French Watchdog Warns Against Five More Unauthorised FX Firms

France’s financial market regulator, the Autorité des Marchés Financiers (AMF), today updated its list of websites that it identified as proposing investments in the markets of unregulated foreign Exchange without being authorized to operate in France.

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Five new names have been added to the watchdog's blacklist today. These are:

FINANCIKA (SHARP TRADING) LTD (www.financikatrade.com);

usurpation de GN INVEST AG (www.gninvest-ag.com);

INVESTING SECURE INTERNATIONAL LTD (www.investing-secure-international.com);

MRT TECHNOLOGY LIMITED (www.mrtmarkets.com); and

THRUST MARKETS (www.thrustmarkets.com).

Any financial intermediary offering or recommending investments must be on the list of financial institutions authorized to do business in France, according to the regulator's notice. It also recommends that investors consult its list of authorized investment service providers before choosing to work with any broker.

The AMF routinely issues this type of warning as it adds new websites that market to French clients to its list. These usually include both Forex and binary options firms.

In November the French parliament voted to ratify the ‘Sapin 2’ bill aiming to hand certain powers to the French Ministry of Finance in order to limit the advertisement of risky products.