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  • Australia goes after forex brokers

    Be interesting to see if brokers like IC Markets and Synergy will get slapped at all cause Pepperstone was. http://www.smh.com.au/business/asic-...13-115d26.html

  • #2
    Anyone else surprised at the suggestion that Aussie brokers are actually some of the least secure in the world?

    Curious to hear people's thoughts on the article below. The implications for reduced leverage and unquarantined client funds is very significant.

    http://www.afr.com/markets/turnbull-...0160104-glzdcv

    Comment


    • #3
      Originally posted by simonb View Post
      Anyone else surprised at the suggestion that Aussie brokers are actually some of the least secure in the world?

      Curious to hear people's thoughts on the article below. The implications for reduced leverage and unquarantined client funds is very significant.

      http://www.afr.com/markets/turnbull-...0160104-glzdcv
      Interesting article Simon. You're correct in thinking that ASIC regulation isn't an absolute safeguard. There are a handful of regulated brokers that I wouldn't touch due to my own experience and stories that I've heard from being in the industry for as long as I have.

      I don't personally have any concerns around the guys we work with being Axi, IC and Global Prime having met the CEO's of each brokerage multiple times over the years.

      Should regulators reduce leverage as I expect over the next few years, it won't effect what we're doing here. Most of our traders are using leverage well below 20:1 most of the time.
      Intensive one-on-one trading mentorships with
      Andrew Lockwood, Mark Bennell or Joel Kruger available now.


      Click here to learn more

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      • #4
        Thanks for sharing your thoughts Nick. I was under the impression that fund segregation was already mandated by law, so it was interesting to learn otherwise. I'm comfortable that Axi and co operate responsibly, but my trust is never absolute.

        Comment


        • #5
          Originally posted by Nick View Post
          Interesting article Simon. You're correct in thinking that ASIC regulation isn't an absolute safeguard. There are a handful of regulated brokers that I wouldn't touch due to my own experience and stories that I've heard from being in the industry for as long as I have.

          I don't personally have any concerns around the guys we work with being Axi, IC and Global Prime having met the CEO's of each brokerage multiple times over the years.

          Should regulators reduce leverage as I expect over the next few years, it won't effect what we're doing here. Most of our traders are using leverage well below 20:1 most of the time.
          Are you still working with Ruzien and Mt. Cook?

          Comment


          • #6
            Originally posted by Big River Man View Post
            Are you still working with Ruzien and Mt. Cook?
            Yeah, still trading with both, more so with Mt Cook.
            Intensive one-on-one trading mentorships with
            Andrew Lockwood, Mark Bennell or Joel Kruger available now.


            Click here to learn more

            Comment


            • #7
              Originally posted by Big River Man View Post
              Are you still working with Ruzien and Mt. Cook?
              Yeah, still trading with both, more so with Mt Cook.
              Intensive one-on-one trading mentorships with
              Andrew Lockwood, Mark Bennell or Joel Kruger available now.


              Click here to learn more

              Comment


              • #8
                Originally posted by Nick View Post
                Yeah, still trading with both, more so with Mt Cook.
                Is there something wrong with your mouse button all your replies today have been duplicated....unless it's Tapatalk

                Comment


                • #9
                  Originally posted by Big River Man View Post
                  Is there something wrong with your mouse button all your replies today have been duplicated....unless it's Tapatalk
                  Daniel just put a fix in place, let's see if it worked.
                  Intensive one-on-one trading mentorships with
                  Andrew Lockwood, Mark Bennell or Joel Kruger available now.


                  Click here to learn more

                  Comment

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