French Watchdogs Warn Against New Websites

Luckily for us, it isn’t the only the FCA that speaks out against potentially malicious companies, preying on the unaware and vulnerable investors. The dual regulatory bodies of France, Autorité de Contrôle Prudentiel et de Résolution (or ACPR) and Autorité des Marchés Financiers (or AMF) has been dealing with unregulated providers and warn investors of platforms that do not possess the necessary permission to be conducting business.

On Tuesday, a warning has been issued for by the two behemoths of France’s regulatory bodies against more than a dozen websites, advising people against working with them for the time being, as it would pose a high risk to the safety of their funds.

Specifically speaking, the two authorities had warned the public against the following platforms:

www.bforinvest.com (Domain age: 9 months)

www.boxinvesting.com (Domain age: 1.5+ years)

www.btcoinpro.com (Domain age: the website has been taken down)

www.infinitrade.com (Domain age: 17+ years)

www.libra-maximizer.com/fr (Domain age: 9 months)

www.lotsfx.com (Domain age: 1.5+ years)

www.man-investments.com (Domain age: 6 months)

www.northern-lion.com (Domain age: the website has been taken down)

www.tcotrade.com (Domain age: 1 year)

www.triton-online.net (Domain age: 1 month)

www.uniglobemarkets.com (Domain age: 5+ years)

www.uniontradecenter.com (Domain age: the website has been taken down)

www.securebitgains.com/bitcoinera/ (Domain age: 4 months)

www.secureriches.com/bitcoinevolution/ (Domain age: 4 months)

www.secureriches.com/bitcointraderc/ (Domain age: 4 months)

www.secureriches.com/bitcoin-revolutuion/ (Domain age: 4 months)

www.wallet-secur.com (Domain age: 10 months)

The report of new websites added to the list had been kept short as their official website contains the full, comprehensive version. These warnings came as the two firms are looking to regulate activities in the cryptocurrency field to increase market integrity and investor protection.

As it currently stands, financial exchange require an AMF registration, as well as a certification granted by the French regulatory body. This is to reduce financial misconduct in the field, as well as reduce market abuse and they go out of their way to recommend traders to invest only in authorized firms.