Australia quickly becoming a major Forex hub.
Leading European Forex brokerage Saxo Bank has become the latest Forex firm to receive ASIC regulation, and open a retail office in Sydney, Australia. We recently reported that other leading Forex firms such as AvaFX and FxPro have also made similar moves.
Australia is quickly becoming a major hub in the Far East for the world's leading Forex brokerage firms, as trading volumes quickly migrate toward Asia, and as these firms anticipate the eventual opening of the Chinese market - potentially the world's largest. In the meantime, Australia is a nice-sized market itself, with less stringent regulation on Forex brokers than other regional centers such as Indonesia or Singapore.
For the full Saxo Bank press release click here.