NCM Conservative (de icmfund)
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Discusión NCM Conservative
Miembro desde Sep 25, 2020
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Nov 26, 2020 at 13:41
Miembro desde Oct 02, 2018
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As you may already be aware, ICMarkets will be restricting leverage for all Australian clients after March 29 2021. For non-major pairs this restriction will be reduced to 1:20 which will be incompatible with your strategy. I assume that you possibly have a fair few Australian clients on your books that will have to abandon this strategy after the cut-off date. What is your strategy for them? Will you be able to reduce lot sizes in a separate account? Or will you be able to relax the rule about having to use ICMarkets for those that wish to find another broker offshore that will support 1:500 leverage?
Beat the forex brokers to their own game
Dec 01, 2020 at 21:02
Miembro desde Sep 02, 2019
posts 11
GBP/CAD is still a major pair under the ASIC rules, so new leverage will be 1:30. Whilst that is a lot more margin than now, the strategy will continue to work.
Even at 200% risk of the master account, margin required will only be 20%. That allows for a 90% drawdown before ICM will close out the position (ASIC requires positions to close at 50% of required margin). (Calculated on my own account which is currently running at 200%).
ICM also allow applications for a pro account, if you are eligible.
https://www.icmarkets.com/blog/asic-product-intervention/
Even at 200% risk of the master account, margin required will only be 20%. That allows for a 90% drawdown before ICM will close out the position (ASIC requires positions to close at 50% of required margin). (Calculated on my own account which is currently running at 200%).
ICM also allow applications for a pro account, if you are eligible.
https://www.icmarkets.com/blog/asic-product-intervention/
Dec 02, 2020 at 07:44
Miembro desde Sep 02, 2019
posts 11
As per the ASIC press release:
In ASIC’s product intervention order:
major currency pair means any two of the Australian dollar, British pound, Canadian dollar, euro, Japanese yen, Swiss franc and US dollar;
So GBPCAD will be 1:30 if ICM implement accordingly.
In ASIC’s product intervention order:
major currency pair means any two of the Australian dollar, British pound, Canadian dollar, euro, Japanese yen, Swiss franc and US dollar;
So GBPCAD will be 1:30 if ICM implement accordingly.
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