Australia goes after forex brokers

[Nick]

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.

[Big River Man]

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

[Nick]

Are you still working with Ruzien and Mt. Cook?

Yeah, still trading with both, more so with Mt Cook.

[Nick]

Are you still working with Ruzien and Mt. Cook?

Yeah, still trading with both, more so with Mt Cook.

[Big River Man]

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?

[simonb]

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.

[Nick]

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.

[simonb]

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-government-should-not-be-swayed-by-online-forex-cowboys-20160104-glzdcv

[nemo100]

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