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Australian financial regulator ASIC starting to sound a lot like the EU regulator ESMA with regards to high leverage for retail clients, leverage reduction may be on it's way.

https://www.financemagnates.com/forex/brokers/australian-regulator-worried-about-flash-crash-events-leverage/

"While the focus of the European regulators has been on delivering a plain and simple message that retail clients are losing too much money while trading, the ASIC’s focusing on a specific issue – the structure of markets and “ridiculous leverage”. 

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"Following in the footsteps of ESMA, Australian financial regulator the Australian Securities and Investments Commission (ASIC) is planning on adding restrictions on CFD trading and completely banning binary options. Whilst the latter is no surprise, are ASIC’s measures regarding CFD’s in the country’s best interest?"

https://www.financemagnates.com/forex/regulation/are-asics-product-intervention-measures-in-australias-best-interest/

  • Sad 1

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Could be worse🙄

In Germany they have  to pay tax on losses also? (2021)

"The most important change in a nutshell: In future, losses from forward transactions can only be offset against profits from forward transactions and only up to an amount of EUR 10,000 per year. This leads to paradoxical results in taxation. In extreme cases, limiting the offsetting of losses can even result in taxes having to be paid even though losses have been generated (see example below)"

https://www.godmode-trader.de/artikel/die-schlimmsten-befuerchtungen-bewahrheiten-sich,8027934

Edited by Kodiak

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"Taxation of futures: the worst fears come true! A change in the taxation of futures creates a lot of discussion among traders. GodmodeTrader asked the Federal Ministry of Finance. The answer provides clarity - and new worry lines."

so this is a German govt initiative then, thank goodness we're leaving.

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The UK can become an offshore casino and offer spreadbetting to people from all over the world :P

 

  • Great! 1

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