OX Securities review
OX Securities Pty Ltd holds a real ASIC licence, AFSL 438402, issued in 2013. The licence authorises its activities to wholesale clients. The international website is operated by a separate St Vincent company that states it is not regulated by ASIC, and asks visitors to confirm they are not in Australia.
| Verdict | caution |
|---|---|
| Regulators | ASIC (wholesale only) |
| Platforms | MT4, MT5 |
| Refuses | Australia |
OX Securities has a genuine Australian licence. That is unusual enough among the brands we cover to lead with, and it is also where the interesting part starts, because the licence does not say what most readers will assume it says.
What the ASIC licence actually authorises
From the ASIC licensee dataset, which publishes the full authorisation text for every holder. OX SECURITIES PTY LTD, AFS Licence 438402, ABN 71163551602, licensed since 31 July 2013, registered in Chatswood, New South Wales.
The authorisation reads:
This licence authorises the licensee to carry on a financial services business to: provide general financial product advice for the following classes of financial products: derivatives; and foreign exchange contracts; deal in a financial product by: issuing, applying for, acquiring, varying or disposing of a financial product […] and make a market for the following financial products: foreign exchange contracts; and derivatives; to wholesale clients.
Those last three words carry the whole clause. Under Australian law a wholesale client is broadly a business or an investor above set asset and income thresholds; retail clients are everyone else, and they get the consumer protections that come with that status.
The licence covers derivatives and FX dealing to wholesale clients. It does not authorise those activities to retail clients.
The website is a different company
The international site states its ownership plainly in the footer:
This website is owned and operated by Ox Securities Ltd with registered office address: Suite 305, Griffith Corporate Centre, Beachmont […]
That address is in St Vincent and the Grenadines. The same site carries a jurisdictional disclaimer:
Ox Securities Ltd Global (SVG) is a separate legal entity and is not authorised or regulated by the Australian Securities and Investments Commission (ASIC) to provide financial services
And it asks visitors to confirm they are not accessing the site from Australia.
Read together, the arrangement is coherent and legal. The Australian company serves wholesale clients in Australia under its licence. A separate St Vincent company serves everyone else, outside that licence. Nothing is being concealed; the disclaimers are on the page.
What it means for a reader is simple. If you sign up through the international site, your counterparty is the St Vincent company, and AFSL 438402 has nothing to do with your account. The Australian licence is real, current, and not yours.
Why this pattern is worth recognising
It is the most common structure in this industry, and the one that “regulated by ASIC” marketing relies on. A group holds one respectable licence, and routes most clients to an entity that licence does not cover. We saw the same shape at FinPros, where an Isle of Man company owns the domain and a Seychelles company holds the contract.
The test is always the same and takes a minute: which company is named on the client agreement you are about to sign, and does that company appear on the regulator’s register?
Registers we hold in full
| Register | Result |
|---|---|
| ASIC (Australia), 6,525 licensees | AFSL 438402, OX Securities Pty Ltd, wholesale clients |
| CySEC (Cyprus), 248 investment firms | not found |
| FCA register, incl. unauthorised firms | no entry, checked 12 August 2026 |
The St Vincent entity appears in none of them, which is expected: St Vincent stopped issuing forex-specific authorisations and does not supervise brokers in the way ASIC does.
What we checked, and what we didn’t
We read the firm’s website and disclaimers and pulled the full licence text from ASIC’s own dataset rather than from any summary. We have not opened an account, deposited money, or tested spreads, execution, withdrawals or support.
Two questions worth answering before funding anything here. Which entity appears on your client agreement, the Australian one or the St Vincent one? And if it is the Australian one, are you being onboarded as a wholesale client, and do you actually meet the statutory test for that classification?
Sources
- ASIC Financial Services Licensee Register — AFSL 438402
- OX Securities — jurisdictional disclaimer and site ownership
- CySEC — register of Cypriot investment firms
- FCA — Financial Services Register