CFTC added 45 unregistered brokers to its Red List

The Commodity Futures Trading Commission is committed to helping protect Americans from fraud, and today the CFTC added another 45 unregistered foreign entities to its Registration Deficient List (RED List).

“For nearly 10 years, the CFTC has listed entities on the RED List that have the potential to do irreparable financial harm to unsuspecting Americans,” said Director of Enforcement Ian McGinley. “It is for this reason, we strongly encourage all customers to check the RED List before they trade because they may have little or no protections if they choose to trade with unregistered firms that operate outside the U.S.”

The red List is circulated to financial industry partners, including other regulators, consumer groups, industry participants, self-regulatory organizations, exchanges, and industry associations. It complements registration information provided by the National Futures Association.

The following 45 unregistered brokers have been added to the Red List. You can see the names and website of these fraud firms.

The alert warns customers that the perpetrators of these unlawful schemes typically refuse to credit customer accounts, deny fund reimbursement, commit identity theft, and manipulate software to generate losing trades.

About CFTC

The Commodity Futures Trading Commission (CFTC) is an independent agency of the US government.. It works to prevent fraud, manipulation, and abusive practices in the markets, and to protect investors and consumers from unfair practices. The CFTC also provides education and resources to help market participants understand and comply with its regulations. The mission of the CFTC is to promote the integrity, resilience, and vibrancy of the U.S. derivatives markets through sound regulation.

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