Score
Australia
|
5-10 years
| https://openmarkets.com.au/
Website
Rating Index
Influence
C
Influence index NO.1
Australia 4.12
LicensesLicensed Entity：OpenMarkets Australia Limited
License No. 246705
Australia openmarkets.com.au Australia
VIP is not activated.
| OpenMarkets Review Summary | |
| Founded | 2004 |
| Registered Country/Region | Australia |
| Regulation | ASIC (exceeded) |
| Services | Enterprise APIs, Execution, Managed Accounts, Onboarding, Order Manager, Risk Management |
| Customer Support | Contact form |
| Phone: +61 381997700, +61 1300 769 433 | |
| Email: support@openmarkets.com.au | |
| Address: Level 15, 388 George Street, Sydney NSW 2000, Australia | |
OpenMarkets, founded in 2004 and based in Australia, is a financial services firm formerly regulated by the Australian Securities and Investments Commission (ASIC) under an Investment Advisory License, which is now listed as “exceeded”. The company offers various services such as Enterprise APIs, Execution, Managed Accounts, Onboarding, Order and Risk Management.
| Pros | Cons |
| A wide range of services | Exceeded ASIC license |
| Diverse customer support channels | Lack of info on trading platforms |
| No demo accounts | |
| Limited info on accounts | |
| Limited info on trading fees |
No, at present, OpenMarkets' Investment Advisory License under ASIC has been exceeded.
| Regulated Country | Regulated Authority | Regulated Entity | Current Status | License Type | License Number |
 | Australian Securities and Investments Commission (ASIC) | OpenMarkets Australia Limited | Exceeded | Investment Advisory License | 246705 |
OpenMarkets offers diverse services including Enterprise APIs, Execution, Managed Accounts, Onboarding, Order Manager, and Risk Management.
The absence of current regulation severely impacts the safety of trading with OpenMarkets. Regulation ensures that the firm adheres to a set of standards and rules designed to protect traders, such as client fund segregation, transparent trading practices, and a dispute resolution process. Without such oversight, traders are left with no external protection if the firm faces financial difficulties or acts inappropriately. Personally, the openmarkets login process could still be functional, but the lack of regulation would deter me from committing large sums of money. For a better understanding of the risks, I recommend reading an openmarkets review to get insights into the platform’s operational practices.
The most significant risk when using OpenMarkets is its lack of active regulation. Previously regulated by ASIC, the firm’s Investment Advisory License is now exceeded, which means it no longer complies with regulatory standards in Australia. This makes it harder for traders to have confidence in the firm’s operations, as there is no oversight from a governing body. Additionally, OpenMarkets does not offer a demo account, which could be a drawback for new traders who wish to practice before risking real money. For me, this is a considerable risk, especially since there is limited information about their trading fees and account structures. A openmarkets review would help provide more context on the firm’s reliability and services.
One of the pros of trading with OpenMarkets is that it offers a wide range of services, including enterprise APIs, execution services, and risk management. The firm also has diverse customer support channels, such as phone, email, and social media. However, the lack of an active regulatory license is a major con, as it leaves traders exposed to potential risks. Additionally, the firm does not offer a demo account, which makes it harder for new traders to practice without risking real capital. As someone who values transparency, I would find the openmarkets platform more trustworthy if the firm had clearer information about its fees and accounts. A openmarkets review could help clarify the pros and cons further.
OpenMarkets' regulatory status is a significant concern as it no longer holds an active license. The firm’s previous regulation by ASIC was a positive factor, as ASIC is a well-respected authority in the financial industry. However, with its regulatory license now exceeded, I would be cautious when considering trading with OpenMarkets. The openmarkets login process may be functional, but without regulatory oversight, the platform might not offer the same protections as regulated brokers. A openmarkets review could provide further insights into whether OpenMarkets is still safe to trade with despite the lack of an active license.
Please enter...
TOP 
Chrome
Chrome extension
Global Forex Broker Regulatory Inquiry
Browse the forex broker websites and identify the legit and fraud brokers accurately
Install Now
