Sorry forgot to say I’m in London 
Really, I joined Pepperstone Australia to get 500:1 leverage.
Did you open a new application through their Australian website? www.pepperstone.com.au
It worked for me.
It’s true. If you’re not trading with a broker regulated by FCA, you lose some benefits like negative balance protection and the ability to complain to a trusted regulator.
Do you think it is worth it? 30:1 and 500:1 are just so very different.
What other protections do you get with FCA that you don’t gain with ASIC?
That’s true. It’s really risky to trade without any regulations. FCA is among the most respected authorities within the financial world that aims to protect consumers, enhance market integrity and promote healthy competition that ensured by the range of strictest demands and regulatory protocols to the licensed companies. The authority is highly active in its supervision tasks, constantly getting involved into each licensed broker operation, checking their performance, follow of guidelines and investigates cases.
I’ve checked some fca broker lists like this and there a lot of great brokers with cool trading conditions.
I asked pepperstone and they said they cannot open an account for me through Australia. Profiforex has high leverage, no regulation but still offers negative balance protection.
It depends on everybodys situation, for me high leverage is priority at the moment. Actually, ASIC protection applies to Australian residents only, its not applicable for EU citizens. the only advantage is that you can assume that the asic the broker is more trustworthy than a random offshore one.
Hey @pazartesi
I was mucking around on live chat with a few dual regulated brokers ASIC & FCA trying to find out if I could switch. It was a little difficult at first, they always talked about becoming a Pro Client but who has $500K right!
When I first asked Pepperstone UK team (Can I open with ASIC) they said I would need to speak with the Australian arm about it (live chat). They also told me the FCA leverage caps were also in my best interest so I should consider if 500:1 is right for me.
As a scalper, I think it is.
I told their live chat, I want to open with ASIC and they gave me the link to their Australian website: www.Pepperstone.com.AU
Scalping solutions 
I just reviewed ProfitForex and am not sure about brokers offering promotions like their ‘free cheese without a mouse trap 500% bonus’ promotion.
- Margin credit/not cash (Margin cannot help you if your trades PnL moves against you. Margin is cheap at 500:1)_
- You need to do alot of volume to get the bonus
If I trade 5000 lots, I would receive $5000. That is like saying, if you trade $500,000,000 in the market, we will give you 0.00001% back
_
There is a good page for discussing margin bonus’s: Hotforex 100% credit bonus --- Not Really a Bonus?
I have never tested this broker, so maybe they are good, but why switch to an unregulated broker at all? I would much rather go to an ASIC broker who is offering me excellent spreads/execution and some tools to help me trade better/more informed, then another broker who is pushing promotions that give no real advantage. But like I said, I havn’t traded with Profiforex before.
Well if you are non-EU citizen then ESMA rules don’t apply to you. It’s interesting whether there are some enforcement mechanism for EU citizens which attempt to escape new rules trading with offshore brokers or located in Australia for example
That sounds either like a lie or very suspicious with regard to your recommended Bookmaker ! 
Don’t forget that unregulated broker does not equal to bad broker…
If you are worried about broker running away with your money, just divide it among different brokers. Which is of course very difficult to do without leverage because you have to have lots and lots of cash sitting in one account. Much safer is to have higher leverage and less money at your brokers diposal.
Would you mind defining “unregulated broker” for us please ? 
That would be the opposite of “regulated”.
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Well “regulated brokers” are acting Legally !
So you mean “Illegal broker” then ?
It is not compulsory for a broker to register with a specific regulator. An offshore broker is a legal entity operating legally in accordance with the laws of its local jurisdiction. This broker can choose to comply with the requirements of FCA, ASIC or whatever other regulator. Whether he choses do so or not, does not affect its legal standing in local jurisdiction. By “illegal” you might mean that it is not allowed for certain nationals to open an account with such broker, but that is something everyone needs to check for himself in his own country.
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There now - you seem to have managed to “define unregulated” - by muddying the waters the moment I said “Illegal” ! lol ! 
So are you saying the gambling house advertised a few posts back by @MLewis is a wonderful broker then ?
Hmmm… you went long on US Indexes didn’t you…
Yeah that’s more like it Falstaff. You can’t win them all.
ESMA was only meant to be for 3 months, then it was extended to 6 months. I have a feeling that come early next year it will be lifted.
Trying to stop people losing money by upping the magrin requirements means depositing more money, therefore leaving yourself open to lose more money. It simply makes no sense.
Brokers didn’t complain too much as Aug 1st was a stopout ‘pay day’ for a lot of them, but i guess they are feeling it now.
very late though! i think he requested his account to be moved aus pepperstone!
Hi everyone! I am a new member to this forum. I am currently trading using Swiss Markets and I trade on a short term - to medium time scale.
They are European but authorised and regulated as a securities broker by the FSA and FSC
Leverage in classic is up to 1:500 and for RAW STP accounts up to 1:200
[quote=“MLewis, post:47, topic:151120, full:true”]
ESMA was only meant to be for 3 months, then it was extended to 6 months. I have a feeling that come early next year it will be lifted.
Trying to stop people losing money by upping the magrin requirements means depositing more money, therefore leaving yourself open to lose more money. It simply makes no sense.
[/quote]I think it does. Tilting and weird Martingale strategies cant be practised.
I did not notice the change btw but I trade longterm and would even prefer 1:10 leverage
I’ll have to disagree. They’ve been working on this regulation for over 2 years.
There is simply no way they’ll decide to scrap it just like that.
For that to happen we’ll have to see a lot of backlash (and the ESMA members to hear/feel it).
Since there has not been any organized outcry (well-structured, fact backed and presented to the ESMA members) from the trading community or the brokers. And why would the brokers protest? This regulation is good for the big ones - it killed off a lot of the smaller brokers (eliminated competition).
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