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Leverage changes to 30:1 for major pairs

  • #41
  • Apr 3, 2021 4:51am Apr 3, 2021 4:51am
Your broker really should have notified you much earlier of these impending changes so you could react on time, rather than getting blindsided like this. This has been planned for months by ASIC - the initial decision was made all the way back in October 2020.
  • #42
  • Apr 3, 2021 3:27pm Apr 3, 2021 3:27pm
Quoting tomislav
{quote} I got back into Forex trading in June 2020 after an absence so I can't qualify for Pepperstone Pro. You need 2 years of trading with specified volume to qualify for Pro as well as $100,000 a year income. I am now with Black Bull Markets in New Zealand on their Prime account with 500:1 leverage. Their feed is similar to Pepperstone so check them out. My only complaint is, is that the swaps on their demo account are different to their real money account. Apart from that, it's good.
great, going to create an account with them today
  • #43
  • Apr 5, 2021 12:27am Apr 5, 2021 12:27am
Quoting Aegis8
I'm in the same boat as the thread starter. With Pepperstone, one had the "option" to move to Pepperstone Markets Kenya. I had the idea of moving there, grow my account and then return to Pepperstone under ASIC. Just better regulated. I was told today, when I queried this, that it is not possible to move back. The reason: Residents of the Russian Federation only have access to Pepperstone Markets Kenya and not Pepperstone under ASIC. This was not stated anywhere and if this is the case then surely all RF customers should have been moved already......
Update to my previous post.

Got some clarity on the status of Russian Federation clients with Pepperstone under ASIC. If you don't want to move you are allowed to stay, I would assume that this won't change in the future. They are simply not accepting new clients, even if you are a client of Pepperstone Kenya.
  • #44
  • Apr 5, 2021 6:48am Apr 5, 2021 6:48am
Quoting tomislav
{quote} I got back into Forex trading in June 2020 after an absence so I can't qualify for Pepperstone Pro. You need 2 years of trading with specified volume to qualify for Pro as well as $100,000 a year income. I am now with Black Bull Markets in New Zealand on their Prime account with 500:1 leverage. Their feed is similar to Pepperstone so check them out. My only complaint is, is that the swaps on their demo account are different to their real money account. Apart from that, it's good.
You only need 4 quarters, not two years. And you do not need the $100k income as well. It's either/or.
  • #45
  • Apr 5, 2021 9:44pm Apr 5, 2021 9:44pm
Quoting TheForexDen
{quote} You only need 4 quarters, not two years. And you do not need the $100k income as well. It's either/or.
Yes you're right in regards to 4 quarters being needed within a 2 year period. Unless something has changed, this is the info I received from Pepperstone on the 5th of February 2021.

Sophisticated Investor:
Annual income of at least $100k
OR
Assets of $500k (includes property, savings and assets)

AND

Traded leveraged FX or CFDs 20 times per quarter for at least 4 quarters in the preceding 2 years with a notional value of AUD$50,000 or more
OR
Work or have worked in the financial sector for at least one year in a professional position which requires knowledge of leveraged trading (or FX/CFDs)
(documentation will be required)
  • #46
  • May 3, 2021 7:18pm May 3, 2021 7:18pm
This thread is abit old but thought this is the best place to ask this question....

Can someone explain to me why Binance Australia is able to offer upto 125x leverage on crypto at a time when all the other major brokers in australia offer 2:1. At a time when under the rule changes these exchanges have also capped their leverage at 30:1 for most major pairs that i would argue are far more stable instruments then crypto.

For some reason it doesn't look like these new ASIC regulations effected the crypto trading at binance. Is Binance or is parent company Travelbybit even regulated or liscensed in Australia?
  • #47
  • May 14, 2021 6:01am May 14, 2021 6:01am
Quoting iainmcc
This thread is abit old but thought this is the best place to ask this question.... Can someone explain to me why Binance Australia is able to offer upto 125x leverage on crypto at a time when all the other major brokers in australia offer 2:1. At a time when under the rule changes these exchanges have also capped their leverage at 30:1 for most major pairs that i would argue are far more stable instruments then crypto. For some reason it doesn't look like these new ASIC regulations effected the crypto trading at binance. Is Binance or is parent...
Binance Australia is not regulated by ASIC.
Because crypto is not recognized as a financial product.
To become a financial product, a custodian bank must be able to reconcile your client trust / assets.
As far as i know, in the region, only a couple of Singapore banks have set up crypto custodian account services.

