The US derivatives watchdog has blacklisted 45 foreign online trading platforms including CJSC Capital Com Bel, the Belarusian entity of multi-regulated broker Capital.com. Commodity Futures Trading Commission (CFTC) on Monday announce It added the entity and others to its list of registry insufficiencies (RED List).
The RED list, introduced in September 2015, lists “unregistered foreign entities” that the regulator believes target US investors and traders without permission to operate in the country. at the time of publication, finance poles Capital.com has not yet received comment on adding one of its entities to the list.
Other platforms tagged by the CFTC and added to the RED list include 24OptionForex, 24OptionForex Investment Group, AlvaroFxPro, BBT Capital Limited, BBT Forex, Binance FX Trading, Binary Option Trades, CapitalInvestOption, CedarFX, Cedar LLC, Coingate ForexPro, Crypto Banxa Pro Trade and CryptoBanxaTrade.
Also includes: CryptoBinaryTrade, CryptocurrencyBitcoinxtrade, CryptoFXMarket, CryptoInvestments, CryptoLifeTrade, Crypto Prolite, CryptorateFX Ltd. and Elite Financial Group Ltd. Elite Financial Markets and ExtremeEarners.
The regulator has also added: FastfxtCoin, Finance Trade Capital, Foretrade Mining, Forex Capital Gain, Forex Cash Market, FxMetaTrust, Galaxy Stock Trade, PrimeFX, ProsperityFX and Prosperity LLC to the list.
Others on the list are: Quick FX Trade, Ronghui Group, Safe Side Trading Ltd, SmartBitOption, Smart Bit Options, Smart Forex Broker, Smpfxtrade, Standard Crypto Trading, TradersOption, True Forex Funds, Unlimited Forex Goals.
CFTC warns US traders off the platforms
Ian McGinley, the CFTC’s director of enforcement, noted that the RED List identifies entities “that have the potential to cause irreparable financial harm to unsuspecting Americans.” Therefore, he urged investors in the country to “check the RED listing before they trade because they may have little or no protection if they choose to trade with unincorporated companies that operate outside the United States.”
“A company is added to the RED List when the CFTC determines, through surveys and questions from the public, that it is not registered with the CFTC and appears to be acting in a capacity that requires registration, such as trading binary options, foreign currency (forex), or other products,” the CFTC explained. .
With the addition of 45 newly flagged trading companies, the CFTC has now added a total of 240 “unregistered foreign entities” to the RED list. This is even with the regulator in July last year adding 34 illegal binary options and trading platforms to the list. Meanwhile, the Commodity Futures Trading Commission in April sued 14 retail forex and commission futures dealers for “fraudulently alleging” registration with the agency.
Across other regions, regulators are also cracking down on illegal trading platforms operating in their jurisdictions. Last week, the UK’s Financial Conduct Authority identified 44 illegal trading platforms active within its borders, with the New Zealand regulator blacklisting two on Monday.
Nasdaq acquires Adenza; A16z office in London; Read the news block today.
The US derivatives watchdog has blacklisted 45 foreign online trading platforms including CJSC Capital Com Bel, the Belarusian entity of multi-regulated broker Capital.com. Commodity Futures Trading Commission (CFTC) on Monday announce It added the entity and others to its list of registry insufficiencies (RED List).
The RED list, introduced in September 2015, lists “unregistered foreign entities” that the regulator believes target US investors and traders without permission to operate in the country. at the time of publication, finance poles Capital.com has not yet received comment on adding one of its entities to the list.
Other platforms tagged by the CFTC and added to the RED list include 24OptionForex, 24OptionForex Investment Group, AlvaroFxPro, BBT Capital Limited, BBT Forex, Binance FX Trading, Binary Option Trades, CapitalInvestOption, CedarFX, Cedar LLC, Coingate ForexPro, Crypto Banxa Pro Trade and CryptoBanxaTrade.
Also includes: CryptoBinaryTrade, CryptocurrencyBitcoinxtrade, CryptoFXMarket, CryptoInvestments, CryptoLifeTrade, Crypto Prolite, CryptorateFX Ltd. and Elite Financial Group Ltd. Elite Financial Markets and ExtremeEarners.
The regulator has also added: FastfxtCoin, Finance Trade Capital, Foretrade Mining, Forex Capital Gain, Forex Cash Market, FxMetaTrust, Galaxy Stock Trade, PrimeFX, ProsperityFX and Prosperity LLC to the list.
Others on the list are: Quick FX Trade, Ronghui Group, Safe Side Trading Ltd, SmartBitOption, Smart Bit Options, Smart Forex Broker, Smpfxtrade, Standard Crypto Trading, TradersOption, True Forex Funds, Unlimited Forex Goals.
CFTC warns US traders off the platforms
Ian McGinley, the CFTC’s director of enforcement, noted that the RED List identifies entities “that have the potential to cause irreparable financial harm to unsuspecting Americans.” Therefore, he urged investors in the country to “check the RED listing before they trade because they may have little or no protection if they choose to trade with unincorporated companies that operate outside the United States.”
“A company is added to the RED List when the CFTC determines, through surveys and questions from the public, that it is not registered with the CFTC and appears to be acting in a capacity that requires registration, such as trading binary options, foreign currency (forex), or other products,” the CFTC explained. .
With the addition of 45 newly flagged trading companies, the CFTC has now added a total of 240 “unregistered foreign entities” to the RED list. This is even with the regulator in July last year adding 34 illegal binary options and trading platforms to the list. Meanwhile, the CFTC in April sued 14 retail forex and commission futures dealers for “fraudulently alleging” registration with the agency.
Across other regions, regulators are also cracking down on illegal trading platforms operating in their jurisdictions. Last week, the UK’s Financial Conduct Authority identified 44 illegal trading platforms active within its borders, with the New Zealand regulator blacklisting two on Monday.
Nasdaq acquires Adenza; A16z office in London; Read the news block today.