We had a response from a long German forex trading vet who said:
He mixes up a lot and does not mention important facts. I would never pay 4 pips spread on majors and he forgets to mention the swaps you could earn with forex. When you trade futures there are no swaps. Also trading 4 pips by a 1 lot position is not always equivalent to $40, e.g. AUD/JPY, USD/NOK, AUD/NZD, etc. It would only work with USD in the denominator. Forex spot markets do not expire while futures do. Some futures are very illiquid.
But generally said, futures are a bit cheaper and trading them on official exchanges is always better than trading forex on retail bucket shops.
I have made a video on the latest status. I have been kicked off Mailchimp due to them having zero tolerance of any form of mention of cryptocurrency. Go figure considering I was a customer a few years before I moved over to Infusionsoft. I will be moving everyone off Infusionsoft in coming days. As a result, I have made a video on this below for the latest update. Thanks Bryan
The big tech overlords have spoken! I have posted this on my private forum for my customers:
the new service has restricted my account since I mentiond Bitcoin. appararently that goes against their policy of support businesses that focuses on this. 03:12:19 admin: i should be able to get my account re-instated but this is why this private chat server was created. as a result, all mentioned of crypto will no longer be posted on my social media or website. this means I will be able to talk about it frealy here as i trade it 03:12:45 admin: i am also trying to see if the mention of forex has the same implications.
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Please read about this policy on this daily newsletter below.
I have just did a crypto move with some CFDs showing upward momentum. In fact, ZCash is up over 20% which we caught a few days. So ask yourself why you want to miss out on these?
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As a result, the contacts on this newsletter will be purged in coming days.
A New draconian law that might affect European based forex traders. I got this query from someone in Greece about Oanda Europe:
1)yes the rules for third party software in europe are different than usa… trading view with oanda europe dont execute live orders only study …..(.and maybe motive wave the same)….i have live account onda europe and live account motive wave free trial i try to execute orders and my screen have this message “the providing request was forbidden” ….if i buy licence for motive wave will work the connection and the orders?your opinion?
From Oanda Europe
From MotiveWave support
This is correct, Europe introduced a law that won’t allow trade executions on platforms that aren’t located in Europe (we are located in Canada). You can still use MotiveWave with your account for data and charting but you won’t be able to place trades through MotiveWave.
Does this mean that the trading platform must have an IP based in Europe ? or is it not recognized because the software is NOT made or NOT recognized in Europe? Is this problems only on OANDA the forex broker or all European brokers? Or all Metatrader supported FX European Brokers?
This should be the case for all European Forex brokers.
I believe it’s related to MIFID II compliance. There is no workaround at the moment. I believe the third parties need to be registered in the EU in order to be allowed to provide clients with trading capabilities.
At the moment, we are only registered in Canada.
If it’s just a demo account, then have them register it in Canada and the i.p location shouldn’t matter but if it’s a EU registered account. It’s going to be an issue.
We were not the only ones affected as other third party vendors had same issues.
My current suggestion is something like:
I would go with one based in Uk like LMAX or TrueTrade. In my opinion, this is really kills off forex trading worldwide