How to know if the forex trading company is legal?
I'm a beginner in forex and I dont have actual experience in forex trading.
-You will know it is a regulated broker or it is legal when it operates in accordance with the rules of the Australian Securities and Investment Commission (ASIC) and licensed under the Australian Finance Service License (ASFL). The purposes of the said authorities are to make sure that financial markets in Australia are fair and transparent and to ensure safety of funds that other unregulated broker doesn't posses.
Hi April, I suggest you open an account with a broker that is regulated by a well known regulator, such as the Financial Conduct Authority (FCA) for example. FCA regulated brokers accept traders from all over the world. They also hold your money in segregated accounts, separate from their own funds, and you will also qualify for compensation in the unlikely event that your broker goes bankrupt. Please see our guides to FCA regulated brokers as well as brokers with segregated accounts.