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Re: Forex Broker Recommendation please
Posted: Thu May 20, 2021 8:40 pm
by mlawson71
Ogee wrote: Tue Jul 14, 2020 12:29 am
ASIC has delayed the expected implementation of the new ESMA style slashing of leverage for retail clients using CFDs due to the Covid situation but can't be far away.
Leveraged slashed from 200:1 to 20:1.
"Unlike ESMA, ASIC said that it would not distinguish between major and minor currency pairs. Instead, the watchdog proposes a single leverage ratio limit for all currency pairs 20:1.
For equity indices, ASIC suggests a ratio of 15:1, commodities excluding gold 10:1, Gold 20:1, crypto-assets 2:1, and equities 5:1. The implementation of these measures has so far been reportedly delayed as the Aussie watchdog received a high volume of responses to its consultation paper."
financemagnates.
don't expect the consultation responses to change anything, certainly didn't in the EU when the same thing happened back in the beginning of 2018.
ASIC claimed they did this because of the losses people experienced during the pandemic, but I am not buying that, This must have been in the works way before that, since ESMA did the same in Europe, and I distinctly remember that happaned before the pandemic.
Re: Forex Broker Recommendation please
Posted: Thu May 20, 2021 8:54 pm
by Ogee
yes it was, right from the start ASIC set out to introduce regulations that were even more stringent than the over-reaching ESMA did back in early 2018.
Regulator one up-man-ship, it must be a competition, but lucky they didn't go for the full CFD ban as they did in the US.
Re: Forex Broker Recommendation please
Posted: Wed Jun 09, 2021 10:33 pm
by karineturney
I'm a spammer for hankotrade. I flood sites with false recommendations and tell people that I started with a $100 Ecn account for EUR/USD and the commission structure for that was $2 per $100k, but I don't actually trade at all.
Is Hankotrade a scam? Most likely.
PS: I'm actually a spammer working for Hankotrade. Do not trade with these bums.
Re: Forex Broker Recommendation please
Posted: Wed Jun 09, 2021 10:33 pm
by ChuChu Rocket
Hankotrade? Never heard of them
Re: Forex Broker Recommendation please
Posted: Thu Jun 17, 2021 8:59 pm
by mlawson71
Turnkeyforex
don't seem to have any kind of proper regulation though. They seem to be based in the UK but don't have an FCA license.
Re: Forex Broker Recommendation please
Posted: Sat Jun 19, 2021 4:15 pm
by Hayden
Yeah! but due to regulations restrictions we are not able to trade with many good brokers, so we are left with limited choices.
Re: Forex Broker Recommendation please
Posted: Thu Sep 30, 2021 6:29 pm
by jng640
Scott.Telles wrote: Thu Sep 30, 2021 6:23 pm
I'm looking to get started Live soon, and My Trading strategy is mainly scalping.
Any recommendations for an ECN regulated broker with tight spreads? And reasonable leverage?
From my opinion ICMarkets is the best.
Blueberry Markets,Purple Trading, Pepperstone all are regulated too.
Re: Forex Broker Recommendation please
Posted: Wed Oct 06, 2021 1:32 am
by mlawson71
Why do you like them in particular?
Re: Forex Broker Recommendation please
Posted: Wed Oct 06, 2021 3:06 am
by jng640
mlawson71 wrote: Wed Oct 06, 2021 1:32 am
Why do you like them in particular?
Do you mean my suggestion?
Well, I already compared tons of Brokers for the spread, no one can beat ICMarkets actually, and I used it for quite few years already. Their withdrawal without any issue.
and the most important is the price feeds! Many brokers used poor quality of price feeds, if the price feeds inaccurate with the current market price, then your indicator & your analyse will goes wrong. I had seen a prop firm using their own server and price feed, the price can goes more than 100 pips difference! It is ridiculous!
I had compared their price feeds, all these brokers have similar quality of price feeds.
Re: Forex Broker Recommendation please
Posted: Wed Oct 06, 2021 3:23 am
by HeavLeighGill
I opened an account with CedarFX, initially because they had a low minimum deposit requirement and also because prices seemed competitive since they don’t charge commissions, withdrawals fees, or fees for inactivity. I was also happy that they support the MT4 platform. At first I was only trading pairs like EURUSD but I decided to branch off into cryptocurrencies and realized that they also had a lot to offer there. I know there are a lot of brokers out there to choose from but I’m happy so far and don’t have plans to leave because I think their costs and offers are pretty good.