Trademax Australia Limited, operating under the TMGM brand, faces interim stop orders from the Australian regulator under Design and Distribution Obligations (DDO). The broker must halt new trading accounts and dealings in CFDs and margin FX for 21 days unless the orders get revoked earlier. ASIC Cracks Down on TMGM On Thursday, the ASIC issued …
The Australian Federal Court has ordered Prospero Markets, a trading broker for forex and CFDs, to shut down and has appointed a liquidator to refund client money. This move follows a demand from the Australian Securities and Investments Commission (ASIC). On Thursday, the court demanded the closure on grounds deemed just and equitable. BRI Ferrier’s …
MyFlashFunding, based in the US, today (Monday) disclosed its collaboration with an ASIC-supervised broker for its global clients. The ASIC, a leading authority in financial regulation, oversees this broker. Despite the announcement, the prop firm kept the broker’s identity confidential. It’s also still determined whether the services will be under the ASIC’s watch or a …
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