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France's AMF Warns against 68 Binary Options Websites

AMF (Autorité des marchés financiers) – the French regulator responsible for the oversight of all financial markets, has just issued a warning against 68 websites providing binary options trading services. The main reason behind the warning is that the watchdog could not find any authorized brokers or other regulated businesses operating the websites in question. The AMF also stresses the aggressive marketing and advertising campaigns of the websites and advises French traders not to respond to the soliciting of companies without first getting acquainted with the nature of binary options as trading instruments and the risks associated with them. 


Below you can see the full list of websites that provide binary options services without proper authorization in France: *



The watchdog notes that the list is far from exhaustive and that it tends to change quickly: that is why it advises all traders to check whether a provider of any financial services is listed in the official register:


The warning against binary options brokers comes less than a month after AMF issued a similar warning against 23 unregulated Forex broker websites and less than half a year after a previous alert targeted at binary options trading websites by the same watchdog. 


You can see some familiar names in the list – 4xP, for example, became really notorious with investors failing to get their money back both on the binary options and Forex fronts. You may also recall iOption, which silently went under in the end of December 2013 and even CySEC, the Cypriot watchdog did not succeed to warn traders on time about it. There are also and, against which the Cypriot commission has also raised an alarm. 


We cannot deny that the regulatory developments around binary options are somewhat odd. Just a couple of years ago they were still outlaws anywhere in the world. In 2012, Cyprus started regulating them, in 2013 Malta followed suit and now the grip on these instruments is tighter than ever. Of course it's a good thing to warn investors and thus help them keep their money, but stifling a booming segment of online trading is not a nice thing.


You can read the full text of the warning by AMF here (in French). 


TAGS: france  france forex  france binary options  binary options brokers  binary options  regulation  france rules  amf  warning  binary options websites  4xp  traderxp  ioption 

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