0 Lawrence McOchillo Posted July 23, 2019 Author Share Posted July 23, 2019 Quote Link to comment Share on other sites More sharing options...
0 Simon Mugo Posted July 23, 2019 Share Posted July 23, 2019 IG Group Holdings Plc (LON:IGG) explained today that it believes that the Australian Securities and Investments Commission (ASIC) will soon impose limits on the leverage offered to retail forex traders in order to protect such traders from massive losses. However, IG executives played down the impact of such limits on their profits in Australia as they reassured investors that the company’s revenues and profits would not be drastically affected in case new leverage limits come into force. The European Securities and Markets Authority (ESMA) imposed strict limits on the leverage offered to retail Forex traders last year, which resulted in a major hit to IG’s revenues and profits for the financial year ended 31st May. The ESMA rules were also adopted by the UK’s Financial Conduct Authority (FCA), which is why many believe that it is only a matter of time before the ASIC follows suit with its own set of rules to protect retail Forex traders. IG Group was founded in 1974 and is one of the most trusted trading platforms in the world, which is why it continues to thrive despite numerous changes in the markets over the last 45 years. Quote Link to comment Share on other sites More sharing options...
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