Scope: Only markets where authorities took public action this quarter (warnings, blacklists, court steps, or site blocks) tied to FX/CFD-style online trading or closely related schemes. Each item cites an official or regulator-verified source.
Europe
United Kingdom (FCA)
- Court step on illegal promotions: Three “finfluencers” made a first court appearance over alleged unlawful financial promotions to retail. The case highlights strict rules on social-media marketing of high-risk products. FCA
Italy (CONSOB)
- Website blackouts: CONSOB ordered ISPs to block nine unauthorized investment sites, a tool Italy uses often against unlicensed FX/CFD operators. Consob+1
Spain (CNMV)
- Scam pushed via WhatsApp: CNMV warned the public about bancorpspain.com, promoted in WhatsApp groups—part of its running list of unregistered entities. CNMV+1
France (AMF)
- Blacklist update (Forex): The AMF added finprofm.com to its unauthorized list, reminding investors to check authorization before trading leveraged products. AMF France+1
Germany (BaFin)
- Fresh warnings: BaFin issued September consumer alerts on unauthorized platforms and identity-theft “clones” that solicit Germans for trading schemes. BaFin+1
Belgium (FSMA)
- “New wave” alert: FSMA warned about a new wave of fraudulent trading platforms, urging caution with slick social-media ads. News & warnings | FSMA+1
Ireland (Central Bank of Ireland)
- Multiple September warnings: Notices named EU Rates Compare, Finance Advisory AG, and Mobatrade as unauthorized. These often mimic broker comparison sites. Central Bank of Ireland+3Central Bank of Ireland+3Central Bank of Ireland+3
Netherlands (AFM)
- Boiler-room alerts: AFM warned on Eurofingo, Digital ForestressHub, and Aiglon Wealth—cold-calling scams that push high-risk “investments.” Finanstilsynet+1
Middle East & North Africa
United Arab Emirates (SCA)
- Impersonation and unlicensed operator warnings: SCA warned about firms impersonating licensed companies and about Inefex operating without a licence; it urged investors to check the SCA register. sca.gov.ae+1
Egypt (FRA)
- Blacklist push: FRA publicized a blacklist of firms and social-media pages running illegal financial activity and pointed investors to its Alerts portal. Amwal Al Ghad
Sub-Saharan Africa
Ghana (SEC)
- Investment scam alert: SEC Ghana issued a national Scam Alert on the rise of fraudulent schemes targeting locals online. sec.gov.gh
Nigeria (SEC)
- Illegal operator named: SEC Nigeria issued an Illegal Operator Alert against Pocket Option, describing typical Ponzi-style red flags. SEC Nigeria+1
South Africa (FSCA)
- Impersonation of a licensed broker: FSCA warned that scammers impersonated iFX Brokers and its CEO to solicit FX/CFD investments via look-alike sites and Telegram. FSCA
Asia-Pacific
Hong Kong (SFC)
- New “suspicious platform” listing: SFC added Exolarum to its Investor Alert List of suspicious virtual-asset trading platforms, noting fake claims about location and licensing. (These often market leveraged “FX/crypto” to retail.) SFC+1
Malaysia (Securities Commission Malaysia)
- Investor Alert updates: SC Malaysia added names including Igni Trader on 23 Sep, with further additions on 29 Sep. Securities Commission Malaysia+1
Americas
United States (CFTC)
- Court orders in fraud cases:
- $3.4m judgment against a New York forex-fraud defendant (Aug 12). CFTC+1
- Systematic Alpha case: court ordered >$2.8m in relief (Sep 17). CFTC
- EminiFX: CFTC moved for a permanent injunction and civil penalty (Sep 25 filing). FX News Group
Canada (CIRO)
- False-registration alerts: CIRO warned about uTrader (Sep 26) and Horbitts (Sep 30) for falsely claiming CIRO status and misusing logos and addresses. CIPF+1
Chile (CMF)
- Series of alerts naming unregulated platforms: CMF listed multiple non-registered platforms (e.g., VenturyFX, TradeEU Global) in August notices; urged checks under Chile’s Fintec Law framework. CMF Chile+1
What to do next
Before funding any account, verify the firm’s authorization with your national regulator. Use our FX/CFD Regulators directory to find the right register, and see our Methodology for how we vet sources. If you need a starting point for research, check our Preferred Brokers.
- Report suspicious platforms to your regulator’s consumer helpdesk. Include screenshots, emails, and payment receipts.
- Search both the warning list and the authorized firms register by legal entity name, license number, and domains—not just the brand.
- Be cautious of “guaranteed returns,” celebrity endorsements, and pressure to move chats to WhatsApp/Telegram.
Verify authorization via our FX/CFD Regulators directory. Learn how we source and verify updates in our Methodology. New to broker safety? Start with our Education hub or see Preferred Brokers.
FAQ: Regulator Warnings & Blacklists
Are all brands on a warning list automatically scams?
No. A warning means a regulator found issues such as lack of authorization, impersonation, or deceptive promotions. Treat it as a serious red flag and verify the firm’s legal status on the official register.
How should I verify if a broker is authorized?
Search the regulator’s public register by legal name and license number (not just the marketing brand). Cross-check domains, addresses, and contact details listed on the register.
Do social-media “finfluencers” need authorization?
In many markets, financial promotions to retail must follow strict rules. If in doubt, assume the content is a promotion and verify whether a licensed entity is responsible for it.
What if a site is blocked by my ISP?
Some regulators order ISP blocks against unauthorized sites. Avoid workarounds; blocking is usually a strong signal to stay away.
