At the end of the year 2016, France has endorsed the law Fir 2. The latter now requires strict rules in various sectors, including that of the trading on the forex, binary options and CFDs. Let us look at this in more detail.
The law Fir 2 has been put in place to promote transparency, the fight against corruption and the modernization of the economic life. The flagship measure of this law, for we amateur currency trading, is based on the prohibition of the advertising of forex products, binary options and some CFDs.
Now, are prohibited all forms of communication of a promotional nature made directly or indirectly by investment services providers, by electronic means, for individuals and for financial instruments that are difficult to understand and potentially very risky.
The Financial Markets Authority has to get to the page and add to its general regulations, a title headed » Extent of supervision of the communications of a promotional nature on the financial contracts «.
In this section, the AMF specifies that in application of article L. 533-12-8 the monetary and financial code, the communications of a promotional nature bearing on the contracts of binary options, contracts with prior to an investment, direct or indirect, on the foreign exchange market, the financial contracts with the payment differential, that have a higher leverage to five or any other financial contracts having an equivalent economic effect are prohibited.
In effect, this measure of the law Fir 2 has led to the closure of many sites promoting elements, now banned, as mentioned above. They were, in effect, the law.