XM's parent company, Trading Point of Financial Instruments Pty Ltd. is now regulated by Australian Securities and Investments Commission (ASIC) with license number 443670.
In an email sent to clients yesterday (20/2), forex broker XM announced that their parent company, Trading Point of Financial Instruments Pty Ltd., now regulated by Australian Securities and Investments Commission (ASIC) with license number 443670. ASIC is one of the most respected financial authorities in the world and XM are, quite rightly, seemed to be proud of this achievement.
This latest development enhances XM's reputation as one of few brokers who have received stamp of approval from various authorities around the world. Apart from ASIC, XM also regulated by New Zealand's Financial Service Provider (FSP), Cyprus Securities and Exchange Commission (CySEC), and UK's Financial Services Authority (FSA), among others. In the same email, XM reiterated their commitment to provide fair and transparent trading environment for their clients.
This new license marked XM global expansion to the East. According to forexmagnates' interview with XM's Marketing Director, they expect this new license to help XM focus on Asia-Pacific as Australia is considered as regulatory hub in Asian countries. Apparently, more and more forex brokers targets Asian countries to expand their market and attract new clientele.
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