FX Trading in Europe under threat - act now | Page 11 | Forex Factory

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FX Trading in Europe under threat - act now

  • #201
  • Feb 5, 2018 4:50am Feb 5, 2018 4:50am
Quoting colbru
Keep cool. why the panic? With less leverage you will be loosing your money slower... Isn't that a good thing? ;-)

Are you serious?
I'm actually making a profit from spreadbetting. Imagine you had a job and the boss said we're going to pay you a month's salary this year. But you'll still have got the same salary by the time you retire - at 110 years old.
  • #202
  • Feb 5, 2018 4:59am Feb 5, 2018 4:59am
Quoting xy76
{quote} It would be fair to say what is your personal/business interest in pursuing your anti-fx retail crusade here.
Retail Forex is a haven for scammers. It needs a good clean up or be banned.
  • #203
  • Feb 5, 2018 5:07am Feb 5, 2018 5:07am
Quoting Mingary
{quote} Retail Forex is a haven for scammers. It needs a good clean up or be banned.

What's your personal experience in retail forex?
  • #204
  • Feb 5, 2018 5:13am Feb 5, 2018 5:13am
Brokers will be making even more. What good does lower leverage do - more money deposited into brokers accounts, more margin calls, more stop-outs, more profits. It does not make traders more wise and informed. Leverage is a tool which they now try to bend in their favor. First they introduced high leverage, hoping that dumbass traders will be applying it all to the limit. But seems that is not the case, more and more traders have become educated and are more wisely managing their funds. So why not hit them the other way? And well dressed in formal "regulators language" to become even more plausible. The proposed changes are serving the bigger players in the sector and do no good to the small investors. Whoever thinks or says opposite either knows little about trading or is a complete idiot.
  • #205
  • Feb 5, 2018 5:55am Feb 5, 2018 5:55am
Quoting tomorton
{quote} What's your personal experience in retail forex?
Enough to know it's a hell of a misery maker for 99.9999999 % of its "users"
But you tell me yours first, spreadbetting that is, because I "assume" you know nothing ...
  • #206
  • Feb 5, 2018 6:04am Feb 5, 2018 6:04am
Industry responses https://replytoesma.trading/industry.html
  • #207
  • Edited 6:37am Feb 5, 2018 6:13am | Edited 6:37am
Quoting Walz
Industry responses https://replytoesma.trading/industry.html
You understand they would say that, right ? I mean no one here is that stupid ?

Retail loves high leverage.
Retail always lose.
Most fx brokers profit from retail always losing.

I wonder if there is a connection....
  • #208
  • Feb 5, 2018 6:14am Feb 5, 2018 6:14am
Quoting Mingary
{quote} Enough to know it's a hell of a misery maker for 99.9999999 % of its "users" But you tell me yours first, spreadbetting that is, because I "assume" you know nothing ...

I've already outlined my personal experiences on this thread but I can repeat it and go into more detail.

I've held SB accounts with UK-based and regulated SB firms since March 2003. I've been running SB's on indices, commodities, stocks and forex pairs continuously since that date. I generally these days have 10-20 SB's open at any one time (it is 9 open at this minute with 13 orders pending). I have opened and closed thousands of SB's during the years I've been trading. I was not profitable at the start of my SB period but that was very clearly down to me, not to strange practices by the firms concerned (I'd love to say I've always been a trading god and was just diddled out of money by the dastardly firms, but it wouldn't be true, it has not been my EXPERIENCE). I've had accounts with 3 firms, all reputable and responsible, none ever prosecuted or even warned regarding their SB services by the FSA/FCA as far as I know. I've been able to withdraw funds and profits without any issues, I've never seen my stops hunted, I never have issues getting trades opened, closed or stops adjusted. All the stops I've set are respected, except when there's a gap in pricing and I chose not to use a guaranteed stop-loss. I have a 5-figure account and have put 5 figures of profit into the account since November.

Is there anything I need to add?
  • #209
  • Feb 5, 2018 6:30am Feb 5, 2018 6:30am
Well done Tom, you've the patience of multiple saints.

Question to all the users here.

Q: What industry is 20 times the size of retail fx, employs thousands of paid for lobbyists and was recently found out for fixing the 'fix' with six of the major banks fined billions of pounds? The manipulation of the fix was an open secret known among several of us here, written about years ago. Everyone who trades was gobsmacked it could happen so blatantly.

