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ESMA and its implication

emotionaltrader
Aug 07 2018 at 06:52
100 príspevkov
I'm being forced into taking losses which was something I never used to have to do. I could go 30/50 trades without taking a loss and now I'm being forced into taking losses. Only ones benefitting from the ESMA rulings are the brokers etc!!!
emotionaltrader
Aug 07 2018 at 06:53
100 príspevkov
ESMA - One Rule for the Rich Few and another Rule for everybody else!!! In a market everybody is treated the same, basically this is a market for the privileged few - pre Big Bang & Maggie Thatcher days. Just different!!! https://en.wikipedia.org/wiki/Big_Bang_(financial_markets)
vontogr (togr)
Aug 07 2018 at 08:56
4862 príspevkov
emotionaltrader posted:
I'm being forced into taking losses which was something I never used to have to do. I could go 30/50 trades without taking a loss and now I'm being forced into taking losses. Only ones benefitting from the ESMA rulings are the brokers etc!!!

 Even brokers in Europe are losing clients
Cappucinotrader
Aug 07 2018 at 10:02
10 príspevkov
I am worried this is the end of retail Forex in Europe. I have a small account and I just can't see how I can make any meaningful money now with these stupid restrictions. What is the point trading 0.01 Lot
Kiara (Kiara)
Aug 07 2018 at 10:17
5 príspevkov
You can still change to an ASIC regulated broker. The one I am using accepts Europeans, USGFX.
NotyaBusiness
Aug 07 2018 at 12:54
19 príspevkov
I don't mind the ESMA ruling. Yes it will require more funds to trade with to actually make money but knowing the fact that nearly 80% of Forex traders lose money - while brokers do make profit - ESMA did a favour for small time players. Big time players can still go with large risks but people with smaller accounts will not lose much with mistakes now. And mistakes are more frequent than getting things right.
The man who wants nothing is invincible.
vontogr (togr)
Aug 07 2018 at 14:02
4862 príspevkov
NotyaBusiness posted:
I don't mind the ESMA ruling. Yes it will require more funds to trade with to actually make money but knowing the fact that nearly 80% of Forex traders lose money - while brokers do make profit - ESMA did a favour for small time players. Big time players can still go with large risks but people with smaller accounts will not lose much with mistakes now. And mistakes are more frequent than getting things right.

People with small amount will suffer a they will have to move offshore to be able to trade.
NotyaBusiness
Aug 07 2018 at 14:18
19 príspevkov
togr posted:
NotyaBusiness posted:
I don't mind the ESMA ruling. Yes it will require more funds to trade with to actually make money but knowing the fact that nearly 80% of Forex traders lose money - while brokers do make profit - ESMA did a favour for small time players. Big time players can still go with large risks but people with smaller accounts will not lose much with mistakes now. And mistakes are more frequent than getting things right.

People with small amount will suffer a they will have to move offshore to be able to trade.

Not necessarily. It depends what they are looking for. High risk/high return or low risk/low return? ESMA ruling is not taking away the opportunity to beat any banks' or ISA's saving offers, but it makes it safer. 80% of traders lose money. ESMA helps those people to lose less money.
The man who wants nothing is invincible.
ovisun
Aug 07 2018 at 14:41
439 príspevkov
NotyaBusiness posted:
togr posted:
NotyaBusiness posted:
I don't mind the ESMA ruling. Yes it will require more funds to trade with to actually make money but knowing the fact that nearly 80% of Forex traders lose money - while brokers do make profit - ESMA did a favour for small time players. Big time players can still go with large risks but people with smaller accounts will not lose much with mistakes now. And mistakes are more frequent than getting things right.

People with small amount will suffer a they will have to move offshore to be able to trade.

Not necessarily. It depends what they are looking for. High risk/high return or low risk/low return? ESMA ruling is not taking away the opportunity to beat any banks' or ISA's saving offers, but it makes it safer. 80% of traders lose money. ESMA helps those people to lose less money.

Are you employed by ESMA to promote their policy? You registered here on myfxbook only 16 hours ago !!!
ovisun
Aug 07 2018 at 14:44
439 príspevkov
With me ESMA achieved excellent results, I closed all my accounts with European brokers !!!
emotionaltrader
Aug 08 2018 at 07:08
100 príspevkov
I can't imagine many small traders those starting with less than £1000 have a hope of making a living from trading now. Quite right, probably better off putting your money in an ISA. That's what small traders have been restricted now - 10% annual returns if they're lucky, but not enough to make a living. I've been trading @25:1 for 2 weeks now and I'm barely breaking even. Hopefully in 3 months ESMA will have a change of heart and change it back, because this is only a trial. Furthermore, don't know how what effect Brexit will have!!!
NotyaBusiness
Aug 08 2018 at 07:09
19 príspevkov
ovisun posted:
NotyaBusiness posted:
togr posted:
NotyaBusiness posted:
I don't mind the ESMA ruling. Yes it will require more funds to trade with to actually make money but knowing the fact that nearly 80% of Forex traders lose money - while brokers do make profit - ESMA did a favour for small time players. Big time players can still go with large risks but people with smaller accounts will not lose much with mistakes now. And mistakes are more frequent than getting things right.

