Still, the regulator argued that these rules were necessary to protect customers. This is a bit low considering that some regulators allow unlimited size of leverage. Like in Europe, the maximum leverage that can be offered is 1:30.

For example, the regulations reduced the maximum leverage that online brokers can offer. In 2020, it passed MiFID II-style regulations that had some impact on the sector. Recently, ASIC has moved to implement strict regulations in the industry. Indeed, some of the biggest forex and CFD brokerage companies like PepperStone and EightCap were all established and are headquartered in Australia At the same time, the country has many online brokerage companies that provide customers with access to local and international assets.

Role of ASIC in AustraliaĪustralia has a vibrant financial market with thousands of publicly traded companies. This growth was disrupted by the coronavirus pandemic. Indeed, because of China’s resurgence, Australia saw continued expansion for more than 30 years. It is also a leading buyer of the country’s services like education and hospitality. Indeed, China buys most of Australia’s exports. Most importantly, it has a close relationship with China, the world’s biggest buyer. The wealth is also because of its close relationship with western countries like the United States and Canada. Most of Australia’s wealth comes from its great natural resources since it is one of the leading coal and iron ore providers. Its GDP per capita makes it the 15th wealthiest country in the world.

It has a total GDP of $1.4 trillion and a GDP per capita of more than $62,000. It is also one of the wealthiest countries in the world. How much do you need to start day trading in Australia?Īustralia is a relatively small country of about 25 million people.Is it possible to day trade the ASX 200?.

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