AMF Issues a Warning against Website Belonging to Omega Pro Ltd

On Thursday, the Autorité des Marchés Financiers (AMF) and Prudential Supervisory and Resolution Authority (ACPR) said that they had blacklisted a website belonging to Omega Pro Ltd.

According to the advisory, Businessempire.fr was added to the list by both authorities, as the website allegedly belongs to www.omegapro.world, which was already blacklisted in 2020. The aforementioned site offers Forex trading services without authorization, the AMF noted in the press release.

MLM-Style Offering

“Following numerous testimonials and reports from savers, the AMF and the ACPR had placed unauthorized sites on their FOREX’s blacklist of the trading platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term www.omegapro.world on August 6, 2020. However, the Overseas Emission Institute (IEOM), which acts as central bank in communities whose currency is the Pacific franc, has informed the two authorities of the existence [of] proactive canvassing by Omega Pro Ltd on the Polynesian territory. The company’s modus operandi described by the testimonies is similar to the aggressive practices of network marketing companies (MLM) selling trading training packs, already denounced by the AMF in June 2020,” the AMF stated.

Businessempire.fr claims to offer unrealistic gains of over 300% in 16 months, the AMF said, thanks to an automated trading service presented as a ‘safe haven’.

The authority adds: “The AMF points out that 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 is a risky market, on which individual investors can suffer heavy financial losses, for example through leveraged derivatives such as CFDs (contracts for difference), speculative financial instruments allowing them to bet on upward or downward variations of an index, stock, currency pair, etc., without owning it.”

As of press time, Omega Pro Ltd is not authorized to provide investment services in mainland France, overseas departments, or overseas territories. The authority previously issued a warning on 3 February about the unlicensed status of Omega Pro Ltd and asked people to exercise caution when dealing with this kind of company.