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ESMA and its implication
Membro Desde Jan 27, 2013
427 postagens
Jul 19, 2018 at 11:25
(editado há Jul 19, 2018 at 11:27)
togr posted:Pipperidge posted:
@togr
wrong. If you're an European trader you'll have no choice but to register with their EU branch, which means that you will be affected.
The difference is that they'll still provide higher leverage to their other markets/clients outside of the EU.
At the moment, the way I see it - opening an account with a broker in Switzerland (they are not in the European Union) is perhaps the least painful option.
Or fund your account. Which may not be a big issue for people who trade with lower leverages atm (x50-x100) but for ones with >x100 it's a good option. Especially, if you trade with larger lots.
Or apply for a professional trader account. = Losing the negative balance protection and a lot other perks of the retail account
Or going to an unregulated broker.
Or to stop trading because you don't have the equity to fund your account for the lower leverage.
Either way, all the new changes will cause more harm for the small traders than good.
I do trade with that broker. I am in EU yet I have all the advantages not affected by ESMA.
How that come you know that better than me when I trade with them every day?
LOL
You were lucky to have opened your accounts when there were no this discussions about new restrictions. Try to open now an account as a new customer and you are going to have very unpleasant surprises all over the world, almost same as the US citizens.
I do also have accounts at ICMarkets, not in use, but with leverage 1:500
Membro Desde Nov 26, 2016
93 postagens
Jul 19, 2018 at 12:01
I just transfered my account from Corespreads UK to Corespreads Australia.
... not an issue!
... not an issue!
Membro Desde Feb 12, 2016
394 postagens
Jul 19, 2018 at 14:50
Are IC Markets a Market Maker? All they state in the web site is that they are an ECN , it doesn't mean that they execute orders to the market.
I personally don't like this. They might be letting you trade with the higher leverage, but at what expense - slippages and widened spreads !?
I personally don't like this. They might be letting you trade with the higher leverage, but at what expense - slippages and widened spreads !?
Accept the loss as experience
Membro Desde Feb 22, 2011
4573 postagens
Jul 20, 2018 at 06:35
TiffanyK posted:
Are IC Markets a Market Maker? All they state in the web site is that they are an ECN , it doesn't mean that they execute orders to the market.
I personally don't like this. They might be letting you trade with the higher leverage, but at what expense - slippages and widened spreads !?
I have been with them for years and I can confirm they are pure ECN
https://www.myfxbook.com/members/togr/caesaricmarketsusd/1860520
Membro Desde May 23, 2018
13 postagens
Jul 20, 2018 at 09:00
@togr
I was wrong. Got mixed up with another Aussie broker that has an EU branch.
IC Markets don't have one, thus they will not be obligated to register EU traders with the lower leverages.
My bad.
Some other brokers that have EU offices are obligated to register EU traders to them with the esma regulation which is not ideal to say the least.
I was wrong. Got mixed up with another Aussie broker that has an EU branch.
IC Markets don't have one, thus they will not be obligated to register EU traders with the lower leverages.
My bad.
Some other brokers that have EU offices are obligated to register EU traders to them with the esma regulation which is not ideal to say the least.
Membro Desde Jan 27, 2013
427 postagens
Jul 20, 2018 at 09:54
Pipperidge posted:
@togr
I was wrong. Got mixed up with another Aussie broker that has an EU branch.
IC Markets don't have one, thus they will not be obligated to register EU traders with the lower leverages.
My bad.
Some other brokers that have EU offices are obligated to register EU traders to them with the esma regulation which is not ideal to say the least.
For example: Pepperstone
Membro Desde Feb 26, 2018
13 postagens
Jul 20, 2018 at 11:41
Will IC still accept EU citizens or are they band now?
Membro Desde Nov 26, 2016
93 postagens
Jul 23, 2018 at 06:55
Pipperidge posted:
@togr
I was wrong. Got mixed up with another Aussie broker that has an EU branch.
IC Markets don't have one, thus they will not be obligated to register EU traders with the lower leverages.
My bad.
Some other brokers that have EU offices are obligated to register EU traders to them with the esma regulation which is not ideal to say the least.
corespreads is located in the UK.
Membro Desde Feb 22, 2011
4573 postagens
Jul 23, 2018 at 08:12
Pipperidge posted:
@togr
I was wrong. Got mixed up with another Aussie broker that has an EU branch.
IC Markets don't have one, thus they will not be obligated to register EU traders with the lower leverages.
My bad.
Some other brokers that have EU offices are obligated to register EU traders to them with the esma regulation which is not ideal to say the least.
Yes e.g. Pepperstone works like you described
Membro Desde Dec 28, 2013
160 postagens
Jul 29, 2018 at 11:10
What will happen to forex rebate programs? Aren't they falling to the same category with bonuses, which will be prohibited by the new regulations?
Membro Desde Feb 22, 2011
4573 postagens
Jul 30, 2018 at 13:21
So it has started.
My ActivTrades account changed leverage from 1:500 to 1:30.
My ActivTrades account changed leverage from 1:500 to 1:30.
Membro Desde May 15, 2018
5 postagens
Jul 31, 2018 at 10:25
niceGLer posted:
What will happen to forex rebate programs? Aren't they falling to the same category with bonuses, which will be prohibited by the new regulations?
That is a good question. I don't know about other brokers, but I am with USGFX, an Australian broker. And they have confirmed that leverage and rebate programm won't be affected.
Membro Desde Dec 28, 2013
160 postagens
Aug 02, 2018 at 06:43
Thanks for the tip! I just hastily checked their web page, and it looks promising!
Membro Desde Feb 22, 2011
4573 postagens
Aug 02, 2018 at 08:50
niceGLer posted:
Thanks for the tip! I just hastily checked their web page, and it looks promising!
I am managing some usgfx accounts. Seems to be solid broker.
Membro Desde May 15, 2018
5 postagens
Aug 02, 2018 at 11:32
togr posted:niceGLer posted:
Thanks for the tip! I just hastily checked their web page, and it looks promising!
I am managing some usgfx accounts. Seems to be solid broker.
I agree, btw are you using MAM account?
Membro Desde Feb 12, 2016
394 postagens
Aug 03, 2018 at 06:55
With these ESMA changes the Aussie brokers hit the jack pot... :)
Accept the loss as experience
Membro Desde Dec 28, 2013
160 postagens
Aug 03, 2018 at 07:26
There is an article, which in my opinion, is pretty good.
Link follows:
http://www.forex-central.net/forum/viewtopic.php?id=2689
Link follows:
http://www.forex-central.net/forum/viewtopic.php?id=2689
Membro Desde Aug 03, 2018
10 postagens
Aug 05, 2018 at 05:46
TiffanyK posted:
With these ESMA changes the Aussie brokers hit the jack pot... :)
Can EU traders use Aussie brokers now or are they restricted?
Membro Desde Jan 27, 2013
427 postagens
Aug 05, 2018 at 05:49
(editado há Aug 05, 2018 at 05:54)
If that Aussie broker has already an European branch, they have to redirect you to that branch, see Pepperstone and at that branch you'll be faced with ESMA and its restrictions.
So look for brokers without European branches, ask them before opening an account.
This automatic redirecting to European branches is valid for brokers all over the world, not only Aussie brokers.
So look for brokers without European branches, ask them before opening an account.
This automatic redirecting to European branches is valid for brokers all over the world, not only Aussie brokers.
Membro Desde Nov 26, 2016
93 postagens
Aug 06, 2018 at 14:11
... as said before, Corespreads offered me to ransfer my account to their Aussie branch.
So this seems not to be valid for all.
Maybe the law isn't clear enough.
So this seems not to be valid for all.
Maybe the law isn't clear enough.
