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ASIC regulation
MattKoola

Member Since Jul 05, 2017  4 posts MattKoola Nov 28 2019 at 12:12
I read somewhere that ASIC protests only Aussie funds. If an Australian (forex) broker becomes insolvent how does ASIC regulations make sure foreign client gets their deposits?

mattkoola@
Laige

Member Since May 11, 2019  20 posts Laige Jan 22 at 18:04
Very interesting point, how to work with all that matter anyway. Do you have any solution for that matter or not? I do not clearly see it coming for whatever reason being done. I am scary to deal with Forex people anyway from Australia.

gargely653536

Member Since Feb 21, 2020  5 posts gargely653536 Feb 26 at 13:19
MattKoola posted:
I read somewhere that ASIC protests only Aussie funds. If an Australian (forex) broker becomes insolvent how does ASIC regulations make sure foreign client gets their deposits?

Ekvador

Member Since Jul 16, 2014  11 posts Ekvador Feb 28 at 08:07
you need to visit the official website of ASIC.

saturdayresearch

Member Since Nov 25, 2019  9 posts saturdayresearch Feb 28 at 10:50
I read this is the case but at least there is good regulation

Ekvador

Member Since Jul 16, 2014  11 posts Ekvador Feb 28 at 10:52
Now top regulations FCA and ASIC .

AniLorak

Member Since Apr 18, 2017  864 posts AniLorak Feb 29 at 08:11
MattKoola posted:
I read somewhere that ASIC protests only Aussie funds. If an Australian (forex) broker becomes insolvent how does ASIC regulations make sure foreign client gets their deposits?


Maybe it’s true; because I also heard the same info by many sources!

Trallod

Member Since Oct 30, 2019  18 posts Trallod Jun 21 at 14:31
If a brokerage company has regulation, then it's fine. Because usually the regulator provides insurance of certain amounts in case traders lose money through the fault of the brokerage company. The only limitation is that they do not compensate very large amounts, but in the range of 10-20 thousand dollars they usually do.

marco_mmbiz

Member Since Jul 20, 2019  203 posts marco_mmbiz Jun 29 at 15:10
MattKoola posted:
I read somewhere that ASIC protests only Aussie funds. If an Australian (forex) broker becomes insolvent how does ASIC regulations make sure foreign client gets their deposits?


As an 'offshore trader' you're not allowed to use ASIC-regulated brokers anymore (since January 2020).
If there's any broker out there who's still offering his ASIC-regulated forex services to offshore-clients, then just stay away.
Always look for a regulation that is still allowed in your area (like NFA for USA; Cysec/FCA/BaFin/ICB/FinMa ... for Europe, ASIC for Australia, FCA for UK, IFSC for all other offshore traders).

patience is the key
LyudmilLukanov

Member Since Jul 23, 2020  43 posts LyudmilLukanov Sep 18 at 15:09
You can make a complaint in writing or by phone through ASIC official website. You also find a video tutorial in their website regarding how to complain.

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