Investment scams: Forex, cryptocurrencies … the list of banned sites grows

Inevitably, the blacklists of sites that pose a risk of investment scams continue to grow. While the Financial Markets Authority (AMF) and the Prudential Control and Resolution Authority (ACPR) reported an explosion of scams in 2020, with 1,200 new platforms blacklisted last year, the stock exchange and insurance gendarmes still posted once an alert on new actors offering investments to individuals without being authorized to do so. Among these recently identified sites, 20 allow trading on the unregulated currency market, Forex, and 11 on derivative products whose underlying is cryptocurrency. All these platforms are therefore a must to avoid because, following any investment proposal, you expose yourself to very heavy capital losses, or even to lose the entire investment.

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Here, in detail, are the names of the 20 banned sites operating in Forex:

  • www.24trading.co
  • www.amegafx.com/en
  • www.app-trader.biz
  • www.astrohorizon.com
  • www.btcusdtbank.com
  • www.capitalpro-inv.com
  • www.dmadirectab.com
  • www.eufm.eu
  • www.everestbtc.com
  • www.exfinances.com
  • it.investigram.com
  • www.fxcm-group.io
  • www.lplcapital.eu
  • www.mangroupfx.com
  • www.marginelite.com
  • www.primexbt.com
  • www.puprime.com
  • www.thebestrader.io
  • www.tradeviewforex.com
  • www.ui-group.com

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Here is also the identity of the 11 platforms that offer derivatives on cryptocurrencies without being authorized to do so:

  • www.aroxcapital.com
  • www.bitcoin-champion.com
  • www.bitcoinera.app
  • www.btcswing.com
  • www.cmccapital.net
  • www.ctxholdings.com
  • www.lhk-group.com
  • www.newcfds.com
  • secureailywealth.com/bitcoinpro/
  • secureailywealth.com/the-bitcoin-era/
  • www.solidinvest.co

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Of course, the MFA and ACPR blacklists are not limited to these new members. To check that your broker does not put you at risk of fraud, go to these complete lists, available on the website of the Assurance banque épargne Info service, by clicking on “Your steps” and then on “Protect yourself from scams”. “Please note that these lists are updated regularly but are not intended to be complete as new unauthorized players appear regularly,” warn the MFA and ACPR in their joint press release.

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More generally, before depositing your money on an online platform, check that it is authorized to operate on the website of the Register of Financial Agents (Regafi) and of the Organization for the Single Register of Insurance, Banking and Financial Intermediaries (Orias ). “If the person does not appear in either of these last two lists, we strongly urge you not to respond to his requests because they violate the applicable legislation and are not required to comply with the basic rules of data protection. investors, good management of information or complaints ”, warn the regulators. And the losses can be colossal for swindled investors. In 2020 they had an average of 40,000 euros. And sometimes they reach much higher amounts. A great reason to be on guard.

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