How Can I keep trading with 1:100 leverage when living in a EU country?I have been using OANDA Europe division until now.
Trade with a non European regulated broker. There are a couple of Australian ones with good reputations.
Can you name a few good Australian brokers accepting EU residents?That means I would trade using Australian dollar?Can I ask Oanda to change my account to Australian Division ⌠would that work?
I use ICmarkets, and they seem to have positive reviews. Pepperstone are also Australian. You should do some research, because I donât want to be blamed for anything you think has gone wrong from broker choice.
Most brokers you can set your account to be in different currencies, so you should still be able to have a GBP or EUR account.
I donât think changing Oanda to the Australian division would work. I think you need a broker that isnât regulated by an EU body.
@Lavourah I use IC Markets (in AU) as well and they are fine⌠price feeds can be wonky from time to time. I know they donât accept US Citizens because of the Dodd-Frank Law so the same may apply to EU / UK Citizens because of the ESMA RulingâŚ??
I have been doing some recherce and I will go for ICMarkets , they have all the criterias I need from a Broker , they seem good.
Go offshoreâŚ
@chesterjohn @lavourah shifting to an aussie broker will not help cos the ESMA is applicable based on ur residency and/or citizenship⌠a friend of mine from EU was with peperstone an got an email to manage his risk to 30:1 and his request to move to peppertone aus division was denied as he was is a EU resident. ASIC broker will have to comply with ESMA. They will treat based on your country of residence or citizenship.
Best bet is to choose one the offshore guys from this coveted BP link
and this new one as well if are more crypto centric, though the link above is more credible and time tested
And for me, I trade with turnkeyforex. it features in both the links and has loads on reviews on the forums. So do your due diligence and choose an offshore broker.
Hope it helps
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My leverage hasnât reduced and I live in the UKâŚ
Peppertone (Aussie company ) is like Oanda ( US Company ) both not European but establish in all continents while IC Markets is establish only in Australia ⌠If Oanda did not had created some years ago the European division , they would not have reduce my leverage because of ESMA ⌠has long IC Markets does not open a division in Europe they dont have to follow ESMA ruling , and they will never open one in Europe now with this ruling , brokers now want to go away from Europe not coming in.
Pepperstone and Oanda might be obligated to lower your leverage if youâre trading with them and youâre in the EU.
On the other hand, IC markets is only Australia based (no office in the EU) are not obligated to follow the ESMA rules, like you said.
So, I guess there will be an influx of EU traders to them. I wonder if theyâll notice it.
Iâm absolutely gobsmacked how obviously inept the ESMA regulators are. No wonder the EU is crumbling. To allow a loophole, where all you supposably regulate can just go around the ruling and continue as normal in another jurisdiction in this day and age is quite unbelievable.
The Industry has either blackmailed them, promised riches and/or latter employment, just as happens in the US of AâŚ
Personally, I believe itâs a mix of several reasons.
- Rushed it.
- The ones deciding on these changes live in their own bubbles.
- Got paid by lobbyists
- They donât quite understand how the markets work, and have no concept of the freedom that the internet provides.
- Do not care about the traders
- The brokers (especially the Market Makers) would prefer to have a majority of âprofessionalâ traders due to the fact that once you are classified as a pro - no more negative balance protection, no more best order execution conditions and so on. Instead of having newbie traders with negative balance protection.
The outpoor of newbies means that they will require less customer support. - This is a potential hit to the small brokers that will lose clients because of the lower leverages. = less competition for the big brokers
And these are just some of the reasons I can think of.
I guess this is the reason why weâre not seeing much fuss from the brokers.
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Who are you trading with and are they fully regulated and registered within the EU?
I managed to get a âprofessionalâ status, so goodness I donât have to worry about this anymore. But I really recommend for everyone whoâs not on board with ESMAâs rulling to join ICMarkets. Iâm an EU resident myself and I immediately opened account there after I found out about the upcoming changes, and I still can trade with up to 1:500 leverage with no restrictions after the rules have come in to force.
Well yeah, someones asked the question and iâm trying to help!
As you do.
As you are!
Whatâs the problem?
Well perhaps you could âHelpâ by demonstrating SOME knowledge - rather than by providing free advertising for what appears to be a company acting illegally in the UK ?
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Wow!
I take it your like a âgatekeeperâ of some sort, iâve seen a few brokers mentioned in this thread thing but donât see you saying the same to them which is quite suspicious now that iâve mentioned itâŚ
I donât know why I am bothering to explain but I have accounts with XM, ICM and Axi.
ICM offered ME the best deal and I have since found out that they are not âacting illegallyâ otherwise i wouldnât be using them for a start! I want to share on a forum some decent advice for other people as i was in their shoes, in fact you donât seem to be a fan boy of ESMA so I donât really understand your comments. You are obviously some sort of advertiser, working for a broker, and donât like it that someone has mentioned another company who you obviously are not affiliated with.
He is not an ESMA fanboy⌠nor are the rest of us. However, most of us are fanboys of legally working brokers i.e. regulated.
There are lots of regulated brokers who accept EU clients and provide them with high leverages.
For example - Australia regulated brokers (which do not have EU offices).
Keep in mind weâre talking about brokers regulated with a big, reliable regulator. Places like Vanuatu, St Mauritius, St Vincent and The Grenadines are not locations that are famous for proper regulation.
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HI @bradley79 - Youâre quite right of course. 
I decided Not to respond to his diatribe, since it is obviously BS and he seems to me to be just using the âargumentâ to âBumpâ the thread and his blatant advert up to the top of the listings again.
I hope the âNewbiesâ have enough good sense to ignore his BS and keep their money with a broker who IS regulated AND reputable, but hey if they want to give it to someone in a stripey shirt and wearing a mask, carrying a bag marked âSWAGâ - well thatâs up to them ! 
You have responded though, because you EGO has had a slight dent and you canât accept that I have a good broker âICMâ, to whom I use and wanted to let other people know, you started this Falstaff with your egalitarian gatekeeper attitude (Oh look guysâŚsome scruffy oik has only made 3 posts vâs my 1800 posts so therefore he must be a twatâŚ") and now you started trolling me all over the place. You clearly have a problem with the LEGAL companies I have mentioned as you think I am on your âTurfâ, and potentially âherdingâ million of pounds, but you are very far from wrong. I understand you are advertising the company you work and the veil has slipped somewhatâŚ
I think you ought to look for self validation elsewhere.