Turkey restricts retail leveraged forex trading to $13,500 deposit, cuts leverage to max 10:1

[mlawson71]

The Capital Markets Board (CMB) of Turkey announced it has made regulatory amendments to the financial and ancillary service regulation, with which it restricts retail leveraged trading to investors with a deposit of at least TRY 50,000 (about $13,500), or the equivalent in a foreign currency. In addition, the regulator has lowered the maximum margin rate available for retail forex traders to 10:1 from 100:1.

The CMB has given market participants a transition period of 45 days, in which to implement the new regulatory rules and to make sure open positions confirm with the new laws. The regulator, however, redeemed its right to change leverage on an asset basis when deemed necessary.

 

[Tim Smith]

Good. The rest of the world should follow-suit.

Nobody needs stupid levels of leverage. All it does in encourage over-trading and over-leverage and a faster way for the 99% to kill of their accounts quicker.

 

[mlawson71]

What about that minimum deposit amount though?

 

[wintergasp]

What about that minimum deposit amount though?

If you don't have 15k$ to trade don't trade

 

[southall]

This is good for newbie traders.

But just more restrictive regulation for people who know what they are doing.

 

[prc117f]

only 10 to 1 leverage! How are people supposed to make money with such a measly leverage?

 

[Tim Smith]

only 10 to 1 leverage! How are people supposed to make money with such a measly leverage?

Because it encourages the correct behavior. It encourages you to make quality trades and do so on a consistent basis.

 

[stevegee58]

Good. The rest of the world should follow-suit.

Nobody needs stupid levels of leverage. All it does in encourage over-trading and over-leverage and a faster way for the 99% to kill of their accounts quicker.

But how will I make money if there isn't anyone out there giving it to me?

 

[Pippi436]

Good. The rest of the world should follow-suit.

Nobody needs stupid levels of leverage. All it does in encourage over-trading and over-leverage and a faster way for the 99% to kill of their accounts quicker.

Then you should quadruple 6E futures margin to $12,5K per contract and dont offer any intraday margin either. Then you are at 10:1 or thereabouts. But apprarently its ok if they ruin themselfs with futures. Some futures brokers are offering daytrade margin of 250x and more, somehow noone complains about that.

 

[JackRab]

Some futures brokers are offering daytrade margin of 250x and more, somehow noone complains about that.

No client will ever complain about too high leverage, because they want that. And sophisticated traders don't need those high leverages and trade with more reputable brokers who don't have to offer high leverage to draw in clients.

So, who was complaining about FX, probably national regulators... because FX is largely UN-regulated and therefore ideal for scams. That means, the only way they can regulate, by forcing brokers to change requirements, they can stop scammers to prey on the uneducated/non-sophisticated/ill-informed/$500-account idiots...

Which futures brokers offer 250x leverage? Names?