French Regulators Blacklist 20 Unauthorized Forex Trading Platforms
- 28 FX platforms and one crypto platform which are operating illegally were added in 2022.
- The list now adds hundreds of illegal platforms offering forex and crypto derivatives services.
Two French financial market supervisors, the Autorité des Marchés Financiers (AMF) and Autorité de Contrôle Prudentiel et de Résolution (ACPR), issued a warning list on Tuesday, adding 20 unauthorized forex trading
Forex Trading
Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying
Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying
Read this Term platforms.
The latest blacklisted trading platforms are altofx.com/en, europatradecapital.com/fr/, en.brokeragea.com, en.foxane.com, en.xpoken.com, honorfx.com/en, tntroyal.com, www.axeprogroup.com, www.businessempire.fr, www.finanbelt.com/fr, www.mergers-capital.com, www.primeonline.trade/fr, www.profundseu.com, www.shares2win.com, www.swiss29.com, www.swissmarketfx.com, www.tradehorizon2.com/en, www.trade-horizon.com/fr, www.union-wallet.com and www.xnvest.com.
Apart from unauthorized forex trading platforms, the list includes other illegal derivatives service providers including cryptocurrencies
Cryptocurrencies
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw
Read this Term, which are illegally operating in the country.
The regulators did not identify any unauthorized crypto trading platforms in the second quarter of the ongoing year. However, it has added 28 forex trading platforms and one crypto trading platform to the blacklist since the beginning of 2022.
Hundreds of Blacklisted Platforms
The blacklist, which is available for the public to review, has added almost 300 unauthorized forex trading platforms in total and around 150 illegal crypto derivatives. In addition, it includes hundreds of illegal binary options platforms and unauthorized platforms offering other financial services.
However, the French regulator pointed out that new unauthorized and illegal financial service platforms often spawn new platforms, thus making its blacklist outdated. They advised traders to refer to the list of licensed platforms instead.
Meanwhile, other European regulators are actively monitoring the market to weed out unauthorized platforms. Recently, the Cypriot financial market regulator flagged seven names that are offering counterparty trading services, mostly with forex and cryptocurrencies.
Two French financial market supervisors, the Autorité des Marchés Financiers (AMF) and Autorité de Contrôle Prudentiel et de Résolution (ACPR), issued a warning list on Tuesday, adding 20 unauthorized forex trading
Forex Trading
Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying
Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying
Read this Term platforms.
The latest blacklisted trading platforms are altofx.com/en, europatradecapital.com/fr/, en.brokeragea.com, en.foxane.com, en.xpoken.com, honorfx.com/en, tntroyal.com, www.axeprogroup.com, www.businessempire.fr, www.finanbelt.com/fr, www.mergers-capital.com, www.primeonline.trade/fr, www.profundseu.com, www.shares2win.com, www.swiss29.com, www.swissmarketfx.com, www.tradehorizon2.com/en, www.trade-horizon.com/fr, www.union-wallet.com and www.xnvest.com.
Apart from unauthorized forex trading platforms, the list includes other illegal derivatives service providers including cryptocurrencies
Cryptocurrencies
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw
Read this Term, which are illegally operating in the country.
The regulators did not identify any unauthorized crypto trading platforms in the second quarter of the ongoing year. However, it has added 28 forex trading platforms and one crypto trading platform to the blacklist since the beginning of 2022.
Hundreds of Blacklisted Platforms
The blacklist, which is available for the public to review, has added almost 300 unauthorized forex trading platforms in total and around 150 illegal crypto derivatives. In addition, it includes hundreds of illegal binary options platforms and unauthorized platforms offering other financial services.
However, the French regulator pointed out that new unauthorized and illegal financial service platforms often spawn new platforms, thus making its blacklist outdated. They advised traders to refer to the list of licensed platforms instead.
Meanwhile, other European regulators are actively monitoring the market to weed out unauthorized platforms. Recently, the Cypriot financial market regulator flagged seven names that are offering counterparty trading services, mostly with forex and cryptocurrencies.