menu

Homepage > News > The Australian branch of IC Markets ends its services for clients from Europe

The Australian branch of IC Markets ends its services for clients from Europe


IC Markets AU ends the service of accounts belonging to persons from the European Union – this results from the mailing sent to customers affected by the changes. The cut-off date is May 28.

According to the information sent to clients from Europe who have accounts at the Australian branch of the broker, investors may transfer their accounts to IC Markets EU, an entity regulated by the Cyprus Securities and Exchange Commission (CySEC). After migration, the user will have access to an account with the same login, password, funds, and account settings.

ic markets au kończy obsługę klientów z unii europejskiej

Thanks to the conversation with the support of IC Markets, we have established that EU traders can also choose a broker branch regulated in Seychelles. Clients can migrate their accounts if they don’t have any open positions. You can check them here. By switching an account to Seychelles, the broker’s clients can enjoy higher leverage, up to 1: 500 (which, however, involves a high risk for their funds).

The changes introduced from May 28 apply only to people who have accounts in the Australian branch of IC Markets. They are probably a consequence of regulatory changes introduced recently by the ASIC. At the end of March this year, a product intervention came into force on the local Forex / CFD market, which limited the level of financial leverage and introduced many restrictions.

Author: Izabela Kamionka

Are you a trader?

Help others and rate your broker! Use the search engine or find your broker on the list.



Ad:

Last news:

Weekly news summary

ForexRev: weekly summary [09/13 – 09/19/2021]

The largest Chinese developer, China Evergrande, is on the verge of bankruptcy. The total amount ...
Read More

On September 20, the DAX 30 index will change to DAX 40

Significant changes are coming in the German DAX stock index. The biggest of these is ...
Read More
Cypriot financial regulator cysec

George Theocharides appointed new head of CySEC

The Cyprus Securities and Exchange Commission (CySEC) appointed Dr George Theocharides as the new chairman ...
Read More

The largest Chinese developer, Evergrande, is on the verge of bankruptcy

Until recently, the world's largest real estate development company is threatened with bankruptcy, which may ...
Read More

Add a comment

Your email address will not be published. Required fields are marked *

 

Note: Opinions and posts on ForexRev.com represent personal opinions and views of their respective authors and should not be interpreted as recommendations to purchase or sell securities. ForexRev.org assumes no responsibility or liability for such content.
Go to top