IMO
ASIC and others are not going far enough.
In addition to further regulations, It would make a lot of sense that anyone wanting to engage in speculating in the forex would need to pay a license fee. This way the barrier would be raised higher to keep the public away from financial ruin.
The money collected from the license fee could be used to educate the wannabe forex millionaire with true facts, offer rehabilitation solution and suicide prevention.
Also a warning message should be apparent in the same way that you see today for tobacco products.
For exemple: "You will lose money if you trade in retail forex": every communication from brokers and "shovel peddlers" should carry this message in bold letters.
Example of a water mark mandatory on all broker, trading system vendors, signal providers ... etc account statements, invoices and letters and web site and advertising.
ASIC and others are not going far enough.
In addition to further regulations, It would make a lot of sense that anyone wanting to engage in speculating in the forex would need to pay a license fee. This way the barrier would be raised higher to keep the public away from financial ruin.
The money collected from the license fee could be used to educate the wannabe forex millionaire with true facts, offer rehabilitation solution and suicide prevention.
Also a warning message should be apparent in the same way that you see today for tobacco products.
For exemple: "You will lose money if you trade in retail forex": every communication from brokers and "shovel peddlers" should carry this message in bold letters.
Example of a water mark mandatory on all broker, trading system vendors, signal providers ... etc account statements, invoices and letters and web site and advertising.