ASIC suspends license of CFDs broker GFA Capital Markets

Australia's financial regulator, ASIC, has suspended the Australian financial services license (AFS) of CFD issuer GFA Capital Markets Ltd for five months, citing multiple failures in client money handling, reporting obligations, and compliance. 

The suspension runs from 23 July 2026 to 18 December 2026. ASIC identified the deficiencies during an industry-wide review of 52 licensed CFD issuers. GFA, which has held an AFS license (number 398104) since 16 March 2011, is one of several Australian brokers targeting retail clients in China and other parts of the Far East. Its website currently displays an "Under Maintenance" message. 

Following an administrative hearing, ASIC found that GFA failed to properly separate and handle client money, mixed non-client money with client funds, breached reporting obligations under the ASIC Derivative Transaction Rules (Reporting) 2024, lacked adequate systems, controls, financial resources, technology, and staffing, and was likely to breach its general obligations as a licensee. 

The suspension is recorded on ASIC's Professional Registers, and GFA may seek a review of the decision through the Administrative Review Tribunal. During the suspension, GFA may only operate to maintain its AFCA membership, hold professional indemnity insurance, and comply with ASIC notices. 

Before the suspension ends, GFA must demonstrate improved compliance, client money handling, and reporting processes; otherwise, ASIC may extend the suspension or cancel the license. 

This action follows ASIC's broader CFD sector review, which in January 2026 secured the return of nearly $40 million to over 38,000 retail investors and drove significant compliance improvements. ASIC previously cancelled the AFS license of OTC derivatives issuer Trive after it stopped onboarding new clients following the regulator's identification of serious deficiencies.