AMF, France financial regulator, has blacklisted yet another number of unauthorized entities proposing atypical investments. The watchdog says these domains were illegally promoting trading products in the country.
September 29, 2020 | AtoZ Markets – France’s top financial regulator Autorité des marchés financiers (AMF) announced Monday that it wishes to inform investors that the following websites have not been granted authorization to propose atypical investments or offer binary options trading.
AMF warns against 19 unauthorized websites of binary option brokers
The French regulator has blacklisted the following domains of atypical investments:
A new website was added in the binary options trading category:
It stresses that the marketing, distribution, and sale, in France or from France, of binary options to retail investors are prohibited.
Since January 1, 2020, the AMF has added 70 websites to its list of unauthorized entities proposing atypical investments. Last year, the regulator added 112 names to their warning list. These websites may change very quickly and these lists presented in alphabetic or thematic order are not intended to be exhaustive.
So you need to be wary
Unauthorized FX brokers are becoming common in the industry, as fraudsters have grown increasingly resourceful in recent years. A commonly adopted tactic is for scammers to advertise an illegal operation as a reputable brand or entity. They do this in order to dupe unsuspecting investors into parting with their personal details or cash.
As a result, AMF urges investors to consult its website (www.amf-france.org), before conducting business with investment firms, in order to ascertain the entities which are licensed to provide investment services and/or investment activities. Although AMF works alongside other national financial industry supervisors, it is hard work to flag as many illicit websites as possible.
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