France’s financial regulatory body, the Autorite des Marches Financiers (AMF), has issued a warning notice against 10 websites that provide trading in binary options without being authorized. The newly-included websites are not licensed to provide financial services in France.
The latest additions to AMF’s warning list of non-regulated binary options brokers follows:
The French regulator maintains a list of entities authorized to offer financial services in the country. It also issues warning notices against those that are not authorized and keeps a register with entities that present a potential harm to investors. These are easily available to the public and can serve investors as a searchable database to check whether an entity is authorized in France or not.
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.
In September last year, the AMF banned the advertising of forex, binary options and contracts for difference (CFDs) with a leverage greater than 5:1. The new rules are included in the Sapin II law and refer to advertising to retail investors.
When engaging with unauthorized and non-regulated brokers traders are putting their investments at higher risk. We strongly advise you to only deal with regulated forex brokers, authorized by reputable regulatory bodies like CySec, FCA, and CFTC/NFA, among others.