Professional standards – FX brokers

Australian Financial Services Licensees ("AFS Licensees") whose advisers provide personal advice to retail clients in a variety of products, including derivatives and/or foreign exchange contracts, are required to meet the education, training and ethical standards for financial advisers.

Training Standards – FX brokers whose staff provide personal advice

There are four education and training standards, three of which are preconditions to being authorised to provide personal advice to retail clients.

The three preconditions which advisers must meet, prior to being authorised, are:

1. Complete an approved qualification as listed in the legislative instrument;
2. Undertake a professional year of work and training that meets the requirements set by Treasury; and