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ESMA and its implication

emotionaltrader
Aug 24 2018 at 06:10
99 posts
I'm a little wary about trading with an overseas broker, mainly because I'm worried about access to my money etc. Furthermore, I feel it will not be long before ASIIC Brokers fall into line with Europe & USA. US introduced leverage restrictions some years ago, Europe has followed and next should be Australia so enjoy it whilst you can.

These new restrictions imposed by ESMA are for a trial period of 3 months, but I don't believe that for a minute. I think there here to stay and say that because brokers have spent loads updating their websites, informing clients etc.


Happy Investing!!!

jamesgwyther
Aug 24 2018 at 06:11
289 posts
Pipperidge posted:
arcadio posted:
freaking ESMA is a killer for regulated European brokers. For now they are still ok because they converted some of their existing clients into Profesional clients. But as the leverage is only 1:10 on most instruments I dont think it will attract the newbies. I believe the future is Australian/offshore brokers.

Or starting to trade cheap real stocks...


DO you trade stocks?

vontogr (togr)
Aug 24 2018 at 06:13
4862 posts
arcadio posted:
freaking ESMA is a killer for regulated European brokers. For now they are still ok because they converted some of their existing clients into Profesional clients. But as the leverage is only 1:10 on most instruments I dont think it will attract the newbies. I believe the future is Australian/offshore brokers.


Yes ASIC brokers are winners
Another example of regulating something which works to make it not work.

jamesgwyther
Aug 25 2018 at 09:57
289 posts
Regulation is coming in more and more with forex and crypto

emotionaltrader
Aug 26 2018 at 06:43
99 posts
Look on the bright side at least you don't need multiple monitors anymore, you can get by on just one. | don't even need the set up above anymore. Like I said, it can no longer be called trading more like investing. Not even worth trading the news on these leverages!!!

ESMA have killed of trading for small retail traders like myself and any future I hoped to have making a daily living from trading. Hope they're proud!!!


Back to the old days when the financial markets were open just for THE RICH FEW!!!


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emotionaltrader
Aug 26 2018 at 06:44
99 posts
THE PARTY CONTINUES FOR THE RICH ELITE!!! For those who have £500,000 laying under the mattress doing nothing...… and they can still get leverage of 500:1!!! Whilst small retail traders like myself can't even trade the S&P 500 cos it's not worth our while. What makes it worse is that those very few RICH ELITE are the very ones who'll crash the market with HFT and specialised algorithms.

Who was responsible for prolonging the 2008 financial crisis - THE RICH ELITE!!! Why, cos instead of investing they withdrew their money and placed it in SAFE HAVENS or put it under their mattresses. They made a mountain out of a mole hill.

Next stop S&P 500 - 3400!!! REMEMBER: You heard it here first!!!

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emotionaltrader
Aug 26 2018 at 06:45
99 posts
https://www.bbc.co.uk/news/business-45288830 Will the US stock market boom continue? YES IT WILL!!! ….but then again I could just be over emotional!!!

vontogr (togr)
Aug 26 2018 at 10:14
4862 posts
There will always be offshore brokers offering 1:500+ leverage.
Though the risk trading with them is much higher.
On the other hand I have good personal experience with tradersway

emotionaltrader
Aug 26 2018 at 10:14
99 posts
I don't understand ESMA's reasoning. You would think that they would have done things the other way around. In other words they would have restricted leverage for the Rich Few and kept leverage as it stands for small retail traders. Think about it: You invest a million @ 1% Interest, you are still able to make an income from that million. Whereas small savers/investors putting their money away make virtually nothing. Furthermore it would ensure the rich few kept their funds invested in the financial markets longer instead of running away at the first sign of trouble!!!

No, this is WRONG and it favours the rich few!!! They get richer by the bucket full whilst the rest of us earn a pittance - feed on the scraps!!!


£500,000 to be a professional trader!!! How many on here have £500,000 tucked away? I've worked damned hard on my trading and technical analysis for several years and all that time has been wasted.


In my opinion if the UK does leave Europe which is looking very likely, they should take advantage and reintroduce the old leverages and you watch small retail traders in Europe start trading over here cos even Switzerland doesn't fill that gap. Just like small traders in Europe are looking to ASIIC regulated brokers!!!

HAPPY INVESTING!!!

emotionaltrader
Aug 26 2018 at 10:19
99 posts
togr posted:
There will always be offshore brokers offering 1:500+ leverage.
Though the risk trading with them is much higher.
On the other hand I have good personal experience with tradersway

Not trading offshore, find it hard enough trusting the FCA and our brokers yet alone foreign regulators and their brokers.

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