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ASIC leverage down

togr (togr)
Dec 07 2020 at 10:29
4862 ieraksti
Hi guys,

I got message from multiple Australian brokers.

They are going to cripple leverage the same way ESMA did.

So decrease to 1:30.

What are you going to do?

reggae
Dec 07 2020 at 11:30
52 ieraksti
Ouch.
To be honest, I never had any complaint in doing leverage. I like to stick with lower lever leverage.

Gracewilson1995
Dec 07 2020 at 12:11
147 ieraksti
If you have 2 years of experience, you can then avail leverage 4-500 with some brokers. They call it professional account.

AlberthF
Dec 07 2020 at 12:55
1 ieraksti
But not only that...

Pielikumi


donelderly
Dec 15 2020 at 11:33
22 ieraksti
I don’t really mind using a lower leverage and it just might work for you. Good luck.

Gracewilson1995
Dec 15 2020 at 11:39
147 ieraksti
it should not have much effect. but obviously one has the option to move to an offshore entity.

ddarko3
Dec 16 2020 at 05:22
50 ieraksti
Gracewilson1995 posted:
If you have 2 years of experience, you can then avail leverage 4-500 with some brokers. They call it professional account.

Yeah i checked with fxview they have 500x for professionals but that is not for retailers at all. i think its time to get used to 30x or move to offshores.

Mikk77
Dec 17 2020 at 08:02
1 ieraksti
Hi, if you are not based in Australia, you might consider Global Prime.

I recently spent quite a lot of time searching for a non-ESMA broker that offered bit more than 30:1, but at same time not a bucket shop, and analysing using the excellent Myfxbook tools for looking at spreads and swaps. Filtered down to a short list that looked decent but also offered higher leverage, which basically left me with a few ASIC brokers. Opened some demos. Having read reviews at forexpeacearmy and experiencing their support, I went with Global Prime. Had no idea ASIC was following ESMA, but fortunately as an overseas customer covered by a different license, leverage will stay at 100:1. I think you can apply for 200:1 but they deliberately don't go above that because it leads to blow ups.

The other broker I used to use a bit that is higher than ESMA is Dukascopy Swiss (NOT Dukascopy Europe) - with MT4 their leverage is 100:1, higher with their jForex platform, but there is reduction in leverage over the weekend so need to be careful if you are holding positions.

turnipfollow
Jan 07 at 08:54
27 ieraksti
It doesn’t matter to me much because I prefer trading with low leverage. I find it very risky to use high leverage.

Justin990
Jan 07 at 15:28
15 ieraksti
Any idea on how much ASIC has restricted the leverage down to?

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