AMF warns against Unregulated Forex websites in France

More unregulated Forex websites in France were exposed today by French financial regulatory bodies. AMF has published an official warning for traders. What do we know?

28 June, AtoZForex The Autorité des Marchés Financiers (AMF), French financial regulator has been in collaboration with French Prudential Supervision and Resolution Authority (ACPR) for some time now. Authorities strive to consolidate their stance in relation to the financial markets’ regulation.

AMF warns against Unregulated Forex websites in France

Today, French AMF has reported that it has exposed 5 new Forex brokers’ websites with no authorization. The regulator states that the websites offered investment services without any registration on French Forex market.

Specifically, the official AMF announcement states:

“The AMF and the ACPR are publishing a list of new websites and entities offering investments on the unregulated foreign exchange (Forex) market in France, without authorisation to do so. Here is the list of new websites recently identified: / X90 / MT4 INVEST / GSS FINANCIAL / BOOM FOREX /PROMFX”

The watchdog highlights that these websites can change their names very quickly. Thus, this list is not intended to be exhaustive.

AMF adds four new Forex unregulated websites to its blacklist

Earlier this March, AMF has blacklisted another 4 Forex websites as a part of its collaboration with ACPR. French regulators claim that the websites are offering investments on the unregulated Forex market in France, without authorization to do so.

Apparently, French regulator has been very active in supervising the financial markets across the region and detecting fraudulent firms. That time, the AMF has identified the following websites:

• / Admiral Markets Global Solutions Ltd

• / FM Marketing Ltd

• / GoProBank

• / Trade24 Global Ltd

Following on this, the regulator advised that traders deal only with financial companies with a trading license. Also, the AMF cautioned the investors’ community that “any unauthorized intermediaries run the risk of criminal sanctions” and warns against “responding to offers from any broker on the published lists.”

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