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Showing 1 - 10 of 74 results for "Forex"

ASIC places stop orders on Trademax Australia

JAMIE WILLIAMSON  |  FRIDAY, 24 MAY 2024
... considering a class action against Trademax Australia, alleging the group encouraged investors to trade in highly risky CFD and Forex products promising high returns and engaged brokers to undertake trading strategies for clients which caused significant ...

ASIC cracks down on Prospero for reporting failures

CHLOE WALKER  |  WEDNESDAY, 10 JAN 2024
... AFSL of Melbourne-based over-the-counter (OTC) derivatives issuer Prospero Markets (Prospero). The penalty comes after the Forex and CFD trading platform, which services mainly Chinese-speaking clients, failed to lodge its annual financial statement ...

Large AFSLs lead advice complaints: AFCA

KARREN VERGARA  |  THURSDAY, 22 JUN 2023
... Services received 63 complaints for the period. A little-known firm called Best Leader Markets which operates derivatives, forex margin trading and CFDs, received 614 complaints between July and December 2022. Separately, ASIC has recently called upon ...

Advice practice valuations rise: Radar Results

KARREN VERGARA  |  FRIDAY, 9 JUN 2023
... negative gearing currently has a market value of $20,000. Managed discretionary accounts plus a basic AFSL goes for $40,000. Forex trading plus a basic AFSL fetches $500,000 or more. There are currently two main categories of buyers: those with the capacity ...

Former Courtenay House director pleads guilty

CASSANDRA BALDINI  |  WEDNESDAY, 9 NOV 2022
... appointed by the Supreme Court of NSW to wind both up. The regulator found investors believed their funds would be traded in forex and futures markets, but this was only accurate for 3%. Instead, monthly amounts paid to investors were derived from capital ...

Unlicensed forex trader extradited from Poland

CHLOE WALKER  |  FRIDAY, 19 AUG 2022
Unlicensed foreign exchange trader Daniel Farook Ali has faced the Brisbane Magistrates Court charged with eight counts of fraud, after being extradited from Poland and arrested following an ASIC investigation. The corporate regulator alleges that between ...

Courtenay House director faces court for alleged fraud offences

CHLOE WALKER  |  WEDNESDAY, 1 DEC 2021
... 21 April 2017, Iervasi and the Courtenay House companies represented to investors that their funds would be traded in the Forex and Futures markets when only a small proportion of funds were traded. ASIC claims Iervasi personally, and through the Courtenay ...

Demand for niche advice firms increases

KARREN VERGARA  |  TUESDAY, 16 NOV 2021
... Results chief executive John Birt said. AFSLs with managed discretionary accounts can sell for $120,000, while those with forex capability are rare and generate a premium. After the 2012 Future of Financial Advice reforms and the Hayne Royal Commission ...

ASIC looks to extend CFD intervention

ELIZABETH MCARTHUR  |  TUESDAY, 19 OCT 2021
... regulate CFDs, ASIC banned the sole director and four former employees of retail over-the-counter (OTC) derivative issuer, Forex Capital Trading from providing financial services, for periods ranging from three to 10 years, for encouraging clients to ...

Goodments by Douugh now in Australia

ELIZABETH MCARTHUR  |  WEDNESDAY, 16 JUN 2021
... Douugh has aggressive expansion plans outside of the US. The company recently partnered with OFX Securities to expand its forex capabilities. "Young people realise buying property is becoming increasingly difficult, so they are turning to shares to make ...
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