Escaping the ESMA ruling

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Old Jun 4, 2018, 6:00pm   #1
 
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Escaping the ESMA ruling

Has anyone found a broker who will not be subject to the new ESMA rules on leverage, will accept customers form the UK and allows spread bets (instead of just CFDs) on indices? I've investigated and contacted loads of brokers but none fit the criteria.
Thanks in advance.
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Old Jun 21, 2018, 8:32pm   #2
 
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Same position as you. Any luck?
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Old Jul 3, 2018, 11:16am   #3
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I honestly don't think you'll find any spread betting outside of the UK.

The closest you'll get are non-EU brokers offering CFDs with high leverage, and of course any profits will be taxable.

One option is to move to non-EU CFDs, build up a large bank and then move back to spread betting once the tax becomes too unpleasant!

Last edited by jm1054; Jul 3, 2018 at 11:17am. Reason: rogue hyphen
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Old Jul 3, 2018, 2:54pm   #4
 
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Get yourself classed as a professional client. Rules don't apply then. Talk to your broker to see what the qualification criteria are.
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Old Jul 3, 2018, 5:40pm   #5
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Get yourself classed as a professional client. Rules don't apply then. Talk to your broker to see what the qualification criteria are.

Not a realistic option for me - my SB firm would want to see a 500k financial instruments portfolio. Jeez, if I had 500k in financial instruments I wouldn't waste my time spreadbetting.
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Old Jul 27, 2018, 7:05pm   #6
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Surely the leverage allowance is fine anyway?
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Old Jul 27, 2018, 9:05pm   #7
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Anyone trade CFDs with any of IG's branches outside of the ESMA's jurisdiction who is willing to share their experience?

They have prepared a webpage to compare their offerings.

Thanks
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Old Jul 27, 2018, 9:41pm   #8
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sunseeker has already offered good advice elsewhere on t2win...
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Old Jul 28, 2018, 12:09am   #9
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sunseeker has already offered good advice elsewhere on t2win...
Thank you for taking the time to post those links NVP, very kind of you and much appreciated. I will take a look at them in due course.
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Old Jul 28, 2018, 12:22am   #10
 
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Originally Posted by goodtyneguy View Post
Thank you for taking the time to post those links NVP, very kind of you and much appreciated. I will take a look at them in due course.
Those links are NVP's signature links to his fx correlator, Still worthy to check them out but i believe this is the thread Neil was referring to...

http://www.trade2win.com/boards/firs...utside-eu.html
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Old Jul 28, 2018, 5:21pm   #11
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I use JAFX and they are unchanged by ESMA.
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Old Jul 29, 2018, 8:24am   #12
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What about spread betting companies for LSE shares? Doesn't Canada allow spread betting? Ideas.
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Old Jul 29, 2018, 9:30am   #13
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Like most retail SB punters, when I heard about ESMA I thought about getting around these "stupid" EU rules.
I have been SB trading for many years, but my account has never gone up consistently. It shoots up then it shoots back down again. Why!! Because I am not as good as I think I am. I am a natural counter trend trader, which can hurt. I can over trade. I can be confident that the market is wrong, until the pain gets too much. Stops are for wimps.
So having re-evaluated myself, I welcome ESMA. It is going to force me to apply discipline and sensible position size to my trades. Hopefully it will allow me to grow the account slowly but in a measured way because high leverage has certainly not helped. Time will tell.
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Old Jul 29, 2018, 10:39am   #14
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Originally Posted by mike. View Post
Those links are NVP's signature links to his fx correlator, Still worthy to check them out but i believe this is the thread Neil was referring to...

http://www.trade2win.com/boards/firs...utside-eu.html
yep not MY links ...go find sunseeker here at T2win
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Old Jul 31, 2018, 3:25pm   #15
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Originally Posted by ForexinDevon View Post
I use JAFX and they are unchanged by ESMA.
You are either non-eu citizen, or in case of no announcements about leverage cuts your broker is an unregulated scam
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