Agreed - you can't open a trade in the first place if you haven't got the margin in your trading account. What you have in the bank or earn is irrelevant. Also, trades are closed when you haven't got enough margin in your trading account anyway so and again, what you have in the bank or earn...
I heard this might happen some time ago. It was said this is just the first step. Step 2 is raising the level again so you'll need £25k in the bank to get a trading account. Maybe somebody will set up a peer to peer system so poor people like me can still trade outside the regulations. Maybe...
I applied for an IG account and it was also turned down due to my small income and/or savings. They wouldn't say which or how much I would need. But even worse than that, I've been spread betting with ADSS for years and just got an email saying this:
Thank you for trading with ADSS, given...
No, I'm not a paying subscriber, I use the free service which is delayed by about 30 seconds.
.....stop press.......
I just had a reply from them:
The retail servers are down for repairs at the moment. We do have a pro version available if you would like.
Thanks
Anthony
Speaking of calendars, the T2W one is not what it used to be either. It claims to be updated in real time (and it used to be) but now it sometimes isn't updated at all e.g. yesterday. The time zone has changed and I can't set it back to GMT. Daily view no longer works.
DTI trader
Thanks for posting that info. I was very close to signing up so I sent the posts to DTI to get their response. I assumed the server problems have been sorted by now as the post is a few years old now. I've read lots of books that teach money management so that doesn't bother me. I...