AMF Has Issued Warnings About the Following Brokers
The AMF has warned the public about the following brokers. We hope you don’t have an account with any of these brokers. If you do, we urge you to demand a refund. You may not be given access to your account, which is a good reason to contact ChargeBax experts to track down your funds.
These alerts from regulators should be taken seriously. The AMF knows a suspicious broker when they see one. The French regulator has examined these brokers and has concluded that they should be avoided. At ChargeBax, we stay current with alerts issued by the AMF and other regulators. These reviews are intended to keep your money safe online and to help you steer clear of financial scams.
What Is the AMF?
AMF Autorite Des Marches Financiers is the main financial regulator in France. It’s in charge of keeping financial markets fair, open, and safe for consumers. The regulator inspects the operations of financial companies and ensures they are abiding by all rules and regulations.
If the AMF flags a broker, it’s because they have violated rules concerning their activities or licensing or if they’ve received a large number of verified complaints.
Why Did the AMF Flag These Brokers?
- Licensing problems
- Misleading information
- Lack of transparency
- Account issues
- Customer complaints
Many of these brokers have licensing problems, ranging from not having a license to transgressing the terms of their license. They may sign up clients in areas they are not allowed to operate or offer certain types of trading not permitted in their area.
Brokers on this list may exaggerate their credentials or success on websites, emails, or other communications with potential clients. Their misleading statements can be concerning returns or fees or their track record. The aim of these statements is to fool clients into signing up.
Any financial service should tell you their names, exact location, contact information, and other essential information. They should also reveal all details about terms and conditions and shouldn’t simply spring sudden fees and charges on clients.
Many people feel that they are dealing with a legitimate broker, only to find they are suddenly locked out of their accounts or that the broker is charging excessive fees for withdrawals and other transactions.
Customer complaints are the main reasons brokers end up on lists like this. These complaints aren’t the same type that appears on generic review sites. Instead, the AMF verifies each one and often is providing services to aid the client.
AMF Broker List 2022
Is Your Broker on This List? Here’s What to Do
We do not recommend opening an account with any of the brokers we have mentioned in our warnings list. If you do hold an account with this broker, close it right away and ask for a withdrawal of your funds. If the broker will not allow you to retrieve your funds, talk to ChargeBax professionals right away. We will investigate the matter, track down the broker and your funds, and will help you prepare your claim.