ASIC cancelled Trive Financial Services Australia’s AFS licence from 1 July 2026. The article reviews the regulatory basis, licence history, CFD sector review findings and trader checks.
Trive’s Australian AFS Licence Cancelled in July 2026
The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services (AFS) licence of contract for difference (CFD) issuer Trive Financial Services Australia Pty Ltd, with the decision taking effect from 1 July 2026. The regulator disclosed that the licence was cancelled because Trive no longer carries on a financial services business in Australia.
The decision marks a substantive change to the licensed financial services status of Trive in Australia. For users who rely on Australian regulatory credentials to identify a platform entity, the licence cancellation means subsequent checks should not stop at the brand name. They should further confirm the specific account-opening entity, regulatory number, registration status and service jurisdiction.
(Source: ASIC,ASIC cancels AFS licence of CFD issuer Trive, published: 2026-07-09, paragraph themes: licence cancellation, effective date and reason for cancellation.)
Grounds for Cancellation and Review Channel
Under section 915B(3)(a) of theCorporations Act 2001, ASIC may suspend or cancel an AFS licence if a body corporate ceases to carry on its financial services business. The regulatory announcement shows that Trive’s cancellation record has been entered on ASIC’s Professional Registers, and Trive may apply to the Administrative Review Tribunal for a review of ASIC’s decision.
From a regulatory process perspective, this type of licence cancellation is not equivalent to a finding on a single client complaint, nor does it directly amount to a judgement on all historical trading outcomes. It primarily reflects the regulator’s determination of whether the licensed entity is still carrying on a financial services business in Australia, while also requiring relevant market participants to re-check the validity of Trive’s Australian licence.
Trive Licence History and Company Name Changes
Public information shows that Trive held an AFS licence from 24 July 2012, with licence number 424122. The company was incorporated on 25 June 2012 and had previously used two company names before adopting the name Trive Financial Services Australia Pty Ltd.
(Source: ASIC,ASIC cancels AFS licence of CFD issuer Trive, published: 2026-07-09, paragraph themes: licence number, licensing date and historical company names.)
Historical Names Show Continuity of the Business Entity
From 25 June 2012 to 29 July 2018, the company name was ILQ Australia Pty Ltd.
From 30 July 2018 to 19 December 2023, the company name was Fairmarkets Trading Pty Ltd.
After 19 December 2023, the company name was changed to Trive Financial Services Australia Pty Ltd.
In financial services checks, historical company names have practical significance. Some trading platforms may continue to use existing client materials, product documents or marketing materials after a brand change, entity restructuring or regional business adjustment. When conducting checks, users should consider the current name, former names, licence number and registered entity at the same time, and avoid judging regulatory status solely from brand presentation.
ASIC Sector Review Included Trive in Its Sample
Trive was one of 52 licensed CFD issuers assessed in ASIC’s recent sector-wide review of the Australian CFD industry. ASIC stated that, after serious deficiencies were found in some of Trive’s processes, the company agreed in April 2025 to stop accepting new clients.
In the sector review published in January 2026, ASIC said the regulator had secured almost AUD 40 million in refunds for more than 38,000 retail investors and driven improvements across the Australian CFD industry in target market determinations, client onboarding processes, reporting compliance and monitoring of client trading outcomes.
(Source: ASIC,26-004MR ASIC secures nearly $40 million in refunds to investors and drives change after CFD sector falls short, published: 2026-01-20, paragraph themes: review of 52 licensed issuers, refund amount and industry compliance improvements.)
Review Focused on Product Distribution and Client Protection
ASIC’s review centred on design and distribution obligations (DDO), the product intervention order (PIO), over-the-counter (OTC) derivatives reporting and monitoring of client trading outcomes. The regulator disclosed that a number of issuers across the sector had varying issues in website statements, account-opening questionnaires, target market determinations and transaction reporting.
Target market determination documents need to explain more clearly the client characteristics that make CFD products suitable or unsuitable.
Client account-opening questionnaires need to objectively identify risk tolerance, trading experience, source of funds and investment objectives.
Website content needs to accurately state that the issuer provides CFD products, not the underlying shares, currencies or commodities themselves.
Issuers need to continuously monitor client trading outcomes and cannot rely solely on account-opening questionnaires.
Derivatives transaction reporting needs to improve in accuracy and avoid long-running errors or outdated reports.
