Trading leveraged trading products carries a high level of risk. Losses can exceed your intial deposit.
All ForexCFDs clients are categorised as Retail and will remain so unless otherwise agreed with you.
In accordance with the Corporations Act, all client money is held in accounts with an Australian authorised deposit-taking institution. Those accounts are designated as trust accounts and clients funds are segregated from Finas’s own funds. The Corporations Act permits money held in a client account to be used for the purpose of meeting obligations incurred by ForexCFDs in connection with margining, guaranteeing, securing, transferring, adjusting or settling dealings in Derivatives such as the CFD Products, by us, including dealings on behalf of people other than a client. However, ForexCFDs adopts a policy that is more stringent than the Corporations Act requirements in that it does not use the money held in client accounts for any hedging purpose.
The segregated accounts are held with a top tier Australian bank, Westpac in Sydney.
All client money processes and compliance with the rules are audited annually by our auditors.
Internal audit processes are also performed and are overseen by the independent Non-Executive Directors.
ForexCFDs does not speculate on positions in the market or have exposure to corporate or sovereign debt.
We take our regulatory obligations very seriously. We have taken all the necessary measures to ensure our clients’ funds are fully protected.
Know Your Customer (KYC) or Know Your Client is a form of due diligence which helps to ensure that financial institutions have detailed information about their clients.
It’s intention is to clearly identify who the institution is dealing with and to ensure the client is not involved in any criminal activity (such as fraud or money laundering).