The US derivatives watchdog has blacklisted 45 foreign online trading platforms, including CJSC Capital Com Bel, the Belarusian arm of multi-regulated broker Capital.com. The Commodity Futures Trading Commission (CFTC) on Monday announcement that it has added the entity and others to its insufficient records list (RED list).
The RED list, which was introduced in September 2015, lists the names of “unregistered foreign entities” that the regulator says target US investors and traders without permission to operate in the country. At the time of going to press, finance tycoons has not yet received comment from Capital.com on adding any of its entities to the list.
Other platforms flagged by the CFTC and added to the RED list include 24OptionForex, 24OptionForex Investment Group, AlvaroFxPro, BBT Capital Limited, BBT Forex, Binance FX Trading, Binary Option Trades, CapitalInvestOption, CedarFX, Cedar LLC, Coingate ForexPro, Crypto Banxa Pro Trade and CryptoBanxaTrade.
Also included are: CryptoBinaryTrade, CryptocurrencyBitcoinxtrade, CryptoFXMarket, CryptoInvestments, CryptoLifeTrade, Crypto Prolite, CryptorateFX Ltd., Elite Financial Group Ltd., Elite Financial Markets and ExtremeEarners.
The regulator also added to the list: FastfxtCoin, Finance Trade Capital, Foretrade Mining, Forex Capital Gain, Forex Cash Market, FxMetaTrust, Galaxy Stock Trade, PrimeFX, ProsperityFX and Prosperity LLC.
Others included in the list are: Quick FX Trade, Ronghui Group, Safe Side Trading Ltd, SmartBitOption, Smart Bit Options, Smart Forex Broker, Smpfxtrade, Standard Crypto Trading, TradersOption, True Forex Funds and Unlimited Forex Goals.
CFTC warns US traders against platforms
Ian McGinley, director of enforcement at the CFTC, noted that the RED List names entities “that have the potential to cause irreparable financial harm to unsuspecting Americans.” He therefore urged investors in the country “to check the RED list before trading, as they may have little or no protections if they choose to trade with unregistered companies that operate outside of the United States.”
“A company is added to the RED list when the CFTC determines, from investigative leads and public questions, that it is not registered with the CFTC and appears to be acting in a capacity that requires registration, such as trading binary options, trading foreign currencies (forex) or other commodities,” the CFTC explained.
With the addition of the 45 newly reported business companies, the CFTC has now added a total of 240 “unregistered foreign entities” to the RED list. This is even when the regulator in July last year added 34 illegal forex and binary options platforms to the list. Meanwhile, the CFTC sued 14 currency dealers and futures commission dealers in April for “fraudulently claiming” to be registered with the agency.
In other regions, regulators are also cracking down on illegal trading platforms operating in their jurisdictions. Last week, the UK’s Financial Conduct Authority flagged 44 illegal trading platforms active within its borders, with the New Zealand regulator blacklisting two on Monday.
Nasdaq to acquire Adenza; the London office of A16z; read today’s news nugget.
The US derivatives watchdog has blacklisted 45 foreign online trading platforms, including CJSC Capital Com Bel, the Belarusian arm of multi-regulated broker Capital.com. The Commodity Futures Trading Commission (CFTC) on Monday announcement that it has added the entity and others to its insufficient records list (RED list).
The RED list, which was introduced in September 2015, lists the names of “unregistered foreign entities” that the regulator says target US investors and traders without permission to operate in the country. At the time of going to press, finance tycoons has not yet received comment from Capital.com on adding any of its entities to the list.
Other platforms flagged by the CFTC and added to the RED list include 24OptionForex, 24OptionForex Investment Group, AlvaroFxPro, BBT Capital Limited, BBT Forex, Binance FX Trading, Binary Option Trades, CapitalInvestOption, CedarFX, Cedar LLC, Coingate ForexPro, Crypto Banxa Pro Trade and CryptoBanxaTrade.
Also included are: CryptoBinaryTrade, CryptocurrencyBitcoinxtrade, CryptoFXMarket, CryptoInvestments, CryptoLifeTrade, Crypto Prolite, CryptorateFX Ltd., Elite Financial Group Ltd., Elite Financial Markets and ExtremeEarners.
The regulator also added to the list: FastfxtCoin, Finance Trade Capital, Foretrade Mining, Forex Capital Gain, Forex Cash Market, FxMetaTrust, Galaxy Stock Trade, PrimeFX, ProsperityFX and Prosperity LLC.
Others included in the list are: Quick FX Trade, Ronghui Group, Safe Side Trading Ltd, SmartBitOption, Smart Bit Options, Smart Forex Broker, Smpfxtrade, Standard Crypto Trading, TradersOption, True Forex Funds and Unlimited Forex Goals.
CFTC warns US traders against platforms
Ian McGinley, director of enforcement at the CFTC, noted that the RED List names entities “that have the potential to cause irreparable financial harm to unsuspecting Americans.” He therefore urged investors in the country “to check the RED list before trading, as they may have little or no protections if they choose to trade with unregistered companies that operate outside the United States.”
“A company is added to the RED list when the CFTC determines, from investigative leads and public questions, that it is not registered with the CFTC and appears to be acting in a capacity that requires registration, such as trading binary options, trading foreign currencies (forex) or other commodities,” the CFTC explained.
With the addition of the 45 newly reported business companies, the CFTC has now added a total of 240 “unregistered foreign entities” to the RED list. This is even when the regulator in July last year added 34 illegal forex and binary options platforms to the list. Meanwhile, the CFTC sued 14 currency dealers and futures commission dealers in April for “fraudulently claiming” to be registered with the agency.
In other regions, regulators are also cracking down on illegal trading platforms operating in their jurisdictions. Last week, the UK’s Financial Conduct Authority flagged 44 illegal trading platforms active within its borders, with the New Zealand regulator blacklisting two on Monday.
Nasdaq to acquire Adenza; the London office of A16z; read today’s news nugget.
