Admiral Markets Confirms Its Decision to Conduct New Asic Rules

Admiral Markets, Estonia based Retail FX and CFDs broker, has issued a statement that it decided to follow rules on the provision of CFDs made by Australian Securities and Investments Commission (ASIC), an Australia's integrated corporate, markets, financial services and consumer credit regulator.

The company’s subsidiary Admiral Markets Pty Ltd is regulated by ASIC and holds an Australian Financial Services License.

Following ASIC’s consultation announced in August 2019, concerning product intervention measures related to the provision of CFDs, Admiral Markets said that it confirmed the recent announcement. In addition, leverage restrictions will now be in line with those already existing under the European Securities and Markets Authority (ESMA) since August 2018. The measures are set to be in effect on March 29, 2021, and will apply to retail clients only.

The new leverage ratios will be:

• 1:30 for CFDs referencing an exchange rate for a major currency pair

• 1:20 for CFDs referencing an exchange rate for a minor currency pair, gold or a major stock market index

• 1:10 for CFDs referencing a commodity (other than gold) or a minor stock market index

• 1:2 for CFDs referencing crypto-assets

• 1:5 for CFDs referencing shares or other assets

The responsible Forex&CFD broker showed that it welcomes these new regulations being introduced by ASIC. These regulations will be adopted by Admiral Markets Pty Ltd seamlessly and without issue, and clients will have nothing to worry about or actions to take care of.