Every quarter, the AMF or Autorité des Marchés Financiers in France unveils a list of risky Forex brokers and Binary Options, which should be avoided at all costs. The last blacklist updated on 24 March 2016 still has a good number of operators to avoid, of which here is an overview
As Forex is the largest and most liquid market on the stock market, more and more brokers are opting for this branch in order to seduce. Thus, there is no shortage of new online brokers, and it must be said that the majority of them are not yet regulated. Some brokers have also been on the market for a long time, but use aggressive commercial techniques that do not comply with European regulations. Among these dubious operators are Activmarkets.com, Brokers500.com, Cfxmarkets.com, or Fxbtrade.com. Other names such as Tradmaker.com or Youtradefx.com also appear on this blacklist.
As a binary option
Since the binary option became popular in 2008, online scams have also increased significantly. This method of speculation remains the easiest to practice for beginners, who sometimes let themselves be seduced by the attractive offers and advertisements. As a result, new scam brokers are constantly emerging in this sector. Until the next update, the AMF’s blacklist includes 01broker.com, 50option.com, Abcbinaire.com, Binaryfxmarket.com, or Bossoptions.com, among others.
Always be careful!
Despite attractive bonuses and flexible trading conditions, some brokers are not always reliable. Trading scams are indeed a reality and nowadays, you have to be doubly careful not to get caught. In France, regulation by the AMF and ACPR Banque de France is the best guarantee for traders. They can also regularly consult the AMF’s blacklist to avoid scammers. The complete list is available directly on the institution’s website.