Forex Trading in Belgium: 2017 FSMA warning list


Last year the Financial Services and Markets Authority (FSMA) of Belgium has banned the highly speculative financial products. How did this decision impact the Forex trading in Belgium? Has the ban backfired?

24 March, AtoZForex   The Belgium regulator's ban was made effective on the 18th of August 2016. However, since the implementation the void of unregulated brokers have been increasing. Even with the start of the new year, the FSMA has seen an increase of unauthorised binary options and Forex brokers.

Alongside, the number boiler rooms and recovery rooms have been growing as well. The Belgium regulator issued this week an update in regards to the long FSMA warning list of 2017.  Check the brokers below, in order to confirm that you are not dealing with any of them.

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Forex Trading in Belgium: 2017 FSMA warning list

The Belgium watchdog warns the investors against the unlawful activities of the listed entities. In addition, as a reminder, the financial regulator stresses that since August 2016, no financial firm is permissible to trade highly speculative instruments in Belgium. However, any financial entity willing to offer such products including Forex trading in Belgium should get authorization from the FSMA.

The listed entities do not comply with the regulations and the prohibitions. According to the FSMA, investment frauds have involved in a large number of cases. As a result, the investors lost their invested funds. Therefore, the financial watchdog issues a long list of such entities. The FSMA claims the listed entities to be unauthorized and unregulated to provide any financial services within the Belgium territory.

Benedict Morris - BMBOption - Log Trading Capital Ltd www.bmboption.com
BigOption - Wirestech Limited www. Bigoption.com
Binarynvest www.binarynvest.com
Brevan Invest - Kasuar Ventures Ltd www.brevan-invest.com
Capital Epargne www.capital-epargne.com
City Bank CFD www.citybankcfd.com
Comex Partners www.comexpartners.com
Edgedale Finance - Gold Horizen Ltd www.edgedalefinance.com
FMTrader - Terapad Services Ltd - FM Marketing Ltd www.fmtrader.com
Finances Capital www.finances-capital.com
Financial Futures Ltd (cloned firm) - Digifirst Hungary Kft www.financial-futures-ltd.com
Ivoryoption - Arya Group Ltd - Arianus Marketing Ltd www.ivoryoption.com
London Global Markets www.londonglobalmarkets.com
Markets Central Investment www.markets-central-investment.com
OptionXchange - Globe & co ltd - SC-Options www.optionsxchange.com
Owpremium www.owpremium.com
Pacific Sunrise UK Ltd - Aaoption - CFDStocks www.cfdstocks.com et www.aaoption.com
Swiss Capital Invest (Swiss Capitalinvest/ Swiss-CapitalInvest.com/ Swiss-CapitalInvest) / Atlasreference Unipessoal LDA www.swisscapitalinvest.com 

What is recovery room fraud?

The FSMA also cautions the investors against “recovery room” frauds. In this type of scam, the fraudsters contact the previous fraud victims unsolicitedly by phone. They claim to recover the losses incurred in exchange for a small fee or financial services.

Therefore, the investors should be watchful if they ask to deposit or transfer money to any account number they mention. Last but not least, the Belgium financial regulator stresses that there is a great amount of risk in trading highly speculative products. The investors can lose the entire invested amount and can even lose more than the initially invested amount.

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