LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
More than two months have passed since North American FX firm Institutional Liquidity (ILQ) suffered a regulatory blow in the United States, with the National Futures Association imposing a fine on the broker and banning it from membership whilst the company was in the process of exiting its home market. By the end of August, however, ILQ showed that it was ready to focus on its Australian operations by unveiling a new website.
Now the efforts to grow the Australian business of the broker are continuing with gusto. As of October 3, 2014, ILQ has its first Australian Financial Services (AFS) licensed representative, Mario Conti. According to the record provided by the Australian Securities and Investments Commission (ASIC), Conti’s representative number is 466325 and he is now authorized to provide general financial product advice, deal in a financial product, and apply for, acquire, dispose of financial products on another’s behalf.
Mario D. Conti is a relatively well recognized figure within the FX industry, renowned for his expertise in the FX technical analysis area. He is a former Board Director and a former Council member of the Australian Technical Analysts Association (ATAA). Currently, the nine trading clubs he founded comprise of more than 1,000 members. Mr. Conti also brings his substantial expertise from executive positions at Bank of America Merrill Lynch where he dealt with portfolio management. Mr Conti currently holds regular webinars and seminar on online trading and analysis, with another of his passions being wealth management via algorithmic trading at MDC Trading which he recently started.
Educational provision has been a subject of mixed virtues over the years, with retail traders faced with having to make informed decisions as to which are bona fide organizations and which are simply in business to relieve them of their money for dubious courses and software and to gain IB commission from brokers. With well known FX industry names such as ILQ and FXStreet now offering courses via their regulated entity and in conjunction with a university respectively, it is clear that traders now have a far better option for educational resources than the back-street independents of old.
However, the broker appears to be enhancing its business in the Antipodes in another way, not only by signing up AFS authorized representatives. ASIC data show that in August this year a new company: ILQ Investments PTY Ltd, emerged, boasting an Australian Company Number 601 182 432. Could it be that this new entity will complement and diversify the business portfolio of ILQ AU Pty Ltd? Only the future will tell.