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Attachments: FX Trading in Europe under threat - act now
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FX Trading in Europe under threat - act now

Quoting Catch-22
Jesus, chill out. I don't need to waste my time wading through rants from people pulling numbers out of their asses and throwing accusations around like any of it means something. On topic: I'm not sure that 5 leverage is really that bad tbh, I'd go with 10 but hey that's me. If you see the amount of broken accounts that I do on a daily basis, it's almost always due to over-leveraging. There are always other brokers out there that are legit that will let you do more leverage anyway, so it's really a non-issue - just make sure that withdrawals are...
I have a live account with a firm, £50k starting , 1:3 leverage
It's fine and you can make realistic gains comparative to the average persons daily wage without too much risk.

If I were to fund my own account, I would go with a small leverage rather than 1:100 I would be happy with 1:5 max
Quoting NevFX
{quote} I have a live account with a firm, £50k starting , 1:3 leverage It's fine and you can make realistic gains comparative to the average persons daily wage without too much risk. If I were to fund my own account, I would go with a small leverage rather than 1:100 I would be happy with 1:5 max

Yup, I agree with you.
Quoting Catch-22
{quote} Pretty sure Binary got chased out of Israel (to the dodgier areas of the world), and a lot of Forex brokers are worried now - particularly those based there - and are looking to move away.
Binary options ought to be traded via an exchange because thats the only way to ensure a fair outcome. I tried binary options a few years ago, and i did my homework to ensure i was dealing with a regulated broker. At that time it was pretty much Dukascopy in Europe and Nadex Exchange in U.S that i could "trust" enough to try with. I opted for Nadex first but they didnt accept accounts from my country (the only time i encountered this was with MB-Trading in 2011 and they closed shop a few years after. weird). So i started out with Dukascopy but kept on having login issues and spread issues so i just gave up on the thing. Good thing i did anyway because it got me to concentrate on what im doing now. Binary options are okay if you trade them via an exchange but if you do so via a broker then they will eventually figure out a way to frustrate your trading. I remember some binary broker based in Isle of Man offering 50% commission for any referral opening an account greater than $2000, it made me wonder how sure are they that the person will lose everything that they are willing to share half of the account value upfront with you.

Leverage wise, i am okay with 1:10 because that is what i have always used but it helps if the broker offers a higher leverage because that means even with the same real leverage i use of 10x i will have a smaller margin requirement (1%) and this is important when pyramid trading on a trend as compared to when you have a leverage of 1:20 and still use a real lev of 10x your margin requirement will be 50% so that makes a huge difference to your money management strategy, and in such a case it makes it impossible to apply
Quoting deltatrade
what happened to alpari? as i know it went into bankruptcy .didn't the clients get the money as they were obliged to keep the money in segregated accounts.
Yes, I got my money back(well, in some other broker's account), but it took over 2 years, I think.
Everyone can see the chart, but only a few can actually read it.
If the cap is 1:30, that will be fine. Traders that know what they are doing will still be able to make decent profits and it will make trading safer for the "crazy" ones. I suppose brokers all will be against the cap, they will be the ones who stand to lose the most...
i have small sl and tp for daytrading . i need a higher leverage of above 1:50 in order to make more money. if you trade 1 lot and you make 30% monthly trading 2 lots can bring you a 60%. so you need the leverage in order to have more powerful trades.
Quoting deltatrade
i have small sl and tp for daytrading . i need a higher leverage of above 1:50 in order to make more money. if you trade 1 lot and you make 30% monthly trading 2 lots can bring you a 60%. so you need the leverage in order to have more powerful trades.

If you want to make 60% monthly (or even 30% for that matter), its just a matter of time before you blow your account
Quoting ASCap
{quote} If you want to make 60% monthly (or even 30% for that matter), its just a matter of time before you blow your account
Bullshit , Ive seen several short term intraday traders live account statistics on another forum. They made around 50% /month with 2-10 lots , 10 - 20 trades per day one of them without losing day for a year or more.
Quoting todor113
{quote} Bullshit , Ive seen several short term intraday traders live account statistics on another forum. They made around 50% /month with 2-10 lots , 10 - 20 trades per day one of them without losing day for a year or more.

