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The French financial regulator i.e. Autorité des Marchés Financiers or AMF has said that they will be waiving the ban off Binary Options, CFD, and Forex trading broker 24option.com. The removal of this prohibition ensures that the service will soon start operating in France.
The parent company Rodeler Limited which holds a valid CySEC license for 24option in Greece has said that the ban was enforced in August 2016. The AMF through its findings stated that 24option was offering Binary Options trading brokerage services to clients in France.
The AMF has now stated that since the ban was enforced the company (24option) had taken all the required measures to fix the situation. All of this means that 24option will now retool its service offering in the country thereby offering only CFDs and trading options which are allowed in France.
France is often recognized as being one of the strictest financial regulators in Europe especially when it comes to trading using leverages, currencies and binary options. Last August a blanket ban was enforced on advertising of all types leveraging trading services in France. However, it was later clarified that the ban didn’t restrict CFDs that used stop-loss measures.
The primary requirement which 24option had to deal with was to install and ensure a hard guarantee type stop loss for every type of CFD trade. Each trader can only enter into a CFD trade with a particular stop loss in place and only then can the trade be executed. Clients that have zero equity will be automatically stopped from trading which ensures that traders don’t have negative balances.
Even though 24option will see this as good news, the company has managed to find itself in trouble more than once as of late especially with regulators. The company had applied for a Forex Brokerage license in Russia but which was turned down. 24opion has also received a warning from the FMA which is the New Zealand’s financial regulator.
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