Global Broker Regulation Inquiry App
WikiFX
Imranali Khatri 
1-2 years
Is OpenMarkets a safe place to trade given its regulatory status?
Broker Issues
Regulation
07-16
United States
WikiFX
Reply
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.
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