Respond to the ESMA proposals

This is a discussion on Respond to the ESMA proposals within the T2W Feedback & Announcements forums, part of the Off the Grid category; Originally Posted by tomorton Well done to the 98%. Has anyone else seen the suggestion to LCG SB clients that ...

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Old Feb 8, 2018, 6:18pm   #9
 
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Originally Posted by tomorton View Post
Well done to the 98%.

Has anyone else seen the suggestion to LCG SB clients that they can apply for professional account status?
What's the criteria at LCG to be considered professional? At IG they expect you to have at least 1 year's experience in the finance industry or have 1/2 mil in readies...
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Old Feb 9, 2018, 12:32am   #10
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So far I see you need to show "necessary level of experience and knowledge to understand the risks involved in relation to any such service or transactions, or types of transaction or product."

I guess other T&C will become apparent if you contact them direct or start through the application process. Not there yet.

Wondering particularly about income tax implications, negative balance and deposit protection but other issues might be important.
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Old Feb 11, 2018, 4:37pm   #11
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Originally Posted by jm1054 View Post
The summary of results is interesting:

https://replytoesma.trading/data.html

As is IG's response to ESMA:

https://replytoesma.trading/src/asse...r_evidence.pdf
new bid, 80 on FX and 50 on indices (from the shops)

https://replytoesma.trading/src/asse...r_evidence.pdf
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Old Feb 11, 2018, 7:46pm   #12
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so i missed the deadline ?

well - I voted to stay anyway ..............

(what ?)
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Old Mar 27, 2018, 8:27am   #13
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ESMA press release confirms proposed restrictions on leverage -

https://www.esma.europa.eu/press-new...tail-investors
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Old Apr 2, 2018, 7:03am   #14
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Hmmmmm......there’s a surprise

I have had to take a step back from this one as it was making my blood boil so much.....

my personality displays an extreme resistance to authority in areas where I deem their involvement is invasive and excessive and unfair .......like this

Oh well.....on with the show......

N
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Old Apr 4, 2018, 7:28am   #15
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I will,have a chat with my preferred brokers ....

I really cannot and will not deposit significantly more money with brokers to cover margins I have never used ......and frankly the new rules do not exactly make me feel more optimistic forwards the future survival of some of the brokers concerned ....so giving them more of my hard earned money does not fill me with confidence .....guarantees don’t pay the rent in the real world ......so don’t ever be fooled by over regulation .....

I wonder if the FCA would relax these new rules after we leave Europe ?.....can we live in hope ?

N
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