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foroz · 08-09-2004, 07:34

I had a look at the boomerangfx site and find that there is no longer any mention of seminars in Australia. This may be because they do not meet the Australian requirements to be licensed by the Australian Securities & Investments Commission.

Whilst FxSol has US regulation, there is nothing on the site quoting an Australian finacial services licence.

Now I know this is all very confusing when you live in Australia, let alone if you live outside of Australia, but Saxobank were prevented from continuing to have Australian clients other than through companies here that were licensed.

Here is the first part of what was sent by Saxobank to their clients earlier this year:

"Copenhagen, March 9th, 2004
Dear Client,

As a result of changes in the Australian financial services legislation introduced a while back, Saxo Bank is no longer able to offer our trading services to retail clients residing in Australia as of March 11th, 2004. "

Educators in Australia have found that they too possibly need to be licensed under ASIC.

There certainly has been a reduction in numbers of people coming into the major cities wanting to charge big dollars for seminars on options in recent times.

ASIC made at least one company pay the pips they received as an Introducing Broker for forex companies back to their Australian clients.

08-09-2004, 07:34	#8
foroz level 3 Join Date: Aug 2004 Posts: 331 Downloads: 0 Uploads: 0 Rep Power: 0	I had a look at the boomerangfx site and find that there is no longer any mention of seminars in Australia. This may be because they do not meet the Australian requirements to be licensed by the Australian Securities & Investments Commission. Whilst FxSol has US regulation, there is nothing on the site quoting an Australian finacial services licence. Now I know this is all very confusing when you live in Australia, let alone if you live outside of Australia, but Saxobank were prevented from continuing to have Australian clients other than through companies here that were licensed. Here is the first part of what was sent by Saxobank to their clients earlier this year: "Copenhagen, March 9th, 2004 Dear Client, As a result of changes in the Australian financial services legislation introduced a while back, Saxo Bank is no longer able to offer our trading services to retail clients residing in Australia as of March 11th, 2004. " Educators in Australia have found that they too possibly need to be licensed under ASIC. There certainly has been a reduction in numbers of people coming into the major cities wanting to charge big dollars for seminars on options in recent times. ASIC made at least one company pay the pips they received as an Introducing Broker for forex companies back to their Australian clients.