ASIC Brokers will DIE ?

Jun 10, 2019 at 21:42
3,945 Views
64 Replies
apple1st
forex_trader_275100
Member Since Sep 17, 2015   126 posts
Jun 10, 2019 at 21:42 (edited Jun 10, 2019 at 21:43)
There's a lot happening in Australia since ASIC started to collect data from the brokers since april. 2 australian brokers have already cancelled their business with oversea clients completely. Maybe more will follow in the next weeks. And there are a lot of rumors surfacing that ASIC might start to go down the route of ESMA and impose leverage restrictions
....I would wait until end of june first in order to see if ASIC starts to make the same restrictions like ESMA or not.
Member Since Feb 22, 2011   4862 posts
Jun 11, 2019 at 07:25
apple1st posted:
There's a lot happening in Australia since ASIC started to collect data from the brokers since april. 2 australian brokers have already cancelled their business with oversea clients completely. Maybe more will follow in the next weeks. And there are a lot of rumors surfacing that ASIC might start to go down the route of ESMA and impose leverage restrictions
....I would wait until end of june first in order to see if ASIC starts to make the same restrictions like ESMA or not.

Well that is horrible news for me
I rely on well regulated brokers in Australia with great trading conditions
stesens
forex_trader_525186
Member Since May 29, 2018   11 posts
Jun 11, 2019 at 07:26
can yu please mentio the 2 australian brokers have already cancelled their business with oversea clients ?
Member Since Jun 11, 2019   9 posts
Jun 11, 2019 at 10:55
This is awful news. No one can make any money from Forex if we all have to use 1:20 leverage accounts. It will ruin the industry. What news source are you using to keep trade of ASIC developments?
apple1st
forex_trader_275100
Member Since Sep 17, 2015   126 posts
Jun 11, 2019 at 16:36 (edited Jun 11, 2019 at 16:37)
will see next days at end of June...IcMarkets just canceled all my IB area with no reason....sad
To find good broker really hard today...all go to nonRegulated ...
Member Since Apr 30, 2016   10 posts
Jun 12, 2019 at 06:17
stesens posted:
can yu please mentio the 2 australian brokers have already cancelled their business with oversea clients ?
Pepperstone is one.
apple1st
forex_trader_275100
Member Since Sep 17, 2015   126 posts
Jun 12, 2019 at 10:29
Drazeer posted:
stesens posted:
can yu please mentio the 2 australian brokers have already cancelled their business with oversea clients ?
Pepperstone is one.
Nice ( just wanted to join them...
Member Since Nov 03, 2018   60 posts
Jun 12, 2019 at 11:33 (edited Jun 12, 2019 at 11:36)
apple1st posted:
will see next days at end of June...IcMarkets just canceled all my IB area with no reason....sad
To find good broker really hard today...all go to nonRegulated ...
i am with broker fx choice.
 correct broker
i trade to make money not to be right
apple1st
forex_trader_275100
Member Since Sep 17, 2015   126 posts
Jun 12, 2019 at 11:39
parish posted:
apple1st posted:
will see next days at end of June...IcMarkets just canceled all my IB area with no reason....sad
To find good broker really hard today...all go to nonRegulated ...
i am with broker fx choice.
 correct broker
i very happy that its correct for you . for us not correct ... and we discuss there restrict of leverage and canceling business of Asic Brokers outside the Australia
Member Since Nov 03, 2018   60 posts
Jun 12, 2019 at 11:43 (edited Jun 12, 2019 at 11:47)
apple1st posted:
parish posted:
apple1st posted:
will see next days at end of June...IcMarkets just canceled all my IB area with no reason....sad
To find good broker really hard today...all go to nonRegulated ...
i am with broker fx choice.
 correct broker
i very happy that its correct for you . for us not correct ... and we discuss there restrict of leverage and canceling business of Asic Brokers outside the Australia
for wat does it stands Asic ?
i am in europe
but trade with a vpn maskering ip adres en my trades info 😎
i trade to make money not to be right
apple1st
forex_trader_275100
Member Since Sep 17, 2015   126 posts
Jun 12, 2019 at 11:54
parish posted:
apple1st posted:
parish posted:
apple1st posted:
will see next days at end of June...IcMarkets just canceled all my IB area with no reason....sad
To find good broker really hard today...all go to nonRegulated ...
i am with broker fx choice.
 correct broker
i very happy that its correct for you . for us not correct ... and we discuss there restrict of leverage and canceling business of Asic Brokers outside the Australia
for wat does it stands Asic ?
i am in europe
but trade with a vpn maskering ip adres en my trades info 😎
for your pasport you can have 30 leverage. your broker FXChoise give you 1:200 max.
ASIC brokers provide 1:500 and we like it and know how to use.
apple1st
forex_trader_275100
Member Since Sep 17, 2015   126 posts
Jun 12, 2019 at 11:54
apple1st posted:
parish posted:
apple1st posted:
parish posted:
apple1st posted:
will see next days at end of June...IcMarkets just canceled all my IB area with no reason....sad
To find good broker really hard today...all go to nonRegulated ...
i am with broker fx choice.
 correct broker
i very happy that its correct for you . for us not correct ... and we discuss there restrict of leverage and canceling business of Asic Brokers outside the Australia
for wat does it stands Asic ?
i am in europe
but trade with a vpn maskering ip adres en my trades info 😎
for your pasport you can have 30 leverage max officially, because you from Eur. your broker FXChoise give you 1:200 max.
ASIC brokers provide 1:500 and we like it and know how to use.
Member Since Nov 03, 2018   60 posts
Jun 12, 2019 at 11:56
apple1st posted:
parish posted:
apple1st posted:
parish posted:
apple1st posted:
will see next days at end of June...IcMarkets just canceled all my IB area with no reason....sad
To find good broker really hard today...all go to nonRegulated ...
i am with broker fx choice.
 correct broker
i very happy that its correct for you . for us not correct ... and we discuss there restrict of leverage and canceling business of Asic Brokers outside the Australia
for wat does it stands Asic ?
i am in europe
but trade with a vpn maskering ip adres en my trades info 😎
for your pasport you can have 30 leverage. your broker FXChoise give you 1:200 max.
ASIC brokers provide 1:500 and we like it and know how to use.
ok did not know that .
i trade to make money not to be right
Member Since Nov 08, 2018   12 posts
Jun 12, 2019 at 12:46
apple1st posted:
will see next days at end of June...IcMarkets just canceled all my IB area with no reason....sad
To find good broker really hard today...all go to nonRegulated ...

