Potential mass exodus from Spreadbetters.

maik79

Junior member
10 0
I think the Forex Brokers have been asleep here. Just when i have developed a system that works they raise the leverage. I need 30k now to just make a living. Bye Bye Euro brokers, maybe you should've done more. P.S. I only trade EURUSD and safety was always my concern number one.
 

tomorton

Legendary member
7,312 976
I think the Forex Brokers have been asleep here. Just when i have developed a system that works they raise the leverage. I need 30k now to just make a living. Bye Bye Euro brokers, maybe you should've done more. P.S. I only trade EURUSD and safety was always my concern number one.

With all due respect maik, to ONLY need £30k to make a living is pretty good performance. Average worker earnings in the UK are abut £24k I think, so if you only made this, that is an 80% return on your capital, wgich will be growing I would think. What's the problem here?
 

maik79

Junior member
10 0
With all due respect maik, to ONLY need £30k to make a living is pretty good performance. Average worker earnings in the UK are abut £24k I think, so if you only made this, that is an 80% return on your capital, wgich will be growing I would think. What's the problem here?
I have only 10k in cash available and I hate my normal job and can't find something else. So it's basically an emergency calculation with the lowest minimum. It's actually 46.2k for 12.5k after taxes. Have to be patient now. and keep the sh1t job a bit more. I can do it.
 
Last edited:

brewski1984

Senior member
2,025 343
I have only 10k in cash available and I hate my normal job and can't find something else.
There's always something else. Praying to make a living trading with only 10k capital will not get you out of a job you hate
 

tomorton

Legendary member
7,312 976
A month on from the new ESMA rules and has anybody seen their trading go into the red? Anyone had to give up whatever they were doing?
 

NVP

Legendary member
36,737 1,871
A month on from the new ESMA rules and has anybody seen their trading go into the red? Anyone had to give up whatever they were doing?
i’m still deciding how much more i can be arsed to put in my accounts ....i must confess i have always enjoyed scalping because it allows me to generate pretty good returns for minimal capital with brokers ....i have been burnt before from brokers going broke over the last 20+ years

the esma ruling is nanny state intervention to protect idiots who will,still find ways to,lose,their money anyway ....in fact it has opened up a new black market of offshore brokers who will now get the business more trustworthy brokers were getting .....jeees....

watch this space

N
 

NVP

Legendary member
36,737 1,871
I have only 10k in cash available and I hate my normal job and can't find something else. So it's basically an emergency calculation with the lowest minimum. It's actually 46.2k for 12.5k after taxes. Have to be patient now. and keep the sh1t job a bit more. I can do it.
don’t ever believe you will make enough trading to become independent .....always have multiple income streams including a job......you will place too much pressure in your trading otherwise and it will affect your mindset

N
 
  • Like
Reactions: jm1054 and IceMan

jm1054

Junior member
42 12
A month on from the new ESMA rules and has anybody seen their trading go into the red? Anyone had to give up whatever they were doing?
I moved broker to keep my leverage, but hardly traded in August anyway.

Can't see myself going back to UK spread-better, unless the regulations spread to sunnier climes...

How about you? Did you decide what to do in the end?
 

jm1054

Junior member
42 12
don’t ever believe you will make enough trading to become independent .....always have multiple income streams including a job......you will place too much pressure in your trading otherwise and it will affect your mindset

N
Spot on! Not having to make money trading changes things completely!
 

tomorton

Legendary member
7,312 976
I moved broker to keep my leverage, but hardly traded in August anyway.

Can't see myself going back to UK spread-better, unless the regulations spread to sunnier climes...

How about you? Did you decide what to do in the end?

I had increased my account capital to the biggest its ever been before I heard of the ESMA leverage rules so was hoping I would just carry on as before. So far this has been correct.
 

Jason101

Experienced member
1,366 214
I have just noticed that IG have dropped there min trade size on most major fx from £1 to 50p per point.
I think this is since and in relation to the new regulations. They have also increased the knock out trades to cover some minor fx as well as the majors.
 
  • Like
Reactions: f2calv

tomorton

Legendary member
7,312 976
I have just noticed that IG have dropped there min trade size on most major fx from £1 to 50p per point.
I think this is since and in relation to the new regulations. They have also increased the knock out trades to cover some minor fx as well as the majors.

Yes, this is an aggressive move to retain market share/new customers. LCG have gone down to 10p stakes on their major markets.
 

AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock