Australia's ASIC? Basically the FCA, just with a few local quirks. I've been trading with ASIC-regulated brokers for years — honestly, it's a love-hate thing. Mostly love, though.
Gold Leverage: 1:20 (Same as the UK)
ASIC lumps gold in with minor currency pairs. Retail clients get capped at 1:20. That rule came in March 2021 under the CFD Product Intervention Order, and they extended it through at least 2030 back in May 2025. So it's not going anywhere.
Here's the full retail leverage breakdown — take a look:
- Major forex pairs: 1:30
- Gold and minor forex pairs: 1:20
- Other commodities: 1:10
- Shares and major indices: 1:5
- Crypto assets: 1:2
What I find interesting — actually no, let me rephrase — ASIC explicitly separates gold from everything else. Copper, wheat, oil all get 1:10. Gold gets 1:20. It's about time regulators recognized that XAUUSD behaves more like a currency pair than a commodity. I've been saying that for years. No joke.
Negative Balance Protection and Segregated Funds
Both are mandatory. Your money sits in trust accounts with Australian ADIs. If you're trading gold through an ASIC broker, your capital is legally walled off from their operating cash. That's a big deal.
Try getting that from a broker in SVG or Vanuatu. You won't. It's why I tell Australian traders to stick with ASIC-regulated brokers. Every time.
The Design and Distribution Obligations (DDO)
This is where ASIC got noticeably tougher. January 2026 — they slapped FXCM Australia with a temporary stop order for breaching DDO rules. Specifically for marketing high-leverage CFDs to people who had no business touching them. Like, none.
ASIC didn't mince words. Their statement basically said: high leverage + extreme volatility + limited liquidity + rapid price moves = CFDs are borderline unsuitable for anyone with a moderate risk profile. Hard to argue with that. Gold is volatile enough without maxing out leverage. If a broker pitches gold CFDs as a "get rich quick" scheme, run. Just run.
AFCA Dispute Resolution
Got a problem with an ASIC-regulated broker? Take it to the Australian Financial Complaints Authority. For free. No offshore broker offers that. I've used dispute resolution services twice in my career. Having that safety net matters when things go sideways. Trust me.
What ASIC Does NOT Regulate
Here's the catch — those leverage caps and protections only apply to accounts held under an ASIC-licensed entity. A lot of international brokers flash "ASIC regulation" like a badge but run multiple entities. Your account might end up under their Seychelles or Vanuatu arm instead. Happens all the time.
Always check which entity actually holds your account before depositing. That ASIC license number on their website means nothing if your money's sitting in an offshore entity. Nothing.