ESMA RULING AND WHAT I AM DOING

[JohnRoxton]

5 minutes ago, LeoTrader said:

The ESMA regulations aren't legally a permanent change to legislation; they have to be reviewed and reimposed every three months if still deemed appropriate. I think they can keep them rolling for as long as they want though, so effectively permanent if they so choose.

"MiFIR gives ESMA the power to introduce temporary intervention measures on a three monthly basis. Before the end of the three months, ESMA will review the product intervention measures and consider the need to extend them for a further three months."

Source: www.esma.europa.eu

Thanks for the detailed reply.

There is hope after all then:)

But I doubt they will reverse what they have started, I suppose best we can hope for is a slackening of the leverage rules. 

Have to say though that the negative balance rule is a blessing for the retail trader.

[LeoTrader]

2 hours ago, Sunny Days said:

Lets hope that after the 3 months "trial" the ESMA reduce the margins. Not holding my breath on this one.

 

29 minutes ago, JohnRoxton said:

Thanks for the detailed reply.

There is hope after all then:)

But I doubt they will reverse what they have started, I suppose best we can hope for is a slackening of the leverage rules. 

Have to say though that the negative balance rule is a blessing for the retail trader.

You're welcome.

I hope for the same too. Loosening their chokehold on retail traders by reducing the leverage restrictions a little is the best we can hope for, and there's plenty of room to do that and still 'justify' their existence (ESMA got these new powers in January and they obviously want to use them - just like a kid with a new water pistol).  

Edited August 13, 2018 by LeoTrader

[Caseynotes]

Knowing the EU we should consider the flip side to the rolling 3 month trial is that it also gives ESMA the opportunity to see what loopholes and work arounds the brokers come up with and then close them down with amendments to their regulations.

[Guest Medusa123]

Re IC - I haven't place a trade yet but will do so soon - but I am still very impressed with them.  I did try IG Australia but their service was not too good so decided not to apply.  If anyone is interested I will let you know about how the actual trading goes.

[Guest PandaFace]

@Sunny Days @JohnRoxton Yeh I don’t think three months will come and go - they’ll either roll it or the FCA will implement their own regulating on it. 

[LeoTrader]

3 hours ago, Caseynotes said:

Knowing the EU we should consider the flip side to the rolling 3 month trial is that it also gives ESMA the opportunity to see what loopholes and work arounds the brokers come up with and then close them down with amendments to their regulations.

That's a very good point. ESMA should also consider the fact that the harder they push, the more they encourage retail traders to trade outside their jurisdiction too.

[Guest aswler]

On 7/27/2018 at 9:32 AM, Medusa123 said:

I can't find the thread to post this entry on - it is the one started by James re ESMA

I have now opened an account with IC Markets which I will try out - they are a very young company but they do seem to be OK.    I value freedom and I refuse to bend down under ESMA's rulings so decided to 'walk' as this negates ESMA's power over me and what it is trying to do which is to make me a slave.   I do hope many others will not bow down to the Master Esma wants to be.

@Medusa123 I have also registered with them but find their trading platforms rather inferior: how are you staisfied with the ctrader? I miss the trading from charts functionality with direct display of the limits in the chart. Also the one-click trading does not allow you to specifically set the stop loss. When I open a chart I first have to maximise it to get my indicators displayed. Have I overseen anything or is your experience the same?

[trade247]

Ya'll know about these new knock outs right on the spread betting IG UK site and the fact you basically have a 1% margin requirement or 100:1 leverage? assuming stops are as close as possible which is 1% away from market.

So £77 odd quid to trade FTSE with a 77 point guaranteed stop. Tax free as spread betting.

 

[Caseynotes]

Esma extends for another 3 months the new regulations but there is a nod to longer term type options/binaries like the new IG KOs.

https://www.ft.com/content/5fd9b9d0-a769-11e8-926a-7342fe5e173f

[JohnRoxton]

41 minutes ago, Caseynotes said:

Esma extends for another 3 months the new regulations but there is a nod to longer term type options/binaries like the new IG KOs.

https://www.ft.com/content/5fd9b9d0-a769-11e8-926a-7342fe5e173f

Thanks for the update.

[trade247]

Well who saw that one coming. Kinda makes you wonder why they even say a time frame when they have the power to continually roll. I mean, I know there was no reason for them to revert (and that would NEVER have happened) but it does seem odd to me. Would be interested in the reasoning.

[Caseynotes]

The rolling review gives esma the opportunity to tighten the regs rather than loosen so it was a bit of a relief that they are exempting the new KO type options offering when they could have crippled them.

Another update here;

 https://www.leaprate.com/binary-options/regulation/esma-extends-binary-options-trading-ban-into-2019/

[Guest scs1987]

Hi Guys,

 

I came across a provider called Alpari, they offer binary options and to UK clients. Has anyone used them and are the good?

 

Thanks

[JohnRoxton]

16 minutes ago, scs1987 said:

Hi Guys,

 

I came across a provider called Alpari, they offer binary options and to UK clients. Has anyone used them and are the good?

 

Thanks

Keep away from Alpari if I were you. They seem to lurch from one financial crisis to another and several complaints about a dishonest platform. 

There is no need to go to fx brokers such as these, plenty of reliable and proven brokers out there. 

If you are particularly interested in binary options then that will make it a tad mote difficult for you.

[Caseynotes]

I remember they very nearly went bust around 2014 and had to be saved by an Asian consortium. Very checkered history. Check the review sites and search complaints with emphasis on ease of withdraws of funds tends to be a good indicator.

[Guest scs1987]

Cool, thanks for the advice peeps

[Guest scs1987]

BTW, does anyone have experience with dukascopy? They offer binary options for UK clients, requires £1000 deposit but seem legit.

[Guest Turnip230248]

You can always try the Futures market- 🙂 Micro Futures)

https://www.ampglobal.com/exchange_traded_futures/margins_requirements.html