CFTC Adds 70 New Forex and Binary Options Brands to its ‘RED List’

The U.S. Commodity Futures Trading Commission (CFTC CFTC The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss Read this Term) today updated its caution list, the 'RED List', in which it warns the public against unauthorized FX and binary options firms that are illegally conducting financial services targeting the country’s residents. The CFTC added 71 new names to the List, bringing the total number of backlisted entities to over 110.

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Short for 'Registration Deficient List', the RED list follows the example of other regulators abroad, such as the AMF (Autorité des marchés financiers) in France, which allows investors to identify unregistered foreign entities that may be engaged in illegal practices.

The U.S. regulator’s list includes Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and binary options brokers that appear to be soliciting and/or accepting funds from U.S. residents without having obtained CFTC registration, providing more protection and transparency for investors.

According to the CFTC, many of these foreign entities are acting in a capacity requiring them to be registered with the CFTC. Registration allows the agency to provide greater security and oversight of the industry by examining whether firms meet minimum financial standards as well as disclosure, reporting and recordkeeping requirements. However, the press release emphasized that registration is no guarantee against fraud or mismanagement by an unethical firm, although it does help bring a higher level of security and accountability to the industry.

The following brands have been added to the RED List:

1. 10Markets
2. Eagle Gate
3. Omega Options
4. 1Billion Forex
5. eXbino
6. Option Giants
7. 33Option
8. Finpari
9. Option King
10. AAFX Trading
11. FinPro Trading
12. Options24hours
13. Advanced Options
14. Forex Ltd.
15. Oracle Stone
16. Allgo Trading
17. Forex Ukraine
18. Planet Option
19. Anthony, John
20. FX Moneyworld
21. Price Markets Brokerage
22. AOS Holding
23. Profitable Forex Advisors
24. ASK Options
25. FXT Swiss
26. Rbinary
27. AXI Trader
28. FXUmarkets
29. Safe Options
30. Azbinary
31. GFM Trader
32. Starling Capital
33. Barkley Capital
34. Glenridge Capital GMR
35. Stichting WST Capital
36. Bartle Investment Group
37. Forex Goptions.com
38. Tall Options
39. BinaryRoom365
40. Iforex
41. Trades Capital
42. Binex Markets
43. Inside Option
44. TradeThunder
45. BitVC
46. Instant Options
47. TradeWiseFX
48. BoursoPro
49. Int’l Brokers Assn Mkts
50. uTrader
51. BoursoTrade
52. GT Options
53. Vision Binary
54. Byrix Financial Investments
55. Janus Options
56. Weathika
57. Capital Bank Markets
58. London Binary Option
59. WinOptions
60. Capital Trade House
61. Market Options
62. Wynn Finance
63. Cherry Trade
64. MarketsWorld
65. com
66. MercerFX
67. CT Option
68. MFX Brokers
69. Empire Options
70. Morton Finance