CFTC updates RED list with 22 unregistered foreign companies

The Commodity Futures Trading Commission added 22 unregistered foreign entities to its Registration Deficient List (RED list) as part of its ongoing effort to protect Americans from fraud. The US watchdog also launched a RED list website with new design to provide more information about the entities added in the list. The list now includes 168 entities since its launch in 2015.

The Commission adds firms to the RED list when they are not registered with the CFTC but appear to be involved in activities that require registration such as trading binary options, forex, etc.

The RED list is published and spread to financial industry partners, such as other regulators, consumer groups, industry participants, self-regulatory organizations, exchanges and industry associations.

The new design of the Red list webpage improves its effectiveness and its usability. Each of the entities listed there has a clickable link which redirects the user to the entity’s profile page. This page provides information the CFTC has gathered on the firm such as origin, the name of the company that owns and operates it, the type of products it offers, when the firm was added to the RED list and the risks involved in engaging with such entities.

Over 20 unregistered foreign companies added to CFTC RED list

The new additions to the RED list include:

  • Allegra Markets
  • IDB Traders/Baltic Concert LLP
  • Capital 245
  • MM Financial Experts
  • Coinexx
  • Omega Crypto
  • Crown Finance
  • Omega Capitals
  • EagleFX
  • Platin CFD
  • Easy Line Pro
  • Richmond FG
  • F1 Trade
  • Top Option 360
  • FX Dealer
  • Trade GF
  • Turnkey Forex
  • Global Capital Options
  • VIP Businesses
  • Grand Tradefx
  • Wellington INV/Bali Limited LTD

The CFTC together with the Securities and Exchange Commission have issued a Binary Options Consumer Alert to warn the public about fraudulent schemes that involve binary options and their trading platforms. The CFTC also issued several customer protection Fraud Advisories providing the warning signs of fraud, including a Forex Fraud Advisory.

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