The RED list includes brokers that are soliciting or accepting funds from U.S. residents without CFTC registration.
The U.S. Commodity Futures Trading Commission (CFTC) today updated its caution list, the ‘RED List’, in which it warns the public against unauthorized FX and binary options firms that are illegally conducting financial services targeting the country’s residents. The CFTC added 71 new names to the List, bringing the total number of backlisted entities to over 110.
Short for ‘Registration Deficient List’, the RED list follows the example of other regulators abroad, such as the AMF (Autorité des marchés financiers) in France, which allows investors to identify unregistered foreign entities that may be engaged in illegal practices.
The U.S. regulator’s list includes forex and binary options brokers that appear to be soliciting and/or accepting funds from U.S. residents without having obtained CFTC registration, providing more protection and transparency for investors.
According to the CFTC, many of these foreign entities are acting in a capacity requiring them to be registered with the CFTC. Registration allows the agency to provide greater security and oversight of the industry by examining whether firms meet minimum financial standards as well as disclosure, reporting and recordkeeping requirements. However, the press release emphasized that registration is no guarantee against fraud or mismanagement by an unethical firm, although it does help bring a higher level of security and accountability to the industry.
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The following brands have been added to the RED List:
- 10Markets
- Eagle Gate
- Omega Options
- 1Billion Forex
- eXbino
- Option Giants
- 33Option
- Finpari
- Option King
- AAFX Trading
- FinPro Trading
- Options24hours
- Advanced Options
- Forex Ltd.
- Oracle Stone
- Allgo Trading
- Forex Ukraine
- Planet Option
- Anthony, John
- FX Moneyworld
- Price Markets Brokerage
- AOS Holding
- FXGM
- Profitable Forex Advisors
- ASK Options
- FXT Swiss
- Rbinary
- AXI Trader
- FXUmarkets
- Safe Options
- Azbinary
- GFM Trader
- Starling Capital
- Barkley Capital
- Glenridge Capital GMR
- Stichting WST Capital
- Bartle Investment Group
- Forex Goptions.com
- Tall Options
- BinaryRoom365
- Iforex
- Trades Capital
- Binex Markets
- Inside Option
- TradeThunder
- BitVC
- Instant Options
- TradeWiseFX
- BoursoPro
- Int’l Brokers Assn Mkts
- uTrader
- BoursoTrade
- GT Options
- Vision Binary
- Byrix Financial Investments
- Janus Options
- Weathika
- Capital Bank Markets
- London Binary Option
- WinOptions
- Capital Trade House
- Market Options
- Wynn Finance
- Cherry Trade
- MarketsWorld
- com
- MercerFX
- CT Option
- MFX Brokers
- Empire Options
- Morton Finance
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