The Autorité des Marchés Financiers (AMF), the French financial regulatory body, has unveiled a new list of forex websites not authorized to carry out business in the country.
The AMF recommends traders not to use services of such websites because they are in breach of the applicable legislation.
Forex websites from warning list
The new websites which were recently identified and put on the list are:
– www.admiralmarketsltd.com / Admiral Markets Global Solutions Ltd
– www.fm-fx.com / FM Marketing Ltd
– www.goprofinance.com / GoProBank
– www.trade-24.com / Trade24 Global Ltd
The full list of unauthorized sites is available on the regulator’s website. The AMF emphasized that these domains may change very quickly and that the list is not meant to be exhaustive.
Clone of Admiral Markets
The regulator also warned investors about a possible clone which pretends to be Admiral Markets.
By visiting the clone firm’s website, www.admiralmarketsltd.com, it is easy to notice that it is attempting to mislead investors that it is offering a legal product by using details of an authorised company operating under the name Admiral Markets (UK) Ltd.
Founded in 2001, Admiral Markets is authorized and regulated by te Financial Conduct Authority (FCA) and is located in London.
Admiral Markets (UK) Ltd is also allowed to provide cross border services across the EU / EEA under European passport rights.
Cooperation between AMF and Signal Spam
The Autorité des Marchés Financiers (AMF) is in a constant effort to offer better protection for investors and one such initiative is the recent partnership agreement with Signal Spam, a non-profit association managed by public authorities, corporations and industry representatives.
The agreement signatories are Benoît de Juvigny, Secretary General of the AMF, and Louis Rouxel, Chairman of Signal Spam.
Under the terms of the agreement, Signal Spam will provide the AMF with every information arising from internet user reports on email frauds and scams concerning financial products.