19 brokers goes to the Belgian list of warnings

The Belgian regulator of financial markets - FSMA - the equivalent of the Polish KNF, updated the list of public warnings today. There are as many as 19 new positions on the list, which are unregulated Forex, CFD and binary options brokers. The warnings do not suggest weaknesses in the reliability of the services provided or problems with the payout of deposits. They mainly relate to the mere fact of operating without proper authorization from the Belgian government.

Brokers blacklisted

• Aaoption / CFDStocks / Pacific Sunrise UK Ltd
• Benedict Morris / BMBOption / Log Trading Capital Ltd
• BigOption / Wirestech Limited
• Binarynvest
• Brevan Invest / Kasuar Ventures Ltd
• Capital Epargne
• CFDStocks / Pacific Sunrise UK Ltd
• City Bank CFD
• Comex Partners
• Edgedale Finance / Gold Horizen Ltd
• Finances Capital
• Financial Futures Ltd (cloned firm) / Digifirst Hungary Kft
• FMTrader / Terapad Services Ltd / FM Marketing Ltd
• Ivoryoption / Arya Group Ltd / Arianus Marketing Ltd 
• London Global Markets 
• Markets Central Investment
• OptionXchange / Globe & co Ltd / Sterling Consultancy Options (SC-Options)
• Owpremium
• Swiss Capital Invest (Swiss Capitalinvest / Swiss-CapitalInvest) / Atlasreference Unipessoal LDA

The Belgian oversight is also reminiscent of the current total prohibition in force since August 2016 on the offer of binary options in Belgium. The ban also includes other derivative instruments with less than one hour expiry time and those that directly or indirectly use the leverage mechanism (i.e. also FX and CFD).

Read: Belgium prohibits forex trading. Is this the beginning of change?

The introduction of the aforementioned restrictions explains the ministry's intention to introduce better and more effective protection of consumers against inadequate (for them) financial products.

A full list of FSMA public alerts