ASIC CFD Trading Restrictions in Effect

The Australian regulator decided to increase its protection for retail customers after realizing that CFD trading could lead to significant losses for retail customers. ASIC Commissioner Cathie Armor noted: Cathie Armor Source: LinkedIn We will closely monitor product response order compliance and will not hesitate to take appropriate action to execute the order. . Commissioner Armor added: We are also closely monitoring changes in the financial assets of retail customers reported by CFD providers and the misclassification of retail customers as wholesale customers, which could put them at risk of denied significant rights and protections. Protecting retail investors from harm is a priority for ASIC, especially at a time of heightened vulnerability. The order also allows retail customers to compensate for losses incurred as a result of the violation of a product response order. The intervention order has been in effect for 18 months. After this period, it can be extended or made permanent. Read more: ASIC Implements Ten-Year Ban for Forex Director CT ASIC Releases Additional Licensing Terms for AxiCorp ASIC Launches Market Tampering and Insider Trading Immunity Policy Trade Restrictions Post CFD ASICs first appeared on LeapRate. Read more

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