Does anyone here ever paid the negative balance to any of a australia brokers as a oversea clients?
I wonder what legal action they could really take on you.
My understanding is that ASIC has Australian CFD brokers who offer 1:30 leverage to their customers on Major Pairs required by law to protect the trader in a negative-balance situation. You can still "lose it all" of course just not 'more'.
Trade safe, trade well and DO NOT put yourself in a dangerous situation with your a/c in these global troubled times.
Forget the broker adverts in the middle lol and I do not give any personal recommendations while I have two live a/cs with 2 different brokers.
My understanding is that ASIC has Australian CFD brokers who offer 1:30 leverage to their customers on Major Pairs required by law to protect the trader in a negative-balance situation. You can still "lose it all" of course just not 'more'. Trade safe, trade well and DO NOT put yourself in a dangerous situation with your a/c in these global troubled times. Forget the broker adverts in the middle lol and I do not give any personal recommendations while I have two live a/cs with 2 different brokers. From March 2021. https://www.daytrading.com/asic-meas...nce-protection...
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I'm under pepperstone limited and under scb-regualtions which stated that they would provide negative balance protection for retail trader. However, they do stated that if they solely consider a client who is misconduct or abuse the market. They would reserve the right for the protection. Which for me isn't so promising since even in a blackswan event, they could have their final decision if they give you the protection or not.
Note i personally don't trade beyond 1:30 leverage, and i would never hold over cpi,ppi,fomc,nfp news.
My understanding is that ASIC has Australian CFD brokers who offer 1:30 leverage to their customers on Major Pairs required by law to protect the trader in a negative-balance situation. You can still "lose it all" of course just not 'more'. Trade safe, trade well and DO NOT put yourself in a dangerous situation with your a/c in these global troubled times. Forget the broker adverts in the middle lol and I do not give any personal recommendations while I have two live a/cs with 2 different brokers. From March 2021. https://www.daytrading.com/asic-meas...nce-protection...
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Exactly in this global troubled times, it's actually kinda worrying.
{quote} I'm under pepperstone limited and under scb-regualtions which stated that they would provide negative balance protection for retail trader. However, they do stated that if they solely consider a client who is misconduct or abuse the market. They would reserve the right for the protection. Which for me isn't so promising since even in a blackswan event, they could have their final decision if they give you the protection or not. Note i personally don't trade beyond 1:30 leverage, and i would never hold over cpi,ppi,fomc,nfp news.
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The Aus broker would not want ASIC on their case imho, in regards to their licence to operate.
In a real black swan event the broker might also dissappear as well, with all our a/c's positive balances too hahaaa
We can all choose NOT to trade of course.
Up to each individual to assess their own risk tolerances.
All the best Tommy.
{quote} The Aus broker would not want ASIC on their case imho, in regards to their licence to operate. In a real black swan event the broker might also dissappear as well, with all our a/c's positive balances too hahaaa We can all choose NOT to trade of course. Up to each individual to assess their own risk tolerances. All the best Tommy.
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Best wishes brother, I think these days brokers have their operation mixed with a,b book, even a blackswan events wouldn't really put them into bankrupt.
Appreciate your fast reply brother.
