Plus500, one of the major forex and CFD brokers, said it has reached a €550 000 settlement agreement with Belgium’s regulator, the Financial Services Markets Authority (FSMA).
The settlement was reached in the context of the public offering of investment instruments, including CFDs, by Plus500 in Belgium. The company, however, notes that the agreement does not mean admission of guilt, but rather a demonstration of respect for the authority of FSMA and to reach “a swift and final clearance of the jurisdictional process”.

Whatever the violation was, you can be rest assured it obviously impacted traders in a negative way. And as usual, nothing goes back to the people who actually suffered (the traders).

The FSMA clarified why they fined Plus500 with €550 000. It turns out that they didn’t follow the FSMA rules about advertising.

Thanks for the update Lawson.