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ASIC regulation
Anggota Sejak Nov 25, 2019
9 pos
Jun 21, 2020 at 14:31
Anggota Sejak Oct 30, 2019
24 pos
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.
Anggota Sejak Jul 20, 2019
373 pos
Jun 29, 2020 at 15:10
Anggota Sejak Jul 20, 2019
373 pos
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
Anggota Sejak Jul 23, 2020
869 pos
Anggota Sejak Jul 20, 2019
373 pos
Nov 25, 2020 at 10:00
Anggota Sejak Jul 20, 2019
373 pos
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?
Since January 2020 ASIC/AFC regulated brokers are NOT allowed to onboard foreign clients anymore. Such brokers need to give you an account in your regulated territory then (like ESMA/Cysec for the whole EU, CTFC/NFA for USA, IFSC for offshore, FCA for UK, or similar).
patience is the key
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