In other news —
The European Securities and Markets Authority (ESMA) intends to further restrict retail trader access to CFD’s and spot forex, and to ban altogether retail trading of binary options.
In particular, notice the threatened leverage restrictions in the Statement reproduced below.
ESMA continually uses the phrase “CFD’s including rolling spot forex”. Rolling spot forex is the technical term for our spot forex market – and, although we normally don’t consider our trades to be CFD’s, ESMA clearly does.
This move by ESMA is just the latest attempt by nanny government bureaucrats worldwide to eliminate the retail trading of products they deem to be too risky for us little folks.
Soon, retail forex traders in Europe will need a thread like this one to help them make their escape from the Euro Nanny State.
Here is the ESMA statement:
Our beloved CFTC has added Capital City Markets to their so-called RED List.
The RED List is the CFTC’s list of forex brokers (and some other entities) which are outside the U.S., and beyond the reach of the CFTC, which nevertheless are suspected of doing business with U.S. clients – gasp !!
This brings to 4 the number of brokers on our Offshore Broker List that the CFTC has singled out for this special recognition. The other three are Trader’s Way, FX Choice, and Finpro Trading.
Our congratulations to Capital City Markets for earning this prestigious award.
If you like reading CFTC press releases – and, who wouldn’t want to waste a Friday evening doing that? – then this will give you a thrill: