Some of the largest regulated forex brokerages in the world – FXCM, IG Group, Gain Capital, CMC Markets, Plus500 - have expressed their general support for the intentions of the European Securities and Markets Authority (ESMA) to impose new restrictions on the industry in order to better protect retail clients, but also voiced their concerns.
Recently ESMA issued an interim update, in which it outlined its intentions to cap the leverage on forex and CFDs to anything between 1:5 and 1:30, depending on the volatility of the underlying product. Additionally, ESMA is planning a blanket ban on the distribution and marketing of binary options products across the EU. Furthermore, ESMA is also planning to introduce a close-out margin rule, negative balance protection, a restriction on trading incentives, i.e. trading bonuses and a standardized risk warning. ESMA said it will hold a public consultation in January 2018.
Would be great for novice traders but I can't imagine my trading without high leverage