Australia's regulator has cancelled the financial services licence of Velos Global Markets, a contracts for difference broker, after the firm stopped actually providing the services its licence covered. The Velos Global Markets licence cancellation, made in September 2025, follows a period in which the firm had gone quiet, offering no services under its authorisation since around May 2024.
The Australian Securities and Investments Commission, ASIC, cancelled the firm's Australian financial services licence on the basis that it had ceased to provide the financial services the licence authorised. Velos Global Markets had stopped offering any service under its licence from about May 2024, and the cancellation followed more than a year later. On its face this is a quieter kind of case than a fraud finding or a large fine. It still matters.
Why ASIC Targets Dormant Licences
Regulators have grown wary of firms that hold a licence but do little or nothing with it. A dormant authorisation is not harmless. It can sit on a register lending an air of legitimacy to a firm that is no longer meaningfully supervised in practice, and in the worst cases such shells can be revived or repurposed in ways that mislead clients. ASIC has made clear that a licence is a permission to conduct a live, supervised business, not a badge to be parked and displayed. When a firm stops using it, the regulator increasingly moves to cancel it.
For Velos Global Markets specifically, the cancellation records that the firm was no longer operating as a licensed CFD business in Australia. There is a difference between a broker that is actively regulated and running, and one whose licence has been cancelled for inactivity. A client checking a register needs to know which they are looking at, because a cancelled licence offers no protection at all.
The Risk in a Parked Licence
The wider concern is what a dormant or cancelled licence can be used to suggest. Retail traders are often encouraged to check whether a broker is licensed, which is good advice. But a licence that has been cancelled, or one that is being displayed by a firm that no longer really operates under it, can create a false sense of security. The Velos case is a reminder that the status of a licence matters as much as its existence. Regulated once is not the same as regulated now.
There is no suggestion here of the dramatic client harm seen in the worst broker collapses. But the Velos Global Markets cancellation carries a practical lesson that applies everywhere. When you check whether a broker is licensed, check the current status of that licence, not just whether a number exists. A cancelled authorisation means the firm is no longer a supervised business, and no marketing claim can put that protection back.
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Checking That a Broker Has a Licence Is Not Enough
Velos Global Markets held an Australian licence, stopped providing services under it around May 2024, and had that licence cancelled by ASIC in 2025. Regulators are right to clear away dormant authorisations, because a parked licence can lend false legitimacy to a firm that is no longer really supervised.
For a trader, the takeaway is precise. Checking that a broker has a licence is not enough.
Check that the licence is current, because a cancelled one protects nobody, however impressive the number looks on a website.
About the Company
About Velos Global Markets
Regulator
ASIC (Australia)
Cancellation Date
September 2025
Action Type
AFS Licence Cancelled, Inactivity
Inactive Since
~May 2024
Velos Global Markets Pty Ltd was an Australian contracts for difference broker that held an Australian financial services licence authorising it to offer leveraged products to clients. It stopped providing services under that licence from around May 2024, and in September 2025 the Australian Securities and Investments Commission cancelled the licence on the basis that the firm had ceased to provide the financial services it authorised.
Editor's note & source: Factual points are drawn from the ASIC public register. This article is not legal advice. Last updated: 10 August 2026.