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ESMA and its implication
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togr

Členom od Feb 22, 2011  3860 príspevkov vontogr (togr) Jun 26 at 11:16
NottsBlade posted:
Wouldn't surprise me if brokers have algorithms set up to trade against their clients (Stop Loss Hunters). Stop smaller clients out first cos their the easiest to stop out cos they have lower equity. See using robots against humans already!!!

That's why I don't use a stop loss, once my £100 has gone that's it!!!


Pls stop spamming my discussion

I like what I trade, I trade what I like
TiffanyK

Členom od Feb 12, 2016  407 príspevkov Tiffany (TiffanyK) Jul 04 at 06:23
FxMasterGuru posted:
@TiffanyK

You are right, trading can be a socially more acceptable disguised gambling addiction. A friend of mine has committed suicide due to trading related losses and threats from loan sharks. It was pretty sad. Nevertheless, ESMA regulations will be easily bypassed by traders with addiction problems, i.e. by those who feel the irresistible urge to trade/gamble with funds they cannot afford to lose simply by moving their accounts to ASIC regulated or off-shore brokers. It is simple as that.

So what will the ESMA regulations achieve finally in this regard...? Seriously... My guess is that it is just a symbolic act, so they can ''wash their hands'' as Pontius Pilate did according to the Bible...

So sorry to hear this... really sad indeed

Accept the loss as experience
TiffanyK

Členom od Feb 12, 2016  407 príspevkov Tiffany (TiffanyK) Jul 04 at 06:34
MicF posted:
Do you think, this would help small players?
If this would be the objective, then they had to kill margin accounts for retail.

But how could anybody prevent mortgage a house to trade?
At least they have a house to mortgage? ;-)



No, I don't think that this will help them. I think that it will rather make them quit trading... well at least the reasonable ones that are acquainted with the fact that low leverage requests more funds to deposit... I think many of retail players may just quit trading after these changes. Maybe 'Defending' wasn't the good word for what I meant :)

Accept the loss as experience
TiffanyK

Členom od Feb 12, 2016  407 príspevkov Tiffany (TiffanyK) Jul 04 at 06:36
togr posted:

Well to be able to trade they will need to deposit much more now compared to high leverage.
Even to trade 1 lot EURUSD you will need 100,000 EUR /30 = 3,333 EUR. Just to cover margin...
And potentially loose it as well
So at the end they will loose more
That is the danger of low leverage.


That's the point, according to me ESMA is trying to limit small players from trading in these conditions, I think the final effect that they want to achieve is rather to make small players quit the 'game' (if I may say it roughly) Maybe it is much more complicated than we all think

Accept the loss as experience
togr

Členom od Feb 22, 2011  3860 príspevkov vontogr (togr) Jul 18 at 14:16
ESMA is about to start end JUL/beg AUG
Are you ready for that?
There are still regulated brokers not crippled by ESMA
like this one https://goo.gl/4fBquG

I like what I trade, I trade what I like
Pipperidge

Členom od May 23, 2018  5 príspevkov Pipperidge Jul 19 at 06:02
@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.

MicF

Členom od Nov 26, 2016  70 príspevkov MicF Jul 19 at 07:01
If your stop loss isn't below the initial margin you should be fine.

MicF

Členom od Nov 26, 2016  70 príspevkov MicF Jul 19 at 07:01
IC Markets ... Australia regulated.
Yeah, not a bad idea.

Adribaasmet

Členom od Aug 27, 2017  267 príspevkov Adribaasmet Jul 19 at 07:59
MicF posted:
True!
I heard already from some broker, they are building an Australian branch.

But then, not the same safety for a retail client.
Makes it worse for them.


That’s really unfortunate; I have also heard this kind of statement from many traders!

togr

Členom od Feb 22, 2011  3860 príspevkov vontogr (togr) Jul 19 at 10:04
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

I like what I trade, I trade what I like
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