Re: Forex Broker Recommendation please

#72
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.

Re: Forex Broker Recommendation please

#74
Kingsley wrote:
Tue Aug 18, 2020 5:00 pm
I've been practicing demo for 3 months, can anyone recommend me a reliable broker to trade live with low spreads? (Preferably ECN regulated brokers)
Since you've decided to move to live after 3 months of demo, i am assuming you have good results from demo. But before going live there are certain things you should keep in mind, don't think live and demo are the same. Don't go all in, in a single go. As for brokers, start small so better try brokers with minimum amount required to open account like if you are in EU, then you can try Fxview, Plus500, Fxpro.

Re: Forex Broker Recommendation please

#75
Depending on what are you looking for. For me, I like to diversify my funds into various brokers. So these are my current broker that I would recommend.
1. Turnkey Forex for their low commission and competitive spreads[/list]
2. Fxchoice for offering various deposit methods
3. LMFX for their low commission


Re: Forex Broker Recommendation please

#76
imontheroad wrote:
Fri Sep 04, 2020 9:34 pm
Depending on what are you looking for. For me, I like to diversify my funds into various brokers. So these are my current broker that I would recommend.
1. Turnkey Forex for their low commission and competitive spreads[/list]
2. Fxchoice for offering various deposit methods
3. LMFX for their low commission
Interesting! What makes you want to diversify into three different brokers? You don't mind that your money is in all different places, and not just one "house"? :think:
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Re: Forex Broker Recommendation please

#77
ChuChu Rocket wrote:
Fri Sep 04, 2020 9:58 pm
imontheroad wrote:
Fri Sep 04, 2020 9:34 pm
Depending on what are you looking for. For me, I like to diversify my funds into various brokers. So these are my current broker that I would recommend.
1. Turnkey Forex for their low commission and competitive spreads[/list]
2. Fxchoice for offering various deposit methods
3. LMFX for their low commission
Interesting! What makes you want to diversify into three different brokers? You don't mind that your money is in all different places, and not just one "house"? :think:
Well, our views are different. There are two reasons behind diversifying brokers
1. It's too easy to lose all when one got shot down. We can't keep all eggs (funds) into one house, can we?
2. Some brokers get wild spread, while others not. So I trade in where the spreads are minimal in the specific hour.

Re: Forex Broker Recommendation please

#79
Kingsley wrote:
Tue Aug 18, 2020 5:00 pm
I've been practicing demo for 3 months, can anyone recommend me a reliable broker to trade live with low spreads? (Preferably ECN regulated brokers)
You can check fxview, they are cysec regulated and spreads are really tight plus commission charges are also lowe only $2/lot rt.

Re: Forex Broker Recommendation please

#80
Personally, I am a bit wary of CySEC. Sure, they're an EU regulator, but at the same time there have been some pretty notable issues with brokers regulated by them. First it was the IronFX business, now 24Option turns out to have been misbehaving for years before they finally got fined. I'd still choose a broker regulated there than one registered in a tropical island somewhere, but still, better be careful


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