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Breaking: ESMA finalizes new rules to govern leveraged trading 348 replies

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European Traders - new ESMA regulations!

  • #21
  • Jun 26, 2018 7:38am Jun 26, 2018 7:38am
Quoting alphaomega
{quote} 30:1 is Ok for swing trading with ONLY ONE PAIR! But it's not enough for active day trading and scalping. And not to mention about more complicated systems with multi currency baskets. I don't know how many times I have to explain that the leverage is a TOOL and there is no such thing as "too high leverage". Some people know how to use the tools other don't. With high leverage you can control risk much better. For example you can diversify your capital across multiple brokers. Instead of putting all capital in one account,...

But it´s exactly what I do since years-- and it works fine.
Normally I trade 1 lot each 3 to 5k accountsize.
Depends on the timeframe.. and instrument (mostly Cable, EJ, EU, and rare others)


As I said-- I see ZERO problem..

It is definetly enough for active trading and scalping like hell.
There will always be something on the way we need to handle.
The successful will, the others have excuses.

This discussion leads to nothing.
I´m back to trading and won t share more time in this thread.
Good luck--
May you all handle it.

Guido
Risiko birgt immer auch die Chance.
  • #22
  • Jun 26, 2018 7:42am Jun 26, 2018 7:42am
Quoting alphaomega
{quote} 30:1 is Ok for swing trading with ONLY ONE PAIR! But it's not enough for active day trading and scalping. And not to mention about more complicated systems with multi currency baskets. I don't know how many times I have to explain that the leverage is a TOOL and there is no such thing as "too high leverage". Some people know how to use the tools other don't. With high leverage you can control risk much better. For example you can diversify your capital across multiple brokers. Instead of putting all capital in one account, you can deposit...
WORD!!!

Quoting Sesamstrasse
{quote} But it´s exactly what I do since years-- and it works fine. Normally I trade 1 lot each 3 to 5k accountsize. Depends on the timeframe.. and instrument (mostly Cable, EJ, EU, and rare others) As I said-- I see ZERO problem.. It is definetly enough for active trading and scalping like hell. There will always be something on the way we need to handle. The successful will, the others have excuses. Good luck-- I´m back to trading and won t share more time in this thread. May you all handle it. Guido
Dude...3K account??????

1 lot is $10 per pip, Broker stops $3.3K for this...so U cant open a position like this, and even if you could - there is auto trade-stop on
50% draw-down...which you automatically enter with such trade...

Anyway - it might suits you and another 5%, but most ppl rely on leverage 1:100 and more and low margin.
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
  • #23
  • Jun 26, 2018 7:56am Jun 26, 2018 7:56am
Quoting alphaomega
{quote} 30:1 is Ok for swing trading with ONLY ONE PAIR! But it's not enough for active day trading and scalping. And not to mention about more complicated systems with multi currency baskets. I don't know how many times I have to explain that the leverage is a TOOL and there is no such thing as "too high leverage". Some people know how to use the tools other don't. With high leverage you can control risk much better. For example you can diversify your capital across multiple brokers. Instead of putting all capital in one account, you can deposit...
Yes, it's like having a Ferrari (leverage), but you have to control, at what speed you put it ...
  • #24
  • Jun 26, 2018 8:13am Jun 26, 2018 8:13am
Quoting alphaomega
{quote} 30:1 is Ok for swing trading with ONLY ONE PAIR! But it's not enough for active day trading and scalping. And not to mention about more complicated systems with multi currency baskets. I don't know how many times I have to explain that the leverage is a TOOL and there is no such thing as "too high leverage". Some people know how to use the tools other don't. With high leverage you can control risk much better. For example you can diversify your capital across multiple brokers. Instead of putting all capital in one account, you can deposit...

