ASIC Brokers will DIE ?
Member Since Feb 22, 2011
4862 posts
Jun 21, 2019 at 11:06
In light of recent regulatory developments within Australia, International Capital Markets Pty Ltd (IC Markets AU), AFSL 335692, cannot guarantee that it will be able to provide its services to clients residing outside of Australia (“Overseas Clients”) and therefore, has decided that it will cease providing services to its Overseas Clients on 30 June 2019 (Effective Date).
Oh shit!
Oh shit!
forex_trader_275100
Member Since Sep 17, 2015
126 posts
Jun 21, 2019 at 11:09
Dear Client,
In light of recent regulatory developments within Australia, International Capital Markets Pty Ltd (IC Markets AU), AFSL 335692, cannot guarantee that it will be able to provide its services to clients residing outside of Australia (“Overseas Clients”) and therefore, has decided that it will cease providing services to its Overseas Clients on 30 June 2019 (Effective Date).
To minimise the impact on you as a client of our ASIC regulated company, IC Markets AU, we have arranged for IC Markets (SC) to provide financial services to you pursuant to clause 29.6 of the IC Markets AU Account Terms. IC Markets (SC) is the registered business name of True ECN Trading Ltd (regulated under Financial Services Authority of Seychelles, Securities Dealer Licence number: SD018). IC Markets (SC) is a related entity of IC Markets AU.
To make the transition smoother we have automated the migration process, it is completely seamless and will not affect your account balance, existing orders, open positions, trading history and client area login. Post-migration you will be able to continue trading as usual.
What options do I have?
Option 1:
Transfer your account, open positions and client money to IC Markets (SC) on the effective date.
What do I need to do?
No further action is required from you
By continuing to trade on your account after the 30th of June 2019 (effective date) you consent for your account details, account balance, existing orders, open positions, trading history and client area login to be transferred from IC Markets AU to IC Markets (SC) and you will be able to continue trading as a client of IC Markets (SC) with the same trading conditions going forward just as you were with IC Markets AU in the past.
Important Notice: The financial services laws of Seychelles do not provide the same protection as Australian law. Under Australian law, ASIC has the power to regulate IC Markets AU conduct and the power to protect consumers (like you) against misleading, deceptive and unconscionable conduct relating to the provision of financial products and services by IC Markets AU to you. The Australian Financial Complaints Authority has the power to externally and independently resolve complaints about the products and services IC Markets AU has provided to you. If you transfer to IC Markets (SC) you will lose all these protections.
Under the laws of Seychelles, True ECN Trading Ltd is regulated under Financial Services Authority of Seychelles, (Securities Dealer Licence number: SD018). IC Markets (SC) is the trading name of True ECN Trading Ltd. IC Markets (SC) will keep offering its products and services in line with its terms and conditions which are substantially the same as those of IC Markets AU. This includes the provision to segregate client money and hold it on trust. IC Markets (SC) holds client money with AA-rated banking institutions in Australia regulated by the Australian Prudential Regulation Authority (APRA). IC Markets (SC) will also continue to handle complaints in accordance with its well-established internal dispute resolution procedures which are similar to IC Markets AU.
For more information please refer to the IC Markets (SC) Account Terms
Option 2:
Maintain your account with IC Markets AU
What do I need to do?
If you choose not to migrate you will need to opt out of the migration process, you can do so by clicking on the button below and completing the form. IC Markets AU cannot guarantee that you will be able to continue trading on your account after 30 June 2019. Furthermore, we cannot guarantee that we will be able to continue to offer certain features of your account such as your current leverage.
We will also need to open a new account for you so that we can properly manage any changes that may occur in the future (e.g. leverage), this will mean that you will lose your account history.
IC Markets AU will provide you with notification should we be unable to continue trading with you under our Australian Financial Services Licence after the 30 June 2019.
In light of recent regulatory developments within Australia, International Capital Markets Pty Ltd (IC Markets AU), AFSL 335692, cannot guarantee that it will be able to provide its services to clients residing outside of Australia (“Overseas Clients”) and therefore, has decided that it will cease providing services to its Overseas Clients on 30 June 2019 (Effective Date).
To minimise the impact on you as a client of our ASIC regulated company, IC Markets AU, we have arranged for IC Markets (SC) to provide financial services to you pursuant to clause 29.6 of the IC Markets AU Account Terms. IC Markets (SC) is the registered business name of True ECN Trading Ltd (regulated under Financial Services Authority of Seychelles, Securities Dealer Licence number: SD018). IC Markets (SC) is a related entity of IC Markets AU.
To make the transition smoother we have automated the migration process, it is completely seamless and will not affect your account balance, existing orders, open positions, trading history and client area login. Post-migration you will be able to continue trading as usual.
What options do I have?
Option 1:
Transfer your account, open positions and client money to IC Markets (SC) on the effective date.
