ASIC Brokers will DIE ?
forex_trader_275100
Member Since Sep 17, 2015
126 posts
Jun 14, 2019 at 08:29
marklite posted:
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
..................................................................................
bro key word there : For the existing and new clients, should there be any changes in the near future, we'll be sure to keep them all updated.'
They will email you like me and tell you : we will cancel all your IB area in 14 days ))
wait till end of June...
Jun 16, 2019 at 06:59
apple1st posted:marklite posted:
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
..................................................................................
bro key word there : For the existing and new clients, should there be any changes in the near future, we'll be sure to keep them all updated.'
They will email you like me and tell you : we will cancel all your IB area in 14 days ))
wait till end of June...
IB Area has nothing to do with trading on IC Markets. If your affiliate account got suspended you should check it with broker, and not spread rumours.
Member Since Jun 14, 2019
10 posts
Jun 16, 2019 at 07:05
Cancel IB area won't affect me but leverage limits will. I can't make money with tiny leverage. I will probably move to stock trading as the price movements are larger
forex_trader_275100
Member Since Sep 17, 2015
126 posts
Jun 16, 2019 at 14:00
(edited Jun 16, 2019 at 14:02)
marklite posted:Repeat last time - they send me mail that they will cancel in 14 days with no reason my IB .apple1st posted:marklite posted:
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
..................................................................................
bro key word there : For the existing and new clients, should there be any changes in the near future, we'll be sure to keep them all updated.'
They will email you like me and tell you : we will cancel all your IB area in 14 days ))
wait till end of June...
IB Area has nothing to do with trading on IC Markets. If your affiliate account got suspended you should check it with broker, and not spread rumours.
Reason will see at end of June from setricted leverage of this Brokers and to trade at such companies will be able only australian people with ASIC license that cost lots of money(i mean with services like Funds management)
its really much easier to go some Stock market.
Binary killed last year
This year forex will be killed in all Europe (i am talking about good regulated brokers... not kitchens like Instaforex or etc)
Jun 18, 2019 at 05:59
Why do you select brokers from Australia being not from Australia or New Zealand for example. What they have that you cannot really collect in all other places for example. Please do really let me know all this things literally. It's a matter of time.
delesh4889@
Member Since Dec 18, 2018
47 posts
Jun 18, 2019 at 06:00
Generous posted:
Regulated ASIC brokers will not die. However, there is a high chance that they will reduce the leverage offered to retail clients (overseas and within Australia). At some point in time, they will follow the ESMA.
The appropriate answer, just like it.
Jun 18, 2019 at 16:05
Drolph posted:GermanyFX posted:
Just confirmed with IC market, and nothing is going to change for any clients.
especially Australian clients
Confirmed what?
About the leverage deduction, nothing is going to change as far as leverage is concern
Amplifying Returns: Your Winning Formula
Jun 19, 2019 at 05:34
Global Prime
As many of you may be aware, Australian brokers recently received notice from ASIC regarding the legality of offering services to clients from offshore jurisdictions.
As a global business with clients from many countries, we are now required to obtain advice from a number of foreign jurisdictions on whether we are authorised to accept clients from these countries.
Because it is not practical to get these advices before the time we are required to report back to ASIC (30 June 2019), we believe it would be prudent to transfer accounts from certain jurisdictions to our associate company, Gleneagle Securities Pty Ltd trading as Global Prime FX, by 28 June 2019.
As many of you may be aware, Australian brokers recently received notice from ASIC regarding the legality of offering services to clients from offshore jurisdictions.
As a global business with clients from many countries, we are now required to obtain advice from a number of foreign jurisdictions on whether we are authorised to accept clients from these countries.
Because it is not practical to get these advices before the time we are required to report back to ASIC (30 June 2019), we believe it would be prudent to transfer accounts from certain jurisdictions to our associate company, Gleneagle Securities Pty Ltd trading as Global Prime FX, by 28 June 2019.
forex_trader_525186
Member Since May 29, 2018
11 posts
Jun 19, 2019 at 05:36
and just spoken with Pepperstone. Same. Nothing will chinage (for now). Australia is still an island of leverage. Godd place to make (or lose) money....
Jun 19, 2019 at 14:02
AxiTrader
Due to recent Australian regulatory announcements AxiCorp has decided to cease servicing clients who are resident outside of Australia and New Zealand on 30 June 2019.
To minimise the impact to clients, AxiCorp has arranged for AxiTrader Limited to take over the provision of financial services. AxiTrader is 100% owned by AxiCorp, is incorporated in Saint Vincent and the Grenadines (number 25417 BC 2019) and registered by the Financial Services Authority of Saint Vincent and the Grenadine
Due to recent Australian regulatory announcements AxiCorp has decided to cease servicing clients who are resident outside of Australia and New Zealand on 30 June 2019.
To minimise the impact to clients, AxiCorp has arranged for AxiTrader Limited to take over the provision of financial services. AxiTrader is 100% owned by AxiCorp, is incorporated in Saint Vincent and the Grenadines (number 25417 BC 2019) and registered by the Financial Services Authority of Saint Vincent and the Grenadine
Jun 20, 2019 at 06:15
A change will occur (nobody knows what yet): https://www.financemagnates.com/forex/brokers/asic-enforcement-of-product-intervention-could-take-up-to-2-years/
Member Since Jun 14, 2019
10 posts
Jun 20, 2019 at 10:38
I guess a change was too be expected. Regulators are always trying to look like they are doing something useful even if this destroys a whole industry and makes things worse for consumers
Jun 20, 2019 at 13:36
Even if ASIC decided to restrict AU Brokers or will try to enforce some kind of heavy downgrades, unlike the Puffy European Brokers Australians will stand their grounds. Also for any such heavy implementations it will take years to fully integrate them. The ESMA implementations still did not complete btw.
https://www.tradersbible.com/news/forex/australian-brokers-fighting-back-against-asic-demands
https://www.tradersbible.com/news/forex/australian-brokers-fighting-back-against-asic-demands
Brokers Take Legal Action:
This recent action is not something that Aussie brokers are willing to comply with. They have decided to fight back in the courts. Rumours have surfaced that the brokers are going after high-level legal advice. Many brokers think that the action taken by ASIC is illegal and needs to countered.
