Leverage Capped

How about an orbiting server then ?

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Kind of like the pirate radio ships of the 60’s!

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That’s just what I thought ! :slight_smile:

Did you listen to Radio Caroline’s last 24 hours ? Pretty much everyone I knew at the time sat through whatever portion of that time that they could, with sadness as they learned the lesson for perhaps the first time in real life - that the monster abuser which is the establishment slowly and remorselessly took whatever steps it deemed necessary, changed whatever laws it needed to, to grind down and destroy the illusion of freedom and joy which the pirate radio ships brought to a whole generation who previously to the 24/7 transmissions from offshore in the north sea could only get “pop-music” by listening to Radio Luxembourg at midnight on a Sunday - when they did the current weeks “Top songs”

Even though the UK “Govt” had to bring out “Radio 1” and change the “light programme” to Radio 2, in a poor attempt to copy the input the demand the “Pirate ships” had filled with such vitality and panache, Once the establishment decide that they “know what’s best for you” to oblitterate a perceived problem or challenge to their “wisdom” - They will go to ANY lengths and spend ANY amount of YOUR money, to destroy any freedom you thought you may have left.

A certain resemblance to the current farce which is “their” attempt to interpret what we voted for in the Brexit “referendum”, in such a way as to ignore the wishes of the voters actually seems quite appropriate here as a comparison.

Incidentally, I was an almost addictive listener to “Pop-music” in those days - If I was awake, my little 8 transistor radio was doing what it could to let me listen to the likes of Terry Wogan, Kenny Everett" and “Spangles Muldoon” until the very very second that the airwaves went dead.

I can also say that despite the fact that I am taxed to pay the wages, sick pay, holiday pay, maternity pay, National Insurance, Super tax and gold plated pensions of those who eventually became “Radio 1” presenters and hangers on and those “civil servants” it was deemed “necessary” install to prevent riots and replace the enterprising and totally Free of charge people who were the “service provders” of their time, I have NEVER knowingly or willingly ever listened to one single second of “Radio 1” !

Quite odd really how emotions can be buried and dormant for all those years and still come to the fore instantly at the Cue of such a simple analogy !

As you were lads ! :wink:

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Hmmm. Pirate always played better music.

@Falstaff, @tommor, @anon46773462

So if we leave EU do we get or leverage back.?

Are we talking about the trader’s domicile or the broker’s?

Do i as a trader but “not Pro” trader .

Ps. pepperstone is capped in uk as it is pepperstone ltd. And regulated through FCA

Pepperstone in australia is under asian regulator
How much of a Scam is that.

I highly doubt it. FCA have been supportive of the ESMA moves throughout.

Well thats even worse news then.

Looks like im on the search for another broker
AGAIN…

Pepperstone ltd and Admiral markets out of the picture now.

@A1lenTrader You could try IC Markets in Australia, possible similar scenario to Pepperstone though…

I cannot fathom how simple people can be… these measures are not put in place to protect the retail trader…FFS…Like the non hedging accounts only available to the US citizens…wake up…

Like punting on the horses and Pokie Machines are being scaled back to protect the chronic gamblers that are destroying families 24/7 and the Bottle Shops (Alcohol sellers) that are being forced to limit the amount they sell to curtail the Alcoholic violence and misery out there…far bigger issues than FX and ever growing industries…

Government regulatory interest isn’t in your best interest…

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There,s a few i have been looking at but it sucks that you im bieng pushed from FCA regulatef to a non FCA so Basicly the FCA / Esna are just making it worse How stupid are these people.

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Write and send them a strongly-worded letter.
Or build a bridge and get over it already.

One point here that may not be very widely known:

Whilst these are the main retail trader changes:

Contracts for Differences (from 1 August 2018) - a restriction on the marketing, distribution or sale of CFDs to retail investors. This restriction consists of: leverage limits on opening positions; a margin close out rule on a per account basis; a negative balance protection on a per account basis; preventing the use of incentives by a CFD provider; and a firm specific risk warning delivered in a standardised way.

It is also noted that:

ESMA has adopted these measures in the official languages of the EU and they will remain in force for a period of three months from the date of application.

Next steps

MiFIR gives ESMA the power to introduce temporary intervention measures on a three monthly basis. Before the end of the three months, ESMA will review the product intervention measures and consider the need to extend them for a further three months.

Now, whilst I would be very surprised to see any blanket removal or reversal of these measures, there is a possibility that the brokers, who will inevitably be losing customers, may be able to argue for a scaling of leverage for retail traders who have shown their understanding and experience of these markets. This would be particularly relevant if those traders whom this is supposed to be protecting have only jumped ship to even more remote and unsafe ports - and thus completely undermined the purpose of these changes

ESMA gives their reasons for these changes as :

Steven Maijoor, Chair, said:
“The measures ESMA has taken today are a significant step towards greater investor protection in the EU. The new measures on CFDs will, for the first time, ensure that investors cannot lose more money than they put in, restrict the use of leverage and incentives, and provide understandable risk warnings for investors.

If brokers can argue that certain retail traders can, against certain defined criteria, be identified as equally professional as their “professional traders” then maybe things can be adjusted and loosened for them after this first three month trial.

Either way, if at all possible, it might be worth sitting patiently through this first period with your existing broker arrangements and see what changes are put forward - rather than rushing out to the first Panama/Grenadines “broker” that comes along.

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[quote=“Manxx, post:34, topic:158979”]
Now, whilst I would be very surprised to see any blanket removal or reversal of these measures, there is a possibility that the brokers, who will inevitably be losing customers, may be able to argue for a scaling of leverage for retail traders who have shown their understanding and experience of these markets.

This would be particularly relevant if those traders whom this is supposed to be protecting have only jumped ship to even more remote and unsafe ports - and thus completely undermined the purpose of these changes[/quote]

My point exactly… Don’t buy your cocaine in our country, but feel free to import it from abroad…

On the understanding and experience argument… when I opened my account with both Pepperstone and IC Markets in Australia, you had a 10, 15, 20 questionnaire (Can’t remember) on Forex, CFD’s, Financials, Markets etc…that had to be passed before a LIVE account was authorised to be opened…

Is this only these brokers, this country or is it already a worldwide requirement?

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@bradley79

Just out of interest are you affected by this.?

I am. But crying and making a big deal about it on the forums is just a waste of time and energy.
There are ways to express your grievances to the authorities or even organize a group/community such as BP and file a complaint.
If you’re not motivated enough to get up and do something about it - you shouldn’t complain.
But hey, I get it. It’s far easier to cry about it on the forums. Man up and do something or else shut it.

No im not crying bradley just furious and i will shup up when im good and ready.
You realy think me sending a letter is going to do anything.
I expressed my feelings on a forum for traders about something thats affecting me and many other traders.

Personally @bradley79, i think you are totally wrong in this particular matter. It is a hugely major change that affects just about everyone on this site- and i suspect that many have not, even now, started to realise what the implications are for them, especially the very small accounts.

I think this thread has brought out some important issues here and it is a critical matter if it directly affects and restricts one’s ability to trade as one has been used to doing.
Even more so if it is leading many people to change brokers. Which is not something the rules were designed to promote at all…

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Whats the point in new traders learnig on this site if they cant even trade unless they have 500k worth of portfolio and have been trading for a firm.
All that training / research to trade micro lots.