The Autorité des Marchés Financiers (AMF) , which is the French financial markets regulator is indeed one of the most vocal and active watchdogs when it comes to protecting consumers and traders from unscrupulous financial services firm. The AMF regularly publishes warnings and advice on the risks of financial trading and it has even undertaken a very effective mystery shopper survey, the results of which we had published in the past.
Within the framework of its activities, the AMF regularly updates and publishes its so called “black list”, which contains the names of websites offering binary options trading, for which no authorised investment services provider could be clearly identified, urging investors to avoid such entities.
What is surprising this time round, is the fact that the list published on 25 September 2015, although not exhaustive as the regulator remarks, in fact contains fewer names than its previous version. More specifically, the updated list includes 244 entries, as opposed to 247 which were contained in the previous list. This means that the regulator has actually removed some firms and it could be an indication that the firms in question have since straightened up their act and they should no longer be warned against.
This could be seen as a positive development, indicating that naming and shaming binary options firms may well be an effective tool to force them to comply and abide by industry rules and regulations, resulting in a safer investment environment for traders, which is of paramount importance given the simplicity and thus the popularity of online retail binary options trading which renders it accessible to people of little or no previous experience with trading, who are more vulnerable to scams.
George Milios is the founder of onlineforextrading.net, the binary options and forex news portal which is dedicated to providing you with all the information you need to successfully trade.