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Arcferreira

Member Since Mar 02, 2017  26 posts Allan (Arcferreira) Dec 27 2017 at 07:48
mlawson71 posted:
When picking a broker keep in mind that ESMA, aka the European Securities and Markets Authority, is about to impose new restrictions on the industry in order to better protect retail clients. (https://www.forexbrokerz.com/news/FXCM-IG-Group-support-ESMAs-restrictions-on-leverage-binary-options-but-also-voice-concern) Recently it outlined its intentions to cap the leverage on forex and CFDs to anything between 1:5 and 1:30, depending on the volatility of the underlying product. Additionally, ESMA is planning a blanket ban on the distribution and marketing of binary options products across the EU. Most major brokers seem to be tentatively supportive of the new rules, but also voice various concerns.


Exactly... but I believe Swiss and UK brokers will not follow these rules...

Trade safely... Remember, a high Drawdown means a high risk!
mlawson71

Member Since Dec 11, 2015  1326 posts mlawson71 Dec 28 2017 at 16:27
I am not sure about the Swiss, but I can say for certain that the UK won’t be following those rules.
Obviously they’ll be making their own decisions because of Brexit. Also, the FCA recently announced that from January 3, 2018 it is taking over the regulation of the binary options brokers.( https://www.forexbrokerz.com/news/UKs-FCA-to-regulate-binary-options-brokers-from-2018) Until now, the binary options companies in Great Britain were overseen by the Gambling Commission. The new state of things would mean that the binary options brokers will be authorized and supervised by FCA, individual complaints will have to be referred to the Financial Ombudsman Service and consumers will have access to the Financial Services Compensation Scheme.
Obviously that means they're not about to ban binary options.

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FX Reserves, USD (12 min)
USD/JPY finds some support near mid-110....(11 min ago)
EURUSD 1.22695 GBPUSD 1.39037
USDJPY 110.658 USDCAD 1.24186
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