ASIC (Australian Securities and Investment Commission) is the regulatory body in Australia, since 2006 that reviews and issues all Forex licenses. In order to get authorized by ASIC you have to conform to several prerequisites like fitting and proper testing as well as prove your financial standing.
Documents for obtaining an Australia Forex License
- Business Description; an overview of your financial services business
- People Proofs for each responsible manager; (Statement of Personal Information, copies of qualification certificates; copy of a bankruptcy check; copy of a national criminal history check and copies of two business references.
- Organizational Competence—this includes a Table of Organizational Competence and, if relevant, a Submission on a Responsible Manager’s Competence; and
- Financial Statements and Financial Resources
- Risk-management processes.
- Compliance procedure manual
In some case you might be asked to send additional proof documents in order for the ASIC to complete the assessment of your application.
The process of obtaining a license in Australia typically takes a year on average