de | cn | ru

Market News

FIBO Group Sets Foot in Australia, Gets AFS License

FIBO Group, the Cyprus-based Forex broker, has just announced the obtaining of an Australian financial services (AFS) license and that it is now legislated to provide its services in Australia. In a press release, issued on October 1, FIBO Group said Fibo Australia Pty Ltd had gained a license (number 439907) from the Australian Securities and Investments Commission (ASIC). 

 

The AFS license gives the company the right to:

- offer advice about financial products to its clients;

- deal in financial products;

- make a market for financial products;

- run a registered scheme;

- extend a custodial or depository service;

- offer traditional trustee company services.

 

Now that  Fibo Australia Pty Ltd has the necessary regulatory permissions, it joins a raft of FX brokers in Australia, which obey certain strict requirements, including one for net capitalization which should be at least AUD 1 million. However, in many respects the Australian Forex market remains one of the freest Forex destinations in the world – it allows any leverage and is open to strategies like hedging and scalping. 

 

FIBO's expansion in Australia comes amid what can be seen as a push of Cypriot Forex brokers to grow internationally: XM, for example, recently secured regulatory permission to operate in New Zealand. This may be partially attributed to the temporary chaos, created amid statements by the Cyprus Securities and Exchange Commission over the right of Cypriot Forex brokers to provide their services in countries outside of the European Union.

 

Regardless of the motives behind its decision to expand, FIBO is now set to be an Australian broker too. The company promises to launch a dedicated website for Fibo Australia Pty Ltd soon and to inform future clients of the business about the opportunity to open accounts in due course.

 

About FIBO Group

 

The International Financial Holding FIBO Group comprises a group of companies whose main business area is margin trading in financial instruments. Clients can benefit from a number of investment products, including Spot Forex, Futures/Options, CFDs and Spot Gold. The brokerage is headquartered in Limassol, Cyprus, and is therefore regulated by CySec – the Cyprus Securities and Exchange Commission. As of May 2006, FIBO also has a functioning office in Shanghai.

 

TAGS: fibo group  fibo group forex  australian forex  australia forex broker  australia forex market  australia forex regulation  asic  afs licence  australia forex license 

More news about FIBO

Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia, Cyprus ASIC MT4, MT5,
IRESSTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

More Forex Market News

CySEC suspends the license of AFX Capital Markets

Jul 19 2019 16:33:06

  The Cyprus Securities and Exchange Commission (CySEC) announced that the license of AFX Capital Markets is temporarily suspended due to suspicions of non-compliance regarding the safeguard of clients’ funds. Read more

Belgium’s FSMA warned against binary options brokers Vipwayzone and Go Capital FX

Jul 18 2019 15:41:16

  Belgium’s financial regulator, the Financial Services and Markets Authority (FSMA) warned the public against Vipwayzone and Go Capital FX previous week. According to the FSMA, the two companies offer binary options without complying with Belgian financial legislation. Read more

Could Trump’s hostile view of Bitcoin & Libra affect the crypto market?

Jul 17 2019 16:34:56

In a series of tweets, the US President Donald Trump said he's not a fan of digital currencies like Bitcoin and Libra previous week. A couple of days later, Bitcoin plunged nearly 13% after US lawmakers grilled the Facebook executive in charge of Libra. Read more

Hong Kong’s SFC also blacklists GCG Asia

Jul 16 2019 15:08:47

  The Hong Kong Securities and Futures Commission (SFC) recently blacklisted unregulated brokerage Guardian Capital Asia (GCG Asia). Read more

German and Austrian police goes after several online financial scammers

Jul 15 2019 14:50:02

  Option888, XMarkets, TradeInvest90, ZoomTrader and TradoVest are being investigated by German and Austrian police for investment fraud and money laundering, the German public television reported, as quoted by the Times of Israel. Read more

ESMA warns forex brokerages not to circumvent its product intervention measures

Jul 12 2019 17:22:23

  The European Securities and Markets Authority (ESMA) has identified certain undesirable practices among CFDs providers, which raise concerns of non-compliance with the product intervention measures introduced a year ago. Read more

Spain’s CNMV blacklists Grand Capital, BinaryMate, FXTPremium, and more

Jul 11 2019 16:56:42

  Spain’s financial regulator, the CNMV, updated its warning list with a number of unregulated brokers on Monday: Grand Capital, BinaryMate, FXTPremium, VideForex, HQ BROKER, WellingtonInv, GlobalBCM. BitcoinTrader, and Smart Capital Advisor. Read more

Bitmarket closes up shop, hack suspected

Jul 10 2019 19:58:47

  Poland’s second-largest crypto exchange Bitmarket closed up shop on Tuesday, without any prior warning. According to a message posted a day earlier on the Bitmarket’s website, the exchange was forced to cease operations due to loss of liquidity. Read more

Austrian FMA flags unregulated brokerage Universe Markets

Jul 09 2019 15:31:55

    The Austrian Financial Market Authority (FMA) warns investors against dealing with Universe Markets and its parent WhiteSquare Trading Ltd. Read more

Capital FMI ends up on FCA’s warning list as a clone

Jul 08 2019 11:40:05

  Unregulated broker Capital FMI ended up on the warning list of UK’s Financial Conduct Authority (FCA) as a clone firm previous week. According to the regulator, the broker has been providing financial services or products in the UK, falsely claiming to be an authorised firm. Read more

de | cn | ru