Got it? good

Q: As a major bank, how would you protect your future interests? How would you go about doing it? What message would you want to spread, and how would you do it?

wouldn't want to open up that can of worms.
  • #210
  • Feb 5, 2018 7:07am Feb 5, 2018 7:07am
Quoting Mingary
{quote} Retail Forex is a haven for scammers. It needs a good clean up or be banned.
I have heard you loud and clear, but this is not an answer to my question. I asked you about your experience with fx retail trading, not about your opinion. These are two entirely different things.

In fact, many ppl did ask you this question before and there has never been any answer from you. Instead, you turn all personal on those who dare to ask, call them stupid who know nothing etc.

I have been reading your posts for a good couple of years and you are certainly not dumb, @Mingary, you perfectly understand the question and your way of dodging it shows that there is probably something else, an agenda you do not wish to disclose.

So again, what is your interest in banning all retail forex trading? What will you gain from it and how much?
  • #211
  • Feb 5, 2018 7:18am Feb 5, 2018 7:18am
Quoting Walz
Industry responses https://replytoesma.trading/industry.html
Funny.
A response from 4 scam brokers: IG, CMC, Gain Capital, Saxo.
  • #212
  • Feb 5, 2018 7:29am Feb 5, 2018 7:29am
Quoting The-Flipper
{quote} Funny. A response from 4 scam brokers: IG, CMC, Gain Capital, Saxo.

What is your experience trading with these brokers please?

Or any others you'd like to name?
  • #213
  • Feb 5, 2018 7:40am Feb 5, 2018 7:40am
Quoting tomorton
{quote} What is your experience trading with these brokers please? Or any others you'd like to name?
I have been trading with ig in the UK for 12 years and overall have not had anything to complain about.ive also had similar accounts with other UK spread betters and I have no problems with them.

Alpari UK was a nightmare as were similar mt4 brokers I had previously tried.

I'm very disappointed by the proposed changes as I enjoy the margins offered and having to hold much more capital in any brokers account is something I will have to consider.
  • #214
  • Feb 5, 2018 7:45am Feb 5, 2018 7:45am
Quoting tomorton
{quote} What is your experience trading with these brokers please? Or any others you'd like to name?
All market makers.

They trade against their customer, nothing wrong with that, but they love those retail traders (:
I would like to name FXCM as well and probably 90 % of all FX brokers
  • #215
  • Feb 5, 2018 7:47am Feb 5, 2018 7:47am
Quoting Mingary
{quote} All market makers. They trade against their customer, nothing wrong with that, but they love those retail traders (: I would like to name FXCM as well and probably 90 % of all FX brokers
Fine, but it is just another opinion.
  • #216
  • Feb 5, 2018 7:50am Feb 5, 2018 7:50am
I think this thread is attracting "industry professionals" who are concerned that some poor slob is going to decide not to open a 1000 USD account that he would lose in 3 days.
  • #217
  • Feb 5, 2018 7:51am Feb 5, 2018 7:51am
Quoting Mingary
{quote} All market makers. They trade against their customer, nothing wrong with that, but they love those retail traders (: I would like to name FXCM as well and probably 90 % of all FX brokers

You can't possibly have direct personal experience of all market makers.

Who have you traded with in this field and what was your experience?
  • #218
  • Feb 5, 2018 7:54am Feb 5, 2018 7:54am
Quoting Mingary
I think this thread is attracting "industry professionals" (:

In my case, that's just ridiculous conspiracy theory.

I don't work in the industry, never have worked in the industry and have never received any payment from the industry for any services.

Unless you're talking about yourself. In which case, in the interests of fairness, its only right that you should explain your position, as others have. Maybe you work for a bank?
  • #219
  • Feb 5, 2018 8:01am Feb 5, 2018 8:01am
Quoting Mingary
{quote} All market makers. They trade against their customer, nothing wrong with that, but they love those retail traders (: I would like to name FXCM as well and probably 90 % of all FX brokers
Yep.
If there is a conflict of interest, it's automatically a scam broker.
More than 95% of all FX brokers are scammers.
  • #220
  • Feb 5, 2018 8:02am Feb 5, 2018 8:02am
Quoting The-Flipper
{quote} Yep. If there is a conflict of interest, it's automatically a scam broker. More than 95% of all FX brokers are scammers.

Who do you trade with and what's been your experience with them?
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