Do not invest more money than you can afford to lose.
France’s financial regulatory body, the Autorite des Marches Financiers (AMF), has included three new entities to its warning list for providing forex investment services in the country without being authorized, according to a regulatory statement published on Friday. The companies against which the regulator warned of, are Original Markets LTD., operating via www.bloomcapitalmarkets.com; UTC Invest, operating as www.utcinvest.com; and Marshall Advanced Innovation LTD. and Joshua Consulting LTD., trading as www.ksftrade.com.
The websites www.bloomcapitalmarkets.com and www.ksftrade.com seem to no longer be available. On the other hand, www.utcinvest.com is operational, but provides no data regarding regulation or authorization. UTC Invest is a brand that offers trading in forex, stocks, commodities, and contracts for difference (CFDs).
The AMF keeps registers with regulated and non-regulated financial service providers. The register is easily available to the public and can serve investors as a searchable database to check whether an entity is authorized in France or not.
Earlier this year, the AMF published data that indicated the amount of complains it received from investors against forex and binary option brokers has been constantly on the rise, reaching 1,656 in 2015 from 64 in 2011. In August, the regulator announced it is developing a bill that would prohibit the advertisement of risky instruments, including forex and binary options.
In the meantime, France is preparing itself to take over its wing some of the financial entities that are currently based and regulated in the UK. The AMF expects in the context of the Brexit vote many UK-licensed entities to seek to locate their business in other EU jurisdictions, such as France. For the purposes, the AMF has simplified and speeded up the licensing procedures for financial service providers licensed in the UK.
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 the AMF, CySec, FCA, and CFTC/NFA, among others.
