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ESMA and its implication

ovisun
Jul 19 2018 at 11:25
428 postów
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
95 postów
I just transfered my account from Corespreads UK to Corespreads Australia.
... not an issue!

Tiffany (TiffanyK)
Jul 19 2018 at 14:50
427 postów
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
4862 postów
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
13 postów
@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
428 postów
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
13 postów
Will IC still accept EU citizens or are they band now?

MicF
Jul 23 2018 at 06:55
95 postów
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
4862 postów
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
165 postów
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?

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