I did ask them specifically about FX Here is what Mr. Robinson said By the way you are correct about MAS in Singapore... the only reason I would trust Singapore is "Changi prison is a horrible place " and would deter people from committing fraud... ...

Safe Broker...

Bestya2 The issue is no matter how big or small the client account size is it should be protected.. just becasue somebody has 1-2K only does not mean no protection is necessary Any way with FSA ... if you read the correspondence that I had with FSCS ...

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safer way to trade FX — Perhaps another way to trade some FX pairs with some sort of protection of client moeny is to trade Currency ETF like FXA etc with a regular US registered and insured broker... url There are even ETOs on these shares ...

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[quote=tx_sandman;4153040]My priorities would be : 1) an insurance scheme (FSA gives you 50K GBP per account === it's not huge, but it's something) That is what I thought but when I checked with the FSCS The response I got meant ( to me) at least ...

Safe Broker...

Currency Options — Do you mean Exchange Traded Currency Option? or OTC currency options? For ETO on currency any reputable US broker, OE/ TOS/ IB etc Also check out ETOs on Currency ETF by rydex ,, example stock code = FXA = AUD/USD For OTC ...

Broker for currency options?

Mate that is exactly what I was trying to do like many others ( 4000 accounts 83 million dollar client positions) and never ever thought that there is any risk other than Market risk Never thought that the country regulator's ( and Auditors) ...

GoMarkets Discussion

I am not at all saying that the entire OTC industry in AUS is crooks but certainly current regulations by ASIC allows crooks to get away with client money in worst case scenario Would we (clients) all not be better off IF ASIC - Create a National ...

GoMarkets Discussion

Acopalpto Coem to next Creditor's meetimng adn you will se eteh amger at both Sonray and ASIC adn Saxo I am not here to piss every Aus broker .. what I am doing is pointing to FACTS As they stand and As ASIC allows (toothless watchdog) READ the ...

GoMarkets Discussion

mate Apocalypto< image ______ {*_*} _______ Don't lecture me on this I know what risk is... and happy to take normal market trading risk not the BS created by ASIC and the OTC industry . It sounds like you guys in US are pissed off because you ...

CITI FX for non US residents

Blame the system, blame the brokers not me. — Sonray also offered FX, not just CFD and in any case CFD or FX the Client money / seg account remains the same The only way there is any protection in Australia is if Shares are held under HIN via ...

GoMarkets Discussion

Blame the system, blame the brokers not me. — Many people seemed to be annoyed that I keep raising this question But is it not more relevant now? that because of changes in US regulations many of uS and Eu clients are looking for Non US but ...

CITI FX for non US residents

Client fund ..Why should one not be worried? — I don;t know why you guys are out to point a finger at me? I am just trying to find out a safer way.. as a consumer what is wrong with that? Just trying to find a FX broker at par with SIPC type ...

CITI FX for non US residents

Guys Yes ASIC is to blame for creating this situation with respect to OTC product providers I also though that ASIC AFSL was good enough BUT the situation with Sonray has exposed this . Having AFSL does not protect the mum and dad client of a OTC ...

GoMarkets Discussion

You mention "capital adequacy requirements in Australia are very stringent so clients are also afforded that protection aswell." In what form? As per law broker is not supposed to use Client Funds for business purposes but if you do and then if ...

GoMarkets Discussion

You mention "So the only secure way to go about this, if you do not trust any broker regulated or not, is to park your spare funds in a bank account (" Ok but that is inconvenient. I hope with SOnray and other debacles ASIC changes the rules or ...

Issues with FXOpen

Client Money safety — Go markets You mentioned that you have a PI insurance that will cover client money in case of Fraud by your staff! Are you absolutely sure? that the insurance covers fraud by staff directors? Would you be able to upload ...

GoMarkets Discussion

The general broker business model, especially the US business model, does not fit into the Australian standards, and will result in heavy legal issues and problems with revenue How? From regulation point of view Does Australian market maker FX ...

IBFX Australia soon

Liquidity of FX options — Which FX options are liquid Per US or Per other currency? I mean is AUX more liquid than AUM?

FX Options Discussion

ASIC client money safety? is it really any good? — Although the client money is in a segregated account at the end of the day is it not true 1) These are not individual account but co mingled with other clients 2)In case of GOM Australia going ...

GoMarkets Discussion