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FX Trading in Europe under threat - act now

  • #221
  • Feb 5, 2018 8:07am Feb 5, 2018 8:07am
Quoting tomorton
{quote} Who do you trade with and what's been your experience with them?
I've already answered the question twice in other threads, but here again:

"The only ones i trade with or would recommend at the moment:

In that order, but the regulation differs, so keep that in mind!

1. (IB) Interactive Brokers, LMAX (or based)
2. FX Pig (spa feed)
3. Varianse (Prime feed)
4. Darwinex, JFD Brokers, Global Prime
5. Dukascopy (or based)
6. Tradeview Forex

That's pretty much it."
  • #222
  • Feb 5, 2018 8:32am Feb 5, 2018 8:32am
Quoting The-Flipper
{quote} I've already answered the question twice in other threads, but here again: "The only ones i trade with or would recommend at the moment: In that order, but the regulation differs, so keep that in mind! 1. (IB) Interactive Brokers, LMAX (or based) 2. FX Pig (spa feed) 3. Varianse (Prime feed) 4. Darwinex, JFD Brokers, Global Prime 5. Dukascopy (or based) 6. Tradeview Forex That's pretty much it."

Interesting, thanks. I may need to follow an alternative means of access if the SB leverage restrictions from ESMA are enacted.

It isn;t easy to work out from their websites - are IB and LMAX DMA brokers?
  • #223
  • Feb 5, 2018 9:32am Feb 5, 2018 9:32am
Quoting Mingary
{quote} already banned in several countries this trend needs to continue.
which countries is forex banned in ?
  • #224
  • Feb 5, 2018 9:40am Feb 5, 2018 9:40am
Quoting Ross88
{quote} which countries is forex banned in ?

Good question.
I found this might be useful - http://www.dollarshower.com/forex-tr...ned-countries/
It lists about 25 countries and a few states. The countries don't include anywhere in the west but there are a couple of Canadian states.

But forex is not completely banned in all these territories, it might just be there are restrictions, such as using a credit card.

Spreadbetting, binary options and cfd's can be used for forex and all or some of these are banned in some countries for this and other financial speculation.

In some countries spreadbetting profits are counted as taxable income so the industry doesn't really exist in those jurisdiction though its not legally banned as such.
  • #225
  • Edited 4:29pm Feb 5, 2018 2:02pm | Edited 4:29pm
Quoting Mingary
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.
No,not really. I am a retail fx trader guy. Been interested in fx since 2008 credit crunch, when I realised that banks could screw myself financially just as I could, minus the fun. Next few years were spent on demo trading mainly, with some attempts at trading pocket beer money through a microaccount. I entered the real game in 2011, with money small enough to be considered high risk capital that I could do easily without, yet still substantial enough to be pi$$ed off, should the whole venture turn south. First couple of months made me realise the difference between a demo/ penny account and a real one, so I was losing. I have lost some 30%, then I turned profitable and, by 2015, my account swelled up tenfold. Then I thought I am a god of some sorts and lost nearly half of it. I still keep the rest, though and I think some 500% profit is a damn good business, to be honest.

What have I learnt? Forex is not a "get rich quickly" scheme. For me, it is best to be treated as a high % - and a high risk by the same time - savings account. It does not really take much to beat the banks with that regards.
Is it hard to trade it? Yes, but not so much intellectually, as it is emotionally.
  • #226
  • Feb 5, 2018 2:07pm Feb 5, 2018 2:07pm
Quoting Mingary
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.
It is rather you who comes across as some sort of a broker/ hedge manager fund manager/ investment banker/ bookie who is hoping that ex-retail fx traders will come to you in herds, once they can no longer trade fx.
  • #227
  • Feb 5, 2018 4:23pm Feb 5, 2018 4:23pm
Quoting xy76
{quote} It is rather you who comes across as some sort of a broker/ hedge manager fund manager/ investment banker/ bookie who is hoping that ex-retail fx traders will come to you in herds, once they can no longer trade fx.

Agreed. Why else would anyone give a hoot if not to see some competitors eliminated?
  • #228
  • Feb 5, 2018 4:25pm Feb 5, 2018 4:25pm
Truly amazing that I have attracted a few shills.
Good luck with your PR and "damage control" (;
On any given day 99.999999 % of retail forex traders get screwed, imagine what would happen if they all provide their feedback to the ESMA...
  • #229
  • Feb 5, 2018 4:38pm Feb 5, 2018 4:38pm
Quoting Mingary
Truly amazing that I have attracted a few shills. Good luck with your PR and "damage control" (; On any given day 99.999999 % of retail forex traders get screwed, imagine what would happen if they all provide their feedback to the ESMA...
Go on, be even more impressive. Why don't you just say that 1000% fx little guys are losers and 10000% of those who say otherwise are covert brokers, IBs and some such?

