CFTC adds CedarFX and Capital.com to RED List
Both CedarFX and Capital.com are very well-known and respected within the global FX industry and their operations do not target residents in the United States.
The Commodity Futures Trading Commission has added another 45 unregistered foreign entities to its Registration Deficient List (RED List), including the reputable FX and CFD brokerage firms Capital.com and CedarFX.
Both CedarFX and Capital.com are very well-known and respected within the global FX industry and their operations do not target residents in the United States.
Still, the CFTC added their domains (capital.com and cedarfx.com) to the RED List as part of its commitment “to helping protect Americans from fraud.”
CFTC claims brokers appeared to be acting in a capacity that requires registration
The Division of Enforcement staff members responsible for compiling the RED List are Erica Bodin, Michelle Bougas, and Rick Glaser. CFTC’s Office of Customer Education and Outreach produces and helps promote the list.
CFTC Director of Enforcement Ian McGinley said: “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. 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.”
Launched in 2015, the CFTC’s RED List now contains more than 240 entities. A firm is added to the RED List when the CFTC determines, from investigative leads and questions from the public, that it is not registered with the CFTC and appears to be acting in a capacity that requires registration, such as trading binary options, foreign currency (forex), or other products.
The Commodity Exchange Act generally requires intermediaries in the derivatives industry to register with the CFTC. An “intermediary” is a person or firm that acts on behalf of another person in connection with trading futures, swaps, or options. Depending on the nature of its activities, an intermediary may also be subject to various financial, disclosure, reporting, and recordkeeping requirements. There are some exceptions or exemptions where an intermediary does not require registration; however, entities on the RED List do not meet the criteria for an exception or exemption.
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 new foreign entities have been added to the complete RED List.
| New Entities | |
| 24OptionForex 24optionforex.com | ExtremeEarners extremeearners.com |
| 24OptionForex Investment Group 24optionforex.com | FastfxtCoin fastfxtcoin.com |
| AlvaroFxPro boptd.com | Finance Trade Capital financetradingcapital.com |
| BBT Capital Limited bbtforex.com | Foretrade Mining foretrademining.com |
| BBT Forex bbtforex.com | Forex Capital Gain forexcapitalgain.com |
| Binance FX Trading binancefxtrading.com | Forex Cash Market forexcashmarket.com |
| Binary Option Trades boptd.com | FxtMetaTrust fxtmetatrust.com |
| CapitalInvestOption capitalinvestoption.com | Galaxy Stock Trade Galaxystocktrade.online |
| CedarFX cedarfx.com | PrimeFX primefxtrades.com |
| Cedar LLC cedarfx.com | ProsperityFX prosperity4x.com |
| CJSC Capital Com Bel Capital.com | Prosperity LLC prosperity4x.com |
| Coingate ForexPro coingateforexpro.com | Quick FX Trade quickfxtrade.com |
| Crypto Banxa Pro Trade cryptobanxatrade.com | Ronghui Group ronghui.club/en |
| CryptoBanxaTrade cryptobanxatrade.com | Safe Side Trading Ltd smpfxtrade.com |
| CryptoBinaryTrade Cryptobinarytrade | SmartBitOption smartbitoptions.online |
| CryptocurrencyBitcoinxtrade cryptocurrencybitcoinxtrade.com | Smart Bit Options smartbitoptions.online |
| CryptoFxMarket cryptofxmarket.live | Smart Forex Broker Capital.com |
| CryptoInvestments cryptoinvestments.market/index.ph | Smpfxtrade smpfxtrade.com |
| CryptoLifeTrade (IQ Option) cryptolifetrade.com | Standard Crypto Trading standardcryptotrading.com |
| Crypto Prolite cryptoprolite.com | TradersOption tradersopt.com |
| CryptorateFX Ltd. www.cryptoratefx.com | True Forex Funds trueforexfunds.com |
| Elite Financial Group Ltd. elitefinancialmarkets.com/en | Unlimited Forex Goals unlimitedforexgoals.com |
| Elite Financial Markets elitefinancialmarkets.com/en |
