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

#21
Jimmy wrote:
Tue Dec 08, 2020 8:10 pm
Zyzel wrote:
Tue Dec 08, 2020 5:25 pm
Greetings Esteemed Forum Members
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


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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