The platforms with high leverage - instaforex, Octafx, Fibo group. Any restrictions you are facing in your region?
Please share your thoughts.
If you’re trading with brokers outside the EU, you are in the clear since the ESMA rules only apply to brokers regulated in Europe. The recent rules put some restrictions on the grounds that it is risky for traders to use such high leverage, so I guess we will have to adjust to that.
I use 1:30 leverage and it works for me. No restrictions.
But there has to be a solution right? We can’t just give up good platforms just because they are regulated and won’t let us use very high leverage.
Ah, this is the most common problem with traders. The ESMA regulations are pretty bad though.
Anyone using ASIC regulated brokers here? From what I hear they’re gonna go rigid too.
I thought I would use high leverage for a few trades but then I don’t go beyond 30x with Fxview and about 20x with Pepperstone. Since it works pretty well for me, I try not to risk much. If you’re a pro, you can even go upto 500x. But that’s just one opinion.
30x works for me too on most trades. Haven’t tried these brokers though. I’ll look into it. Thanks mate.
I’m new to all this and I was told 1:20 is a good leverage. Hoping to learn as I go.
There is nothing fixed in trading. What is good for one is not necessarily so for the other.
Like I said: I am still learning!
Yes, there are restrictions but as long as the trades are profitable, I go along with it. I use IG, XM and Fxview and there is also a negative balance protection so the risk is manageable for me. You can try some different brokers too.
IC Markets you need to use their offshore part now
Personally I prefer offshore brokers anyway
The broker one uses is irrelevant actually, it is all about one’s trading plan, risk management and all.
Not denying that at all, but with the right trading conditions, for instance tight spreads that some brokers offer, things get favourable for traders.
I too think that both brokers and trading plans are equally important.
Anything in particular you like about them?
The higher leverage.
The better trading conditions.
The faster withdrawals.
The crypto trading.
The better customer service.
NBP is indeed a boon to traders, my account would have been history otherwise.