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FX Trading in Europe under threat - act now

  • #181
  • Edited 2:23am Feb 5, 2018 2:10am | Edited 2:23am
Quoting Emg
{quote} Even retailed forex is an insignificant part of total forex market. Probably around 6% to 8% of the total. It still has tremendous value to society. It provides both price discovery and liquidity to everyone. The more participants in a market, the less volatile and the more liquidity and the more accurate the price is. Without the retailed forex market, everyone will pay a cost 6.0% or more when they do the financial transactions. Imagine when you travel abroad, you convert your money to other currency. Let say you convert 10,000 USD to...
The above is true for the futures market. It's false for retail forex.

First of all on a good day the FX market may top 250 billion - only 3 percent maximum of the much touted 6 trillion. How can a 3 % liquidity be useful for anything ?
It's impact on real commerce is essentially ZERO.
Retail forex is a game onto itself that is totally disconnected from the total amount of all currency transactions on the entire planet.
Do you really think when toyota wants to build a plant in the US and needs to convert 500 million into yen you will actually see it on your MT4 terminal ?
Real commerce has no need for Retail Forex.
Trading in Retail forex is like betting on your favorite sports team at the local pub. It has NO EFFECT on the score and the outcome of the game and the "main game" does not need your bets to continue, only the book maker does...
  • #182
  • Feb 5, 2018 2:16am Feb 5, 2018 2:16am
Quoting Mingary
{quote} The above is true for the futures market. It's false for retail forex. First of all on a good day the FX market may top 250 billion - only 3 percent maximum of the much touted 6 trillion It's impact is essentially ZERO. Retail forex is a game onto itself that is totally disconnected from the total amount of all currency transactions on the entire planet. Do you really think when toyota wants to build a plant in the US and needs to convert 500 million into yen you will actually see it on your MT4 terminal ? Trading in Retail...
you made a lot of valid points, but the question is what are you doing here? Why not spend your time somewhere else where you believe is more beneficial?
  • #183
  • Feb 5, 2018 2:20am Feb 5, 2018 2:20am
On a more philosophical level, @Mingary, you state that retail fx trade does not serve any purpose, when it comes to society. While this may be true, the argiment is still not valid.

Human societies are not those of ants, or bees. They are composed of distinctly different individuals and as such, there is always a compromise between the rights of the group and those of an individual. Collectivism vs. individualism. And yes, we humans do many things, other than forex, that serve only the individuals involved, not the society on the whole.

You hate retail fx and this is OK, it is your right. It is nkt when you try to impose your view on the others and make it a law.
  • #184
  • Feb 5, 2018 2:30am Feb 5, 2018 2:30am
Quoting GU-Night
{quote} 1) This is no reason to ban FX in my opinion. 2) Spending money is beneficial for the economy. If you win, you can spend money. If you lose someone else spends the money. Who decides what is beneficial for society? 3) You somehow imply that life is very important. How can something be very important if it is not lasting forever and if it is replaceable? There are only 'problems' because of the thought that life is very important, I haven't seen any proof of that assumption in my life. If I die, I die, and then? Presumably nothing. Retail...
I agree with you , but on second thought , I believe that retail trading will not die . Simply , retail traders will move on brokers extra-EU or on European-brokers, which however have their Registered Office in offshore Countries.
  • #185
  • Feb 5, 2018 2:31am Feb 5, 2018 2:31am
Quoting redoktober
{quote} I agree with you , but on second thought , I believe that retail trading will not die . Simply , retail traders will move on brokers extra-EU or on European-brokers, which however have their Registered Office in offshore Countries.

And do you think that's a good thing for the traders concerned?
  • #186
  • Feb 5, 2018 2:34am Feb 5, 2018 2:34am
Quoting tomorton
{quote} And do you think that's a good thing for the traders concerned?
It is not, IMHO. A healthy degree of regulation is welcome, as long as it does not paralyse the whole game.
  • #187
  • Edited 3:28am Feb 5, 2018 3:18am | Edited 3:28am
Quoting tomorton
{quote} And do you think that's a good thing for the traders concerned?
I don't know . Everyone will have to evaluate their trading situation well . It will be a personal and free choice of each trader.

These may be some alternatives :

IC Markets ( Australia )
Pepperstone ( Australia )
DirecFX (Australia )
Instaforex (Russia )
Admiral Markets ( Russia )
IG Markets ( Singapore )
FxOpen (Nevis)
Dukascopy Japan ( Japan )
Lmax HC ( Hong Kong )
  • #188
  • Feb 5, 2018 3:42am Feb 5, 2018 3:42am
Quoting Mingary
{quote} The above is true for the futures market. It's false for retail forex. First of all on a good day the FX market may top 250 billion - only 3 percent maximum of the much touted 6 trillion. How can a 3 % liquidity be useful for anything ? It's impact on real commerce is essentially ZERO. Retail forex is a game onto itself that is totally disconnected from the total amount of all currency transactions on the entire planet. Do you really think when toyota wants to build a plant in the US and needs to convert 500 million into yen you will actually...
80% twaddle.

Dealing desk brokers net off their positions. Straight through ones go - guess where - straight through. It's around 5% of the FX business. They hit the market, same as the desk handling toyotas conversions.

