ASIC cancels licence of CFD issuer Trive

The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services (AFS) licence of CFD issuer Trive Financial Services Australia Pty Ltd, effective 1 July 2026.

Trive's licence was cancelled because it was no longer carrying on a financial services business in Australia.

ASIC may suspend or cancel the AFS licence of a body corporate should it cease to carry on its financial services business under s915B(3)(a) of the Corporations Act 2001.

Trive may apply to the Administrative Review Tribunal for a review of ASIC's decision.

Trive was one of 52 licensed CFD issuers assessed by ASIC as part of a whole of industry review of the CFD sector, and after ASIC identified serious deficiencies in some of Trive's processes, the company agreed to stop onboarding new clients in April 2025.

Trive was incorporated on 25 June 2012 and was previously known as ILQ Australia Pty Ltd between 25 June 2012 and 29 July 2018, and Fairmarkets Trading Pty Ltd between 30 July 2018 and 19 December 2023.