And so the talks continue… should be getting an update on these proposals passing into European legislation rather soon.
Here is link to the full consultation paper: https://www.fca.org.uk/publication/consultation/cp16-40.pdf
I believe most of the serious brokers have already implemented the proposed restrictions including lower leverage levels. IMO nobody is reading the risk warnings anyways, although they are pointed on several places on broker’s sites. Most of the retail clients just want to try their luck with trading and don’t care about the risk. Maybe that’s the reason for the 82% losing money… As for the bonuses I agree that they shouldn’t be offered from brokers to attract clients.
I agree with Eyedfondue that most serious brokers have implemented these new rules. These steps need to be taken especially for binaries as we all know what a huge scam they are. However I am not sure how the idea for leverage for inexperienced traders will be accepted as there are many traders who like to use high leverage and don’t care about the additional risk.