cant access my login account to withdraw account was locked by government...
Ignored
yeah, as i said previously in another ICmarkkets post. EU regulation have become so complex and irrational that even brokers are unaware of how to navigate.
on one hand at the EU level you have ESMA dictating financial framework and reporting
on the other you have individual EU countries issuing their own bans etc.
so what was the point of forming ESMA if countries are not gonna respect it and are still going to do their own regulations to overwrite the EU's governing body?
seriously, europe needs to get it shit figured out.
I think there is a misconception of what a regulator can or cannot do. European regulators are realizing, late, how badly they regulated CFDs with the cuts in leverage. The broker only has to obtain a license outside of their jurisdiction and they will be able to continue to offer higher leverage to their clients than the ones offered by European regulators. This is something that European regulators obviously do not like, as they lost many many Clients, however, 80% of investors will go to a broker that can still offer higher leverage. Perhaps they should have focused on educating the investors the risks of trading high leverage accounts rather than simply cutting the leverage. Now their approach is to ban a domain, which is totally ridiculous since brokers will only need to create a new domain and redirect their page. In the end, the decision where an account wants to be regulated is up to the trader, and there is not much that regulators can do more than recommend.
