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AUGS Markets Pty Ltd was founded in 2011 and is headquartered in Sydney, Australia. AUGS is licensed and authorized by the Australian Securities and Investments Commission (ASIC) under license number 374686.
Trading assets include currency pairs, commodities, and indices. The minimum spread for the EUR/USD pair is 1.4 pips for the Standard account and near zero for the ECN account.
While the European Securities and Markets Authority (ESMA) capped the maximum leverage allowed of major currency pairs at 1:30, the ASIC-regulated companies still can offer virtually unlimited leverage.
Customers can trade through the platform MetaTrader 4 (MT4). It is one of the most popular online trading platforms available today, with a range of useful features such as real-time trading, technical analysis tools, various trade execution types, variety of technical indicators, and automated trading tools. There is no minimum deposit required. Clients can feed their accounts by credit/debit card or by bank wire.
The Product Disclosure Statement document informs that stop loss orders may not be executed at all and their execution is subject to market volatility and slippage. If the opening price of the underlying currencies and metals market is beyond the level of the client’s stop loss order, it will be filled at the opening level, not at the stop-loss order level. The same document reveals that your potential losses may exceed the amounts you pay as margin. In addition, your potential losses may be unlimited. It is also written that the company is a market maker and enters with you as a principal. The company states the price at which it is prepared to deal with a client as principal. Trading with AUGS Markets carries an automatic risk of actual conflicts of interests because it is acting as principal in its products with you and sets the price of them.
We can conclude that this company combines struct regulation and competitive trading conditions. However, there is no negative balance protection and you can lose more than you have in your account.