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ESMA and its implication

ovisun
Jul 19 2018 at 11:25
게시물441
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
MicF
Jul 19 2018 at 12:01
게시물95
I just transfered my account from Corespreads UK to Corespreads Australia.
... not an issue!
Tiffany (TiffanyK)
Jul 19 2018 at 14:50
게시물427
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 !?
Accept the loss as experience
vontogr (togr)
Jul 20 2018 at 06:35
게시물4862
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
Pipperidge
Jul 20 2018 at 09:00
게시물13
@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.
ovisun
Jul 20 2018 at 09:54
게시물441
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
Gold101
Jul 20 2018 at 11:41
게시물13
Will IC still accept EU citizens or are they band now?
MicF
Jul 23 2018 at 06:55
게시물95
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.
vontogr (togr)
Jul 23 2018 at 08:12
게시물4862
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
niceGLer
Jul 29 2018 at 11:10
게시물170
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?
vontogr (togr)
Jul 30 2018 at 13:21
게시물4862
So it has started.
My ActivTrades account changed leverage from 1:500 to 1:30.
Kiara (Kiara)
Jul 31 2018 at 10:25
게시물5
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.
niceGLer
Aug 02 2018 at 06:43
게시물170
Thanks for the tip! I just hastily checked their web page, and it looks promising!
vontogr (togr)
Aug 02 2018 at 08:50
게시물4862
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.
Kiara (Kiara)
Aug 02 2018 at 11:32
게시물5
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?
Tiffany (TiffanyK)
Aug 03 2018 at 06:55
게시물427
With these ESMA changes the Aussie brokers hit the jack pot... :)
Accept the loss as experience
niceGLer
Aug 03 2018 at 07:26
게시물170
There is an article, which in my opinion, is pretty good.
Link follows:

https://www.forex-central.net/forum/viewtopic.php?id=2689

FrozenIcecream
Aug 05 2018 at 05:46
게시물8
TiffanyK posted:
With these ESMA changes the Aussie brokers hit the jack pot... :)

Can EU traders use Aussie brokers now or are they restricted?
ovisun
Aug 05 2018 at 05:49
게시물441
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.
MicF
Aug 06 2018 at 14:11
게시물95
... 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.
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