Key Timeline and Sector Data
| Date | Event | Key Data | News Significance |
|---|---|---|---|
| 2012-06-25 | Trive-related Australian entity incorporated | Former names include ILQ Australia Pty Ltd | Shows that the Australian entity has a relatively long corporate history |
| 2012-07-24 | The company obtained an AFS licence | Licence number 424122 | This number is core information for checking its Australian financial services credentials |
| 2024 financial year | ASIC reported retail CFD client outcomes | 68% of retail clients incurred losses, with net losses of about AUD 458 million | The regulator emphasised the complexity of CFD products and the risk of losses for retail clients |
| 2024-10 to 2025-12 | ASIC conducted a CFD sector review | Covered 52 licensed CFD issuers | The review covered target markets, onboarding processes, reporting compliance and monitoring of client outcomes |
| 2025-04 | Trive agreed to stop accepting new clients | ASIC said serious deficiencies existed in some of its processes | The action shows that Trive had already entered the regulator’s remediation focus |
| 2026-01-20 | ASIC published the outcomes of its sector review | Almost AUD 40 million was secured in refunds, involving more than 38,000 retail investors | The regulatory review drove compliance adjustments across the sector |
| 2026-07-01 | Cancellation of Trive’s Australian AFS licence took effect | The reason for cancellation was that it no longer carried on a financial services business in Australia | Trive’s Australian licensed status underwent a key change |
Sector Data Reflects a Contraction in the Australian CFD Market
InREP 828 Risky business: Driving change in CFD issuers’ distribution practices, ASIC disclosed that 50 AFS licensees issued CFDs to clients in the 2024 financial year, down from more than 60 in 2021. During the same period, the average quarterly number of active CFD trading clients was 119,300, down 76% from the average quarterly figure of 515,000 in the 12 months before ASIC’s product intervention order took effect in March 2021.
The report also shows that the CFD sector’s clients are mainly retail clients. In the 2024 financial year client structure, retail clients accounted for 94% and wholesale clients accounted for 6%; new clients accounted for 17%, while existing clients accounted for 83%. In terms of client acquisition channels, some issuers have become increasingly reliant on paid online advertising to attract new clients. ASIC has therefore identified marketing statements, client onboarding and target market alignment as important regulatory focus areas.
Impact of the Licence Cancellation on Market Checks
After the cancellation of Trive’s Australian AFS licence, market participants checking the brand or related platforms need to distinguish between the Australian licensed entity and entities in other jurisdictions. Multinational brokers commonly operate through multiple entities, and clients in different regions may correspond to different legal entities, regulators and client agreements. A licence change in one region cannot automatically be extended to entities in other regions, but it does affect the assessment of that entity’s business credentials under the Australian regulatory framework.
(Source: ASIC,ASIC cancels AFS licence of CFD issuer Trive, published: 2026-07-09, paragraph themes: Professional Registers record, Administrative Review Tribunal channel and regulatory priorities for market intermediaries.)
Documents Traders Should Check When Reviewing a Platform
Check the licence status, entity name, licence number and effective records on ASIC’s Professional Registers.
Confirm the contracting entity in the account-opening agreement and determine whether it still belongs to an Australian licensed entity.
Read the product disclosure statement, target market determination and risk disclosure to confirm whether the product is a CFD.
Keep records of deposits, withdrawals, account notices, risk warnings and customer service communications for subsequent enquiries.
If a platform continues to use cancelled or invalid regulatory information in its marketing, further verify whether the displayed information is accurate.
From a regulatory trend perspective, ASIC’s attention to the CFD sector is not limited to the licence status of a single platform. Whether the target market is clear, whether the onboarding process effectively filters clients, whether website marketing is accurate, whether transaction reporting is compliant and whether client losses are continuously monitored have all become regulatory issues facing Australian CFD issuers.
Questions About the Cancellation of Trive’s Australian Licence
When was Trive’s Australian AFS licence cancelled?
Information published by ASIC shows that the cancellation of the AFS licence of Trive Financial Services Australia Pty Ltd took effect from 1 July 2026.
What was the main reason ASIC cancelled Trive’s licence?
The regulatory announcement disclosed that Trive’s licence was cancelled because the company no longer carries on a financial services business in Australia. Under section 915B(3)(a) of theCorporations Act 2001, ASIC may suspend or cancel an AFS licence when a body corporate ceases to carry on its financial services business.
Can Trive apply for a review of ASIC’s decision?
Yes. The announcement shows that Trive may apply to the Administrative Review Tribunal for a review of ASIC’s decision, and the licence cancellation record has also been entered on ASIC’s Professional Registers.
How is this licence cancellation related to ASIC’s CFD sector review?
Trive was one of 52 licensed issuers assessed in ASIC’s sector-wide CFD review. ASIC said that, after serious deficiencies were identified in some of Trive’s processes, the company agreed in April 2025 to stop accepting new clients.
Why does ASIC classify CFDs as high-risk products?
CFDs allow investors to speculate on price movements without holding the underlying assets such as shares, currencies or commodities. These products typically involve leverage and trading costs, and even small price movements may magnify losses. ASIC therefore classifies them as high-risk financial products.
