Potential mass exodus from Spreadbetters.

This is a discussion on Potential mass exodus from Spreadbetters. within the First Steps forums, part of the Reception category; Originally Posted by Sonicscooter ........this is going to go one of three ways, 1 to trade CFD's and spread bet ...

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Old Jan 20, 2018, 2:57pm   #49
Joined Feb 2002
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Originally Posted by Sonicscooter View Post
........this is going to go one of three ways, 1 to trade CFD's and spread bet you will need to have £442,000 in liquid assets, or 2, margins will go up vastly and markets traded will reduce especially for new accounts, 3, we are all extinct.

Regards Shane.

Hi Shane -

This initiative is all about derivatives so isn't there a 4th option, move to DMA? Or is that not viable?

Tom
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Old Jan 20, 2018, 3:10pm   #50
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Hi Shane -

This initiative is all about derivatives so isn't there a 4th option, move to DMA? Or is that not viable?

Tom

Suppose so, not something i've looked at, at any length, was always happy with where i was, have you looked at ETF's as IG cover those.
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Old Jan 20, 2018, 3:14pm   #51
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Originally Posted by Sonicscooter View Post
Suppose so, not something i've looked at, at any length, was always happy with where i was, have you looked at ETF's as IG cover those.

Well I'd been hoping for a time now that I would be turning over such an amount of SB trades that it would become financially worthwhile to shift to DMA. Just that I hadn't planned to do it yet and have never even approached a DMA broker for T&C etc.

I don't think a 6-figure deposit is required - anyone know more about this?
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Old Jan 20, 2018, 3:38pm   #52
Joined Jul 2004
Looking at the glass half full (not whiskey)

a negative balance protection would be the only positive thing about this changes
you cant get that with real futures
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Old Jan 20, 2018, 4:38pm   #53
Joined Jan 2014
This article seems somewhat balanced...

https://www.professionaladviser.com/...er-fca-warning
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Old Jan 22, 2018, 1:04am   #54
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Have Your Say Now Before it's to late!!!

If you are reading this thread and want your say in the consultation then do this...

1. Answer the ESMA's call for evidence on their Responce Form found on this page.

https://www.esma.europa.eu/press-new...m_consultation

2. On the drop down tab enter "Individuals"

3. Under ‘Institution’ type ‘N/A’

4. Attach (upload) a brief or detailed complaint about the proposed margin changes. Using Microsoft Word or Excel.
(or any over pdf txt doc docx xls xlsx ppt pptx pps ppsx odt ods od format)

That's it your done. Have your say in under 5 mins.
You have until the end of the day Paris time on Sunday 4th February.

Last edited by Jason101; Jan 22, 2018 at 1:13am.
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Old Jan 24, 2018, 11:36am   #55
 
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From the Telegraph today:

'EU crackdown on 'crazy' amateur trading has gone too far, IG Group warns'

http://www.telegraph.co.uk/business/...g-group-warns/
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Old Jan 24, 2018, 12:28pm   #56
Joined Feb 2009
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Originally Posted by cbrads View Post
From the Telegraph today:

'EU crackdown on 'crazy' amateur trading has gone too far, IG Group warns'

http://www.telegraph.co.uk/business/...g-group-warns/
Thanks for sharing. Unfortunately, we're not going to get much sympathy from the "enraged wealthy client base", or readers of the article.

Off-topic, but trust the Telegraph to blame the EU. Brexiteers will lap that up! I understood that the FCA would have already made the changes if it wasn't for the ESMA, but happy to be corrected...
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