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Re: Australia’s 1:30 leverage: ASIC Announces Leverage Cap, Negative Balance Protection

ChuChu Rocket, Mon Oct 26, 2020 10:12 pm

mlawson71 wrote: Sat Oct 24, 2020 2:23 am The Australian financial regulator, the Australian Securities and Investments Commission (ASIC), announced a set of new regulatory rules

Thanks again for breaking the news to us Mlawson.

IG Markets are already informing their Australian clients about the changes. From March 29, 2021 Australian Forex traders will require $3,333 minimum account balance for a 1 Lot trade.


What is the background to the new rules?

In August 2019, ASIC announced several proposals which, if adopted, would impact retail clients who trade CFDs.

On 23 October 2020, ASIC announced the final rules, which includes increases to the minimum margin requirements across all CFD markets. These changes will come into effect on 29 March 2021.

There are no immediate changes to your IG trading account.

The rules don't apply to traders who are classified as 'wholesale' and have qualified for Pro, that is, traders who fulfil specified wealth and experience criteria, and elect to be treated as 'wholesale'.

You can find out more about how ASIC’s rules will affect your CFD trading with us below.
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