Are you leaving ASIC to offshore Regulations?

After ASIC announced the new leverage limits and the ASIC product intervention starting on March 29th 2021. Many Australian brokers are giving their international clients the choice to move to their offshore regulated entities.
Have any of you opted to accept this offer or decided to stay under ASIC even with lower leverage? How will this affect your trading strategy. I imagine it would greatly affect specifically low capital scalpers.
What do traders on this board think?

It seems most brokers have entities in IFSC Belize, FSA Seychelles, SCB Bahamas and VFSC Vanuatu.

I don’t use them myself but a friend of mine uses Australian broker Tradedirect365 and I believe they have an entity in Seychelles. Their UK clients deposit funds into a London branch of Barclays bank in an escrow account, so I would imagine that they will have a similar deal to deposit funds into a safe bank in other countries.
Of course this doesn’t relate to regulations but your funds would be safe.

Never had any issues with leverage as I always stick to lower leverage, so I think I am good.

True, I too believe investing with offshore brokers won’t affect the funds. As a matter of fact, opening an account with a sizable amount to invest would be a more profitable option.

Thanks guys! Because I’m really considering moving my accounts with IC Markets to Seychelles and Pepperstone to The Bahamas as my strategy really depends on higher leverage (scalping).
Personally I’ve had offshore accounts with XM & XTB in Belize and I’ve never had withdrawal issues with them.

I’m quite apprehensive regarding scalping though that often requires a high leverage amount to generate profits and control risk. With low leverage offshore accounts, scalpers will indeed have to revamp their strategies

Well I don’t scalp all the time, but I do when I find a good opportunity. That’s why it’s good to have the option of high leverage.

You’re right here. It’s all about being pro-active and checking the legalities involved, taxation process, and regulatory implications. I suppose a comparison with the local broker and an offshore can give a pretty clear picture.
It was my brother who motivated me to forex trade. From what I understood from his trading strategies, is to have an account with offshore brokers because that’s a gateway to diverse financial incentives. He’s been working with ICM and turnkeyforex and doing pretty good.

Offshore brokerage doesn’t really make a difference till the time you’re clear about their terms and conditions. Till the time you’re happy with the deposit and withdrawal policies, trading won’t be a problem.