Trade with a licensed broker
We know that being licensed is important for gaining your confidence. That is why we’d like to take the time to explain how both the Australian Securities and Investment Commission (ASIC) and the New Zealand Financial Markets Authority (FMA) works and make sure you know the facts and have peace of mind.
ASIC is Australia’s corporate, markets and financial services regulator. ASIC is an independent Commonwealth Government body, established under the Australian Securities and Investments Commission Act (ASIC Act). As the financial services regulator, ASIC license and monitor financial services businesses to ensure that they operate efficiently, honestly and fairly.
ASIC licence – understanding the facts
In order to be licensed by ASIC, MahiFX needs to adhere to a comprehensive list of strict rules and regulations. ASIC performs frequent checks to ensure businesses are fully compliant. ASIC has the right to fine companies and/or terminate a company's regulatory status for any violations.
About the FMA
The FMA enforces securities, financial reporting, and company law as they apply to financial services and markets in New Zealand. The FMA is an independent Crown Entity that was established in 2011 under the Financial Markets Authority Act 2011 (FMA Act). The FMA’s main objective is to promote and facilitate the development of fair, efficient and transparent financial markets.
FMA licence – understanding the facts
MahiFX is licensed as a derivatives issuer in respect of a regulated offer of derivatives as per the Financial Markets Conduct Act 2013 (FMC Act). As a licensed derivatives issuer, MahiFX have on-going obligations to meet and maintain certain minimum standards, comply with regulations, monitor compliance, and meet reporting obligations. The FMA has the right to fine companies and/or terminate a company's regulatory status for any violations.
Segregation of funds
Under both ASIC and the FMA client money rules, MahiFX is required to segregate all retail client funds from our own funds. This separation of accounts ensures that, if MahiFX becomes insolvent, your money can not be claimed by it’s creditors. MahiFX holds all client funds in segregated trust accounts with National Australia Bank Ltd (NAB). NAB is a AA rated bank that is regulated by the Australian Prudential Regulation Authority.
It’s also important to know that both ASIC and the FMA requires licensed businesses to maintain minimum net tangible asset and liquidity requirements at all times to ensure businesses remain financially stable. MahiFX are required to submit financial reports to ASIC and the FMA on a regular basis.
Operating efficiently, honestly and fairly
We put your interests at the centre of our business to ensure we comply with both the ASIC and FMA principles of operating efficiently, honestly, fairly and transparently.
Best Trading System for
our FX trading platform at
the FSTech Awards 2013