RE: CHARTS -T LINE TIPS5 Feb 2018 08:33
Good morning all
re ESMA
Here is link to lobby them.
deadline is 10 p.m. today. don't procrastinate DO IT NOW as my late brother used to say
5 February deadline to comment on tenfold margin increases for retail clients
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ESMA deadline approaching: Have your say by 5 February
#ReplytoESMA now
Dear Mr. Rebello
If you haven't yet replied to ESMA’s proposals on leveraged trading, now's your last chance to have your say. As a reminder, ESMA has suggested significantly increasing margin rates – to 5% on indices and 20% on equities – and forcing brokers to apply close-out rules on a position-by-position basis rather than at account level. These proposals would severely affect retail clients who trade CFD or spread betting products.
The response so far from traders across Europe has been phenomenal. Over 10,000 comments have been posted to the ReplytoESMA.trading site, with an incredible 98% expressing opposition to these extreme ESMA proposals.
We would like to express our gratitude that Europe’s retail trading community has come together, and given such an unequivocal response to these disproportionate proposals. We sincerely hope that ESMA listen to the views that have been so clearly expressed. We support the objective of regulators to improve retail client outcomes in the industry. But we believe the leverage proposals go far beyond what is necessary, and that margin close-out by position is both complex and inefficient – and could lead to increased trading costs for our valued clients. We do not see how it is sensible to force-close a client when one position loses more than 50% of the allocated margin, when their overall account could be in profit.
Reply to ESMA now
If you have not submitted your comment at ReplytoESMA.trading, you have until 10pm (UK time) on Monday 5 February to have your voice heard. Any replies posted by the deadline will be forwarded directly, and unedited, to ESMA. You can also use this site to read comments from other retail traders across Europe.
#ReplytoESMA now
Please note that your comments may be published anonymously on the website.
More information
It’s important to remember that your account will not be affected unless, and until, ESMA’s proposals become rules. We will let you know well in advance of any changes to your account.
If you’d like to speak to someone about this in more detail, our highly trained client support team will be happy to assist you on 0800 409 6789 or at helpdesk.uk@ig.com. They’re available 24 hours a day from 8am Saturday to 10pm Friday.
Thank you in advance for sharing your views. With your help, we can ensure the industry is fair to all.
Kind regards
IG
T 0800 409 6789
E helpdesk.uk@ig.com
IG.com
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