Belgium bans Forex & Binary Trading, first in EU
Belgium Financial Services and Markets Authority (FSMA) announced the approval of its Regulation on distribution of ‘over-the-counter’ (OTC) derivatives. As a result, distribution of FX, CFDs, and Binary options among retail clients of Belgium is banned from August 18, 2016.
Because of rising number of complaints from citizens, FSMA has decided to completely ban binary options & Forex companies from operating in the country.
A spokesman for the FSMA said all binary options & FX firms, including those regulated and operated from Cyprus, will be banned from operating in Belgium. Companies that offer leveraged forex and CFD trading will also be banned from approaching Belgians.
The news on this ban comes shortly after the French regulator AMF announced that it is considering a ban on advertising of “highly speculative and risky financial contracts“ to the general public in France.