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Dutch financial regulator fines unregulated broker FPlus Trading

Feb 28 2019
By
Jonathan Smith ,

 

The Dutch Authority for the Financial Markets (AFM) issued an official statement on Thursday, informing the public that it shall fine unregulated brokerage FPlus Trading.

 

The Dutch regulator imposed an order for incremental penalty payments on the broker on the 12th of February, because the FPlus Trading’s website (https://fplus.ai) wrongfully states that the company holds an AFM license.

 

We checked the broker’s website and the false claims of regulation are still in place today, more than two weeks after AFM’s order was issued.  In its notice the regulator also stated that FPlus Trading should pay a penalty amounting to €5,000 for each calendar day it fails to comply with the order, subject to a maximum of €50,000.

 

Apart from the false claims for regulation, FPlus Trading actually seems to offer trading in binary options, which is banned across the European Union since July, 2018. Furthermore, the broker provides no information on any of its trading conditions, nor offers access to a trading platform.

 

The Dutch regulatory agency AFM (Autoriteit Financielle Markten) requires full transparency on the part of the licensed financial services providers and keeps a register on its official website where anyone interested may quickly check up whether a particular company is listed.

 

Below, you may find our list of recommended brokers, which are legally operating in the Netherlands.

 

 

>> Check out some of the best Dutch Forex brokers <<

 

 

TAGS: AFM  FPlus Trading  fine  warning  Netherlands  scam  binary options 
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia, Cyprus ASIC MT4, MT5,
IRESSTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

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