Has the Europe ban forex trading platforms on third party software like MotiveWave. When you look at the link below, we have this comment:
UPDATE 30 Mar:
OANDA: only allows a connection ‘for analysis purposes’. It is impossible to open/manage/close OANDA-trades when using MW if you’re located in the EU. I called them and asked why. The reason they offered me was that ‘EU regulations no longer allow brokers making use of third party apps/programs’
Interactive Brokers: looked around their site and it seems they only allow connections through TWS (“Trader’s Workstation”) That seems fine, but they only offer TWS for professional account holders:
(from their site: )
I am not sure if that means you cannot use TWS if you’re an IBKR lite client or a client with a different broker, that in his turn is client with IB. I tried contacting them: no chat, no email and after 20 minutes of ‘please hold for an available customer representative’ I hung up my phone.
MeinTrade: I mailed them (in english, a language they do not seem to speak, judging by their site) and am awaiting an answer
FXCM: I looked a little closer, and discovered they also have offices in the EU (Paris, France and another one in Cyprus). So I wonder why they block Forex-traders that are based there
I got in contact with them over chat and this is what they told me:
“please be advised that due to changes in regulation by our regulator we are no longer accepting residents of your country to trade with us. I would like to apologize for the inconvenience caused, due to Brexit many of our clients were moved to our EU entity however the regulator has advised that FXCM cannot allow residents of your country to trade with us.”
Can anyone seeing this in Europe confirm this is the case? I would imagine this has a huge affect on peoples trading via an API or platform.
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