France’s financial regulatory body, the Autorite des Marches Financiers (AMF), issued on Monday a list of forex brokers that operate within the country without being unauthorized to do so. Investors who place their funds with these entities put their money at increased risk.
Following is a list of forex brokers newly-added to the AMF warning list:
- SEP Global Ltd., fxsep.com
- Capital Markets, marketct.com
- ValtechFX Global Solutions Ltd., valtechfx.com
- City Bank CFD, citybankcfd.com
Our research showed that the website www.fxsep.com and www.citybankcfd.com are no longer functioning, while the rest do not provide information regarding authorization or licensing.
The AMF regularly issues warnings regarding fraudulent or non-authorized forex and binary options brokers. In addition, the regulator maintains a list of all licensed and authorized entities. Under the EU regulatory framework, brokers licensed by the relevant authority in any EU country are entitled to provide services in all countries of the European Economic Area (EEA). In most countries, however, they need to be registered with the local regulatory body.
The AMF, an independent public authority, is in charge of the supervision of the financial markets in France. It licenses financial service providers, sets industry rules, and monitors whether entities comply with them. The regulator makes sure French citizens receive adequate information and safeguards their investments in financial products.
We strongly advise you to only deal with regulated forex brokers, authorized by reputable regulatory bodies like CySec, FCA, and CFTC/NFA, among others.