With OTC FX broking there seems to be no clear cut answer to which jurisdiction provides Client money safety in case of broker collapse
Many think FSA usa but when I asked the insurance arm they could not clearly say that FX brokers in UK are 100% covered by the 50K insurance
In USA , I don;t think SIPC covers Non Exchange brokers
In Australia things are equally bad .. if you read thsi article in a reputable newspaper
This will be an eye opener to anybody thinking of trading OTC products in Australia
http://www.smh.com.au/business/risky...0627-zbwb.html
Any thoughts .. Broker reliability ( apart from Stop hunting) seems to be a BIG issue in FX OTC maket.. why does the govt allow this to remain ?
Many think FSA usa but when I asked the insurance arm they could not clearly say that FX brokers in UK are 100% covered by the 50K insurance
In USA , I don;t think SIPC covers Non Exchange brokers
In Australia things are equally bad .. if you read thsi article in a reputable newspaper
This will be an eye opener to anybody thinking of trading OTC products in Australia
http://www.smh.com.au/business/risky...0627-zbwb.html
Any thoughts .. Broker reliability ( apart from Stop hunting) seems to be a BIG issue in FX OTC maket.. why does the govt allow this to remain ?
