Autorité des marchés financiers (AMF), the French regulator responsible for the online trading industry, today issued a warning regarding www.optionbinaireamf.com. The regulator says the website is abusing its name and logo.
The website provides information and comparison services regarding a raft of binary options brokers, all of them regulated by CySEC – the Cypriot securities industry watchdog. The page is also very active in promoting the services of these brokers.
There is a huge logo of the French regulator on the front page and its name is included in the name of the website. AMF is concerned that this may mislead visitors of the website to believe that it is supportive of the content published and the brokers promoted.
The French regulator advises the public to stay away from “Option Binaire AMF” and stresses that any use of AMF’s logo and name that may be misleading is illegal.
AMF has regularly warned about the risks associated with online trading, including trading with binary options. The watchdog updated its “Black List” of unregulated binary options brokers, offering their services in France, in early March this year. The list currently features 189 names.
Another move the regulator has made to raise awareness about the dangers associated with online trading was a Mystery Shopping Campaign, which showed repeated difficulties for customers to withdraw their money from online trading companies. The bulk of problems came from Cypriot brokers.
To view the original text of the warning by AMF against www.optionbinaireamf.com, click here.