Trade: Can I open an account without esma restriction in Australia(for example) even If I live in France and have the benefit of high leverage trading?
GBG: You may be better off opting to become an elective professional if appropriate?
There is some info on professional status here: https://goodmoneyguide.com/should-you-upgrade-your-cfd-or-spread-betting-account-to-professional-status/
Trader: I don’t have conditions for this. Do you know some serious brokers no esma. I’m with fxpro for the moment but I don’t want to block a lot of money on a broker account
GBG: It depends on the broker really. Smaller brokers like TradeDirect365 is based in Australia and will take UK and European clients.
However, a quick look on the Pepperstone FAQ page gives the fairly definitive answer: NO
Can my account be migrated to the Australian office (ASIC)?
No, under FCA regulations, if you reside in the EEA you can only be serviced by Pepperstone UK (Pepperstone Limited).
What if I own property outside of the EEA, can I migrate my account to the Australian office (ASIC)?
No, Pepperstone UK (Pepperstone Limited) services all EEA clients, whether national or residents of EEA countries. If you are dual-citizen of Australia and have an address in Australia, you are required to reside at that address and provide proof of that address. The same applies to any other country or jurisdiction globally.
Richard founded the Good Money Guide (previously Good Broker Guide) in 2015 and has been a broker for 20 years most recently at Investors Intelligence and previously a multi-asset derivatives broker at MF Global (Man Financial). Richard started his career working as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson) after interning on the NYMEX oil trading floor in New York and London IPE in 2001 & 2000.