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  • EU approves financial transaction tax for 11 eurozone countries

    From guardian.co.uk

    Germany, France and nine other eurozone countries have been given the green light to impose a financial transaction tax, despite warnings from banks and business groups that it will drive share, currency and derivative trading out of Europe. EU finance ministers gave their approval at a meeting in Brussels, allowing 11 states to pursue a levy on financial transactions. The UK abstained in the vote alongside Luxembourg and the Czech Republic. Eleven countries won the EU's backing for a financial transaction tax (FTT), with Germany, France, Italy and Spain adding their names to eurozone neighbours Austria, Portugal, ... (full story)

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  • | IP XXX.XXX.159.54
Thank you EU. Finally. We just need transaction tax in US. Tax HFT orders and let them go bankrupt.
LOL
  •  Guest
  • | IP XXX.XXX.159.54
The transaction tax is the bull killer .
soon forex will be illegal. damn.
  •  Guest
  • | IP XXX.XXX.159.54
Transaction tax will hurt big High Frequency Traders. 10,000 orders per second will not be so cheap anymore.
  •  Guest
  • | IP XXX.XXX.159.54
SEC does not want to impose transaction tax because they want to keep market up as high as possible.
The reason to look at ForEx as a speculative vehicle is that the US stock exchanges are set up to front run individual traders, the US commodity markets also have a hands off approach to regulation. Notice how Corzine has been deemed too-politically-connected-to-prosecute. A transaction tax would, indeed, slow down money flows to our pumped up markets. However, in the land of the free-to-rip-off little people our USA markets will only benefit from Europe's push to tax.
If you become successful at Forex trading you will be "taking back" from banks and governments who are the major currency players.
4XTrader2
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  • Story Stats
  • Posted: Jan 22, 2013 1:13pm
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 8  /  Views: 3,875