Belgium Bans OTC Forex, CFDs and Binary Options, Including from EU Brokers
Posted: Sat Aug 13, 2016 12:37 pm
After the Belgian market watchdog grew tired of routinely issuing warnings against unauthorized firms soliciting clients in its jurisdiction, it got the local government to completely ban retail online trading in forex, binary options and CFDs. The Financial Services and Markets Authority (FSMA) has announced a Royal Decree prohibiting the distribution of the instruments starting from 18 August 2016.
The Belgian watchdog says these products are “marketed aggressively and are extremely risky, often involving transactions over a very short period and without any connection to the real economy.” By completely banning them, the FSMA will stop traders from working with FX, CFDs and binary ... (read more)