Cutting access to higher leverage levels off for everyone in a market by legislating it into law, however well intention... seems like a bit of a dick move ASIC.
#forex#fx $eurusd $audusd #forexnews@ForexLive
Oh Boi...looks like AUS government is at it again protecting its citizens from themselves. ASIC has proposed a massive reduction in FX and CFD leverage ratios down to 20:1 and as low as 2:1 over other instruments with margin calls starting at 50 of your account. #forex#fx#asic
it will force people to use offshore providers of CFD's or FX in jurisdictions that are ....well "questionable" at best.... to gain appropriate leverage levels....perhaps some proven level of sophistication or track record is required to access higher leverage levels....
Just another example of Australian bureaucracy at its best....they are going to make it a jailing offense to use cash amount greater than 10k when making payments.....
Cash a legal tender.....fucking stupid!!!
You can see where this is going...
#auspol
You have 4 days to have your say Australia https://t.co/pJ23Ipm3dv
'Anonymous, untraceable': New cash transaction rules slated for next year https://t.co/GyeKWOjT6b @smh
@STCfxTrade Thanks mate...I have been trading but for a corporate account. Plus I really had to take a break from social media....so much rubbish and toxicity