ASIC launches civil proceedings against AGM Markets, cancels its license

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The Australian Securities and Investments Commission (ASIC) announced it has cancelled the license of retail OTC derivative issuer AGM Markets,
due to unethical conduct and unmanaged conflicts of interest. The Australian financial watchdog has also launched civil proceedings against the broker.

After it conducted an investigation on the company’s activity, ASIC listed eight reasons to cancel the license of AGM Markets Pty Ltd, the Australian arm of the brokerage.

The Australian regulator also clarified that AGM Markets’ AFS license will continue till the end of the year, so that the broker maintains its membership of an external dispute resolution scheme and stays covered by adequate indemnity insurance until this time.


Re: ASIC launches civil proceedings against AGM Markets, cancels its license

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mlawson71 wrote: Fri Nov 09, 2018 11:25 pm The Australian Securities and Investments Commission (ASIC) announced it has cancelled the license of retail OTC derivative issuer AGM Markets,
due to unethical conduct and unmanaged conflicts of interest. The Australian financial watchdog has also launched civil proceedings against the broker.

After it conducted an investigation on the company’s activity, ASIC listed eight reasons to cancel the license of AGM Markets Pty Ltd, the Australian arm of the brokerage.

The Australian regulator also clarified that AGM Markets’ AFS license will continue till the end of the year, so that the broker maintains its membership of an external dispute resolution scheme and stays covered by adequate indemnity insurance until this time.
Haha oh no! Another dodgy broker added to our list. Apparently these guys offer FX trading through their two shitty companies https://www.firstindex.com/#/ and https://www.alpha.trade/.

Good work Mr Lawson!
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Re: ASIC launches civil proceedings against AGM Markets, cancels its license

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mlawson71 wrote: Fri Nov 09, 2018 11:48 pm The list of bucketshops is endless, it seems. :(
Yeah it's a shame. As long as we keep trying to get the word out and list those baddies we'll be doing our part to let others know bro!
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Use Fibonacci numbers for indicator settings + How to draw Fibonacci Extensions
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Re: ASIC launches civil proceedings against AGM Markets, cancels its license

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You can add FSM Smart to the list of scammers.

Switzerland's regulator FINMA issued a warning against them for not being entered in their commercial register, despite claiming to be based in the country.

The same company also lists an address used by a number of other shady broker companies like iForex24, Banc De Monarch and AxeCC. Scammers can't even bother to be original.

Re: ASIC launches civil proceedings against AGM Markets, cancels its license

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mlawson71 wrote: Wed Nov 14, 2018 1:00 am You can add FSM Smart to the list of scammers.

Switzerland's regulator FINMA issued a warning against them for not being entered in their commercial register, despite claiming to be based in the country.

The same company also lists an address used by a number of other shady broker companies like iForex24, Banc De Monarch and AxeCC. Scammers can't even bother to be original.
Actually, the address of FSM Smart Limited - Ajeltake Road, Trust Company Complex, MH 96960, Ajeltake Island, Majuro – seems to be very popular among shady unregulated brokers...
Ajeltake Island? Never heard of that island but it seems to be nice and expensive there.
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Re: ASIC launches civil proceedings against AGM Markets, cancels its license

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mlawson71 wrote: Wed Nov 14, 2018 1:00 am You can add FSM Smart to the list of scammers.

Switzerland's regulator FINMA issued a warning against them for not being entered in their commercial register, despite claiming to be based in the country.

The same company also lists an address used by a number of other shady broker companies like iForex24, Banc De Monarch and AxeCC. Scammers can't even bother to be original.
Excellent. Will do, thanks bro :shh:
Are you looking for a Forex broker? FBS cuts spreads by up to 58%. Click here to begin your trading journey, today.
No commissions are earned by Forex-station.


Guide to the "All Averages" Filters (ADXvma, Laguerre etc.) 🆕
Use Fibonacci numbers for indicator settings + How to draw Fibonacci Extensions
An easy trick for drawing Support & Resistance


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