The US watchdog warns the investors by publishing the 71 new CFTC Banned Binary Options and Forex Brokers RED list. Are you dealing with any of them?
26 April, AtoZForex – The US Commodity Futures Trading Commission (CFTC) yesterday has added 71 new Binary Options and Forex brokers to its RED list.
Both the US financial regulators, NFA and CFTC, put their efforts to safeguard the American investors from frauds. Last month, we reported about the case, where the US National Futures Association (NFA) permanently banned FXCM.
What do we know about CFTC RED list?
The Registration Deficient (RED) list comprises of 71 new CFTC Banned Binary Options and Forex Brokers. The US financial regulator claims that these entities illegally solicit the Americans to trade in binary options and Forex. The RED list identifies illegally operating entities without any registration with the CFTC.
The list already had 36 such entities and after addition of these 71 new names, the total now reaches to over 110. According to the CFTC warning, the RED list entities are soliciting and accepting funds from the American investors at a retail level.
71 new CFTC Banned Binary Options and Forex Brokers
Moreover, the entities providing the binary options or Forex trading to the US residents need to get a legal license and/or registration from the CFTC. In fact, the entities of the RED list are not found to be registered with the US financial regulators to perform their business.
The RED list also works to help investors identify and protect themselves against any illegal conduct. See below the names of the 71 new CFTC Banned Binary Options and Forex Brokers.
|10Markets||Byrix Financial Investments||Glenridge Capital GMR||Oracle Stone|
|1Billion Forex||Capital Bank Markets||Forex Goptions.com||Planet Option|
|33Option||Capital Trade House||Iforex||Price Markets Brokerage|
|AAFX Trading||Cherry Trade||Inside Option||Profitable Forex Advisors|
|Advanced Options||Copyprofitshare.com||Instant Options||Rbinary|
|Allgo Trading||CT Option||Int’l Brokers Assn Mkts||Safe Options|
|Anthony, John||Empire Options||GT Options||Starling Capital|
|AOS Holding||Eagle Gate||Janus Options||Stichting WST Capital|
|ASK Options||eXbino||London Binary Option||Tall Options|
|AXI Trader||Finpari||Market Options||Trades Capital|
|Barkley Capital||Forex Ltd.||MercerFX||TradeWiseFX|
|Bartle Investment Group||Forex Ukraine||MFX Brokers||uTrader|
|BinaryRoom365||FX Moneyworld||Morton Finance||Vision Binary|
|Binex Markets||FXGM||Omega Options||Weathika|
|BitVC||FXT Swiss||Option Giants||WinOptions|
|BoursoPro||FXUmarkets||Option King||Wynn Finance|
CFTC’s advice against Customer Fraud
The US CFTC warned the US investors by issuing a Consumer Alert. The warning is regarding Binary options fraudulent schemes. Additionally, the CFTC warns the investors by characterizing the fraudsters operating these unlawful schemes. The fraudsters typically deny to credit client accounts, refuse fund reimbursement, commit identity theft and manipulate software to create losing trades.
Moreover, the foreign entities that solicit the US investors need to register with the CFTC. Therefore, it is vital for the investors to consider whether the soliciting foreign entity is registered with the CFTC. The US watchdog states that in certain cases the soliciting foreign entities have no or limited US presence. However, the entities operating in such capacity need to require registration, but they are not in fact registered. For this reason, the CFTC publishes the names of those foreign entities in order to warn the public.
What is CFTC’s goal to publish the RED list?
The main motto behind publishing the CFTC RED list is to make American investors aware about such unregulated, unregistered foreign entities. Additionally, it helps them to take decisions whether to trade with such an entity or not.
However, the CFTC further stresses to trade with and through registered entities only as this can help protect the investors’ funds.
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