New ASIC Regulations and How They Affect Forex Traders

Podcast:

#400: New ASIC Regulations and How They Affect Forex Traders

In this video:
00:24 – I’m joined by Ben Clay from Blueberry Markets
00:43 – Why are ASIC making these changes?
01:43 – If you have more experience, will these levels change?
03:12 – How does this affect Australian traders?
04:00 – How will these changes affect non-Australian traders?
05:35 – I’m looking for a new broker. Can I join Blueberry?
06:11 – What should you look for in a good Forex broker?
07:36 – Can a trader contact you directly?
09:21 – A goal to help people succeed

Andrew Mitchem:
There are new changes coming from the Australian regulators affecting us as Forex traders. So let’s discuss how that’s going to change things with the Australian brokers. Let’s get into it right now.

Andrew Mitchem:
Hi traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 400.

I’m joined by Ben Clay from Blueberry Markets

Andrew Mitchem:
And today we’re joined by Ben Clay from Blueberry Markets to discuss the upcoming changes through ASIC and how it’s going to affect us as traders, whether we be in Australia or overseas. So Ben, welcome, great to have you here today.

Ben Clay:
Thank you, Andrew. Thanks very much.

Why are ASIC making these changes?

Andrew Mitchem:
So Ben, we’re here about these changes out of ASIC, so it’s the Australian Securities and Investment Commission. So can you tell us how is this likely to affect us? And first of all, why are ASIC making these changes? What is it that they’re doing and why are they doing it?

Ben Clay:
Sure. So essentially the changes are mainly to protect traders at the end of the day, especially new traders coming on board. There’s a lot of new traders that come into brokers on one to 500 leverage, the maximum leverage that can be offered and that’s just too much risk for someone who doesn’t know anything about the Forex m