Today the CFTC, the United States regulator, the Commodity Futures Trading Commission, warned the public of fake claims of forex, CFD, and crypto firms being regulated and endorsed by the US watchdog.
The following entities are the ones on the warning list: Bitfx24option.com, Fidelityfxtrade.com, Granttradefx.com, iMarketsserviceFX.com, Toptradecapitalfx.com, Westtechtrade.com, Westintrade.com, Yobcryptotrade24.com, Zenithoptionstrade.net, and Zenithtradermarkets.com.
The CFTC in a statement revealed that these published the exact same fake statement that they are registered within the CFTC as FCMs and RFEDs.
Many of these, and others, falsely claim to be regulated by the US National Futures Association. A simple search on the NFA’s website, a search by the fraudsters names that is, is enough to reveal how false these claims are, as there are no such brand names regulated by the NFA, or any other agency for that matter.
The Commodity Futures Trading Commission has also banned Goldman Global Investment Funds Ltd., Merryl Morgan, Sumtrades.com, Swiss FX Trade, and Ultracapitals. These are, again, not regulated by any licensing authority in the country, and as such are considered frauds.
Because of their unregulated status, all these companies have been issued instructions to seize their operations and stop their providing their financial services. The CFTC reminds them that such scammer services are in direct violation of United States law.