FYI.........'scaremongering' is a verb not a noun so it cannot be 'name calling' as you said.
Either way, it's still extremely childish behavior on your part, of which I asked you to please refrain from.
You made this comment 'Pretty much all scenarios would indicate you are out of luck and your money is gone.'
I do not believe this is the case. What proof or inside information do you have that his 'money is gone'?........absolutely none.
Yes I posted these exact words:
Pretty much all scenarios would indicate you are out of luck and your money is gone.
I have well over 35 years of actual experience, and historically the outcome from situations where there has been mismanagement of funds and a brokerage loses it's license due to it, it is extremely difficult for clients to get back money which is owed to them. Getting their funds back could take years to accomplish, and that's only if there are enough recovered assets available.
My years with of dealing with Australian brokers has included a good understanding of the security of client funds as required by ASIC.
Then you should already know, without me having to explain it to you, that while it's obvious that those regulations exist, there is simply no absolute guarantee that the brokerage has followed the rule of law and chosen to abide by those regulations, nor is there any guarantee that the brokerage provided for a segregation of client funds as required in order to protect said funds.
Clearly they didn't abide by the regulations as set forth, because they lost their license, and they've had their assets and accounts frozen.
Yes, I had an IB agreement with Berndale in their early days which I terminated as I was not happy with the trading conditions offered.
Cool.......go (try) negotiate a few deals and let me know how you go ;)
Seriously? Anyone with reasonable experience as appropriate to the markets can become an IB, it's not some secret thing, and it's not that hard to do. It can be an enormous amount of work, but becoming one is not that difficult.
Regardless though, it's also off topic..
The question was:
'Can anyone advise on how to get one's money back from this broker?'
The answer remains the same, they need to contact the regulatory agencies and hire an attorney.
If it looks too good to be true, it's probably a scam! Let the buyer beware.