Following Italy's ban of Cyprus-based binary options brokers, the Financial Markets Authority (FMA) and Prudential Supervisory Authority (ACP) market and bank regulators have banned seven more Forex trading websites from operating in France.
The list of unauthorized sites was published on April 8th and joins a growing number of sites made unavailable for use by interested investors. The first list was published on July 6th 2012 with thirteen sites. With the newest sites reported, the number now stands at twenty.
Included in the original list were the following sites: astonforex.com, bforex.com, finanzasforex.com, flameltrade.fr, forextrada.com, fxcast.com, gcitrading.com, ihforex.com, ikkotrader.com, instaforex.com, sunbirdfx.com and trader369.com. The additional seven sites are: cfxmarkets.com, fxfrance.fr, itnfx.com, justrader.com, obroker.com, netotrade.com and tradaxa.com.
French regulators have been warning traders for some time now that trading in Forex markets is a gamble and can lead to huge losses. The have repeatedly suggested that anyone interested in trading in the Forex markets should choose a broker from the list of authorized sites listed on the regulator's website, regafi.fr.