Schlagwort-Archive: Forex Broker

Zero Tolerance against fraud by forex, CFD’s and binary options brokers

Publiziert am 19. März 2018 von admin

The Petition will be sent to EU authorities

Veröffentlicht unter Allgemein, BinaryOptions, Forex | Verschlagwortet mit Cyprus, Forex, Forex Broker | Kommentare deaktiviert für Zero Tolerance against fraud by forex, CFD’s and binary options brokers

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Aggressive Selling Techniques used by Forex and Binary Options brokers 36 downloads 2.57 MB
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Neuauflage 2017

Zero Tolerance against fraud by forex, CFD’s and binary options brokers

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Zero Tolerance against forex, CFD’s and binary options brokers

Fraudulent practices by forex, CFD’s and binary options brokers have been tolerated by National competent authorities for a long time.

Among such practices: Withholding of Clients’ Money, Price Manipulation, Misleading Advertising

The majority of forex, CFD’s and binary options brokers are based in Cyprus, where supervision has proven to be lax in most cases.

The measures taken against above practices, if any, have not been adequate and dissuasive, since these practices have been persisting until now.

The most frequent sanction imposed by Cyprus authorities was a fine. The max. fine to be imposed was € 350.000. In several cases the fines ranged between € 20,000 and € 50.000.

If you consider that the forex market achieves volumes amounting to trillions, fines of this size are neither adequate nor dissuasive.

Pursuant to Art. 70 of the MiFID II directive, the fines should amount to at least € 5.000.000, or 10% of turnover, or twice the benefit derived from the infringement.

I request that the provisions of Art. 70 are successfully implemented in the whole EU.

Fines of the above size could be possibly dissuasive, would not hit honest market participants and would be an alternative to over regulating the market.

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Schlagwort-Archive: Forex Broker

Zero Tolerance against fraud by forex, CFD’s and binary options brokers

Bücher

Trading & Complaints

Aktuelle Meldungen

Neuauflage 2017

Zero Tolerance against fraud by forex, CFD’s and binary options brokers

Zero Tolerance against forex, CFD’s and binary options brokers