French watchdog adds 5 brokers to its FX blacklist


The French regulator of the country’s financial industry markets, the Autorité des marchés financiers (AMF) is one of the most active and vocal watchdogs in the industry worldwide and it makes considerable efforts to protect the rights of French investors, repeatedly warning them against the grave risks associated with the retail trading of forex and binary options online.

As part of its efforts geared specifically to protect from unscrupulous brokers, the AMF has compiled and regularly updates a black-list containing the names of brokers that seem to be targeting French speaking investors without having the proper license and authorization from the AMF to do so.

During the latest updating of the said blacklist of unauthorized forex brokers, 5 new entries were added, bringing the total number of brokers featured on the list to avoid to 70. The 5 new entries added are: / Bancde Options / Gainsy Forex broker Company / GFS Securities Ltd / Original Markets Ltd / Globstate Assets Holdings Limited

The AMF is expected to continue its rigorous efforts to protect French investors, and will be particularly vigilant of shielding them from becoming the target of fraudulent firms. Most such firms are not actually located in French territory, but rather in several overseas locations and jurisdictions, mainly outside the EU itself, however they are trying to lure French-speaking clients through having their websites in the French language and offering French-speaking customer support staff.