Does ASIC regulation cover me if I’m in Europe? I signed up with fpmarkets and see they have it but not sure. I want to trade with a broker where I’m protected – anyone?
Far as I know the protection offered by the regulator only extends to brokers registered within the boundaries of that jurisdiction, so brokers in the EU have to comply with ESMA regulations overall, though there are also national regulations in different EU countries which cover issues not addressed by ESMA and which can be more strict or less strict depending on which country the broker’s registered to trade in.
ASIC protection from outside the EU does not travel with the client. But what specific protection are you most concerned about? - it might be provided anyway under ESMA or by the national regulators.
Yes FP markets is regulated by ASIC and you can trade with them even from Europe. They allow 10 different base currencies for depositing into your trading account.
I’m in the EU and still trade under ASIC with FP Markets. I’ve never had issues with FP in terms of protection, they’ve got segregated accounts in Australian banks who in general are very reliable and safe. Bank wire withdrawals are received within 5 business days. Overall I’m satisfied with ASIC, you can’t get away with scamming if you’re regulated by them.
which regulation you mostly like for the traders who are particularly beginners ?
You mean recently or in general?