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which Australian broker has client money insurance?

  • Post #1
  • Quote
  • First Post: Jan 2, 2017 5:11pm Jan 2, 2017 5:11pm
hello folks,

at the moment all clients money of Australian brokers must be segregated from the brokers money.
does that mean the brokers cant touch the clients money?
think again: they are allowed to use this money for working capital, so in case of insolvency your money might be gone or paid out to other creditors.
so for now your money has no protection at all.

however a new law has come in: no more use of clients money by the brokers and must have insurance of clients money.
brokers will have to change their code of conduct seeing they cant use clients money anymore.
there will be transition period of 12 months from November 2016 for all brokers to comply.

my question: which brokers are complying with the new regulations?
Quoting yonnie
hello folks, at the moment all clients money of Australian brokers must be segregated from the brokers money. does that mean the brokers cant touch the clients money? think again: they are allowed to use this money for working capital, so in case of insolvency your money might be gone or paid out to other creditors. so for now your money has no protection at all. however a new law has come in: no more use of clients money by the brokers and must have insurance of clients money. brokers will have to change their code of conduct seeing they cant use...
Mate, same assurance made by FCA UK but after CHF debacle ALpari UK clients are yet to receive money. So assurance and practical implementation has always difference. Now KPMG getting paid by client protection fund of Alpai UK. So no where you're protected 100% and forex always risky instrument in all aspects, so only risk what amount you can afford to loose.
Never Gamble Forex
  • Post #3
  • Quote
  • Edited 2:17am Jan 3, 2017 2:03am | Edited 2:17am
hello yesyoucan,

what I understand is that most people in Alpari UK received their money back.
the British should alter their model: give back the clients money of the insolvent broker straight away.
sort out the mess with the insolvent broker afterwards.

the Canadian government guarantee apparently is the best: customers got their money back within a few days/weeks.


seems to me that government guarantee or client money insurance is better than nothing, despite the wait.
always smart to use multiple brokers if you have a fair amount of money invested.
Vantage FX have an indemnity insurance policy of $20 million with SJ Catlin and Lloyds of London.

As a client of Vantage FX, you can be assured that your funds are always segregated in a NAB bank account, safely and securely.

Check out our regulation and security page or get in touch with us for more info.
Australian Forex Broker - Try a Vantage FX RAW ECN Account Today.
Quoting yonnie
my question: which brokers are complying with the new regulations?
My guess is none. Why would they add an extra expense when they have several months to just go on as before?
Halifax NZ and Halifax AU under administration.
creditor meeting 5 December in Sydney.
now you know why I would never join an Aussie or NZ broker: your money is not safe!
why is it that the governments in Oz/NZ can`t set up an insurance scheme like they have in other parts of the world?
  • Post #7
  • Quote
  • Edited Dec 6, 2018 2:48am Dec 5, 2018 9:19pm | Edited Dec 6, 2018 2:48am
Quoting Vantage FX
Vantage FX have an indemnity insurance policy of $20 million with SJ Catlin and Lloyds of London. As a client of Vantage FX, you can be assured that your funds are always segregated in a NAB bank account, safely and securely.
Broker Halifax in administration: clients money segregated in a bank account is NOT safe.
Halifax should have 211 million dollars of clients money in a bank account, but external accountants identified a shortfall of 10-20 million dollars.

now the long wait begins to refund the money to the clients.
a year ago ASIC placed more restrictions on the use by brokers of clients money and the need to have insurance.
so what changed: nothing! shame on ASIC.
Quoting skoda2008
{quote} My guess is none. Why would they add an extra expense when they have several months to just go on as before?
But if only you offered cTrader as an alternative to MT4/5.

No, better, NinjaTrader.

This is the only thing stopping me funding my Vantage account.
  • Post #9
  • Quote
  • Last Post: May 18, 2019 11:08am May 18, 2019 11:08am
Quoting yonnie
hello folks, at the moment all clients money of Australian brokers must be segregated from the brokers money. does that mean the brokers cant touch the clients money? think again: they are allowed to use this money for working capital, so in case of insolvency your money might be gone or paid out to other creditors. so for now your money has no protection at all. however a new law has come in: no more use of clients money by the brokers and must have insurance of clients money. brokers will have to change their code of conduct seeing they cant use...
At least there is no Insurance if you lose money (from Australian Brokers).
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