France Regulators Blacklist 21 FX Brokers And FUTURBTC
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The France market regulators, the Financial Markets Authority (AMF), and the Prudential Control and Resolution Authority (ACPR) have added another 22 fraudulent websites to its blacklist. These websites were blacklisted during the third quarter.
The blacklisting of these websites is aimed at protecting investing by taking proactive measures. The regulators will ensure that these websites are no longer available to investors, thereby minimizing the likelihood of losses.
22 Brokers Blacklisted In France
France regulators are constantly updating the list of unauthorized websites providing forex and crypto-related derivative products without authorization. The blacklist seeks to promote investor safety and ensure investors do not interact with the unregulated financial platform.
The websites blacklisted by French regulators during the third quarter of the year areacapitalgroup.co, acy.com, algo-management.co, amoslimited.co, edgefinance.ltd, elvivainvest.com/fr, fr.greendax.org, fusiontrade.co, greendax.com, introtrade.pro, ipgate.trade, logiccryptofx.net, microngroup.ltd/fr, and omersfinance.ltd.
It also blacklisted www.cityinv260.com, www.cryptotradetech.net, www.erzinex.com, www.expochains.com, www.fortuna-invest.com, www.fxalta.com, and www.rn-investing.com.
One of the firms included in the blacklist is www.futurbtc.com. Since the start of the year, the AMF and the ACPR have added 43 unauthorized sites offering forex services to the blacklist. Only one crypto-asset derivatives provider has been added to this list.
Ensuring Investor Protection
The regulator usually adds these websites to the blacklist to protect investors. The sites are later made available to the public through the Assurance Banque Épargne Info Service (ABE IS) site.
The blacklist is available under the “Your Procedures – Protect yourself against scams – Blacklists of unauthorized websites and entities” folder.
The AMF website also lists the blacklisted sites, and they can be viewed under the “Savers area – Protect your savings – Blacklists and warnings” section. The sites are also visible under the AMF Protect Epargne application.
The list of the blacklisted sites is updated regularly. However, investors must note that the list does not include all the unauthorized actors, as new ones will sprout periodically.
France regulators usually urge financial intermediaries offering products and services to ensure they have the necessary licensing. They usually list the authorized investment service providers and authorized intermediaries on their site to ensure investors can access the available offerings.
Investors are urged to avoid engaging with individuals and organizations not on the authorized lists because they might violate the applicable regulatory framework. Listing on this platform might also compromise investor protection, reduce transparency, and affect the resolution process for complaints.
