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...
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.
In Forex , the Best Broker is a trading platform which is more appropriate to the concept of trading that will be used , if you love doing scalping should choose the trading platform which does not restrict any trading techniques and permits scalping including lowest trading spreads as well minimum margin requirements without any restrictions. it will be best broker for you
Please without using practically don’t recommend at any broker , because lots of trading brokers are available in this retail market place and most of them are found to be scams. We the traders can choose a broker which is more appropriate to the concept of trading that will be used.
I have seen many traders trade with several brokers, but I don’t like it at all, because that’s very difficult to maintain all accounts at the same time, if the credible broker found I think just one broker is quite enough for ensuring a healthy trading life with surely. Because the broker can affects the result of our trading with certainly
I have seen according to my trading experience by and large regulated trading broker don’t allow scalping in their trading platform, so we the traders fall a great trouble when choosing a broker for scalping in a proper way. So we have to be careful when choosing a broker and have to ensure the broker which allows scalping including lowest trading spreads as well minimum margin requirements.
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