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Attachments: Breaking News: Belgium bans all leveraged Forex, CFDs
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Breaking News: Belgium bans all leveraged Forex, CFDs

  • Post #1
  • Quote
  • First Post: Aug 14, 2016 8:53am Aug 14, 2016 8:53am
Breaking Forex Industry News… Following our recent report that France’s financial regulator AMF has banned all advertising of Forex products, binary options and some CFDs, LeapRate has learned that Belgium’s regulator FSMA has taken the measure a step further and banned not just the advertising and marketing aspect, but also offering these products for sale to Belgian traders altogether.

Meaning, a total ban on leveraged financial products trading in Belgium for retail traders.

What does this mean for brokers regulated elsewhere in the EU?

https://www.leaprate.com/2016/08/bel...tions-trading/
https://www.leaprate.com/2016/08/bel...tions-trading/
wonder how many other countries gonna follow the lead and will this effect the euro?
Belgium is NOT a big player in the leveraged forex market anyway. Has anyone heard of a Belgian broker? Their loss.
Make your losses in demo. Earn your profits live.
Quoting Forexia
Belgium is NOT a big player in the leveraged forex market anyway. Has anyone heard of a Belgian broker? Their loss.
It isn't just a ban on brokers in Belgium.
It means that if you live in Belgium, you cannot trade forex anymore with any broker from Belgium or anywhere else in the EU.
  • Post #6
  • Quote
  • Edited Aug 15, 2016 1:43am Aug 14, 2016 8:25pm | Edited Aug 15, 2016 1:43am
Quoting mitch77
{quote} It isn't just a ban on brokers in Belgium. It means that if you live in Belgium, you cannot trade forex anymore with any broker from Belgium or anywhere else in the EU.
Trade with brokers from UK then since UK is no longer part of EU. FCA is a much better regulator; brokers regulated by FCA UK are lot better anyway.
Make your losses in demo. Earn your profits live.
So by regulating against the regulated broker scene, Belgium may actually be doing more harm than good... How many Belgian traders will now be forced to simply trade with an unregulated broker, or simply someone in the Caribbean that will have no regard for the rules?

With the way the industry is heading, many other country's will be using Belgium as a case study before ramping up their own restrictions.
Australian Forex Broker - Try a Vantage FX RAW ECN Account Today.
This is becoming common, there are problems with brokers all over the world...

Does this mean that one day all brokers will be banned everywhere?

First USA, then Australia, France had a problema a few weeks ago, now Belgium.

Should I fear?
A good strategy for trading is... the opposite of having a bad strategy.
Quoting mitch77
{quote} It isn't just a ban on brokers in Belgium. It means that if you live in Belgium, you cannot trade forex anymore with any broker from Belgium or anywhere else in the EU.
  • Post #10
  • Quote
  • Edited 2:42am Aug 15, 2016 2:15am | Edited 2:42am
Quoting Shakespeare (Hamlet (1.4), Marcellus to Horatio):


Something is rotten in the state of Forex.
I'm from Belgium, what can I do to still be able to trade?
I am in shock pfffffffff!
Quoting Maverick1974
I'm from Belgium, what can I do to still be able to trade? I am in shock pfffffffff!
Like I said before:

Quoting Forexia
{quote} Trade with brokers from UK then since UK is no longer part of EU. FCA is a much better regulator; brokers regulated by FCA UK are lot better anyway.
Or get out of Belgium. Lots of nice places to live in Europe or move to Singapore, the best place to trade FX.
Make your losses in demo. Earn your profits live.
Quoting Maverick1974
I'm from Belgium, what can I do to still be able to trade? I am in shock pfffffffff!
  • Post #14
  • Quote
  • Edited Aug 16, 2016 2:06pm Aug 15, 2016 7:27pm | Edited Aug 16, 2016 2:06pm
Overruling MiFID on OTC spot FX regulation is quite an interesting precedent..

As far as binary options go, they should have followed the route of the Channel Islands and other jurisdictions by classifying them as a gambling product (rightfully so), and regulating them separately as such.
Quoting Forexia
{quote} Trade with brokers from UK then since UK is no longer part of EU. FCA is a much better regulator; brokers regulated by FCA UK are lot better anyway.
UK is still a member, if they leave without retaining passporting rights they might not be allowed to offer to EU customers at all. But actually that doesn't matter that much in this case. Brokers are not outside the law and could theoretically be punished for offering to Belgium customers independent of the brokers actual country of incorporation.

However, it might be interesting to find out the exact definition of retail. Many "better" brokers do not offer to retail at all, you need to classify as a professional trader which usually isn't that hard if you're serious about trading.
There is one definite way out though: Belgium has no CFC rules, so going off-shore is easy and has no big tax complications You can actually leave the country without leaving it!
Quoting Mingary
Quoting Shakespeare (Hamlet (1.4), Marcellus to Horatio): Something is rotten in the state of Forex.
Indeed... must be the retail crowd starting to outsmart the quants...
mind over matter
Quoting JensG
{quote}Belgium has no CFC rules, so going off-shore is easy and has no big tax complications You can actually leave the country without leaving it!
I wish it was that easy
  • Post #18
  • Quote
  • Edited 3:48am Aug 16, 2016 3:36am | Edited 3:48am
Quoting PowerTrade
This is becoming common, there are problems with brokers all over the world... Does this mean that one day all brokers will be banned everywhere? First USA, then Australia, France had a problema a few weeks ago, now Belgium. Should I fear?

France banned only advertising and I think it's not so bad, because it is very aggressive, especially by MM brokers that induce newbies to make "very good recommended trades" just to take whole account. USA didn't ban retail forex trading, but only trading with foreign brokers. What about Australia? I haven't heard anything.
Quoting Maverick1974
I'm from Belgium, what can I do to still be able to trade? I am in shock pfffffffff!

Don't worry, if you are serious about trading just open account with any FCA or ASIC regulated broker and tell them that you want to be treated as professional trader
Quoting Dkam
{quote} I wish it was that easy
Care to explain where the problem is?
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