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FCA Banning brokers!

  • #1
  • First Post: Sep 23, 2021 6:29am Sep 23, 2021 6:29am
in the past several weeks, so many really good quality brokers have stopped offering business to UK residents.
i am told because of FCA.

they even banned crypto, i use to love trading crypto on my SIPP with hargreaves.

FCA are trying to protect morons, amateurs and gamblers,
in the process "experienced" traders are suffering.
  • #2
  • Sep 24, 2021 10:53am Sep 24, 2021 10:53am
Completely agree... Wouldn't surprise me if they ban it all together for new traders! Probably protecting the people being scammed outright!
  • #3
  • Sep 24, 2021 3:18pm Sep 24, 2021 3:18pm
You're now experiencing what US and Canadian traders have dealt with for the past five years at least. Very frustrating.
  • #4
  • Edited 5:42pm Sep 24, 2021 5:20pm | Edited 5:42pm
Quoting TheUnknownTr
Completely agree... Wouldn't surprise me if they ban it all together for new traders! Probably protecting the people being scammed outright!
When you have brokers like hanko trade. yeah unfortunately this is what happens..
  • #5
  • Sep 25, 2021 12:12am Sep 25, 2021 12:12am
Quoting hazelj80
{quote} When you have brokers like hanko trade. yeah unfortunately this is what happens..
Is this the broker your with then?
  • #6
  • Sep 25, 2021 6:42am Sep 25, 2021 6:42am
Quoting fxguru2010
in the past several weeks, so many really good quality brokers have stopped offering business to UK residents. i am told because of FCA. they even banned crypto, i use to love trading crypto on my SIPP with hargreaves. FCA are trying to protect morons, amateurs and gamblers, in the process "experienced" traders are suffering.
Hi fxguru2010................it is never about protecting anyone. Its about attempting to control everyone. These actions are going on all over the world. I know the FCA appreciates you saying they are protecting those that you named in that last line, but its NOT SO. Best of trades to you.
  • #7
  • Edited 11:27am Sep 25, 2021 8:29am | Edited 11:27am
In Canada we got like 3 Market Maker brokers with horrible spreads who are only looking for losing traders. Oanda kicked me out because I made to much money this year to...its fucking retarded. Its harder to actually find good quality trading broker then to make money in forex at this point here.
  • #8
  • Sep 25, 2021 12:06pm Sep 25, 2021 12:06pm
Quoting TheUnknownTr
{quote} Is this the broker your with then?
Hell.no they're always trying to recruit people lol
  • #9
  • Sep 26, 2021 2:18pm Sep 26, 2021 2:18pm
Quoting Redbaron81
In Canada we got like 3 Market Maker brokers with horrible spreads who are only looking for losing traders. Oanda kicked me out because I made to much money this year to...its fucking retarded. Its harder to actually find good quality trading broker then to make money in forex at this point here.
If you keep getting kicked out, I would most likely suggest a prop firm to keep going!
  • #10
  • Sep 27, 2021 11:35pm Sep 27, 2021 11:35pm
Quoting Redbaron81
In Canada we got like 3 Market Maker brokers with horrible spreads who are only looking for losing traders. Oanda kicked me out because I made to much money this year to...its fucking retarded. Its harder to actually find good quality trading broker then to make money in forex at this point here.
Give TMGM a go, Aussie broker who can still take on CA clients and legit.
  • #11
  • Sep 27, 2021 11:52pm Sep 27, 2021 11:52pm
Quoting TheUnknownTr
{quote} If you keep getting kicked out, I would most likely suggest a prop firm to keep going!
Yeah this would bs the best way to circumvent this . FTMO comes to mind. heard they're pretty good
  • #12
  • Oct 7, 2021 12:10am Oct 7, 2021 12:10am
Thank you guys for your input, much appreciated.
  • #13
  • Oct 7, 2021 12:12am Oct 7, 2021 12:12am
Quoting gzbolt82
{quote} Give TMGM a go, Aussie broker who can still take on CA clients and legit.
Thank you. Will look into this.
  • #14
  • Oct 7, 2021 12:14am Oct 7, 2021 12:14am
Quoting TheUnknownTr
{quote} Is this the broker your with then?
Yes 3 brokers, which have good spreads, gave high leverage, ability to trade Crypto, but within the last month or so whilst they will deal with European traders but NOT UK.
  • #15
  • Last Post: Oct 7, 2021 12:18am Oct 7, 2021 12:18am
Quoting TheUnknownTr
{quote} If you keep getting kicked out, I would most likely suggest a prop firm to keep going!
Thanks buddy, any suggestions which prop firms highly recommended.

I did try Funding Talent, seemed good had a good pay out month 1, Month 2 they refused consistency rule, because i did a big trade - it was a mother of all shorts on nasdaq sell out! i was mostly trading BTC and DJ/NAS, but then they stopped it, then they brought it back, but with massive spreads. And now they have changed the entire rules with the new Edge. So am looking around for a reliable prop company
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