The US Commodity Futures Trading Commission’s (CFTC) has added 23 companies to its Registration Deficient or RED list.
The RED list is made up of unregistered foreign entities that the CFTC believes are soliciting and accepting funds from US residents at a retail level for, among other things, trading in foreign currency (forex) or binary options, and who are required to register with the CFTC but, in fact, are not registered.
These 23 new additions bring the total number of foreign entities on the RED List to over 40.
Registration is no guarantee against fraud or mismanagement by an otherwise unscrupulous firm; however, it does bring a higher level of security and accountability to the public. For example, registration enables the CFTC to examine whether firms meet minimum financial standards as well as disclosure, reporting, and record-keeping requirements.
The RED list complements registration information available on the National Futures Association website. The CFTC publicises the existence of the RED list to other government regulators, the media, consumer groups, industry participants, self-regulatory organisations, exchanges, and industry associations.
The 23 foreign entities added to the RED List are:
Banc de Options
Barclays Broker
BeeOptions
Binary Book
Binary Das
Binary Int'l
BTG Option
Diamond Managed Forex
Forex Broker Inc.
Forex CBR
Forex Investment Services
Golden Tangent Holdings
Ivory Options
Land FX
Lbinary
NRG Binary
Optionsxo
Paam-Maam Forex Fund Management
Profit Forex Corp
RealForex.com
Tallinex
Titan Trade
UK Options
