ASIC Cancels Trive's Australian License as Broker Winds Down

ASIC has cancelled the Australian financial services licence of Trive's local unit, effective 1 July 2026, because the CFD issuer "no longer [carries] on a financial services business" in the country.

The broker, which held its AFS licence since 2012, had operated under names including ILQ Australia and Fairmarkets before rebranding as Trive after a global merger with GKFX. It stopped onboarding new clients in April 2025 and subsequently ceased all Australian operations.

The cancellation follows an ASIC review of 52 CFD brokers between October 2024 and December 2025, which uncovered serious deficiencies in some firms' processes. Trive is also consolidating globally—it has exited the UK but expanded in South Africa.

ASIC's wider review found that more than 38,000 retail traders received about AU$40 million in refunds. The regulator also reported that 68% of Australian retail CFD investors lost money in 2024, with total losses exceeding AU$458 million.