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Bank First's exceeded status under ASIC raises concerns about its legitimacy and safety for traders. Although it is regulated by ASIC, the exceeded status indicates that the company might not be complying with current regulations. For someone like me who values transparency and security, I would be hesitant to fully trust this platform. It's important to consider that while Bank First offers a range of services such as banking, loans, insurance, and financial planning, its status could make it riskier than other fully regulated brokers. If you're looking for bank first stock trading options, it’s essential to evaluate the risks associated with such a platform.