Re: Australia’s 1:30 leverage: ASIC Announces Leverage Cap, Negative Balance Protection

21
Jimmy wrote: Tue Dec 08, 2020 8:10 pm

Post merged with existing thread :)
Thanks Jimmy! And sorry for any inconvenience caused. Always appreciate your hard work in this forum :).

Out of curiosity, does it impact you in any way (i.e switch brokers) or are you not affected since you've been trading with FCA/CYSEC? :)

Would love your opinion as fellow trader too. Thanks!

-Zyzel


QuestionRe: Australia’s 1:30 leverage: ASIC Announces Leverage Cap, Negative Balance Protection

23
camisa wrote: Wed Jan 20, 2021 8:25 pm IC Markets is offering IC Markets Sychelles to maintain 500:1 margin...
thx 4 update but huh........... how can??? are they are offshore broker & not australian :think: :think: :think:
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Re: Australia’s 1:30 leverage: ASIC Announces Leverage Cap, Negative Balance Protection

24
Well, the first step was, that Australia had changed the law quite a while ago, not allowing foreigners to open accounts in Australia. I guess the EU saw many accounts drifting in that direction.
Being pressured, they are just pleasing the EU again. The EU argued that this was for protection of the traders who would not understand the risks involved. I know, we are just a bunch of idiots after all.
The reality is, the only thing they have achieved with that is pushing traders into offshore accounts. So much about protection.
I myself couldn't care less. I keep as little money as necessary with the brokers. And as I have earned those funds over and over again, I'm not having any sleepless nights.




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