Quote Originally Posted by ;
quote I just read this, and also have seen an e-mail** out of Pepperstone that confirms that all NZ clients have to close their accounts. I guess that https://fma.govt.nz/news-and-resourc...o-be-licensed/ is the most important reason behind it all. My friend who has an account with AxiTrader informs me that he's spoken with Axi, and they're in the process of being licensed with the NZ FMA. Hence it will be possible...
Thank you for this David. Given that Pepperstone in Australia falls under ASIC regulation and must maintain AFSL licences to earn a market and advise and deal...I would have assumed it would have been a rather straightforward matter to arrange for the necessary authorisations under NZ laws...I am wondering if there's more to NZ recent fluctuations than I think :--RRB-

It is quite a lot to cut yourself off in an entire geographic segment.