Australian Broker Rubix FX Rebrands as FXTRADING.com

Rubix FX, an Australian broker registered under the name Gleneagle Securities, today announced the business' rebrand to FXTRADING.com, effective today.

The rebranded broker will encompass all of Rubix FX's regulatory profiles around the globe. With no significant action needed by clients and partners, it will continue to operate under both Gleneagle Securities (Aust) Pty Limited, which is authorized by the Australian Securities and Investments Commission and Gleneagle Securities Pty Limited, regulated by the Vanuatu Financial Services Commission (VFSC).

"To rapidly pursue our goals of global expansion in the retail and institutional FX trading industry, we have acquired the premium domain name and brand FXTRADING.com to represent our organization's core values and industry leading products and services into the future," Jonathan Wine, a company representative said.

The change will be fairly subtle, although all existing client and partner accounts will automatically transition to the new FXTRADING.com brand.

ASIC preparing to flex its new regulatory muscles

Having opened its doors for business in 2014, Rubix FX is one of the oldest foreign exchange brokers in the region. Although it's not clear what is behind the move, it comes as the industry awaits the finalization of ASIC's proposed administration of its product intervention powers, which promptly demanded a huge data collection.

The Australian financial watchdog has kicked off its largest swipe against the sale of risky investments to retail investors, but industry players are claiming that they already operate in compliance with most of these restrictions.

The corporate regulator has been preparing to flex its new regulatory muscles after a recent review found in 2018 alone 80 percent of binary traders and 72 percent of clients who traded CFDs, lost money. Retail traders lost nearly $490 million and $1.5 billion a year in trading binary options and CFDs, respectively, according to ASIC data.

Still, the regulatory updates, which will include Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term limits, margin closeout rules, and Negative Balance Negative Balance In its most basic form, a negative balance represents an account balance in which debits exceed credits. A negative balance indicates that the account holder owes money. A negative balance on a loan indicates that the loan has not been repaid in full, while a negative bank balance indicates that the account holder has overspent.In the retail brokerage space, this phenomenon occurs when a position’s losses in an account exceeds the available margin on hand from a given trader. When a trader place In its most basic form, a negative balance represents an account balance in which debits exceed credits. A negative balance indicates that the account holder owes money. A negative balance on a loan indicates that the loan has not been repaid in full, while a negative bank balance indicates that the account holder has overspent.In the retail brokerage space, this phenomenon occurs when a position’s losses in an account exceeds the available margin on hand from a given trader. When a trader place Read this Term protection, are anticipated to affect fortunes of local brokers from their Australian customers.