Learn the history! Ironically it's coming from the left..
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Australia "ESMA" type rules 8 replies
Differences in Trading Behavior under new ESMA leverage rules 2 replies
Concerning New ESMA Regulation On Leveraged Trading 1 reply
MFSA finalizes new rules for Forex and CFD brokers 0 replies
Breaking News: Belgium bans all leveraged Forex, CFDs 92 replies
Disliked{quote} There is nothing you can do about it. Talking, complaining and writing letters is pure waste of time in the context of dictatorship!Ignored
New minimum margin rates
ESMA's new rules will be applied from 28 July introducing the following leverage restrictions for retail traders:
These restrictions will result in increased margins across all markets, which you can see in the examples.
Current minimum margin rate 0.5%
New minimum margin rate 3.33%
For Currency pairs containing any two of the following currencies: USD, EUR, JPY, GBP, CAD, CHFIf you placed a EUR/USD trade at £5/point, assuming a current market price of 12320, your current margin requirement would be £308. Under the new rules your margin requirement will be £2051.28.
DislikedAt the new margin rates, if I am spread betting and risking £1 per point on the EUR/USD (or any major fx pair) with around a 20 - 30 pip stop, how much money would I need to cover the trade?Ignored
DislikedAnd it is not just the leverage and ?margin?, hadn't heard that one before.Ignored
DislikedThis from my broker last week. "To confirm, on the 1st of August, there will be changes made to your account due to the decision from ESMA (European Securities and Markets Authority) to implement new measures on Spread Betting and CFD trading accounts for retail clients. As of the 1st of August, there will be new margin requirements that you will have to be aware of, for example, on major indices (UK100, Wall Street) the leverage moves from 500:1 to 20:1 and major forex (GBPUSD, EURUSD etc.) will move from 500:1 to 30:1. What this means is that...Ignored
Dislikedu thought XM found a way around it, by survey, they could "conclude" that i was a professional trader and for that reason allow me to continue to have higher leverage. now I just found in my inbox, what all of you have already found... is there any way around this, use a different broker?Ignored
DislikedI am using this broker totally proffessional Named Finpro trading use this link and ask in the chat box for V.I.P account that is for clients with more than 25000 dollars deposit but if you say how much you will deposit they give you the 2 dollar pr.lot traded its 4 dollar pr lot with standard account absolutly the cheapest out there i am scalping for 1-3 pips so i need high leverage and very low commision for it too work they open both demo and live account for you in chat and it needs too be the true ECN account its 5 dollar cheaper that IC markets...Ignored