I see a lot of traders account in the UK showing their profits/losses in Euros?
Isn’t a little silly because when they withdraw to their bank account wont the exchange rate affect it?
Why not simply use a UK broker so their are no conversion fees?
isnt uk using euro?
y not?
You can choose whatever denomination of currency you wish to trade in, regardless of where your broker is (at least in my own experience).
Personally, I use dollars in my sub-account for trading, simply because its a quick calculation to work out your gains/losses per pip before entering a trade.
I don’t get charged conversion fees by them, I deposit/withdraw in my home country currency.
We never took to the Euro for some reason Ireland uses it though.
You can choose to have your account in Euro if you like
I would like to know people’s opinion on the Leverage cap to 1:50
Which i hope will never happen.
is this not Excluding most of us new traders letting the bigger players carry on as normal…?
Also providing an easy way for Scam brokers to make more as New traders will have to deposit more…?
As somebody who has only just discovered Trading, this seems very Unfair and may stop me trading all together.
If people can’t manage there risk and lose there money then it’s there fault why penalize those who can.!
It’s the Scam Firms they should be looking at not the Leverage…
yes it will if they want to withdraw to GB Pounds
Lots of brokers offer GBP as Account currency not just UK Based…!!
Just choose GBP as your account currency when you open Broker account
Agree, but a lot of “fortune seeking” innocent people are being outright scammed like some of the recent threads are proclaiming, and now most have woken up to the whole COI that Counterparty “Brokers” engage in and which most of us have no choice to trade through…
Your suggestion of keeping dubiously regulated operations to a 1:30 - 1:50 cap would definitely steer the retail trade away from the increasing number of parasitic enterprises… But how would it be policed?.. As I have stated in previous posts, FX is a high risk “investment” strategy as far as government regulators are concerned, and so offer little interest when your “investment” goes bad…
The danger to retail traders funds is now so obvious to some Governments that regulators are now movinging on the Industry (Retail) to make it harder to access unless you have/can prove serious funding by implementing leverage control.
While leverage control will deter a large percentage of the “get rich quick horde”, it will open up the remaining unaware to even larger “stings” due to the increased capital requirements.
Most of the “Business” of Forex involves cross border transactions, and the regulators (and Julian Assange) are fully aware that recovery action, penalties, court orders etc. are of little or no use in an OS jurisdiction if and when imposed.
So why don’t they Cap what you can lose at Casino’s etc…
There is a bias of who can Enter the Market and it works in favor of the already wealthy People. institutions and businesses that are Raking in Profit .
So my £1000 will get me £50,000 with 1:50 Leverage
as opposed to £500.000 with 1:500
It’s Bull crap If people are losing money STOP trading and get Another job… SIMPLE
The Government will be telling us how to wipe our arse soon …
In Australia… it’s all about the revenue… the pubs, clubs and casinos are worth millions of Tax dollars. If your silly enough to pump this weeks pay (already less 27% income tax) into a Slot Machine or throw it on a Craps Table… it’s win, win…for the State’s coffers…
Always has… Always will…The Financial Markets are’nt there for our benefit…
A1len… you should visit Victoria, when you get off the plane you’ll get a Welcome Brochure, Bicycle Helmet, Cotton Wool, Wiggles Band Aids and a roll of toilet paper with our State Premiers face on every leaf…TRUE.
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May Visit Soon Mrs Uncle lives there somewhere They have a Bidet…
Thats Steep…
Financial year 2017–18[8]
Taxable income Tax on this income Effective tax rate
$1 – $18,200 Nil 0%
$18,201 – $37,000 19c for each $1 over $18,200 0 – 9.65%
$37,001 – $87,000 $3,572 plus 32.5c for each $1 over $37,000 9.65 – 22.78%
$87,001 – $180,000 $19,822 plus 37c for each $1 over $87,000 22.78 – 30.13%
$180,001 and over $54,232 plus 45c for each $1 over $180,000 30.13 – less than 45%
Welcome to the promised land… pick up your shovel… and sell your Donkey…
If the limited Leverage gets over the line in Europe, it won’t be long before it is applied to our market as well, which will really leave us at the mercy of the offshore vultures, or cease and disisting Forex…
I would rather risk putting £1000 in my broker than £10.000 as a new trader
Which i found to be just right for me
and it was changed to 1:50 i would have to Risk £10.000 in my broker…?
and if it was a scam broker they are just going to be Killing it…Them…!
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Exactly looks like a trip to Gibraltar to open my own broker when it does.
“Only gonna stay for the day to register though heard the locals are a bit rowdy”
if you can’t beat em…
RockSolid Capital… sounds reputable… 
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i have many of which i cannot post “just in case” all with Neons…
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