ASIC regulated is only better than some other overseas brokers in countries with poorer regulations placed on the broker by their regulator.
Fraud by the directors , dipping in to the segregated accounts still happens with brokers which are ASIC regulated. (MF Global, BBY, many others probably).
BBY still waiting for any payment to creditiors (Segregated account monies) , 3 years after its collapse.
The liquidators always take so long.
I wonder what is the point of the segregated account as that pool is supposed to be seperate from the company but still takes years to get any money back.
Very poor and way too slow. No doubt for lawyers to get their money while intentionally taking far too long to settle something that would take any smart financial professional like 1 or 2 months easily. Especially when creditors, and ME, have said just take the 10% HAIRCUT and give us back our funds so we can move on and keep trading!!!