Now. 6 trillion daily. Any idea why that number is so large? Have you spent more than 5 minutes on Google, thinking, really thinking about this? Is that all fresh trades? Can I use that to help me trade? too much thinking eh.
  • #189
  • Feb 5, 2018 3:43am Feb 5, 2018 3:43am
Quoting redoktober
{quote} I don't know . Everyone will have to evaluate their trading situation well . It will be a personal and free choice of each trader. These may be some alternatives : IC Markets ( Australia ) Pepperstone ( Australia ) DirecFX (Australia ) Instaforex (Russia ) Admiral Markets ( Russia ) IG Markets ( Singapore ) FxOpen (Nevis) Dukascopy Japan ( Japan ) Lmax HC ( Hong Kong )


It'll be a cold day in hell before I send any money to Russia.

Do you have any personal experience with the other firms listed, or others outside the UK?
  • #190
  • Feb 5, 2018 3:43am Feb 5, 2018 3:43am
Quoting redoktober
{quote} I don't know . Everyone will have to evaluate their trading situation well . It will be a personal and free choice of each trader. These may be some alternatives : IC Markets ( Australia ) Pepperstone ( Australia ) DirecFX (Australia ) Instaforex (Russia ) Admiral Markets ( Russia ) IG Markets ( Singapore ) FxOpen (Nevis) Dukascopy Japan ( Japan ) Lmax HC ( Hong Kong )
I don't know if it already got mentioned during this whole discussion, but at least some of the alternatives do not accept EU clients anymore. Pepperstone for example forced them to move to their UK regulated branch.
  • #191
  • Feb 5, 2018 3:47am Feb 5, 2018 3:47am
Quoting triphop
{quote} 80% twaddle. Dealing desk brokers net off their positions. Straight through ones go - guess where - straight through. It's around 5% of the FX business. They hit the market, same as the desk handling toyotas conversions. Now. 6 trillion daily. Any idea why that number is so large? Have you spent more than 5 minutes on Google, thinking, really thinking about this? Is that all fresh trades? Can I use that to help me trade? too much thinking eh.
6 trillion. It's commerce, not trades on your MT4 (:
Scammers just love to give that figure ...
and yes, retail forex has no impact on the real foreign exchange
  • #192
  • Feb 5, 2018 3:49am Feb 5, 2018 3:49am
Quoting xy76
{quote} It is not, IMHO. A healthy degree of regulation is welcome, as long as it does not paralyse the whole game.
They will eventually paralyse it, it's in a regulators nature. Regulating broker activity works well for us - clients. Regulating client activity, actually benefits a completely different industry and we will suffer from it.
  • #193
  • Feb 5, 2018 3:53am Feb 5, 2018 3:53am
Quoting Mingary
{quote} 6 trillion. It's commerce, not trades on your MT4 (: Scammers just love to give that figure ... and yes, retail forex has no impact on the real foreign exchange
Shakes head. OK mate. Back to work.
  • #194
  • Feb 5, 2018 3:59am Feb 5, 2018 3:59am
Quoting redoktober
{quote} I don't know . Everyone will have to evaluate their trading situation well . It will be a personal and free choice of each trader. These may be some alternatives : IC Markets ( Australia ) Pepperstone ( Australia ) DirecFX (Australia ) Instaforex (Russia ) Admiral Markets ( Russia ) IG Markets ( Singapore ) FxOpen (Nevis) Dukascopy Japan ( Japan ) Lmax HC ( Hong Kong )
InstaForex is a minus. Give the money to someone as gift than trading with IF. You would be appreciated for your life time
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #195
  • Feb 5, 2018 4:19am Feb 5, 2018 4:19am
Quoting 9jatrader
{quote} InstaForex is a minus. Give the money to someone as gift than trading with IF. You would be appreciated for your life time
Yes I know Instaforex , brrr : please read what I wrote October 12, 2017 :https://www.forexfactory.com/showthr...7#post10381947
In my post 187 I simply wrote a list of brokers that can not be affected by Esma.
I did not say: this is good, this is not good ...
I repeat : everyone will have to evaluate their trading situation well . It will be a personal and free choice of each trader.
  • #196
  • Edited 4:35am Feb 5, 2018 4:23am | Edited 4:35am
Quoting AndyU
{quote} you made a lot of valid points, but the question is what are you doing here? Why not spend your time somewhere else where you believe is more beneficial?
Retail forex is currently set up in a way that makes it too easy to ruin one's life
  • #197
  • Feb 5, 2018 4:27am Feb 5, 2018 4:27am
Keep cool. why the panic?
With less leverage you will be loosing your money slower... Isn't that a good thing? ;-)
  • #198
  • Feb 5, 2018 4:29am Feb 5, 2018 4:29am
Quoting Mingary
{quote} Retail forex is currently set up in a way that makes too easy to ruin one's life
It would be fair to say what is your personal/business interest in pursuing your anti-fx retail crusade here.
  • #199
  • Feb 5, 2018 4:30am Feb 5, 2018 4:30am
Quoting triphop
{quote} They will eventually paralyse it, it's in a regulators nature. Regulating broker activity works well for us - clients. Regulating client activity, actually benefits a completely different industry and we will suffer from it.
Time to get organised, perhaps?
  • #200
  • Feb 5, 2018 4:37am Feb 5, 2018 4:37am
Quoting xy76
{quote} It would be fair to say what is your personal/business interest in pursuing your anti-fx retail crusade here.
Mingary is bored in life and just want to hang out with anti-retail comments. Maybe we have to sympathize with him in his boredom. Be your brother's keepers
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
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