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Zebrarank Exclusive: AETOS suspends the opening of accounts for customers in China, ASIC brokers are

Discussion in 'General Forex Talk' started by ZEBRARANK, Apr 19, 2019.

  1. ZEBRARANK

    ZEBRARANK Private

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    Today, it was received that AETOS failed to open accounts for customers in China. Subsequently, the fxmitan contacted with altaus and confirmed the news. According to the official statement, "the new account has been suspended, and the old customers have been in normal access to gold, including mobile payment (Alipay) channel maintenance. There will be definite news in May. "

    Fxmitan also believes that with Aetos'reputation and service in China, it will soon be able to solve the problem of customer placement in China.

    As spy shared in the previous article, ASIC Brokers currently has two solutions, one is to provide offshore accounts to customers, and the other is to provide insurance plans (London market insurance). In either case, the Brokers vendors have to face ASIC censorship, that is, to close the position of Chinese customers registered under ASIC according to the requirements of ASIC.

    A small number of Brokers like Aetos suspended accounts and cooperated with ASIC supervision, while a large number of Brokers actually had ASIC licenses, but they opened their customers in offshore accounts very early, so this ASIC request to close the positions of Chinese customers, they did not affect.

    Investors have a chance to judge whether Brokers are segregating accounts and accepting supervision. Because ASIC is so noisy, customers under ASIC Brokers are very clear about their account ownership.

    Although the ownership of their accounts can be known, in fact, investors can do nothing, the best way is to confirm with the Brokers.

    Brokers vendors have also challenged the new ASIC rules. As complaints grow, ASIC is also adjusting the time limit of the new rules.

    According to ASIC official information, they are notifying brokers that they are not allowed to solicit customers and provide account opening services in unregulated jurisdictions, and that doing so needs to be stopped immediately.

    Meanwhile, the deadline for closing Chinese customer positions has been extended to June 30.

    Although the delay provides breathing space for ASIC Brokers, they are still required to send their implementation plans to ASIC by May 10.

    Before July 1, 2019, the ASIC Brokers needs to provide the total amount of customer funds held with brokers in each jurisdiction.

    Before July 8, 2019, ASIC required brokers to provide a number of retail and wholesale customers.

    ASIC said it was working closely with authorities in China and other jurisdictions to ensure broker compliance.
     
  2. Olieng38

    Olieng38 Private, 1st Class

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    Why we constantly discuss China Forex brokers, and what all this have to do with everything we discuss here, I highly doubt somebody from here can take some part in all that going on, I do know forums like Altcoinstalk.com, try here your propaganda.
     

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