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As per the link below, the only sanctions currently in place re Myanmar concern the arms industry, which is clearly irrelevant to the current situation:
The broker specializes in forex trading and CFD products. With transparent market access with the robust and reliable trading platforms including the MetaTrader 4 MT4 and MetaTrader 5 MT5 platform, traders at Vantage FX can be assured of a fulfilling trading experience with this broker. ASIC is one of the leading financial regulatory bodies in the southern hemisphere.
AISC is tasked with protecting all relevant parties such as creditors, consumers, and investors within the context of the Australian financial industry. Hence, the broker is committed to upholding the highest standards with regards to regulatory compliance. It should be noted that the standards imposed by ASIC upon entities under its jurisdiction are considered to be the international regulatory benchmark.
Vantage FX is also independently audited by the leading accountancy firm KPMG to ensure its compliance with the industry standard. Developed by MetaQuotes Software, the MT4 is the most widely adopted trading platform among the forex brokers in the industry. The platform also comes with a powerful charting package that is unrivaled in the industry.
In addition, the MT4 platform also supports automated trading and signal trading. While the MT5 platform has all the popular and powerful features that are found on the MT4 platform, the features are improved upon in the MT5.
It supports a wide array of market orders and has the ability to hedge market positions. I pointed out to him that this was complete rubbish. Despite calling his bluff, he continued to repeat one stupid comment after another. He obviously has very limited knowledge, who parrots standard lines like a broken record in an attempt to bluff people with even less knowledge than him.
In fact, ANZ, one of the biggest Australian banks, has an office in Myanmar, affording complete proof that Australian companies most certainly can and do provide financial services to Myanmar. For example, Myanmar banks now offer MasterCard and Visa cards, confirming US financial services companies can do business with Myanmar.
I emailed a complaint to their Head of Compliance Jacob Beli , politely advising the above facts, querying why in these circumstances Vantage is unable to open an account for me. No response was received. If this incident is any indication of their complete lack of professionalism, steer clear and give your business to a more professional provider who doesn't look so hard for reasons NOT to do business with people, and who has the courtesy to respond to reasonable complaints.
Our compliance procedures are robust, updated on a regular basis, and in place for very good reason. In fact, refusing to service clients residing in Myanmar is a policy that is shared amongst every Australian regulated Forex broker.
After reaching out to you to explain the situation, you not only responded with further hostility, but resorted to rudeness and name calling. Whatever the reason, using your title to justify individual exemption from our compliance policies or to demonstrate superiority over our support staff is quite simply, unacceptable.
We are fulfilling our licensing and compliance obligations to the highest standards and as such, Myanmar remains a country that we, and other Australian regulated brokers are unable to service. Hi Andrew, Once again, we reiterate our stance by practicing the industry-wide refusal to service Myanmar, a policy practiced by Australian-regulated Forex brokers, nationwide.
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