Is CFD broker LegacyFX evading the AFM decision?
CFDs or contracts for difference are very risky investments with leverage. So risky, in fact, that the Dutch AFM has banned, via a law, the riskiest variants with leverage above 1:30. This provision was widely circumvented by selling CFDs with a leverage of 1:200 through brokers from Cyprus, but several Dutch courts ruled against this in 2021. Investors got their money back. A broker from Vanuatu? What we have since seen is multiple other ways [...]