory compliance, the investors’ resources are safe.
In Australia, the ASIC (Australian Security and Investment Commission) is a renowned body that offers a host of services, including regulating forex brokers in Australia to ensure that they conduct business activities based on conventional standards that will not jeopardize the interest of their clients.
COMPETITIVE TRADING CONDITIONS:
What will brokers in Australian not do to gain clients? They go as far as setting up competitive trading conditions to attract traders to register with them. They offer really narrow spreads and low commissions, and they even offer traders the opportunity to invest in the forex market with little or no initial deposits at all. All the trader have to do is do one of their demo trade competitions, win, and have his or her forex account credited with the price.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.