The U.S. Commodity Futures Trading Commission (CFTC) announced today the addition of 71 foreign entities to its “Registration Deficient” (RED) List, bringing the total number of listed companies to over 110. The RED List, first launched in September 2015 and supplemented in April 2016, identifies unregistered firms believed to be illegally soliciting U.S. residents to trade binary options and foreign currency (forex).
The CFTC created the RED List as part of its ongoing efforts to protect American investors from fraud. Entities on the list are suspected of accepting funds from U.S. retail investors without being properly registered with the agency, a requirement under the Commodity Exchange Act. While registration doesn’t guarantee against misconduct, it does enforce minimum financial standards, disclosure requirements, and recordkeeping practices.
The newly added entities include 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, MarketsWorld, Copyprofitshare.com, MercerFX, CT Option, MFX Brokers, Empire Options, and Morton Finance.
The CFTC publicizes the RED List to various stakeholders including other government regulators, media outlets, consumer groups, and industry associations. The agency also operates the SmartCheck campaign, and encourages investors to consult the National Futures Association website (http://www.nfa.futures.org) for additional registration information. The CFTC has also issued a Consumer Alert warning about fraudulent binary options schemes, noting that perpetrators often refuse to credit accounts or reimburse funds.
Erica Bodin, Michelle Bougas, Hannah Huynh, and Rick Glaser of the CFTC staff were responsible for compiling the RED List.
Source: CFTC.gov
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