ASIC regulation in EU

[georgequayle]

Nope, sometimes brokers can have several licenses, for example Hotforex has CySEC, FCA, South Africa licenses, and also a EU one.

yes? isnt this my point?

 

[bigdolly]

yes? isnt this my point?

I don't know but I think new traders should be told twice some simple things because they love to make silly mistakes.

 

[JamesForexSlayer]

IC Markets are ASIC regulated and you can use them outside of that region.

 

[AshleyWoods]

Does ASIC regulation cover me if I’m in Europe? I signed up with fpmarkets and see they have it but not sure. I want to trade with a broker where I’m protected – anyone?

you can trade from europe with asic brokers. Fp Markets is regulated by asic. So go ahead.

 

[Citaub]

If broker is regulated in one country, then he needs to follow regulations of that country. So, if you are coming from other country, you should be aware of this regulation in order to know your rights and also what is broker allowed to do

 

[bigdolly]

If broker is regulated in one country, then he needs to follow regulations of that country. So, if you are coming from other country, you should be aware of this regulation in order to know your rights and also what is broker allowed to do

That's why I prefer FCA brokers like IB, Tickmill or Hotforex. FCA really clearly states that all investors from any country are eligible for compensation, also broker audits are properly carried out so there is little room for them to cheat. FCA really cares about protection of investors probably because shady FX brokers target clients especially from UK, so they need better protection.

 

[Nikolas88]

If a broker wants to work legally with clients in EU, then they should have a regulation approved by the regulatory body of any of the EU countries. This means FCA or CySec regulation should work fine. May brokers have multiple regulations in many jurisdictions, but if they have only ASIC regulation.. then, in theory, they shouldn't work with EU customers.