The AMF Has Flagged These Brokers. What This Means for You
If done properly, online trading can be a useful tool for increasing your savings. This entails exercising caution when selecting brokers to engage with and thoroughly investigating brokers prior to creating an account.
Without a license, there is no regulator in place to keep an eye on the broker and guarantee their actions, and it will be challenging to pursue legal action if you have lost money with them
At Broker Complaint Registry, we compile regulatory alerts and conduct in-depth investigations into the issues that each broker is facing. We compile reviews from the world’s leading regulators into a single location for broker research, and we update these reviews on a regular basis.
Monitoring the market and alerting the public to brokers who are operating without a license or who are involved in unethical or occasionally illegal activity is one of the regulators’ most essential roles. We have compiled and are always updating this list of brokers to protect you from phony and dishonest trading services and to educate you about the realities of broker scams.
About the AMF
Located in France, the Autorite Des Marches Financiers, or AMF, is a separate public body. They were founded in 2003 with the intention of:
- safeguarding investments and savings in financial services and products
- Provide information about financial services
- Maintain and regulate financial markets
The AMF is mandated by the Markets in Financial Instruments Directive (MiFID) and works with brokers who meet specific requirements or complete a course in order to grant licenses. The AMF inspects its licensed brokers on a regular basis to make sure they are adhering to regulations and fulfilling reporting obligations.
Like other authorities, the AMF alerts the public when brokers and financial services break the law or lack a license.
Why Did the AMF Flag These Brokers?
Why Were These Brokers Tagged by the AMF?:
- No license
- Non-Compliance with Regulations
- Unsupported claims
- Customer Complaints
- License revocation
- Clone brokers
Although not all of the problems with these brokers are included here, these are the main ones for which AMF may alert the public.
If an unlicensed broker works with clients in an area where it is not authorized to operate, the AMF may report them. These clients are frequently found in France and other nations under AMF regulation. The broker does not have a license to deal with French clients, even if they pretend to be French or have a French base of business. Regulation non-compliance can relate to a number of issues, such as breaking the laws governing European and French brokers.
The AMF has the right to denounce an unlicensed broker if it deals with customers in a region where it is not permitted to do business. These clientele are commonly located in France and other countries governed by the AMF. Even if the broker poses as French or has a French company base, they are not authorized to interact with French clients. One of the many problems associated with non-compliance with regulations is breaching the laws governing brokers in France and Europe.