People with small amount will suffer a they will have to move offshore to be able to trade.

Not necessarily. It depends what they are looking for. High risk/high return or low risk/low return? ESMA ruling is not taking away the opportunity to beat any banks' or ISA's saving offers, but it makes it safer. 80% of traders lose money. ESMA helps those people to lose less money.

Are you employed by ESMA to advertise their policy? You registered here on myfxbook only 16 hours ago !!!

lol very funny.

Yes I'm newly registered. I think this website has a lot of goods. That, however is irrelevant to my post.
The man who wants nothing is invincible.
vontogr (togr)
Aug 08 2018 at 07:14
4862 príspevkov
ovisun posted:
With me ESMA achieved excellent results, I closed all my accounts with European brokers !!!

That would be very often outcome
Small players have no other choice than move to shady unregulated waters
- risking the whole deposit
- unregulated offshore brokers will of course pay less taxes than regulated EU ones...
vontogr (togr)
Aug 08 2018 at 07:16
4862 príspevkov
NotyaBusiness posted:
togr posted:
NotyaBusiness posted:
I don't mind the ESMA ruling. Yes it will require more funds to trade with to actually make money but knowing the fact that nearly 80% of Forex traders lose money - while brokers do make profit - ESMA did a favour for small time players. Big time players can still go with large risks but people with smaller accounts will not lose much with mistakes now. And mistakes are more frequent than getting things right.

People with small amount will suffer a they will have to move offshore to be able to trade.

Not necessarily. It depends what they are looking for. High risk/high return or low risk/low return? ESMA ruling is not taking away the opportunity to beat any banks' or ISA's saving offers, but it makes it safer. 80% of traders lose money. ESMA helps those people to lose less money.

Low leverage is not preventing users from loses. It actually force them to close losing trades.
barbosul
Aug 08 2018 at 12:11
1 príspevkov

Esma are the tools of those who want the monopoly, surely you will find brokers who are honest and with the backbone that do not depend on the esma. We are for one demand-offer link. We are fighting for a free market that is not monopolized by any form of monopoly- imperialism.
emotionaltrader
Aug 09 2018 at 07:22
100 príspevkov
Matt (BluePanther)
Aug 09 2018 at 11:36
1357 príspevkov
emotionaltrader posted:
I can't imagine many small traders those starting with less than £1000 have a hope of making a living from trading now. Quite right, probably better off putting your money in an ISA. That's what small traders have been restricted now - 10% annual returns if they're lucky, but not enough to make a living. I've been trading @25:1 for 2 weeks now and I'm barely breaking even. Hopefully in 3 months ESMA will have a change of heart and change it back, because this is only a trial. Furthermore, don't know how what effect Brexit will have!!!

Yep, surely the response from ALL small traders - including myself. 😞

'John The huge increase in margin requirements will significantly reduce the efficiency of market pricing and liquidity, and moreover negate the ability of investors to hedge their investment risks.
https://www.replytoesma.trading/

Absolutely correct.
Matt (BluePanther)
Aug 09 2018 at 12:19
1357 príspevkov
togr posted:
So ESMA started to mess up the trading in Europe earlier than expected.
Got this email today. It is 29th MAY and the email says it will be applied since 28th May :)
Dear Client,

We would like to inform you about a new leverage limitation for EU clients which came into effect starting 28th of May, 2018. The leverage for all the clients from the European Union has been reduced to 1:50.

Please note that this restriction applies to both current clients and newly registered customers. We recommend to consider updated conditions when opening new trades.

All changes are made in accordance with the requirement of the European Securities and Markets Authority (ESMA)
Thank you.

Best Regards,
ForexMart Team

This type of notice is usually only served during a major event such as Brexit as a temporary risk reduction measure:

https://fxdailyreport.com/forex-brokers-adjust-leverage-high-impact-political-news/
snoopy (Novar)
Aug 10 2018 at 07:24
63 príspevkov
ESMA just a scam of banking lobby

they do not want that normal peapole can acces to the market where they win money with money of normal peapole puting fees on they accounts

so 500 000€ to acces of market at 500:1 if not go away and give me your money, I will give you 1% per year plus fees

nothing more

and you can go any where or any broker in the world, if you are european resident the same for you

Pay !!!
snoopy (Novar)
Aug 10 2018 at 07:25
63 príspevkov
Every day world is loosing more and more liberty !!!

We enter in the world dicture !!!
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