@ arkhe:
As far as I know, ASIC Australia is a credible regulator, so its terms should be almost the same as other credible regulators (CFTC, NFA, FCA etc.).
The UK's Financial Services Authority (FSA) has been renamed the Financial Conduct Authority (FCA).
Well-known ASIC-regulated brokers include: FXCM and Forex.com. For a discussion of the best brokers in Australia you can read it here.
Australian brokers with tight spreads include IC Markets and Pepperstone. For a complete list, see a list of regulated Australian brokers with low spreads.
ASIC guarantees the credibility of brokers and conducts periodic checks. Regarding the guarantee of client funds' security in the event of bankruptcy or a macro shock, each ASIC broker has a different policy.
Is Liteforex an Australian broker?
To Rita,
Lite Forex Broker does not originate from Australia, but from the Marshall Islands. More specifically, this broker is headquartered at Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. For more detailed information about this broker, please read its profile here.
Hopefully this helps.