The US
derivatives watchdog has blacklisted 45 foreign
online trading platforms including CJSC Capital Com Bel, the Belarusian entity of multi-regulated broker Capital.com. The Commodity Futures Trading Commission
(CFTC) on Monday announced that it has added the entity and others to its Registration Deficient List (RED List).
The RED List, which was introduced in September 2015, list the names of ‘unregistered
foreign entities’ the regulator believes are targeting American investors and
traders without authorization to operate in the country. As of press time, Finance Magnates is yet to get a comment from Capital.com on the addition of one of its entities to the list.
Other platforms flagged by 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: CryptoBinaryTrade, CryptocurrencyBitcoinxtrade, CryptoFXMarket,
CryptoInvestments, CryptoLifeTrade, Crypto Prolite, CryptorateFX
Ltd., Elite Financial Group Ltd., Elite Financial Markets, and
ExtremeEarners.
The regulator
also added:
FastfxtCoin, Finance Trade Capital, Foretrade Mining, Forex Capital Gain, Forex
Cash Market, FxMetaTrust, Galaxy Stock Trade, PrimeFX, ProsperityFX and
Prosperity LLC, to the list.
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, the Director of Enforcement at CFTC, noted that the RED List names
entities “that have the potential to do irreparable financial harm to unsuspecting
Americans.” He, therefore, urged investors in the country “to check the RED List before they trade because
they may have little or no protections if they choose to trade with
unregistered firms that operate outside the U.S.”
“A firm is
added to the RED List when the CFTC determines, from investigative leads and
questions from the public, that it is not registered with the CFTC and appears
to be acting in a capacity that requires registration, such as trading binary
options, foreign currency (forex), or other products,” CFTC explained.
With the addition of the newly flagged 45 trading firms, CFTC has now added a total of 240 ‘unregistered foreign entities’ to the RED List. This is even as the regulator in July last year added 34 illegal forex and binary options platforms to the list. Meanwhile, CFTC in April sued 14 retail FX dealers and futures commission merchants for ‘fraudulently claiming’ to be registered with the agency.
Across other regions, regulators are also cracking down on illegal trading platforms operating in their jurisdictions. In the past week, the UK Financial Conduct Authority flagged 44 illegal trading platforms active within its borders, with New Zealand regulator blacklisting two on Monday.
Nasdaq to acquire Adenza; A16z’s London office; read today’s news nugget.
The US
derivatives watchdog has blacklisted 45 foreign
online trading platforms including CJSC Capital Com Bel, the Belarusian entity of multi-regulated broker Capital.com. The Commodity Futures Trading Commission
(CFTC) on Monday announced that it has added the entity and others to its Registration Deficient List (RED List).
The RED List, which was introduced in September 2015, list the names of ‘unregistered
foreign entities’ the regulator believes are targeting American investors and
traders without authorization to operate in the country. As of press time, Finance Magnates is yet to get a comment from Capital.com on the addition of one of its entities to the list.
Other platforms flagged by 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: CryptoBinaryTrade, CryptocurrencyBitcoinxtrade, CryptoFXMarket,
CryptoInvestments, CryptoLifeTrade, Crypto Prolite, CryptorateFX
Ltd., Elite Financial Group Ltd., Elite Financial Markets, and
ExtremeEarners.
The regulator
also added:
FastfxtCoin, Finance Trade Capital, Foretrade Mining, Forex Capital Gain, Forex
Cash Market, FxMetaTrust, Galaxy Stock Trade, PrimeFX, ProsperityFX and
Prosperity LLC, to the list.
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, the Director of Enforcement at CFTC, noted that the RED List names
entities “that have the potential to do irreparable financial harm to unsuspecting
Americans.” He, therefore, urged investors in the country “to check the RED List before they trade because
they may have little or no protections if they choose to trade with
unregistered firms that operate outside the U.S.”
“A firm is
added to the RED List when the CFTC determines, from investigative leads and
questions from the public, that it is not registered with the CFTC and appears
to be acting in a capacity that requires registration, such as trading binary
options, foreign currency (forex), or other products,” CFTC explained.
With the addition of the newly flagged 45 trading firms, CFTC has now added a total of 240 ‘unregistered foreign entities’ to the RED List. This is even as the regulator in July last year added 34 illegal forex and binary options platforms to the list. Meanwhile, CFTC in April sued 14 retail FX dealers and futures commission merchants for ‘fraudulently claiming’ to be registered with the agency.
Across other regions, regulators are also cracking down on illegal trading platforms operating in their jurisdictions. In the past week, the UK Financial Conduct Authority flagged 44 illegal trading platforms active within its borders, with New Zealand regulator blacklisting two on Monday.
Nasdaq to acquire Adenza; A16z’s London office; read today’s news nugget.
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- Source: https://www.financemagnates.com//forex/capitalcoms-belarusian-entity-named-in-cftcs-red-list/
