Harsher rules expected for Australian brokers for margin FX and CFDs

Having an Australian Financial Services licence continues to be an attractive proposition, but they’re hard to get

Tougher regulation: “The AFS licence for online CFD brokers is harder to get now,” says Kevin Wong

Australia is no longer such a favourable place for retail foreign exchange brokers, as the Australian Securities and Investments Commission (Asic) is cracking down on those offering contracts-for-difference (CFDs) to overseas investors.

Just last month, Asic warned some over-the-counter derivatives brokers may be breaking overseas laws by providing unauthorised services in other jurisdictions. The products include offering binary options, margin FX and other CFDs, the Australian regulator said.

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Week account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: