Nope. ESMA is disaster for brokers.
I have a system that trades a lot with 4k deposit. So broker made like $300 just on spreads from trading. Now I have to either decrease my trading activity 20x times or leave the broker.
Agree with and i can understand it but I don't understand why ESMA is choking traders.
The whole European Union is about regulation.
Regulation kills the businesses and create working places for bureaucracy
I often say they will regulate so long there will be nothing left to regulate :)
Kinda reminds me of Orwell's 1984 in the making.
We'll regulate everything, including your thoughts.
Personally, I'm not against having some kind of regulation... as long as it's properly set and does not leave obvious loopholes in place like the fact that the rules apply only to EU regulated brokers.
Everything should be done in moderation. Anything brought to the extremes is potentially dangerous and harmful.