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Breaking News: Belgium bans all leveraged Forex, CFDs

  • #81
  • Aug 27, 2016 5:51am Aug 27, 2016 5:51am
Quoting Decima
{quote} Still, I conclude you are not from Belgium and has taken a solid interest in guiding potential Belgium traders towards Hotforex. Hungarian or Canadian doesn`t matter. This is what you have done. Okay, you claim withdrawals. Put up a TE so we can follow your trading and see where your withdrawals are coming from. Untill, then just empty talk in my books. Also your response from the Hotforex support team, regarding use of adress and so on. Is this in line with CySec regulation? Because it is a breach of international anti-laundering agreements.....
Well yeah I will recommend brokers that actually pay you and have normal trading conditions, sorry for that crime What you mean by TE? I would gladly share my trades if thats you are interested in.
  • #82
  • Aug 27, 2016 6:34am Aug 27, 2016 6:34am
Quoting rockthepips
{quote} Well yeah I will recommend brokers that actually pay you and have normal trading conditions, sorry for that crime What you mean by TE? I would gladly share my trades if thats you are interested in.
Well, the sheer scale of your recommendations towards certain brokers, is nothing else than promotion. It is clear for everyone to see.

TE=Trade Explorer, you make claims of withdrawals. Well a TE to see that you actually are making money with them is further backing up your claims. Not for others to copy your trades but to see in real time that this is true. It is just too easy just putting up pictures with claims.

For my sake you shouldn`t bother, I believe I know what you are doing on these forums.

Also this post by you has been deleted by request of staff (Hotforex). Why? Because it is a violation of anti-laundering rules. Says a lot about the broker and their handling of the truth...

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Do not let the cost of being wrong, exceed the prize of beeing right
  • #83
  • Aug 27, 2016 7:17am Aug 27, 2016 7:17am
Also rockthepips, I have one question I want you to answer for me:

Why is not the picture from your chat with Hotforex available at the link from that post?

You are covering this up as well. Strong indications that you are not an independent forum member. If my broker had done this, I would not feel obliged to actually hide their faults and wrong-doings.

I would instead question the honesty and seriousness of the broker.


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Do not let the cost of being wrong, exceed the prize of beeing right
  • #84
  • Aug 27, 2016 8:56am Aug 27, 2016 8:56am
Why even discuss Cypriot brokers here after IronFX. Go with FCA or NFA regulated brokers. Safety of your funds is the most important factor in trading.
  • #85
  • Aug 29, 2016 4:16pm Aug 29, 2016 4:16pm
Quoting BlackPip
Why even discuss Cypriot brokers here after IronFX. Go with FCA or NFA regulated brokers. Safety of your funds is the most important factor in trading.
+1 Blackpip, I would never put my money on a not regulated broker.

Atm IC Markets and some other are not yet banning belgium people so currently no problems for me.
  • #86
  • Aug 31, 2016 1:14pm Aug 31, 2016 1:14pm
Quoting Decima
Also this post by you has been deleted by request of staff (Hotforex). Why? Because it is a violation of anti-laundering rules. Says a lot about the broker and their handling of the truth...
I actually asked to delete the post myself because it contained sensitive information that the recent law in Belgium prohibit. So yeah I was just trying to help, and offer a work around (because I was in the exact same situation with super strict forex laws in Canada) but I realized most people will take it the wrong way.

PS: I just re-read your post about the Trade-Explorer, can you recommend a service wich offers that?
  • #87
  • Sep 1, 2016 3:39am Sep 1, 2016 3:39am
Quoting BlackPip
Why even discuss Cypriot brokers here after IronFX. Go with FCA or NFA regulated brokers. Safety of your funds is the most important factor in trading.
I had exactly the same bad experience with IronFX, I deposited 500$, tripled it in a month, but then had to wait ages to get my money out. The withdrawals were always stuck in "processing" = http://photoshar.in/ironfx-pending-withdrawals-wtf
  • #88
  • Sep 27, 2016 12:29am Sep 27, 2016 12:29am
Oanda reopened their Belgian accounts since they finally got that it was a mininterpretation on their side. I have personally contacted someone working for a political party (Open VLD) in Belgium who has confirmed me that you are still allowed to trade CFD's and forex it's just the advertising that is nog allowed anymore.
  • #89
  • Sep 27, 2016 12:39am Sep 27, 2016 12:39am
We have received further clarification from the Belgian regulators. Based on this guidance we are pleased to share that we are able to continue maintaining your account. We value your business and apologize for any inconvenience this has caused. Your accounts are now unlocked and available for trading.
from Oanda
  • #90
  • Sep 27, 2016 12:41am Sep 27, 2016 12:41am
the misinformation in this thread is more than scandalous ... started by people who have nothing to do with Belgium and it's residents but feel the need to meddle ...
a bunch of idiots !
  • #91
  • Edited 2:05am Sep 27, 2016 1:48am | Edited 2:05am
Quoting Mingary
Quoting Shakespeare (Hamlet (1.4), Marcellus to Horatio): Something is rotten in the state of Forex.
Just out of curiosity since from what I've seen you're always down on Forex, do you still trade any Forex? I know there's a lot of problems in the world of Forex, so it's not like I'm oblivious about that. But thanks for reminding us all about the obvious, it's appreciated.
  • #92
  • Sep 27, 2016 7:06am Sep 27, 2016 7:06am
Quoting cvds16
Oanda reopened their Belgian accounts since they finally got that it was a mininterpretation on their side. I have personally contacted someone working for a political party (Open VLD) in Belgium who has confirmed me that you are still allowed to trade CFD's and forex it's just the advertising that is nog allowed anymore.
  • #93
  • Last Post: Oct 5, 2016 6:48am Oct 5, 2016 6:48am
Unfortunatly this is going to backfire on the the Belgium regulator.
By Banning the Forex, they may cleanup Belgium from regulated brokers to stop their activity in that territory. However, They will get stuck with the non-regulated brokers.

At least with regulated brokers they know where and how to nock their doors. Now ......
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