Broker ThinkMarkets has launched an option for their clients to transfer accounts to a new entity under Seychelles FSA.
As a regulated forex broker, ThinkMarkets always regularly audited. Therefore, with trading access to more than 1500 stocks, ThinkMarkets always try to maintain their service standards to provide the best for their clients. This March, ThinkMarkets urges their clients to transfer accounts to a new, regulated entity, TF Global Markets Int Ltd.
ThinkMarkets Allows Clients Migrate To New Entity
ThinkMarkets clients can now migrate accounts to ThinkMarkets’ entity that is regulated by FSA (Financial Services Authority) Seychelles, an archipelagic island country in the Indian Ocean.
ThinkMarkets offers a migration option automatically when clients log in to the ThinkPortal page. Clients can choose the option to migrate at any time in the future.
However, this change of course does not affect the rebate structure or the client’s CPA. Open positions, account balances, even equities will continue even when the client switches accounts. Clients trading in this entity will not be affected by the ASIC Product Intervention Order which takes effect March 29. Therefore, ThinkMarkets clients can still maintain their leverage up to a 500: 1 ratio.
The ASIC Product Prevention Order is a policy that imposes provisions on the distribution of CFD contracts to retail clients. The ASIC Order serves to strengthen consumer protection by reducing CFD leverage for retail clients, while also targeting CFD product features and sales practices that amplify retail clients’ CFD losses. These rules make Australian regulations in line with other regulations that apply around the world.