The future of CFDs (SB)?

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Viewing 15 posts - 16 through 30 (of 61 total)
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  • 01/22/2018 at 11:09 PM #60231
    GraHal

    Anybody any idea what below means re conditions for a Professionsl Trader?

    The determining factors of what constitutes ‘best execution’ may vary, as we are not required to prioritise the overall price and cost of a transaction for professional clients

    It sounds like you get a worse execution as a Professional Trader, but surely that can’t be so!?

    GraHal

    01/22/2018 at 11:12 PM #60232
    Vonasi

    I think it just means that just because you are professional does  not mean that you will get any preferential treatment regarding best execution. Lawyer speak in other words.

    1 user thanked author for this post.
    avatar GraHal
    01/24/2018 at 1:12 AM #60356
    barbagio

    Hi all, I’m in the same situation trying to understand better the effects of this change.

    I read also a worse news about the ESMA regulation: for not professional traders the use of pro order would be forbidden…so bye bye algo trading for small traders. I’m quite upset and worry with this: a strong limitation for me and I suppose for you all in this forum.

    trying to figure out a solution, I thought about Switzerland. It is not forbidden to open an account in Switzerland with IG and the country shouldn’t be under ESMA regulation. But this is only a supposition. Does anybody have more info?

    01/24/2018 at 8:31 AM #60363
    jebus89

    WHAT? We cant even use automatic trading?? Lol! Fuck me then!! I need to call some investors and banks and scrap together 1 mill so i can continue 😀 I got this mail from IG about 24 h ago! let me know if there’s something that you dont understand cus norwegian.

    Valutakryss = forex
    Indekser = indicies
    Råvarer = commodities

    Aksjer = stocks

    Edit2: Im pretty sure this is for EVERY COUNTRY in europe. 98% sure tho. What im wondering is if lets say IG moves its company outside of europe, will we still be able to use IG/CFD then? im gonna guess no..

    01/24/2018 at 8:38 AM #60365
    verdi55

    Who said this nonsense that you cannot use automated trading ? Stay calm. In the official ESMA announcement, I read nothing like this. Has anyone read it at all ?

    01/24/2018 at 9:17 AM #60367
    barbagio

    About the use of automatic trading, I read something for pro order related to guaranteed stop loss: many countries are imposing to set guaranteed stop loss (and in any case this means an additional cost) when a ppsition is open. And since pro order does not allow to manage these stops….

    01/24/2018 at 9:19 AM #60368
    verdi55

    In France and Germany, ProOrder for inexperienced retail clients already allows only guaranteed stops. So far, so good.

    01/24/2018 at 9:27 AM #60370
    verdi55

    I heard from IG and from PRT customer service some months ago that they plan to introduce ProOrder commands to handle guaranteed stops freely, but they could not tell me when this will happen.

    This would be not bad at all to have free choice between normal and guaranteed stops, for example for week-end positions.

    01/24/2018 at 10:14 AM #60372
    jebus89

    ive missed the guaranteed stop loss, and thats one of the reasons i dont like the forex market.. even if its only a 1% of it happening, that 1% might be enough to empty my account.. So guaranteed stop loss would be very welcomed by me

    01/24/2018 at 10:25 AM #60373
    barbagio

    Good to know. And in case ESMA will confirm the new rules, what about Switzerland to open a trading account? It should be out of european regulation. Does anybody have info?

    01/24/2018 at 1:03 PM #60386
    verdi55

    I know that it is not possible to open a UK account with IG when they have an office in your country. Unless you have a residence in UK, of course.

    01/24/2018 at 2:57 PM #60407
    barbagio

    Hi, for in swiss page of IG I found this:

    • We can open a Swiss CFD trading account for people from most countries, but it may be more convenient for you to trade with an office closer to home.

    so it seems it is possible to open a swiss account, although you’re from Germany, Italy, etc… but you’re right, looking in UK page as well as in italian one, apparently there’s no way to open an account if you don’t live in the country.

    1 user thanked author for this post.
    avatar verdi55
    01/24/2018 at 3:04 PM #60408
    verdi55

    OK, so let’s go offshore to Geneva, in case the ESMA remains stubborn. Nice place with a lake. Australia or Singapore are other alternatives…

    01/24/2018 at 3:42 PM #60413
    Vonasi
    verdi55 wrote:

    OK, so let’s go offshore to Geneva, in case the ESMA remains stubborn. Nice place with a lake. Australia or Singapore are other alternatives…

    ….and the Swiss are supposedly more efficient so maybe opening an account will be much less stressful than my recent experiences with IG UK!

    01/24/2018 at 11:28 PM #60457
    Eric

    And what about this..?

    ”

    Information about ESMA’s margin close-out proposal
    In addition to the leverage restrictions detailed in our previous email, ESMA is suggesting a 50% margin close-out rule on a position-by-position basis. This is a drastic change to the current system where we look at positions together at ‘account level’, and means traders will be in danger of having positions closed out early – even if their overall strategy is in profit.

    So if any single position runs a loss to half the initial margin, that position will have to be closed. For example if the initial margin to open a Germany 30 trade was €2000, that position would have to be closed by IG when there was a loss of €1000 (50% of €2000), irrespective of profits on other positions. IG feels this is not sensible.

     

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