The Australian financial regulator, the Australian Securities and Investments Commission (ASIC) followed the example of the EU regulator ESMA and the British regulator FCA and significantly tightened the rules that govern the sale of CFDs to trail clients.
ASIC capped the leverage at different levels for major and minor currency pairs, gold, major stocks market indexes, commodities, minor stocks market indices, crypto assets and shares, introduced a negative balance protection, stop out level and also banned any and all trading bonuses and promotions.
The new leverage cap introduced in ASIC’s jurisdiction is actually exactly the same as EU’s ESMA leverage caps that were introduced last year:
-1:30 leverage cap for major currency pairs
-1:20 for minor currency pairs, gold, major stock market indexes,
-1:10 for commonodities and minor stock indices
-1:5 for stocks
-1:2 for crypto assets
Source (https://www.forexbrokerz.com/news/australias-asic-introduces-leverage-caps-along-with-new-cfd-rules)
I was wondering when they would do this, I would say they even took pretty long to follow suit after the EU.
ASIC capped the leverage at different levels for major and minor currency pairs, gold, major stocks market indexes, commodities, minor stocks market indices, crypto assets and shares, introduced a negative balance protection, stop out level and also banned any and all trading bonuses and promotions.
The new leverage cap introduced in ASIC’s jurisdiction is actually exactly the same as EU’s ESMA leverage caps that were introduced last year:
-1:30 leverage cap for major currency pairs
-1:20 for minor currency pairs, gold, major stock market indexes,
-1:10 for commonodities and minor stock indices
-1:5 for stocks
-1:2 for crypto assets
Source (https://www.forexbrokerz.com/news/australias-asic-introduces-leverage-caps-along-with-new-cfd-rules)
I was wondering when they would do this, I would say they even took pretty long to follow suit after the EU.