Escaping the ESMA ruling

[Thirty9]

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.

 

[P2vulco]

Same position as you. Any luck?

 

[jm1054]

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!

 

[Hoggums]

Get yourself classed as a professional client. Rules don't apply then. Talk to your broker to see what the qualification criteria are.

 

[tomorton]

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.

 

[ForexinDevon]

Surely the leverage allowance is fine anyway?

 

[goodtyneguy]

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

 

[NVP]

sunseeker has already offered good advice elsewhere on t2win...

 

[goodtyneguy]

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.

 

[mike.]

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/first-steps/231182-esma-trading-outside-eu.html

 

[ForexinDevon]

I use JAFX and they are unchanged by ESMA.

 

[mrfixituk]

What about spread betting companies for LSE shares? Doesn't Canada allow spread betting? Ideas.

 

[gmca686]

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.

 

[NVP]

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/first-steps/231182-esma-trading-outside-eu.html

yep not MY links ...go find sunseeker here at T2win

 

[hatemypips]

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

 

[SUNSEEKER]

I have written quite extensively on ESMA on my blog: www.tradertom.com in case you are interested in hearing from an inside man

 

[SUNSEEKER]

I have just done an updated survey on behalf of my trading group. I get frustrated with our regulators, when I sense that reason is disregarded. I have found in my group that only 15% have been accepted as pro clients. I also found that 85% in my group were looking for a broker outside the EU.

ESMA is litterally driving our trading friends into the arms of brokers where they have little protection, or none at all.

IG made such a great effort through their REPLYTOESMA, and thousands of people replied. I simply do not understand the justification for ignoring such a sizeable datasample.

 

[barjon]

I have just done an updated survey on behalf of my trading group. I get frustrated with our regulators, when I sense that reason is disregarded. I have found in my group that only 15% have been accepted as pro clients. I also found that 85% in my group were looking for a broker outside the EU.

ESMA is litterally driving our trading friends into the arms of brokers where they have little protection, or none at all.

IG made such a great effort through their REPLYTOESMA, and thousands of people replied. I simply do not understand the justification for ignoring such a sizeable datasample.

Yes, the “consultation” was a total farce.

 

[tomorton]

Yes, the “consultation” was a total farce.

Depends on the objective. The regulator would not have been trying to discover if they were right or wrong, they had already decided this (though I think didn't they amend the margin stop-out stipulation based on feedback?).

 

[rawrschach]

The whole thing is about tax. Anyway, lots of UK spreadbetting cos offer CFDs as well if regulation is what you're worried about. I know ETX, IG do.