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  • #48
  • May 15, 2021 8:15am May 15, 2021 8:15am
Thanks for clarifying. I have been going down the rabit hole of Crypto not to trade it but to uncover and make arguments to all my friends who are now asking about it. Its freakin scary when you look at binance as a company and what protections they dont give to customers.

No zero balance protection.
If you read their Terms and conditions its out right scary. They more or less tell you outright they are going to sell your data to absolutly anyone who throws a cheque book at them.

I did some reseatch on their past hack and found they refunded 40 Million of their clients money that was stolen. This was a time when bitcoin was at 10,000. At todays price if they got hacked for the same amount of bit coin it would be over a quarter of a billion. Just going to throw it out there I dont think they have that kind of cash lying around.

Another thing i was curious about. If a unregulated exchange like Binance is unregulated. In the event of a substantial hack like i mentioned above (lets be honest when, not if) was to occur then Binance customers would have to rely on Binance good will to repay the money out of their own pocket as since they are unregulated they are not able to insure the deposits made by their clients. I ask becuase i did some digging around Binance website and every time a question like "is my money safe with binance" is asked they talk about security and something called SAFU. As best as i can figure SAFU is they take 10% of all trading fees and put it in a hard wallet account off line that cant be hacked. I get binance is one of the bigger exchanges but I dont think that's enough to cover a significant hack and theft of bitcoin or other crypto. Plus the fact they have to have this makes me think there is no third party insurance company willing to back them.

Thoughts?
  • #49
  • May 16, 2021 9:53pm May 16, 2021 9:53pm
Quoting iainmcc
Thanks for clarifying. I have been going down the rabit hole of Crypto not to trade it but to uncover and make arguments to all my friends who are now asking about it. Its freakin scary when you look at binance as a company and what protections they dont give to customers. No zero balance protection. If you read their Terms and conditions its out right scary. They more or less tell you outright they are going to sell your data to absolutly anyone who throws a cheque book at them. I did some reseatch on their past hack and found they refunded 40...
When Satoshi came up with the ideal of a decentralized currency, it was based on taking back power from the central banks and regulators.

imo asking regulators to patrol a industry it was meant to deter defeats the entire purpose.

all crypto brokers/exchanges, including binance should be a place where you only buy your crypto and then move it to cold storage/crypto custodian bank. transferring it back to a exchange only when u intend to sell, not deposit and speculate as u would do with a forex/stock broker.
  • #50
  • Jun 24, 2021 1:52am Jun 24, 2021 1:52am
I've closed my account with Black Bull Markets. They have moved all their currency pairs towards negative swaps on both sides. I cannot recommend them for that reason.
All the best.
  • #51
  • Jan 14, 2022 9:47pm Jan 14, 2022 9:47pm
Quoting tomislav
I've closed my account with Black Bull Markets. They have moved all their currency pairs towards negative swaps on both sides. I cannot recommend them for that reason. All the best.
Hi,
What do you mean by "They have moved all their currency pairs towards negative swaps on both sides"?

Thanks
Mike
Failure, is a wonderful teacher!
  • #52
  • Sep 25, 2025 10:40am Sep 25, 2025 10:40am
Quoting tomislav
{quote} I got back into Forex trading in June 2020 after an absence so I can't qualify for Pepperstone Pro. You need 2 years of trading with specified volume to qualify for Pro as well as $100,000 a year income. I am now with Black Bull Markets in New Zealand on their Prime account with 500:1 leverage. Their feed is similar to Pepperstone so check them out. My only complaint is, is that the swaps on their demo account are different to their real money account. Apart from that, it's good.
Whats their leverage for indices ?
  • #53
  • Last Post: Sep 25, 2025 10:56am Sep 25, 2025 10:56am
Quoting Fxsniper82
{quote} Thanks mate I'll take a look. Have you heard of black bull? A broker in NZ which offers the same leverage as pepperstone once did. Got many good reviews, it's just difficult to know who to trust. I'll check out your recommendation, cheers.
'it's just difficult to know who to trust'. Good point.
Did you ?
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