France's AMF Adds fxntrade.com And Tradmaker.com To Forex Warning List Now 25

The twin-peak regulatory structure in France, overseeing the local financial markets, via The Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR) has again warned the public of 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 websites not authorized to carry out business in its jurisdiction.

Just over a month since the dual regulators last announced that its list of unauthorized Forex firms had reached twenty-three websites, as covered by Forex Magnates, the warning dated January 28, 2014, follows as an update where the total now stands at twenty-five firms on the list.

The two new additions include, FxnTrade.com / Genus Group Ltd, and Tradmaker.com /Trading Technologies limited, with the total list containing the following firms below (in addition to the two new firms and the twenty-three previously warned about).

Two Firms Added Don't Appear Regulated Anywhere, as Can be Readily Seen

Looking at the FxnTrade website, the first number under the contact us section is a French telephone number, and the company describes itself as "founded in 2005 by two former traders of the city (London) in association with a Kuwaiti investment fund," although a physical address is not listed despite claims of multiple offices around the world, and an absence of any regulatory status persists as can be readily seen on the site. The firm lists the MetaTrader4 platform, along other purported platforms available.

In investigating the Tradmaker.com site, it came up in French, also citing MT4 and SIRIX platform offerings, and in its terms and conditions lists a London address and cites "CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term" regulations, except the broker doesn't appear to be regulated in Cyprus. The closest name of a Cypriot Investment Firm (CIF) listed by CySEC as authorized, currently is that of the firm Trademarker.com which is strikingly similar in name to the one in the warning - thus indicating a potential clone of a genuine broker. While Forex Magnates was unable yet to confirm any connection or website clone of the apparently unregulated firm with that of the genuinely regulated CIF, as noted above, we will follow this closely and update as needed.

Updated to Twenty-Five Forex Websites/Entities Warned About in France

The list of websites and entities offering investments on the unregulated foreign exchange (Forex) market in France, without authorization to do so, was noted as the seventh warning issued by the AMF and ACPR since 7 July, 2011. The latest list brings the total to twenty-five forex websites and associated entities, as noted above. In addition the list was described as not intended to be exhaustive and subject to change very quickly.

The updated list is as follows:

• www.4xp.com/fr / Forex Place Limited
• www.astonforex.com / Marketrade Ltd
• www.bforex.com / BFOREX Limited
• www.cfxmarkets.com / CFB International Ltd
• www.finanzasforex.com / Evolution Market Group Inc
• www.forextrada.com / Forextrada
• www.forextradition.com / Forex Tradition
• www.fxcast.com / Surplus Finance SA
• www.fxntrade.com / Genus Group Ltd
• www.gcitrading.com / GCI Financial Limited
• www.ihforex.com / Investment House International
• www.ikkotrader.com / IP International Service
• www.instaforex.com / InstaForex Companies Group
• www.integralbroker.com / IB International Ltd
• www.investcapitalmarkets.com / ICM WORLDWIDE Ltd
• www.itcfx.com / Investment Formula Corporation
• www.itnfx.com / International Traders Network FX
• www.justrader.com / MT Capital Partners
• www.motionforex.com / Motion Forex Ltd
• www.netotrade.com / Neto Trade Global Investment
• www.obroker.com / Landkey Enterprises Inc
• www.sunbirdfx.com / Sunbird Trading limited
• www.tradaxa.com / Sisma Capital Limited
• www.tradmaker.com / Trading Technologies Limited
• www.trader 369.com / IP International Service – AJ Browder

Financial intermediary offering or recommending investments must be on the list of financial institutions authorized to do business in France, as can be verified on the self www.regafi.fr.

The warning noted, that if an intermediary in question is not on the authorized lists, it was strongly recommend to not make use of the services, as such 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 per the official press release.

The news from the AMF, follows just weeks after it warned of some sixty-nine unauthorized binary options providers in a similar warning.

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