ESMA is concerned about CFD restriction compliance in the EU

The European Securities and Markets Authority (ESMA) has voiced concerns that financial service providers are not complying with the regulator’s restrictions installed on Contracts for Differences in the past. The EU regulator had limited the marketing and promotion of CFD related products to EU customers by EU companies, but there seemed to be a small loophole in the law. Third-country based companies would have the right to offer these products to EU-based customers, should the customers themselves show initiative of registering with the service providers. This also concerns cryptocurrency CFDs as nearly every brokerage hinges on its promotion and trading