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ESMA and its implication
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ovisun

Medlem sedan Jan 27, 2013  301 poster ovisun Jul 19 at 11:25 (editerad Jul 19 at 11:27 )
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

Medlem sedan Nov 26, 2016  70 poster MicF Jul 19 at 12:01
I just transfered my account from Corespreads UK to Corespreads Australia.
... not an issue!

TiffanyK

Medlem sedan Feb 12, 2016  407 poster Tiffany (TiffanyK) Jul 19 at 14:50
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
togr

Medlem sedan Feb 22, 2011  3854 poster vontogr (togr) Jul 20 at 06:35
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

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

Medlem sedan May 23, 2018  3 poster Pipperidge Jul 20 at 09:00
@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

Medlem sedan Jan 27, 2013  301 poster ovisun Jul 20 at 09:54
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

Medlem sedan Feb 26, 2018  13 poster Gold101 Jul 20 at 11:41
Will IC still accept EU citizens or are they band now?

MicF

Medlem sedan Nov 26, 2016  70 poster MicF Jul 23 at 06:55
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.

togr

Medlem sedan Feb 22, 2011  3854 poster vontogr (togr) Jul 23 at 08:12
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

I like what I trade, I trade what I like
niceGLer

Medlem sedan Dec 28, 2013  20 poster niceGLer Jul 29 at 11:10
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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