which Australian broker has client money insurance?
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Thread: which Australian broker has client money insurance?

  1. #1
    Hello folks,

    at the moment all clients money of Australian brokers must be segregated from the brokers money.
    Does that mean that the brokers cant get the clients money?
    Think again: they're allowed to use this money for working capital, so in the event of insolvency your money may be paid or gone out to other lenders.
    So for today your money has no protection at all.

    Nevertheless a new law has come in: no longer use of clients money by the brokers and has to have insurance of clients money.
    Brokers will need to change their code of behavior seeing that they cant use clients money.
    There'll be transition period of 12 weeks from November 2016 for all brokers to honor.

    My question: which brokers are complying with the new regulations?

  2. #2
    Quote Originally Posted by ;
    hello people, now all clients money of Australian brokers must be authorised by the brokers money. Does this mean the brokers cant get the clients money? Think again: they are allowed to use this money for working capital, so in case of bankruptcy your money might be paid or gone out to other lenders. So for now your money doesn't have any protection at all. However a new law has come in: no more use of clients money by the brokers and has to have insurance of clients money. Brokers will need to modify their code of conduct viewing that they cant use...
    Mate, same assurance made by FCA UK but once CHF debacle ALpari UK clients are yet to receive money. So confidence and practical implementation has always gap. Now KPMG getting paid by client protection fund of Alpai UK. So no where you are protected 100 percent and Foreign Exchange consistently risky tool in all facets, so just risk what amount you can afford to loose.

  3. #3
    Hello yesyoucan,

    what I understand is that most people in Alpari UK received their cash back.
    The British should alter their model: give back the customers cash of their insolvent broker directly away.
    Sort out the mess with the insolvent broker afterwards.

    The Canadian authorities guarantee apparently is your best: clients got their money back in a few days/weeks.


    Seems to me that authorities guarantee or customer money insurance is far better than nothing, despite the wait.
    Always wise to utilize multiple brokers if you have a fair sum of money invested.

  4. #4
    Have an indemnity insurance policy of $20 million with SJ Catlin and Lloyds of London.

    For a customer of , you'll rest assured that your funds are always assessed in a NAB bank account, safely and securely.

    Have a look at our https://www.vantagefx.com/company-pr...tion-security/ site or get in touch with us to get more information.

  5. #5
    Quote Originally Posted by ;
    my question: that brokers are complying with the new regulations?
    My guess is none. Why would they add an extra cost when they have many months to go on as before?

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