Belgium bans forex and binary options trading

OK but please don't stop sending your beer to the United States....
you make the best beer I love it

Quite a peculiar decision. How is it possible to ban what amounts to basically exchanging money to another currency? Will Belgians be able to buy pounds when going to visit London?
I sure hope the rest of the EU does not follow...

Just a question to native French speakers -> my French is rusty, and Google translate is not sufficiently clear. Is this ban on advertising FX or trading FX in Belgium? If so, this article is completely misleading.
http://www.fsma.be/fr/Site/Repository/press/div/2016/08-08_banning.aspx

Good catch! Also did Google Translate and it's all about the *marketing* of products. Baloney article! Bans on incorrect articles should be in place.

WTF does "distribution of Forex...." actually mean ?

These bureaucrats know sweet FA about FA and they want to treat adults like kids ?

If they haven't seen the communique Belgium is in the EU which enshrines freedom of movement - their citizens can just cross the border and get whatever they are banned from getting at home tout suite !

Yes, I agree. Other than that, most of us Americans don't know where Belgium is.

Wait, Belgium is actually a country? I thought it was the parent company for beer manufacturers. Where is it, in like, Europe or something?

it is really a general ban of offering any platform to the general public that trades CFD or binary options

please note that the ban is not applied for CFD and binary options that are traded on a "reglemented market"

so what is this government afraid of?

ha!ha! "with no connection to the real economy"

You don't need Google Translate. Here is the announcement in English: http://www.fsma.be/en/Site/Repository/press/div/2016/08-08_banning.aspx

Thanks, I am still confused as to what "distribution" means in this context. Does it mean advertisment of FX or actual forex broker services. The article above claims that fx trading in Belgium is banned...

Looks like the headline sold it but the article failed to deliver...

That's complete nonsense. Citizens have no right???

Good Night or Day! So what does it mean actually? from aug. 2016 no forex trading in Belgium? Or what? This is very confused.

And why very risky the binary option trading? If i bet for a price direction-(for example 60 sec. option)- and i lose, i lost a fix money, every time. But same in forex or stock: if a black swan is coming i may loose 20x my full account or my life... So: What is more risky? Binary Or ForeX? If somebody lose his half capital in binary trading , he need to stop trading and go away from the business. If somebody stupid and a fortune player then he lose every business, not just forex, binary, but he lose in sport betting, poker, or horse derby too...and so on.

Really!?

Thank God. Forex is so risky..Now Belguim citizens will have no way to rick everything they own..Hummmm..Gambling seems to still be legal with little restraint. So I guess the gambling industry wanted Forex gone so people could loose more with gambling. Boy those chocolate eaters have overdosed on sugar....

It seems to me that it indeed is a ban on ALL derivatives traded over the counter.

But why lump spot fx and cfd's with binaries (which is really more akin to gambling than their drumbeaters would admit)?

Brussels is a beautiful country. ;=)

50/50 or less chance after careful analiz. minimum stoploss , is far away from from gambling odds which are 1000's+ to 1 odds, Forex is innocent !

They'll be the same ones to confiscate gold or tax it heavily in an attempt to save their Euro when it starts to melt down into the cellar.

Thanks! Wow, this is a very strange decision...

How is it more risky than gambling and casinos? gambling is allowed but trading is banned? cant the logic of these bureaucrat...sorry for belgs

What is risky? LIFE is risky...

This is unbelievable. Oh wait, it's Belgium, home of the monstrosity we call the EU. Hurry up and go broke already you left wing nanny state!

they ban binary option and cfd only apparently

Yeah, for now.

wrong : the best beer is being brewed in Austria and the Czech Republik, Germany is 3rd
kind regards
a beer-trinker

OTC and CFD are gambling but they can't ban forex because people want other currency to visit and start business or purchase something

I read the article in french and the ban doesn't apply to Forex. The title of the article is misleading, actually wrong.

