The only thing I like about the ESMA regulation.... I mean..... really like...., is the NEGATIVE BALANCE protection.
I donīt know if you guys read the stories that happend to people caught in the EURCHF and CABLE Black Swans.
-Brokers only honoured stop losses, after a whopping 1500 pip slide.
-Some brokers did not honour winners.The excuse: they needed the extra cash to cover for the losses.???!!!!!!!!!
-People had to sell their houses (literally), to pay for the negative balance.
-Traders are still stuck litigating in court.
So itīs fine to avoid ESMA and go overseas, and play leverage, but beware...You need to be aware of the "what if" scenario on every lot that you through on the table.
Remember, the sudden policy change from the Swiss government, was exctly that, sudden..no warning.
At least cable was in the middle of Brexit turmoil.
You people have a great (very hot here in Germany ) weekend.
I donīt know if you guys read the stories that happend to people caught in the EURCHF and CABLE Black Swans.
-Brokers only honoured stop losses, after a whopping 1500 pip slide.
-Some brokers did not honour winners.The excuse: they needed the extra cash to cover for the losses.???!!!!!!!!!
-People had to sell their houses (literally), to pay for the negative balance.
-Traders are still stuck litigating in court.
So itīs fine to avoid ESMA and go overseas, and play leverage, but beware...You need to be aware of the "what if" scenario on every lot that you through on the table.
Remember, the sudden policy change from the Swiss government, was exctly that, sudden..no warning.
At least cable was in the middle of Brexit turmoil.
You people have a great (very hot here in Germany ) weekend.
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