Ahead of the Australian Securities as well as Investments Commission (ASIC) regulation alter that is due to come into result on the 29th March 2021, OANDA, a global FX brokerage, has announced that it volition create a new account for professional person traders. However, investors must encounter a set of strict requirements inward club to qualify.
The upcoming ASIC regulations will boundary the leverage that brokers tin offer to retail traders to a maximum of xxx:i. The rules volition besides mandate negative residual protection to ensure that traders do non lose more than their trading stake. In improver, bonuses inwards whatever class will live banned to forbid overtrading.
The alter brings ASIC regulations in-occupation with the European Securities too Markets Authority (ESMA). With that said, it stops short of requiring brokers to discover the pct of accounts that lose money trading CFDs, a alarm that tin can live found on European Union regulated broker’s pages.
OANDA Professional Trading Accounts
For traders looking to act to a professional person trading account amongst OANDA, in that location is a high threshold to meet. Investors will postulate to take an accountant certify that they concord assets of at to the lowest degree AUD2.5 1000000 or take a gross income of at to the lowest degree AUD250,000 for each of the terminal ii financial years. For many, this will price them out of the highly leveraged trading game.
For those who meet the requirements, they’ll live able to access or so uniques features. Anthony Griffin, Manager Director of the Australian business concern arm explained: “We’re delighted to introduce our new Professional Trading business relationship, which will permit experienced clients to access a reach of features including 100:one leverage, margin relief when they home a guaranteed end-loss lodge, as well as attractive volume rebates.”
OANDA is a global brokerage that offers trading inward CFDs on indices, Bitcoin, forex, bonds in addition to commodities. The business firm is regulated past the Financial Conduct Authority (FCA), the Malta Financial Services Authority (MFSA), along with the ASIC.
Traders have the pick of working alongside the OANDA web trader, or using the coveted MetaTrader four platform. OANDA also provides numerous educational resource including webinars, tutorials as well as articles.