What do I need to do?
No further action is required from you
By continuing to trade on your account after the 30th of June 2019 (effective date) you consent for your account details, account balance, existing orders, open positions, trading history and client area login to be transferred from IC Markets AU to IC Markets (SC) and you will be able to continue trading as a client of IC Markets (SC) with the same trading conditions going forward just as you were with IC Markets AU in the past.
Important Notice: The financial services laws of Seychelles do not provide the same protection as Australian law. Under Australian law, ASIC has the power to regulate IC Markets AU conduct and the power to protect consumers (like you) against misleading, deceptive and unconscionable conduct relating to the provision of financial products and services by IC Markets AU to you. The Australian Financial Complaints Authority has the power to externally and independently resolve complaints about the products and services IC Markets AU has provided to you. If you transfer to IC Markets (SC) you will lose all these protections.
Under the laws of Seychelles, True ECN Trading Ltd is regulated under Financial Services Authority of Seychelles, (Securities Dealer Licence number: SD018). IC Markets (SC) is the trading name of True ECN Trading Ltd. IC Markets (SC) will keep offering its products and services in line with its terms and conditions which are substantially the same as those of IC Markets AU. This includes the provision to segregate client money and hold it on trust. IC Markets (SC) holds client money with AA-rated banking institutions in Australia regulated by the Australian Prudential Regulation Authority (APRA). IC Markets (SC) will also continue to handle complaints in accordance with its well-established internal dispute resolution procedures which are similar to IC Markets AU.
For more information please refer to the IC Markets (SC) Account Terms
Option 2:
Maintain your account with IC Markets AU
What do I need to do?
If you choose not to migrate you will need to opt out of the migration process, you can do so by clicking on the button below and completing the form. IC Markets AU cannot guarantee that you will be able to continue trading on your account after 30 June 2019. Furthermore, we cannot guarantee that we will be able to continue to offer certain features of your account such as your current leverage.
We will also need to open a new account for you so that we can properly manage any changes that may occur in the future (e.g. leverage), this will mean that you will lose your account history.
IC Markets AU will provide you with notification should we be unable to continue trading with you under our Australian Financial Services Licence after the 30 June 2019.
Jun 21, 2019 at 17:37
togr posted:
In light of recent regulatory developments within Australia, International Capital Markets Pty Ltd (IC Markets AU), AFSL 335692, cannot guarantee that it will be able to provide its services to clients residing outside of Australia (“Overseas Clients”) and therefore, has decided that it will cease providing services to its Overseas Clients on 30 June 2019 (Effective Date).
Oh shit!
You forgot to quote, that you have TWO options. Move to SC or opt for the possibility to stay in Australia until a final date/decision is made from ASIC.
Jun 23, 2019 at 05:31
The Australian government has recently given 'teeth' to ASIC to tighten Australian brokerages (brokering services provided to overseas and local clients). I'm not surprised this is happening. I also have a feeling introducing brokers in the distance future (around the world) will be banned.
forex_trader_275100
Member Since Sep 17, 2015
126 posts
Jun 23, 2019 at 05:56
Drolph posted:togr posted:
In light of recent regulatory developments within Australia, International Capital Markets Pty Ltd (IC Markets AU), AFSL 335692, cannot guarantee that it will be able to provide its services to clients residing outside of Australia (“Overseas Clients”) and therefore, has decided that it will cease providing services to its Overseas Clients on 30 June 2019 (Effective Date).
Oh shit!
You forgot to quote, that you have TWO options. Move to SC or opt for the possibility to stay in Australia until a final date/decision is made from ASIC.
read this one more time : If you transfer to IC Markets (SC) you will lose all these protections.
Regulated broker push you to Scam non regulated Office
Member Since Mar 22, 2016
44 posts
Jun 23, 2019 at 06:05
(sorry if my language didnt perfect)
about 1 month ago, i am make new account as new client with broker vantagefx (sorry-red) under ASIC, but 2 weeks ago have notivication my account migrate to other offshore regulate, they tell except client australia will migrate to offshore regalate
event we dont know the truth... event i have a proff about this broker have plugin cheat my position (SL hunter not touch), very sad to see this, when we want to report this to ASIC, we can't because my acc under offshore, and you know like whats offshore handling client when broker have problem like this
until this problem, we dont trust again broker listing ASIC (much proff from me to share) and we migrate back again with regulate FCA UK, MiFId, or NFA US
hope ASIC can be consist to manage politic the truth their broker, same like cysec regulate didnt consist to handle their client when their broker have a problem/collaps
about 1 month ago, i am make new account as new client with broker vantagefx (sorry-red) under ASIC, but 2 weeks ago have notivication my account migrate to other offshore regulate, they tell except client australia will migrate to offshore regalate
event we dont know the truth... event i have a proff about this broker have plugin cheat my position (SL hunter not touch), very sad to see this, when we want to report this to ASIC, we can't because my acc under offshore, and you know like whats offshore handling client when broker have problem like this
until this problem, we dont trust again broker listing ASIC (much proff from me to share) and we migrate back again with regulate FCA UK, MiFId, or NFA US
hope ASIC can be consist to manage politic the truth their broker, same like cysec regulate didnt consist to handle their client when their broker have a problem/collaps
Founder of Number 1 Ninja Forex Strategy in The World -
forex_trader_275100
Member Since Sep 17, 2015
126 posts
Jun 24, 2019 at 06:06
looks like ALL ASIC Brokers not available for people OUTSIDE AU
Only one thing disappoint me - i worked as IB for 5 years for this broker and now they easy canceled all income....