Maybe you should stick with that forum then... If you are calling my statement bullshit, then provide the proof of what you are saying otherwise you have no credibility. Simple as that.
ascap the returns can be real. even long term. from my statistics at 8 trades a day for daytrading with 1% risk per trade you can manage a 30% per month. with only 2% , that means doubling your position therefore accessing more leverage you can get the 60%. i've reached success later in trading. for years i just tried to find something that works and nothing worked. now i found many things that work and i got a feel of long term statistics .i know what to search for now. in the years to come i think i'm going to make it.
Theoretically it is possible. I once made 350% in a month on a 2k account but it is not realistic to expect that every month.
But there is always a possibility of the DD getting higher and blowing the account. You have to realise that trading is not linear and if you have success 1 or 2 months, it doesnt mean that you will do as well consistently in the future. All traders face a DD thats higher than they expected at some point and that is when you are in trouble if you are targeting such returns.

If you look at my TE you can see that if I raise the risk by a factor of 10, I would be making about 40% monthly on 35% max DD. You said you found your edge so lets see your TE and show us what your system can do. Otherwise your words are empty.

And please dont come here with grid or a martingale strategy. Those fail 100% of the time.
i will be here for two more years . we will have time to compare. from what i see in your te you have a winning aproach with a very high profit factor. so you would see that if you raise to 1% 30% is possible. the system that you have is stable and i like the fact that it has at least 100 trades. you said about dd. yes , they happen. my systems are not martingale or grid. they are mechanical ta.
Quoting ASCap
If the cap is 1:30, that will be fine. Traders that know what they are doing will still be able to make decent profits and it will make trading safer for the "crazy" ones. I suppose brokers all will be against the cap, they will be the ones who stand to lose the most...
I don't think brokers will lose on this one. Traders will just deposit more money to make/lose the same amount.
Quoting jakub.pajer
{quote} I don't think brokers will lose on this one. Traders will just deposit more money to make/lose the same amount.

Of course they will lose. Some people just dont have the money so they invest 5k and trade at high leverage. Now they will invest 5k and will have to trade at 1:30 max. I think a lot of people will just go ASIC or offshore brokers where higher leverage is still allowed.
Quoting Alcopop
I understand ESMA's purpose to protect investors. But as a small fx retail trader like me, the cap of the proposed leverage simply drive me out of the market instead of protecting my investment funds. Need help to look for new brokers that would sustain to offer me a better leverage. Appreciate for suggestions.

Use Global Prime , regulated in australia, i received an email today saying that they will keep allowing existing leverages to all clients. they are also very honest and really fill your trades, they are NOT market makers , but a pure ECN broker
Quoting luca1073
{quote} Use Global Prime , regulated in australia, i received an email today saying that they will keep allowing existing leverages to all clients. they are also very honest and really fill your trades, they are NOT market makers , but a pure ECN broker
Agree luca, Australian brokers are a really good option for those of us affected by ESMA.

I've opened an account with IC Markets, really pleased so far, just getting used to the platform so that I am ready to switch come August.

Still wondering whether EU-based brokers have something up their sleeves though... ;-)

All the best to you all, whatever you decide to do.
ESMA’s restrictive guidelines are fending off many traders especially those that hold small accounts. Trading within such stifling environment no longer feels like you are living in a free society. They’re putting curbs on everything in the name of protecting interests of traders when in reality we all know whose interests are getting served. Most of the traders are smart enough to know what leverage they can handle. 30x on CFDs and 2x on cryptos, really? This is a barren proposition. And isn’t it all about how well you are utilizing your leverage instead of how much of it you’re using? At least common traders like us should have a say/choice in what we want instead of just saddling it on our heads. A lot of people I know have been inconvenienced by this and have been compelled to switch to other brokers like Turnkey Forex, Coinexx, Tradersway, evolve markets etc. that don’t put up with this crap. And why should they? I have been dealing with such brokers and I don’ think I (or any other sane person) would continue dealing with these brokers if I felt my funds weren’t safe with them. IMHO offshore brokers are maligned unnecessarily. These are the sort of brokers that are not just good with trading conditions but they know how to keep the spirit of trading alive and are going to be the next big thing to watch out for as they are building trust of their clients based on reliable and efficient services. More power to them!
Quoting luca1073
{quote} Use Global Prime , regulated in australia, i received an email today saying that they will keep allowing existing leverages to all clients. they are also very honest and really fill your trades, they are NOT market makers , but a pure ECN broker
And now we have:
https://www.financemagnates.com/fore...-against-asic/

..
The letter which Australian brokers received today is signaling them to stop providing financial services to new clients residing in overseas jurisdictions where the broker is not licensed. In other words, firms which do not have an EU license, for example, can not onboard new clients from the EU
The wording of the letter sent out to Australian brokers by the ASIC’s OTC products compliance team is also mandating firms to take steps to close the open positions of existing clients from overseas jurisdictions where the broker is not licensed by the end of May.
..
Try Micro Futures maybe


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