When choosing a financial services provider, it is important for you to know how the firm is regulated.
This provides you with peace of mind that any client funds held with the firm are safeguarded and that any trading that the firm carries out on your behalf is in accordance with industry regulations. The team at OMF Markets ensure that all governing regulations are strictly followed and we are always happy to discuss our policies and procedures.
OMF Markets is committed to prioritising the protection of client funds across all of our relationships and we only facilitate our client’s trading with highly rated financial institutions and banks (“Counterparties”).
How OMF Markets is regulated
OMF Australia PTY LTD, trading as OMF Markets, holds an Australian Financial Services Licence (AFSL number 485351) which is issued by the Australian Securities and Investment Commission (ASIC). This requires OMF Markets to meet strict financial requirements and to have a framework of systems and controls around compliance and risk management.
The financial services OMF Markets can provide under this licence are outlined in our Financial Services Guide (FSG).
Safe guarding client funds
It is a legal requirement that client money is held in segregated client funds trust accounts, which are held with a major Australian bank. These funds are held separately from OMF Markets company funds, and legally OMF Markets cannot use these funds for any other purpose than to settle client transactions. OMF Markets is audited by PwC, and regularly reports to ASIC retail client fund balances reconciled to the balances held in our client funds accounts.
Anti-money laundering and counter-terrorism financing framework
OMF Markets is required to comply with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). We have strict procedures in place to minimize the risk that our service could be used for money laundering purposes including:
- Identification of all clients
- Monitoring and reporting of suspicious transactions
- Maintaining records for at least seven years
- Training staff to recognise suspicious transactions
- We do not accept physical cash.
We do not knowingly accept or transfer funds that are related to criminal activity.
Should you have any concern or complaint we encourage you to contact us so it can be resolved. If we can’t resolve your complaint in this instance it will be referred to our compliance manager who will then contact you. You can contact our compliance manager at any time via [email protected]
If after 45 days the complaint has not been resolved to your satisfaction you can contact the Austalian Financial Complaints Authority (AFCA), GPO Box 3, Melbourne, VIC, 3001, Australia.
Ph: 03 9613 3766. For more information about AFCA please visit their website www.afca.org.au
What is the risk?
Refer to our risk disclosure for additional information on general risk and advice
Please feel free to contact us for any further information pertaining to our regulations