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Showing 1 - 10 of 98 results for "CFDs"

UK influencers fined over promotion of unauthorised forex scheme

JAMIE WILLIAMSON  |  FRIDAY, 27 FEB 2026
... some of their followers invested in the CFD scheme and lost money as a result. The FCA said as many as 80% of investors in CFDs lose money. "These influencers betrayed the trust of those who followed them. We'll continue to work with responsible influencers ...

ASIC returns $40m of CFD losses

ELIZA BAVIN  |  TUESDAY, 20 JAN 2026
... compliance improvement across Australia's contracts for difference (CFD) sector following a whole of industry review. CFDs allow investors to speculate on the price movements of assets such as shares, currencies or commodities, without owning them. ...

ASIC puts 18 finfluencers on notice amid global campaign

JAMIE WILLIAMSON  |  THURSDAY, 12 JUN 2025
... provide unauthorised product advice and promote high-risk, and complex investment products, such as contracts for difference (CFDs) and over the counter (OTC) derivative products. It said they're often making misleading or deceptive representations about ...

Second bidder enters SelfWealth takeover talks

KARREN VERGARA  |  FRIDAY, 15 NOV 2024
... BFG proposed on Wednesday. Global online brokerage firm AxiCorp specialises in forex trading and contracts for difference (CFDs) and is currently led by chief executive Rajesh Yohannan and chief commercial officer Louis Cooper. Founded in 2007 and headquartered ...

ASIC cancels AFSL of foreign exchange contracts issuer

ELIZA BAVIN  |  THURSDAY, 5 SEP 2024
... Investments Commission (ASIC) has cancelled the Australian financial services licence (AFLS) of contracts for difference (CFDs) and foreign exchange contracts issuer, FXOpen AU. ASIC said the decision to cancel the licence came after an investigation ...

ASIC bans 'incompetent' financial services directors

ANDREW MCKEAN  |  FRIDAY, 19 JUL 2024
... responsible managers of XTrade, a trading platform that offers clients opportunities to trade in contracts for difference (CFDs) and foreign exchange contracts. The directors, Shay Zakhaim and Anthony Anderson, have been banned from running a financial ...

ASIC takes action against Guildfords FM, director

KARREN VERGARA  |  FRIDAY, 28 JUN 2024
... that about $40 million of investor money has been lost. Further, as trustee of the Magnolia Head Fund, Guildfords dealt in CFDs when it did not hold an AFSL to do so and failed in its breach reporting obligations to ASIC. Guildfords failed to ensure ...

ASIC cancels AFSL of XTrade

ELIZA BAVIN  |  THURSDAY, 6 JUN 2024
... over-the-counter (OTC) derivatives issuer XTrade. XTrade offered clients opportunities to trade in contracts for difference (CFDs) and foreign exchange contracts (FX contracts). ASIC said its investigation into XTrade found that several vulnerable clients ...

ASIC places stop orders on Trademax Australia

JAMIE WILLIAMSON  |  FRIDAY, 24 MAY 2024
... its TMDs for the complex and risky products; did not adequately enquire into risk tolerance and technical understanding of CFDs over crypto assets to enable Trademax to adequately assess whether they were in the target market described in its crypto ...

Social media influencers charged for promoting shady investments

ANDREW MCKEAN  |  FRIDAY, 17 MAY 2024
... known as Holly Zucchero) used the account to provide unauthorised advice on buying and selling contracts for difference (CFDs) to bet on foreign currencies. Nwanze faces one count of breaching a "general prohibition," which means conducting regulated ...
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