I do not honestly know what would happen if all those losing traders wrote to ESMA. I know even less, why they would not? Any ideas?
  • #230
  • Feb 5, 2018 4:47pm Feb 5, 2018 4:47pm
Quoting xy76
{quote} Go on, be even more impressive. Why don't you just say that 1000% fx little guys are losers and 10000% of those who say otherwise are covert brokers, IBs and some such? I do not honestly know what would happen if all those losing traders wrote to ESMA. I know even less, why they would not? Any ideas?
It would get banned way before your broker let you withdraw the last 2 dollars from your account (:
  • #231
  • Feb 5, 2018 4:54pm Feb 5, 2018 4:54pm
Quoting Mingary
{quote} It would get banned way before your broker let you withdraw the last 2 dollars from your account (:
So, where are all those 99.9999% or so losing traders and their evidence?

At the moment, there is only one loser. A real big timer, though. Some guy, who cannot accept the fact that he simply sucks at the game, so he desperately looks for someone else to blame.

You know who am I talking about, @Mingary?
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  • #232
  • Feb 5, 2018 7:49pm Feb 5, 2018 7:49pm
^^^^^^^ this is pretty much all that needs to be said. you shouldn't be let within 100 meters of a trading terminal. if you blew $200k and didn't have the good sense to walk away then your life was already fooked. That's some serious lack of impulse control.
  • #233
  • Feb 5, 2018 8:57pm Feb 5, 2018 8:57pm
[quote=Mingary;10742931]{quote} All market makers. They trade against their customers. Can you explain exactly how do they trade against their customers?
unlearning is difficult than learning-that is the key!!
  • #234
  • Feb 5, 2018 9:48pm Feb 5, 2018 9:48pm
[quote=sram;10746196]
Quoting Mingary
{quote} All market makers. They trade against their customers. Can you explain exactly how do they trade against their customers?
Read up on "A book" Vs "B book"
  • #235
  • Edited Feb 6, 2018 12:47am Feb 5, 2018 9:55pm | Edited Feb 6, 2018 12:47am
Damage control guys ... damage control.
We want to make sure the beautiful game of forex continues forever, now don't we ?
Those forex broker office buildings won't get built by themselves ..
  • #236
  • Edited Feb 6, 2018 12:22am Feb 5, 2018 10:02pm | Edited Feb 6, 2018 12:22am
Quoting xy76
{quote} No,not really. I am a retail fx trader guy. Been interested in fx since 2008 credit crunch, when I realised that banks could screw myself financially just as I could, minus the fun. Next few years were spent on demo trading mainly, with some attempts at trading pocket beer money through a microaccount. I entered the real game in 2011, with money small enough to be considered high risk capital that I could do easily without, yet still substantial enough to be pi$$ed off, should the whole venture turn south. First couple of months made me...
Hi there "retail fx trader guy" thanks for your comment, but your reply here, isn't that a blurb / spiel from any forex late night forex "infomercial" ever created ...?
Did it pass "legal" at your company to make sure it's the proper PR to elucidate and motivate your target audience ?

Are you and this "tomorton" dude working together ? He also spews out the same platitudes
  • #237
  • Feb 5, 2018 10:11pm Feb 5, 2018 10:11pm
Quoting xy76
{quote} So, where are all those 99.9999% or so losing traders and their evidence? At the moment, there is only one loser. A real big timer, though. Some guy, who cannot accept the fact that he simply sucks at the game, so he desperately looks for someone else to blame. You know who am I talking about, @Mingary? {image}
Now you are being stupid... You should now, they are the ones who are buying your boss's new yacht (:
I am curious as to which FX outfit, you and this "tomorton", work for..
Inquiring minds would like to know...
  • #238
  • Edited Feb 6, 2018 12:16am Feb 5, 2018 10:18pm | Edited Feb 6, 2018 12:16am
Anyhow.
All very predictable.
Bottom line truth is: Retail forex does some real damage, it serves no purpose except that it provides jobs for brokers and forex related product vendors. It is an industry that feeds on its customers while the customer aggregate gets "no value for money" in return and whose business practices are infamously "dodgy".
It should be banned (preferred choice), or heavily regulated as some sort of "glorified casino"
This is my vote on this issue.
  • #239
  • Feb 6, 2018 1:43am Feb 6, 2018 1:43am
Quoting Mingary
{quote} Hi there "retail fx trader guy" thanks for your comment, but your reply here, isn't that a blurb / spiel from any forex late night forex "infomercial" ever created ...? Did it pass "legal" at your company to make sure it's the proper PR to elucidate and motivate your target audience ? Are you and this "tomorton" dude working together ? He also spews out the same platitudes

Please don't call me dude, its juvenile.
  • #240
  • Feb 6, 2018 1:43am Feb 6, 2018 1:43am
Quoting Mingary
{quote} Now you are being stupid... You should now, they are the ones who are buying your boss's new yacht (: I am curious as to which FX outfit, you and this "tomorton", work for.. Inquiring minds would like to know...

I'm retired, I receive only a local government pension plus what I make from trading.
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