Indeed, why take a tool out of the toolkit - traders can be given the option when they open accounts to have a "safer" account if they really want.
  • #25
  • Jun 26, 2018 8:41am Jun 26, 2018 8:41am
I've already an account with Dukascopy Swiss - leverage 1:100 but currently they should offer also 1:200.
Fast, reliable, never had an issue with them.
  • #26
  • Jun 26, 2018 8:50am Jun 26, 2018 8:50am
Quoting Catch-22
{quote} Indeed, why take a tool out of the toolkit - traders can be given the option when they open accounts to have a "safer" account if they really want.
Yes. They had to set 30:1 as the DEFAULT leverage for new accounts. But to leave the option for anyone to increase the leverage after you sign additional document where you declare the you are familiar with all risks and you take full responsibility for your actions and all resulting consequences.
  • #27
  • Jun 26, 2018 9:37am Jun 26, 2018 9:37am
JFD Brokers say that MTFs will not be restricted in the same way.
Return To Disorder
  • #28
  • Jun 26, 2018 11:30am Jun 26, 2018 11:30am
Quoting Maxjoy
Hi Everyone, I would like to ask all EU traders on their opinion and views on incoming Leverage and Margin restrictions by ESMA. I personally think that this new rules will have negative impact on Retail Traders and are created to protect brokers, not us...however EU brokers will lose a lot or retail clients to overseas and unregulated counterparts if solution is not found. What's your Plan B? {image}
Over the past year I have been with Dukascopy Europe, Tickmill UK and FXpro cyprus . My money was divided into 3 parts. Now I'm thinking of going To the Swiss Dukascopy, all my money. Reducing leverage to 1:30 on Forex will not be very convenient for me, although I will do 1: 50 on my own. FXpro Cyprus is not dependent on ESMA, but I would not advise, as the spread and Commission were worse by about 5-10% of the net profit compared to Dukascopy Europe and Tickmill uk. I liked Dukascopy in all plans, commissions and spreads, like Tickmill, which is very cheap. So today I asked technical support what will happen to the transactions that I opened in February and April (I'm not a day trader), when the leverage will be changed on August 1, if it will be applied to these transactions, including they will be closed stop out (not like it!)
  • #29
  • Jun 26, 2018 11:38am Jun 26, 2018 11:38am
Quoting DotMag
I've already an account with Dukascopy Swiss - leverage 1:100 but currently they should offer also 1:200. Fast, reliable, never had an issue with them.
DC Swiss had some hidden fees like maintenance, no use of account and insurance fees...didn they?
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
  • #30
  • Jun 26, 2018 1:01pm Jun 26, 2018 1:01pm
Quoting Maxjoy
{quote} I would not say thats the most important - Auto Trade close at 50% is pretty harsh...how your account will go on minus...trading some crazy Exotic pairs w/Amazing Gaps... They tide your hands and call it a favor...
Did you read about all the people who got hit by the eurchf gap? (1500 pips), no stops being honoured, high leverage, people selling their houses and fighting in court...
  • #31
  • Jun 26, 2018 6:01pm Jun 26, 2018 6:01pm
Quoting cuchuflito
{quote} Did you read about all the people who got hit by the eurchf gap? (1500 pips), no stops being honoured, high leverage, people selling their houses and fighting in court...
Thats one incident, years ago and ppl know the risk...so you say, because incidents happen lets drive with max 30 km/h on the highway...???
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
  • #32
  • Jun 27, 2018 12:20am Jun 27, 2018 12:20am
Quoting Maxjoy
{quote} DC Swiss had some hidden fees like maintenance, no use of account and insurance fees...didn they?
After the first year, DC Swiss applies a maintenance fee every six month if you don't do at least a trade in the period (max fee should be 200€ in a year).
About the CHF Black Swan in january 2015, they choose to compensate by themself the negative balances accounts.
  • #33
  • Jun 28, 2018 1:19am Jun 28, 2018 1:19am
Still just over a month to go for the EU brokers to pull something out of the bag...

My Plan B is to move my funds over to IC Markets, I've already opened an account to get used to the platform and it all looks good so far!
  • #34
  • Jun 28, 2018 2:21am Jun 28, 2018 2:21am
Quoting tradesimply
Still just over a month to go for the EU brokers to pull something out of the bag... My Plan B is to move my funds over to IC Markets, I've already opened an account to get used to the platform and it all looks good so far!
Whats the Pros & Cons there?
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
  • #35
  • Jun 28, 2018 8:30am Jun 28, 2018 8:30am
Quoting Maxjoy
{quote} Whats the Pros & Cons there?
Pros: good leverage, nice platform, orders filled no problem
Cons: will have to pay UK tax (spread betting at the moment)

Unknowns: speed of withdrawals, haven't done it yet but looks straightforward
  • #36
  • Jun 28, 2018 8:53am Jun 28, 2018 8:53am
Quoting tradesimply
{quote} Pros: good leverage, nice platform, orders filled no problem Cons: will have to pay UK tax (spread betting at the moment) Unknowns: speed of withdrawals, haven't done it yet but looks straightforward
Thanks for the prompt reply mate!
Keep us posted!
I personally hope that my local broker will be able to add me to the PRO traders accounts...
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
  • #37
  • Jun 28, 2018 10:03am Jun 28, 2018 10:03am
Quoting Maxjoy
{quote} Thanks for the prompt reply mate! Keep us posted! I personally hope that my local broker will be able to add me to the PRO traders accounts...
No problem :-)
I'm hoping my UK broker pulls something out of the bag too, I still can't quite believe they are just going to let all those clients go elsewhere!
  • #38
  • Jul 8, 2018 7:35pm Jul 8, 2018 7:35pm
Quoting alphaomega
{quote} And what about the crosses? 20:1 leverage.
But you CANNOT do any of this when your broker demands 3.33% cash for each position. And what about the crosses? 20:1 leverage.

And index CFDs and crypto [2.1], leverage is even less,.... pityful.
  • #39
  • Jul 11, 2018 3:35am Jul 11, 2018 3:35am
I see many EU brokers already posted the Pro Trader Forms on their pages...anyone already applied? ... approved?
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
  • #40
  • Jul 11, 2018 6:11am Jul 11, 2018 6:11am
Quoting Maxjoy
{quote} Whats the Pros & Cons there?
I trade one of my accounts with IC Markets and it's hands down the best conditions I ever had in my years.
you are not expected to understand this
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