Similar to its European counterparts, Australian forex brokers have seen regulations tightened as of late. This has resulted in restrictions on leverage, mandatory protection against negative balances, and bans on various bonuses and promotions, bringing trading conditions in Australia in line with those common in Europe.
The tightening of regulations that occurred in 2021 came after Australia for years has been a popular jurisdiction for both forex brokers and traders from around the world thanks to the much higher leverage that was available there. And although Australian forex brokers still accept traders from around the world, there are now fewer reasons for these foreign traders to choose an Australian broker regulated by the financial regulator ASIC.