France’s AMF adds four offshore FX brokers to its warning list
French financial regulatory body AMF added a number of offshore retail FX and CFD brokers to its warning list of unauthorized entities and websites which seem to be targeting France-based retail traders.
The new firms / websites added to the AMF list include:
- Fortis Capital Managers, at website fortiscapitalmanagers.com
- Wave to Markets, at wavetomarkets.com
- Investisafe, at investisafe.com, and
- Bright Finance, at www.brightfinance.co
Warnings such as these made by the AMF as well as its counterparts in other European countries (FCA, CONSOB, MFSA, CySEC….) continue to be part of the battle of regulators to keep offshore brokers out of Europe.
There has been an uptick in the number and scope of offshore brokers targeting EU and UK traders in the past two years, after regulations were out in place in 2018 as recommended by ESMA to limit the amount of leverage retail traders could be offered, and also outlawing practices such as paying “Deposit Bonus” inducements to traders.