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Breaking: ESMA finalizes new rules to govern leveraged trading

  • #161
  • May 22, 2018 2:16am May 22, 2018 2:16am
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- https://www.100forexbrokers.com/reviews-ratings
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  • #162
  • May 22, 2018 7:42am May 22, 2018 7:42am
So it look like the only option is to open account with Australian or new Zealand brokers.

Is Dukascopy (Switzerland) affected by ESMA as well?

Regards
  • #163
  • May 23, 2018 2:32am May 23, 2018 2:32am
Quoting Merka
So it look like the only option is to open account with Australian or new Zealand brokers. Is Dukascopy (Switzerland) affected by ESMA as well? Regards
There are 2 Dukascopy : Dukascopy Bank based in Switzerland and Dukascopy EU based in Latvia.

Dukascopy EU will have to comply with the ESMA rules . Dukascopy based in Switzerland , not.
  • #164
  • Edited 4:08am May 23, 2018 3:57am | Edited 4:08am
Quoting redoktober
{quote} There are 2 Dukascopy : Dukascopy Bank based in Switzerland and Dukascopy EU based in Latvia. Dukascopy EU will have to comply with the ESMA rules . Dukascopy based in Switzerland , not.
In case of insolvency of Dukascopy, Is there an investor compensation scheme in Switzerland?
  • #165
  • May 23, 2018 4:30am May 23, 2018 4:30am
Quoting grandaevus
{quote} In case of insolvency of Dukascopy, Is there an investor compensation scheme in Switzerland?
Dukascopy is, like all banks and securities dealers in Switzerland, mandatory signatory of the "Swiss banks and securities dealers' agreement regarding deposits protection". Client's deposits are protected in the amount of CHF 100'000.- for each client.
Deposit Protection is explained in details on this website : www.einlagensicherung.ch/en.
  • #166
  • May 23, 2018 4:58am May 23, 2018 4:58am
Quoting redoktober
{quote} Dukascopy is, like all banks and securities dealers in Switzerland, mandatory signatory of the "Swiss banks and securities dealers' agreement regarding deposits protection". Client's deposits are protected in the amount of CHF 100'000.- for each client. Deposit Protection is explained in details on this website : www.einlagensicherung.ch/en.
Better than FSCS (Ł50,000)
  • #167
  • May 23, 2018 6:22am May 23, 2018 6:22am
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  • #168
  • May 24, 2018 5:17am May 24, 2018 5:17am
IG Markets UK (IG Index) have had 15,000 clients apply for Professional status, they have declined 75% of the request.

They have granted 3,600 professional status. 30% of IG Markets' revenue derive from this group.
All Assets NAS100 GLD BTC AUS JPY GBP All Time Return: 19.6%
  • #169
  • May 24, 2018 6:11am May 24, 2018 6:11am
Quoting Phil_GMT
IG Markets UK (IG Index) have had 15,000 clients apply for Professional status, they have declined 75% of the request. They have granted 3,600 professional status. 30% of IG Markets' revenue derive from this group.
The only way is to trade with non European based broker.
Look for Australian, New Zealand brokers for example.
The world is not just Europe or USA or Canada
  • #170
  • May 24, 2018 8:01am May 24, 2018 8:01am
Quoting Merka
{quote} The only way is to trade with non European based broker. Look for Australian, New Zealand brokers for example. The world is not just Europe or USA or Canada
It is funny, because it is true!
  • #171
  • May 24, 2018 9:27am May 24, 2018 9:27am
i just received an email from my broker that says that after it's published in the official journal of the European Union it will take 2 months to be put in practice.that means it hasn't been published yet in the journal? do u have info about this?
  • #172
  • May 24, 2018 10:23am May 24, 2018 10:23am
Quoting vladutz112
i just received an email from my broker that says that after it's published in the official journal of the European Union it will take 2 months to be put in practice.that means it hasn't been published yet in the journal? do u have info about this?
I don't know but for sure ESMA will be put in force very soon.
In the meantime prepare yourself.
I just opened an account with ICMarkets Australia but you can choose any other regulated broker in Australia, NZD, Singapore, Japan etc...
  • #173
  • Edited 9:45pm May 24, 2018 10:59am | Edited 9:45pm
Quoting vladutz112
i just received an email from my broker that says that after it's published in the official journal of the European Union it will take 2 months to be put in practice.that means it hasn't been published yet in the journal? do u have info about this?
When will the new measures take effect?

These measures have to be translated into all official languages of the European Union. This process is currently underway and will take a number of weeks.
Once the translation process has been completed, ESMA intends to adopt the measures in the official languages of the European Union.
Once adopted, the measures will be sent for publication to the Official Journal of the European Union in the official languages of the European Union.
The measures on CFDs will start to apply two months after the publication in the Official Journal of the European Union.
The actual date has not yet been determined, but we anticipate the measures to come into effect in July 2018.

What are the minimum requirements to become a Professional Client?

A Professional Client must .....

Source - https://tickmill.com/faq/category/esma-regulations/

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Note: We have no referral or promotion connection to above commercial content. Post content is purely informative/educational and is not a recommendation. ! Due diligence required.
TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #174
  • May 24, 2018 3:58pm May 24, 2018 3:58pm
My question is:
As a european can I use a australian broker?
Or it will be like the american how have to use american brokers?
  • #175
  • May 24, 2018 4:21pm May 24, 2018 4:21pm
Quoting Demos4x
My question is: As a european can I use a australian broker? Or it will be like the american how have to use american brokers?
As stated before, I just opened an account with ICMarkets Australia. My documents have been checked an approved despite I'm European.
So, the response to your question is YES.
There will be new regulations that will block this in the future? Maybe yes, maybe no. For sure now you can.

Regards
  • #176
  • Edited 9:45pm May 24, 2018 5:31pm | Edited 9:45pm
Quoting Merka
{quote} As stated before, I just opened an account with ICMarkets Australia. My documents have been checked an approved despite I'm European. So, the response to your question is YES. There will be new regulations that will block this in the future? Maybe yes, maybe no. For sure now you can. Regards
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Note: We have no referral or promotion connection to above commercial content. Post content is purely informative/educational and is not a recommendation. ! Due diligence required.
TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #177
  • May 25, 2018 12:40am May 25, 2018 12:40am
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- https://www.financemagnates.com/fore...-subsidiaries/
TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #178
  • May 26, 2018 10:05am May 26, 2018 10:05am
Quoting Phylo
{quote} When will the new measures take effect? These measures have to be translated into all official languages of the European Union. This process is currently underway and will take a number of weeks. Once the translation process has been completed, ESMA intends to adopt the measures in the official languages of the European Union. Once adopted, the measures will be sent for publication to the Official Journal of the European Union in the official languages of the European Union. The measures on CFDs will start to apply two months after the publication...
so probably July , very many thanks for info
Trade
  • #179
  • May 27, 2018 11:43am May 27, 2018 11:43am
Has anyone already received an e-mail from their broker regarding this topic?
  • #180
  • May 27, 2018 12:34pm May 27, 2018 12:34pm
Quoting meyoik
Has anyone already received an e-mail from their broker regarding this topic?
Yes, Pepperstone UK is already distressing me here.
SP
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