Not to worry as United States is shutting down any leverage for forex trading as well to all retail traders whose asset net worth is under $10MM(which technically means closing down retail forex trading to 99.99% of all retail traders)!
Sad day in the "free" world where we are not allowed to chose how we want to gamble our own money! Instead of these governments working to improve the foreign exchange market trading environment, they are just shutting it down across the globe. Sad Sad day .

You guys don't even know how to press a FR/EN switch button on a website and believe you will make money as gamblers on risky markets. Sigh

http://www.fsma.be/en/Site/Repository/press/div/2016/08-08_banning.aspx

For our reference, it's a general trend led by the european institutions. Count the days before it will reach your neighbouring country

https://www.esma.europa.eu/sites/default/files/library/2016-1166_warning_on_cfds_binary_options_and_other_speculative_products_0.pdf

the first email is in:

axitrader closing account of belgian residents

voting with my feet

address change is out!

This really sucks cause i made money with binary options. so long pension plan :-(
What a stupid country i live in ! Well back to tennis sports betting then, that also made me money but not at the pace of binary options :-)

any hints you to change address with changing home country?
They ask a utility bill or something likely.

Do you know the companies were trading still is possible?

Too many broker shrills here.

99% of those "binary option" outfits are nothing more than scams. Good for the Belgium gov for finally banning them.

What an extraordinary admission of ignorance.

Dont worry guys..
Im sure we can all trade something as well established, as OTC Retail BO, from another highly regulated and trustworthy jurisdiction. Like Cyprus, Southern Sudan, Yemen or N Korea.

Hey, I'm insulted! Unless you live in a country like Europe or Japan or something like that, how are you supposed to know that Belgum is actually a place? Geez!

Any Belgians still trading forex online? Which broker(s)? And if so, any problems depositing/withdrawing money?

Greetings from Belgium/Antwerp

Forex trading (and binary options) is not banned in Belgian (or for Belgian traders), it's only the commercialization of these 'products' (by foreign brokers) in Belgium that's prohibited by this new Belgian law... Hope this clears things up a bit. Cheers

https://www.fsma.be/en/faq/fsma-regulation-governing-distribution-certain-derivative-financial-instruments-binary-options

[Does this Regulation mean that from now on no Belgian can 'speculate' on binary options or forex instruments?

The Regulation is addressed to the providers of such instruments, and not to the Belgian consumers. If a consumer has taken the initiative to contact a provider without any prior action taken by that provider, then no 'distribution in Belgium' is involved. A website without any references to Belgium and without any advertising or campaigns in Belgium (e.g. advertisements, banners, letters, phone contacts, etc.) thus does not fall within the scope of the Regulation.

The FSMA points out that offering binary options, CFDs and forex instruments via the Internet is very risky and can give the impression of fraud: anyone who invests in binary options, CFDs or forex instruments runs the risk of losing the entire sum invested. The chance of loss is much greater than the chance of gain: studies conducted by other European supervisors among investors show that at least 75% to 89% of the investments in derivative products, such as binary options or forex products, generate losses. These products are appropriate only for those who really wish to speculate, are prepared to lose the entire amount invested or even more and are familiar with derivative financial products. A considerable amount of fraud has also been detected with such instruments. In a number of cases, it was found that no actual transactions were ever carried out by the provider.



What happens to existing trading accounts held by Belgians who are clients of an online platform distributing its instruments in Belgium?

During the two months following the entry into force of the Regulation (in other words, until 18 October 2016), the distribution of the derivative instruments it refers to is permitted, but only in order to settle transactions that were already in progress at the time the Regulation entered into force. This means that the transitional regime can be applied only in cases where the settlement of instruments requires subscription to a new derivative banned under the Regulation.

Existing positions can, however, continue to be held after 18 October. The Regulation does not stipulate that an online provider of the instruments referred to in the Regulation must close down the existing trading accounts of Belgians, but rather that no distribution may be carried out in Belgium.]

Hi 'Guest'. Please read my post (posted a few minutes ago) which shows that it's not at all forbidden for Belgians to trade forex or binary options (etc.). Only the commercialization of forex products (etc.) in Belgium, by foreign brokers, is forbidden... Cheers