CFTC adds 23 unregulated Forex and Binary Options brokers to RED list that illegally target US traders


As part of its ongoing efforts to help protect Americans from fraud, the U.S. Commodity Futures Trading Commission (CFTC) has announced the addition of 23 new names to the RED List (see below).

Started in September 2015, the CFTC RED List – standing for “Registration Deficient” – contains the names of unregistered foreign entities that the CFTC has reason to believe are illegally soliciting and accepting funds from US residents at a retail level for trading in foreign currency (forex) or binary options. These brokers are required to register with the CFTC but, in fact, are not registered.

These 23 new additions bring the total number of foreign brokers on the RED List to over 40.

cftcThe CFTC also reminded traders that registration is still no guarantee against fraud or mismanagement by an otherwise unscrupulous firm. However, it 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.

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 CFTC’s compilation of its RED List follows similar action taken by other governmental regulators such as in Canada, which have reason to believe that certain unregulated brokers are targeting traders in their jurisdiction.

The 23 foreign entities added to the RED List are:

  1. Banc de Options
  2. Barclays Broker
  3. BeeOptions
  4. Binary Book
  5. Binary Das
  6. Binary Int’l
  7. BTG Option
  8. Diamond Managed Forex
  9. Forex Broker Inc.
  10. Forex CBR
  11. Forex Investment Services
  12. Golden Tangent Holdings
  13. Ivory Options
  14. Land FX
  15. Lbinary
  16. NRG Binary
  17. Optionsxo
  18. Paam-Maam Forex Fund Management
  19. Profit Forex Corp
  20. RealForex.com
  21. Tallinex
  22. Titan Trade
  23. UK Options

The complete CFTC RED List can be found at: www.SmartCheck.gov/REDList.

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CFTC adds 23 unregulated Forex and Binary Options brokers to RED list that illegally target US traders

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