France's AMF Adds Three Firms to its Forex Warning List, Now 23 Unauthorised In Total

AMF and ACPR adds 3 firms to its forex warning list, bringing latest total to 23 by adding: Investment

AMFFrance’s financial markets regulators, the Authority on Financial Markets (Autorité des Marchés Financiers -or – AMF) , and the Autorité de Contrôle Prudentiel et de Résolution (ACPR) of the Bank of France, have published a new updated list of websites and entities offering investments on the unregulated foreign exchange (Forex) market in France, without authorisation to do so, according to the latest warning dated December 16, 2013.

In comparing this list to the regulators’ previous such warning issued in April 2013, it appears that the following three firms are the newest additions to its latest Forex warning list:

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  • / Investment Formula Corporation
  • / IB International Ltd.
  • / Motion Forex Ltd.

This news release is the sixth warning issued by the AMF and ACPR since July 7, 2011, as described in the official statement.

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According to the regulators’ description in this warning, the websites listed below may change very quickly (on the regulators’ website) and this list is not intended to be exhaustive. The updated list (during time of publication by Forex Magnates) is as follows: [Italic font denotes the above-mentioned newest additions since April, 2013]

  1. Forex Place Limited
  2. Marketrade Ltd.
  3. / BFOREX Limited
  4. CFB International Ltd.
  5. / Evolution Market Group Inc.
  6. Forextrada
  7. / Forex Tradition
  8. / Surplus Finance SA
  9. / GCI Financial Limited
  10. / Investment House International
  11. / IP International Service
  12. / InstaForex Companies Group
  13. / IB International Ltd.
  14. / ICM WORLDWIDE Ltd.
  15. / Investment Formula Corporation
  16. International Traders Network FX
  17. MT Capital Partners
  18. / Motion Forex Ltd.
  19. Neto Trade Global Investment
  20. Landkey Enterprises Inc.
  21. Sunbird Trading limited
  22. Sisma Capital Limited
  23. / IP International Service – AJ BROWDER

ACPThe AMF and ACPR described the warning as a reminder of the specific risks attached to Forex products offered to the general public, and highlighted the importance of checking that the financial intermediary offering or recommending investments features on the list of financial institutions authorised to do business in France check

If the intermediary in question is on these lists, the warning strongly recommended avoidance of offered services in France, as the listed firms are in breach of the applicable legislation and are not required to comply with basic rules of investor protection, information disclosure and claims handling, as described in the posted warning by AMF.

A full copy of the warning can be found on the AMF’s website.

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