Only one thing disappoint me - i worked as IB for 5 years for this broker and now they easy canceled all income....
forex_trader_275100
Member Since Sep 17, 2015
126 posts
Jun 24, 2019 at 11:35
AniLorak posted:
Yes, it’s very rare (ASIC broker – available outside AU traders).
Oh that’s really pathetic; sorry to hear!
its not last broker in our life guys ) lets go kill other brokers haha
Member Since Aug 27, 2017
994 posts
Jun 25, 2019 at 05:31
apple1st posted:AniLorak posted:
Yes, it’s very rare (ASIC broker – available outside AU traders).
Oh that’s really pathetic; sorry to hear!
its not last broker in our life guys ) lets go kill other brokers haha
Yes, that’s the point! Till now there have enough options! But we should careful on the broker issue!
keeping patience.......
Jun 25, 2019 at 06:01
apple1st posted:Are you saying that you didn't withdraw your income for 5 years ?
looks like ALL ASIC Brokers not available for people OUTSIDE AU
Only one thing disappoint me - i worked as IB for 5 years for this broker and now they easy canceled all income....
Member Since Mar 22, 2016
44 posts
Jun 25, 2019 at 06:04
Another information about ASIC have been update, you can read this information
https://memberforex.com/asic-regulate-update-rule-now/
https://memberforex.com/asic-regulate-update-rule-now/
Founder of Number 1 Ninja Forex Strategy in The World -
forex_trader_525186
Member Since May 29, 2018
11 posts
Jun 25, 2019 at 08:08
apple1st posted:AniLorak posted:
Yes, it’s very rare (ASIC broker – available outside AU traders).
Oh that’s really pathetic; sorry to hear!
its not last broker in our life guys ) lets go kill other brokers haha
which one did you researched that are reliable and 'safe'?
Jun 25, 2019 at 08:46
! Important Update for IC Markets traders:
>>>> Read full notice in attached PDF:
we are pleased to inform you that we have made the decision to maintain your trading account(s) with International Capital Markets Pty Ltd (IC Markets AU).
Accordingly, nothing changes for you: You will be able to continue with your current trading account(s) with IC Markets (AU).
• There will be no impact on your trading account/activity at all.
• Your funds will remain in the same segregated trust account with AA rated Australian banks.
• You will maintain your current open positions and account history.
• Services provided to you by IC Markets (AU) will continue to be governed by the Australian financial services laws.
• Finally, you will keep trading in the exact same market-leading trading conditions as usual.
>>>> Read full notice in attached PDF:
Attachments:
forex_trader_275100
Member Since Sep 17, 2015
126 posts
Jun 25, 2019 at 09:54
marklite posted:Bro read yourself
! Important Update for IC Markets traders:
we are pleased to inform you that we have made the decision to maintain your trading account(s) with International Capital Markets Pty Ltd (IC Markets AU).
Accordingly, nothing changes for you: You will be able to continue with your current trading account(s) with IC Markets (AU).
• There will be no impact on your trading account/activity at all.
• Your funds will remain in the same segregated trust account with AA rated Australian banks.
• You will maintain your current open positions and account history.
• Services provided to you by IC Markets (AU) will continue to be governed by the Australian financial services laws.
• Finally, you will keep trading in the exact same market-leading trading conditions as usual.
>>>> Read full notice in attached PDF:
if they keep or deposits in their bans they will tell you pay 30 USD additionally for every f withdrawal ... and no Screel and no PayPal
later after you deposit big money they will tell that you must receive ASIC license to trade in AU
forex_trader_275100
Member Since Sep 17, 2015
126 posts
Jun 25, 2019 at 09:55
marklite posted:i did not say this . I say i invited more than 100 people there and i received every day some incom IB from ther closed lots.apple1st posted:Are you saying that you didn't withdraw your income for 5 years ?
looks like ALL ASIC Brokers not available for people OUTSIDE AU
Only one thing disappoint me - i worked as IB for 5 years for this broker and now they easy canceled all income....
IcMarkets canceled this in 1 day with no REASON and could not explain this normally in Letter
