Disliked{quote} Trade with brokers from UK then since UK is no longer part of EU.Ignored
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Disliked{quote} Trade with brokers from UK then since UK is no longer part of EU.Ignored
Disliked{quote} Tracking where you are trading from is kinda easy. If they can prove that i am working from Belgium then i have to pay taxes in Belgium and i will get sued for tax evasion if i tried to avoid it. If it really was that easy nobody would pay taxes since we all would place our company in some kind of tax haven ...Ignored
Disliked{quote} I didn't say you trade tax free, I just said it has no big tax complications. Big difference.Ignored
Disliked{quote} Correct, but you also said: "You can actually leave the country without leaving it." Technically yes, you can do that. Until they find out, then you are f*cked big time.Ignored
Disliked{quote} No, you're not. The business is registered in Jersey or Bulgaria or whatever. You may not have the tax benefit of that jurisdiction but when it comes to trading the Belgium authority is no longer your problem. Trading isn't illegal in Belgium, just offering that service to residents in that country, from the brokers point of view, the customer is not belgium, it's a company that is managed from Belgium.Ignored
QuoteDislikedThe Regulation applies to unlisted, or 'over-the-counter' (OTC) derivatives. It does not apply to derivatives that are admitted to trading on a regulated market or on a multilateral trading facility.
QuoteDislikedA multilateral trading facility (MTF) is a European regulatory term for a non-exchange financial trading venue. ..., typically using electronic systems. The concept was introduced within the Markets in Financial Instruments Directive (MiFID)
QuoteDislikedLMAX Exchange is a London-based FCA-regulated multilateral trading facility (MTF) for FX trading. LMAX Exchange provides low latency, order-driven execution venue for electronic trading on the foreign exchange market (FX). LMAX Exchange operates an MTF as defined in the Markets in Financial Instruments Directive (MiFID). At the core of an MTF concept is an exchange style trading model; just as on an exchange - orders are matched in price/time priority with no 'last look' or ability to reject orders by liquidity providers.
DislikedI am Belgian and I must say my heart skipped a beat when I read this. However, after some digging, I found that it's the advertising of said products that is forbidden. Not the actual trading itself.Ignored
DislikedFrom FSMA's official website (http://www.fsma.be/en/Site/Repositor...8_banning.aspx): {quote} From wiki : {quote} So, from my understanding an ECN is not quite like an MTF. I think most ECN's do not comply with all the MTF rules. One of the (few) exceptions is LMAX broker; wiki: {quote} More on mtf : https://en.wikipedia.org/wiki/Multil...ading_facility http://thefxview.com/2014/03/02/what...-facility-mtf/Ignored
Disliked{quote} Ok so I was right then. It doesn't matter that you are a Belgian citizen, it's just that brokers in Belgium are not allowed to offer leveraged forex products anymore. So WHY don't you trade with a firm that is NOT from Belgium especially a firm that even qualifies as an MTF which this ban does not apply?Ignored