If this drives everyone to unregulated brokers then it will be a disaster for many traders. It will turn Forex into the wild west. There are finally a group of good regulated brokers but these leverage restrictions will now push beginners into the hands of scam brokers
stesens
forex_trader_525186
Member Since May 29, 2018   11 posts
Jun 12, 2019 at 12:47
apple1st posted:
2 australian brokers have already cancelled their business with oversea clients completely. .

What does this mean really? I am with Pepperstone
apple1st
forex_trader_275100
Member Since Sep 17, 2015   126 posts
Jun 12, 2019 at 16:36
stesens posted:
apple1st posted:
2 australian brokers have already cancelled their business with oversea clients completely. .

What does this mean really? I am with Pepperstone
ask pepperston
apple1st
forex_trader_275100
Member Since Sep 17, 2015   126 posts
Jun 12, 2019 at 16:36
ChillBro posted:
apple1st posted:
will see next days at end of June...IcMarkets just canceled all my IB area with no reason....sad
To find good broker really hard today...all go to nonRegulated ...

If this drives everyone to unregulated brokers then it will be a disaster for many traders. It will turn Forex into the wild west. There are finally a group of good regulated brokers but these leverage restrictions will now push beginners into the hands of scam brokers
i think we all go to nonregulated brokers and they will do with us whatever they want
Member Since Jun 06, 2019   11 posts
Jun 13, 2019 at 10:34
Making a deposit with a nonregulated broker is like transferring your money to a complete stranger in a different country. No hope of getting that back even if you ask really nicely!
Member Since May 16, 2019   8 posts
Jun 14, 2019 at 06:03
Well.. this is not exactly true. I am from EU and Im registered with IC Markets for a few months.. I did not notice any negative changes. All works like usual. Ans I had a conversation with IC Markets agent today who confirmed my words. Read on our conversation below:


Mario 19:14
Hello Mark. How may I help you?
Mark 19:16
Hi there
Mario 19:16
hi
Mark 19:17
I would like to know more about the disputes between ASIC regulator and IC Markets. I know that they have requested you to stop providing services for EU customers... etc
Please provide as much info as possible on this
Mario 19:18
' You’ll be able to continue trading with IC Markets or within the IC Markets group of companies. IC Markets is licensed in Australia, Europe and several offshore jurisdictions.
Your experience will be the same and you’ll be able to enjoy the same trading conditions, deposit and withdraw options, customer service, leverage and so on.'
Mark 19:21
Nice to hear. Could you comment the official IC Markets position on that ASIC request made to all brokers this April.
Mario 19:21
'IC Markets is aware of the media release from ASIC concerning Chinese and European nationals trading with ASIC regulated brokers. IC Markets (Australia) does not provide financial services from China or Europe. IC Markets (Australia) operates and provides financial services from Australia only. The IC Markets group is licensed in Australia, Europe and several offshore jurisdictions to conduct financial services and does not operate in jurisdictions where we are not regulated.

IC Markets will comply with any measures introduced by ASIC. At this stage, ASIC has not issued a directive or notice to IC Markets in relation to the media release.

For the existing and new clients, should there be any changes in the near future, we'll be sure to keep them all updated.'
Mark 19:24
Ok, thank you. Just to confirm that I am from UK and I can stay confident within IC Markets, and all services you provide including a high leverage of 200+ will continue to be provided as before?
Mario 19:24
yes
Mark 19:28
..................................................................................
Member Since Nov 17, 2012   348 posts
Jun 14, 2019 at 06:06
guyz listen to me ...dont ever worry about forex brokers .. why ?becoz in 2007/2008 when world economy crashed , world some biggest brokers which are symbol for world of forex .. all collapsed/disaster ..and people cried for money for years

after that iron fx regulated broker by 4-5 wings run away .. what happened nothing ?

Remember when CHF destroyed all world with more than 3000 pips in one candle with in few mints .. how much brokers crashed ??? and people lost money and some then still failed to recover their money ..

now tell me any broker which is non regulated and run away ? name ? 2nd why they should run ? becoz forex brokers are 100 % in profit , world best profitable business .. so no need to run

and one more thing this is not new ..these kind of things always happen with liquidity provides and forex brokers and retail traders.. and they sort out it easily ...

and last answer of leverage .. oanda is MM broker and max leverage is 1:50 .. and one of the world largest broker with clients and funds
so dont worry ..

one more thing if ASIC will stop this any other country or firm will start this why ? becoz this is pure 100 % profitable business for liquidity providers, regularity authorities and for forex brokers , so they will never let down this business :)
skype id millennium.analyst
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