French Regulators Add More 16 Unauthorized Forex Brokers to the Blacklist

France's two financial markets regulator, the Autorité des marchés financiers (AMF) and the Autorité de contrôle prudentiel et de résolution (ACPR), have added 16 unauthorized or illegal forex brokers to their blacklist, bringing the total number of forex websites blacklisted by French financial regulators to 49.

According to the watchdog, the blacklisted brokers have been providing professional investment services to clients in the country without authorization, which is a criminal offence. The AMF believes that these companies are not licensed to provide trading services in the country and are likely running scam operations.

In 2022, French financial regulators have added 49 forex investment websites to its warning list, a significant decrease compared with 61 blacklisted websites last year. In the category of crypto asset derivatives, the number of blacklisted websites was 2 this year, while the number reached 24 in 2021.

The following are the 16 forex websites newly added to the French watchdogs' blacklist:

www.1market.com/fr

www.24cryptoforextrading.net

bitictrade.com

boursecapital.net

www.cryptoneyx.io

fr.finaguide.com

lions-broker.com

www.multibankfx.com

fr.puprime.net

raisefx.com

www.t4trade.com

traderhouse.com

valutamarkets.com

www.vestapros.com

virtuscapital.world

www.silveriz.fr

The AMF said it had received multiple reports from victims of illegal websites using trading platforms masquerading as regulated "savings account" providers to lure customers into buying stocks of low value or high risk. The two regulators urged clients to check their register of authorized investment service providers and those of permitted intermediaries in the financial investment advisor or crowdfunding categories.

The regulators also advised the public to be wary of stocks recommended given on social media and messaging apps and not to invest blindly.