CFTC adds 71 foreign forex, binary options brokers to RED warning list

CFTC adds 71 foreign forex, binary options brokers to RED warning list

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The US Commodity Futures Trading Commission (CFTC) has added 71 foreign forex and binary options to its RED list. The RED list was started in September 2015 and stands for “Registration Deficient”. Now it includes more than 100 foreign entities who have no license to operate on the US market, but have been soliciting US residents.

The majority of the new entries on the list are of binary options broker, most of them unregulated. Some of them, like uTrader, have already turned up on the warning lists of other regulators.

There are, however, some properly regulated forex brokers, like FXGM, which holds a license from the CySEC, or AxiTrader, which is regulated by Australia’s Securities and Investment Commission and UK’s FCA.

As per US legislation, though, all financial services providers operating in the US need to be registered and regulated by the relevant authorities. Besides, the CFTC notes that either way, registration is no guarantee against fraud, but does bring a higher level of security and accountability to the public.

Here are the new additions to CFTC’s RED List:

10Markets

Eagle Gate

Omega Options

1Billion Forex

eXbino

Option Giants

33Option

Finpari

Option King

AAFX Trading

FinPro Trading

Options24hours

Advanced Options

Forex Ltd.

Oracle Stone

Allgo Trading

Forex Ukraine

Planet Option

Anthony, John

FX Moneyworld

Price Markets Brokerage

AOS Holding

FXGM

Profitable Forex Advisors

ASK Options

FXT Swiss

Rbinary

AXI Trader

FXUmarkets

Safe Options

Azbinary

GFM Trader

Starling Capital

Barkley Capital

Glenridge Capital GMR

Stichting WST Capital

Bartle Investment Group

Forex Goptions.com

Tall Options

BinaryRoom365

Iforex

Trades Capital

Binex Markets

Inside Option

TradeThunder

BitVC

Instant Options

TradeWiseFX

BoursoPro

Int’l Brokers Assn Mkts

uTrader

BoursoTrade

GT Options

Vision Binary

Byrix Financial Investments

Janus Options

Weathika

Capital Bank Markets

London Binary Option

WinOptions

Capital Trade House

Market Options

Wynn Finance

Cherry Trade

MarketsWorld

Copyprofitshare.com

MercerFX

CT Option

MFX Brokers

Empire Options

Morton Finance

Financial regulation in the US is very strict and is enforced by the CFTC, the National Futures Association (NFA) and several other watchdogs and self-regulation organizations. The CFTC is particularly hard on foreign binary options brokers and imposes massive penalties for soliciting US citizens. The US law permits only trading in exchange-traded binary options.

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