A user has asked: Can I open an account without esma restriction in Australia (for example) even If I live in France and have the benefit of high-leverage trading?
GBG: You may be better off opting to become an elective professional if appropriate.
There is some info on professional status here.
Trader: I don’t have conditions for this. Do you know some serious brokers no esma. I’m with fxpro for the moment but I don’t want to block a lot of money on a broker account
GBG: It depends on the broker really. Smaller brokers like TradeDirect365 is based in Australia and will take UK and European clients.
- Need an Australian broker? Compare Australian trading and investing platforms here.
However, a quick look on the Pepperstone FAQ page gives the fairly definitive answer: NO
Can my account be migrated to the Australian office (ASIC)?
No, under FCA regulations, if you reside in the EEA you can only be serviced by Pepperstone UK (Pepperstone Limited).
What if I own property outside of the EEA, can I migrate my account to the Australian office (ASIC)?
No, Pepperstone UK (Pepperstone Limited) services all EEA clients, whether national or residents of EEA countries. If you are dual-citizen of Australia and have an address in Australia, you are required to reside at that address and provide proof of that address. The same applies to any other country or jurisdiction globally.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
