The AMF Has Warned the Public About These Brokers

The AMF has warned the public about the following brokers. It’s important to take regulator warnings seriously, particularly if they are from a regulator with the status of AMF. Online trading fraud is growing and researching brokers before opening an account and trusting them with their funds is crucial. That is why alerts and broker reviews are an essential part of researching financial services and keeping your money safe. 

Online trading scams are increasing at a faster rate that many authorities can crack down on them. The best way regulators can deal with the problem is warning the public and hope  they get the message. CryptoCoinTrace experts are aiding the effort to combat financial cyber crime by aggregating warnings by regulators worldwide and creating broker reviews to inform the public and assist them in making decisions about brokers. 

Consult this site frequently–we update this list at regular intervals. It’s best to avoid brokers mentioned in these warnings, but also to look at our broker reviews and understand what methods these fake financial services use. Also keep in mind that even if a broker doesn’t appear on this list, that doesn’t mean they are legitimate, so do your own due diligence.

What Does The Autorite Des Marches Financiers Do?

The AMF or the Autorite Des Marches Financiers is an independent public authority based in France. Its main responsibility is to assist in regulating financial markets in France and to oversee financial institutions. 

The AMF operates under the authority of the Markets in Financial Instruments Directive (MiFID), which is responsible for licensing qualified financial services after an intensive application process and their completion of a course to earn a license. The AMF audits its licensees at certain intervals and requires scrupulous reporting and documentation. 

6 Most Frequent Broker Red Flags

  • The AMF issues public warnings against brokers for the following reasons. These are the most common red flags–there may be other problems as well. 

    • Licensing issues
    • Misleading statements
    • Non-compliance with regulations
    • Proliferation of customer complaints
    • Clone broker
    • Legal action against the company

One of the most common reasons we see for the AMF flagging a broker is if they don’t have a license, hold an expired license or aren’t regulated at all. These brokers are not giving their customers any oversight and area clearly in violations of laws and regulations. 

The AMF operates under the authority of the Markets in Financial Instruments Directive (MiFID) is also concerned about brokers making misleading statements, specifically about the amount of returns, credentials and services they offer. Non-compliance with regulations is a broad category but is another frequent reason the AMF flags financial services. 

If the AMF receives a large number of complaints about a financial service, they are likely to warn the public. In addition, they are concerned about the problem of clone brokers. This happens when a broker takes a name that is similar to a licensed broker so they can steal the real broker’s clients. The AMF will also issue a warning if the broker faces legal actions, such as a cease and desist order.

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What You Should Do If You Have an Account with These Brokers?

If you currently hold an account with the following brokers, close it and demand an immediate withdrawal of all of your funds. If you do not receive a withdrawal from this broker contact CryptoCoinTrace experts. We consult with clients, advise them on claims and have the tools and methods to track down your funds. The sooner talk to us, the greater the chances of a successful claim!

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