Binary-Options Scammers Targeting Investors For Reload Schemes And May Be Offering Bogus Compensation Funds, Quebec Authority Says
UPDATED 10:08 A.M. EDT U.S.A. Binary-options scammers may be using the names of government agencies and copying material from government websites in bids to steer people to reload schemes, Quebec’s securities regulator says.
In a new warning, the Autorité des marchés financiers (AMF) is cautioning investors to be wary of plowing money into online schemes operated by unregistered foreign companies.
Reload schemes typically follow in the wake of collapsed or missing schemes and are designed to fleece marks all over again. Victims chasing losses from an initial scheme end up compounding their losses through second (and often subsequent) schemes.
“The AMF is particularly concerned about schemes that specifically solicit investors who have lost money or who have been unable to recover their money after investing via unauthorized on-line trading platforms in the past few months,” the agency says. “In some cases, callers even claim that they have been mandated by a regulator, such as the AMF, to help investors recoup a specific amount of the money recently lost by trading on an unregistered platform.
“The AMF also recently became aware that material from its website had been copied by a company claiming to be mandated by a foreign regulator to administer a compensation fund. This company’s website is no longer available.”
Investing through unauthorized trading platforms is “very risky and could result in difficulty recovering money and even identity theft,” AMF says. “In addition, these losses cannot be covered by the financial services compensation fund, as the transactions were carried out with companies not registered with the AMF.”
Updated List Of Websites Not Authorized In Quebec To Offer Investment Products And Services
NOTE: Names that appear in bold are the newest platforms AMF deems suspicious.
- www.5markets.com
- www.247binary.com
- www.777binary.com
- www.2251ws.com
- www.anyoption.com
- www.askobid.com
- www.avafx.com
- www.AvaOption.com
- www.avatrade.ca
- www.avatrade.com
- www.bancdebinary.com
- www.bforex.com
- www.binareo.com
- www.etoro.com
- www.financial-advice.com
- www.finexo.com
- www.fioptions.com
- www.forextime.com
- www.forextrada.com
- www.frxbanque.com
- www.fxlite.com
- www.fxntrade.com
- www.fxobank.com
- www.gdbrokers.com
- www.gfcmarkets.com
- www.gmtinvest.com
- www.goforex.com
- www.gtoptions.com
- www.4xp.com
- www.aaafx.com
- www.accentforex.com
- www.amberoptions.com
- www.icmtrading.com
- www.iforex.com
- www.ilq.com.vn
- www.leaderoption.com
- www.liteforex.org
- www.lite-forex.com
- www.markets.com
- www.netotrade.com
- www.nrgbinary.com
- www.onetwotrade.com
- www.plus500.com
- www.PrestigeBanq.com
- www.stockpair.com
- www.strongoptions.com
- www.sycamoreoptions.com
- www.tradersking.com
- www.traderush.com
- www.triumphoption.com
- www.ufxmarkets.com
- www.vaultoptions.com
- www.xm.com
- www.youtradefx.com
- www.ytfxaffiliates.com
Read the June 23, 2015, AMF warning.
