CFTC adds 71 brokers to RED List illegally offering Forex and Binary Options trading


binary options warning

As part of the U.S. Commodity Futures Trading Commission’s (CFTC) ongoing efforts to help protect Americans from fraud, today the CFTC added 71 new names to the RED List.

These 71 new additions bring the total number of foreign entities on the RED List to over 110.

We would note that some of the companies listed (see full list below) are no longer operating. Quite a number of binary options brokers have shut down lately, under pressure from both regulators around the world as well as much-smarter and better informed retail traders, much warier of unregulated offshore brokers.

The CFTC RED List – standing for “Registration Deficient” was launched in September 2015 and supplemented in April 2016. The RED List contains the names of unregistered foreign entities that the CFTC has reason to believe are soliciting and accepting funds from U.S. residents at a retail level for, among other things, trading in binary options or foreign currency (forex) and who are required to register with the CFTC but, in fact, are not registered. The RED List can be found at: www.SmartCheck.gov/REDList.

Registration is no guarantee against fraud or mismanagement by an otherwise unscrupulous firm; however, registration does bring a higher level of security and accountability to the public. For example, registration enables the CFTC to examine whether firms meet minimum financial standards as well as disclosure, reporting, and record-keeping requirements under the Commodity Exchange Act.

The RED List works in conjunction with the CFTC’s SmartCheckSM campaign to help investors identify and protect themselves against illegal conduct.  The RED List also complements registration information available to the public on the National Futures Association website.

The CFTC publicizes the existence of the RED List to other government regulators, the media, consumer groups, industry participants, self-regulatory organizations, exchanges, and industry associations.

The 71 foreign entities added to the RED List are:

10MarketsEagle GateOmega Options
1Billion ForexeXbinoOption Giants
33OptionFinpariOption King
AAFX TradingFinPro TradingOptions24hours
Advanced OptionsForex Ltd.Oracle Stone
Allgo TradingForex UkrainePlanet Option
Anthony, JohnFX MoneyworldPrice Markets Brokerage
AOS HoldingFXGMProfitable Forex Advisors
ASK OptionsFXT SwissRbinary
AXI TraderFXUmarketsSafe Options
AzbinaryGFM TraderStarling Capital
Barkley CapitalGlenridge Capital GMRStichting WST Capital
Bartle Investment GroupForex Goptions.comTall Options
BinaryRoom365IforexTrades Capital
Binex MarketsInside OptionTradeThunder
BitVCInstant OptionsTradeWiseFX
BoursoProInt’l Brokers Assn MktsuTrader
BoursoTradeGT OptionsVision Binary
Byrix Financial InvestmentsJanus OptionsWeathika
Capital Bank MarketsLondon Binary OptionWinOptions
Capital Trade HouseMarket OptionsWynn Finance
Cherry TradeMarketsWorld
Copyprofitshare.comMercerFX
CT OptionMFX Brokers
Empire OptionsMorton Finance

The CFTC has issued a Consumer Alert to warn about fraudulent schemes involving binary options and their trading platforms. The Alert warns customers that the perpetrators of these unlawful schemes typically refuse to credit customer accounts, deny fund reimbursement, commit identity theft, and manipulate software to generate losing trades.

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CFTC adds 71 brokers to RED List illegally offering Forex and Binary Options trading

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