In 2022, 28 illegal FX platforms and one cryptocurrency platform were added.
Hundreds more unlawful sites providing forex and crypto derivatives services have been added to the list.
Tuesday, the AMF and ACPR produced a warning list that contained 20 illegal forex trading websites. The AMF and ACPR are the two government agencies in charge of overseeing financial markets.
Altofx.com/en, europatradecapital.com/fr/, en.brokeragea.com, en.foxane.com, en.xpoken.com, honorfx.com/en, tntroyal.com, www.axeprogroup.com, www.businessempire.fr, www.finanbelt.com/fr, www.mergers-capital.com, www.prime online
Aside from unlicensed forex trading platforms, the list also includes other illicit derivatives service providers, such as cryptocurrency, that are operating illegally in the nation.
In the second quarter of the current year, authorities found no unlawful crypto trading sites. There have been 28 forex trading sites and a crypto trading platform on the blacklist since the beginning of 2022.
The blacklist, which is open to the public, now includes about 300 unlicensed forex trading sites and around 150 illicit crypto derivatives. It also contains hundreds of illicit binary options sites as well as unlicensed platforms that provide other financial services.
French authorities, on the other hand, warned that new unlicensed and illicit financial service platforms often spring up, making their blacklist obsolete and ineffective. Instead, they recommended traders consult the list of approved sites.
Other European agencies, meanwhile, are carefully monitoring the sector to weed out unlawful sites. There are seven names on the Cypriot financial market regulator's list that offer counterparty trading services, mostly in currencies and virtual currencies.
Check out all of the aforementioned banned brokers on the WikiFX dealer page by typing their names into the search box.
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