France’s financial market regulators, the Autorité des Marchés Financiers (AMF) and the Authority for Control and Prudential Solutions (ACPR), have jointly flagged 14 foreign exchange websites operating in the country without permission. guards announce
New sites added to their blacklist today (Friday).
According to the regulators, illegal platforms include action-sure.com, algo-robot.co, eu.vtmarkets.com, fxwinning.pro and fxwinning.net. The list also includes mainet.business, mainetfrance.com, morganfinance.trade, rxkcapital.com and weareturbo.io. The others are xmarket-finance.com, xmonetatrading.com, autofxbroker.com and polarbtc.com.
Since the beginning of the year, AMF and ACPR have identified and blacklisted 22 illegal forex trading platforms. However, no new website was spotted offering unauthorized cryptocurrency derivatives to French citizens during this period.
AMF deals with automated forex trading
The latest addition to the blacklist comes on the heels of AMF’s recent warnings against automated forex trading platforms. Last month, the FCA flagged Immediate Connect, an investment scheme that tricked investors into signing up for unauthorized platforms offering automated forex and cryptocurrency derivatives trading, with the promise of high returns.
Likewise, the Arab Monetary Fund earlier this year warned investors to patronize the services of unregulated companies that sell subscriptions to automated forex trading robots. The regulator raised the alarm after it received several reports from investors and institutions, particularly those in the French overseas territories, about companies offering fraudulent trading bots in the forex market.
Regulatory actions in other regions
Outside of France, other market observers are actively combating the continuing rise in fraudulent forex trading and investment schemes. On Friday, the UK’s Financial Conduct Authority (FCA) announced Blacklisted clones From Interactive Brokers and Polar Capital LLP.
Earlier this week, New Zealand’s financial watchdog slammed a stop order on Validus and all associated companies. The regulator said the company, which supposedly invests in the foreign exchange, cryptocurrency and stock markets, was enticing investors by promising a 350% return on investment after more than 60 weeks.
Moreover, during the week the US Securities and Exchange Commission (SEC) took Florida-based Sanjay Singh to court for allegedly raising $112 million through an FX Ponzi scheme that promised investors 325% returns. Similarly, a US court recently ordered commodity aggregator operator Kai Yang and its companies to pay more than $24 million for committing a retail forex fraud that targeted members of the Hmong minority group.
France’s financial market regulators, the Autorité des Marchés Financiers (AMF) and the Authority for Control and Prudential Solutions (ACPR), have jointly flagged 14 foreign exchange websites operating in the country without permission. guards announce
New sites added to their blacklist today (Friday).
According to the regulators, illegal platforms include action-sure.com, algo-robot.co, eu.vtmarkets.com, fxwinning.pro and fxwinning.net. The list also includes mainet.business, mainetfrance.com, morganfinance.trade, rxkcapital.com and weareturbo.io. The others are xmarket-finance.com, xmonetatrading.com, autofxbroker.com and polarbtc.com.
Since the beginning of the year, AMF and ACPR have identified and blacklisted 22 illegal forex trading platforms. However, no new website was spotted offering unauthorized cryptocurrency derivatives to French citizens during this period.
AMF deals with automated forex trading
The latest addition to the blacklist comes on the heels of AMF’s recent warnings against automated forex trading platforms. Last month, the FCA flagged Immediate Connect, an investment scheme that tricked investors into signing up for unauthorized platforms offering automated forex and cryptocurrency derivatives trading, with the promise of high returns.
Likewise, the Arab Monetary Fund earlier this year warned investors to patronize the services of unregulated companies that sell subscriptions to automated forex trading robots. The regulator raised the alarm after it received several reports from investors and institutions, particularly those in the French overseas territories, about companies offering fraudulent trading bots in the forex market.
Regulatory actions in other regions
Outside of France, other market observers are actively combating the continuing rise in fraudulent forex trading and investment schemes. On Friday, the UK’s Financial Conduct Authority (FCA) announced Blacklisted clones From Interactive Brokers and Polar Capital LLP.
Earlier this week, New Zealand’s financial watchdog slammed a stop order on Validus and all associated companies. The regulator said the company, which supposedly invests in the foreign exchange, cryptocurrency and stock markets, was enticing investors by promising a 350% return on investment after more than 60 weeks.
Moreover, during the week the US Securities and Exchange Commission (SEC) took Florida-based Sanjay Singh to court for allegedly raising $112 million through an FX Ponzi scheme that promised investors 325% returns. Similarly, a US court recently ordered commodity aggregator operator Kai Yang and its companies to pay more than $24 million for committing a retail forex fraud that targeted members of the Hmong minority group.
