It's time to say goodbye to Australian regulators!

Chinaforeign exchangeRetail customers finally need to negotiate with Australian regulatory authorities（ASIC）Say goodbye!

5According to a person familiar with the matter and the editor, Australian officials visited the headquarters of the State Administration of Foreign Exchange in China for in-depth communication; after5month29The National Media Director of the Australian Securities and Exchange CommissionGervase GreeneHe publicly stated:

The Australian Securities and Exchange Commission has already posted on its official websiteForeign exchange transactionsThe platform provides service announcements to customers within China. The notice states that institutions holding Australian financial services licenses but providing foreign exchange margin services to clients within China will not be tolerated.

according toASICThe requirement is that Australian licensed securities firms without overseas licenses must6month30Recently closed customer positions, which will mean allASICForeign exchange brokers under regulation will cease all services to clients in China.

as report goes:

5month2Day,IFGMAnnouncing the suspension of operations in Chinese Mainland, reminding all investors in positions in Chinese Mainland to2019year5month8Recently, close all positions and apply for withdrawal.5month17dayIFGMRefund to overseas customers.

5month21Day,Vantage FXWanzhi ceases to provide services to overseas customers in Australia.

6month1Day,TBCGulf Capital announced that it will2019year6month20The provision of financial services by investors in Chinese Mainland was officially stopped and investors in Chinese Mainland withdrew in an orderly manner.

6month3On March 1, Altos withdrew from the Chinese market, and customer resources in Chinese Mainland were transferred to Chase.

6month3Day,KVBKunlun International announced to withdraw all customers in Chinese Mainland from its subsidiaries.

6month4Day,IGandETOSuccessively issued notices to withdraw from the Chinese market.

6month7Day,ACYPublish a notice of change in customer entity in the Chinese region, with supervision moved to Vanuatu.

6month12Lotte Securities Australia stopped providing services to customers in Chinese Mainland on July 1.

The latest securities firms to exit this week are:IC Markets、OANDAandAxiTrader。

IC MarketsCease overseas operations and relocate supervision to Seychelles

IC MarketsThe Australian branch will be6Stop providing services to customers outside of Australia at the end of the month.

In the letter sent to the customer,IC MarketsIndicating that due toASICRegulatory requirements,IC MarketsWe are no longer able to provide services to traders outside of Australia.

Meanwhile, in the email,IC MarketsRemind customers to be aware of upcoming regulatory changes and indicate that non Australian customers will be automatically transferred toIC Markets (SC)Trading brand belowTrue ECN Trading Ltd。IC Markets（SC)It is a branch of the broker in the Seychelles region, regulated by the Seychelles Financial Services Authority.

（IC MarketsEmail screenshot)

from7month19From now onOANDAWill cease to serve Hong Kong residents

according toOANDAThe email sent by Australia to Hong Kong customers resulted in the company ceasing to provide services to customers in the region.

OANDAAustralia has also declared that it will7month19Automatically close the account a few days ago.

stay2019year6month27day5pm After Eastern Time, your account will be set to "closed only" mode, which means you will be able to close open positions but not open any new positions.

The client did not even have the opportunity to migrate their account as the broker suggested that all positions should be transferred7month12Recently closed.

（OANDAEmail screenshot)

AxiTraderWill close its overseas account

end6month30Day,AxiTraderIt will close its overseas account and migrate the account to Saint Vincent and the Grenadines.

For Chinese customers, AustraliaASICRegulation may become history.

Can the transition from a strongly regulated Australian license to a weakly regulated island license truly ensure the safety of funds?

Where will the customers go?

Or only time can give us the answer!