Release Number 8555-22

CFTC Adds 34 Unregistered Foreign Entities to RED List

The Registration Deficient List (RED List) New Additions Bring Total to Just Over 200

July 14, 2022

— As part of the Commodity Futures Trading Commission’s ongoing efforts to protect Americans from fraud, today the CFTC added another 34 unregistered foreign entities to its Registration Deficient List (RED List).  Launched in 2015, CFTC’s RED List now has 202 entities. [See CFTC Press Release No. 7224-15]

A firm is added to the RED List when the CFTC determines, from investigative leads and public inquiries, that it is not registered with the Commission 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.

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 the National Futures Association (NFA) provides.

The 34 new foreign entities added to the RED List are:

New Entities

Algobit, Ltd.
octavetrade.com

Cent Projects, Ltd.
dynamicsfxtrade.com

Alis Capital Inc.
aliscapital.com

CloseOption
closeoption.com

B.O TradeFinancials
Cryptospherefx.com

CryptoBO
cryptobo.com

Bitpay Options
bitpayoptions.com

CryptoSphereFX
Cryptospherefx.com

Bluegate Financial Services
bluegatefinancialservices.com

DestroFX
Destrofx.com

Capital Forex Trade
www.octavetrade.co

Direct Cryptos
directcryptos.com

Capital Trading Hub
Capitaltradinghub.com

Dynamics FX Trade
dynamicsfxtrade.com

Capitalone Trade
Capitaltradinghub.com

Expirex Trade
Empiretrades.com

FXBrew
fxbrew.com

QuickFXTrade
quickfxtrade.com

FX Optimax
fxoptimax.com

Renesource Capital
Renesource.com

FX-Cryptex
fx-cryptex.com

SageFX
sagefx.com

HankoTrade
hankotrade.com

Stockinvestmentfx
stockinvestmentfx.com

IQFXTrade
iqfxtrade.com

Swissglobaltrade.org
swissglobaltrade.org

Menne Market Ltd.
mennemarkets.com

The Traders Domain
thetradersdomain.com

Octave Trade

www.octavetrade.com

Tifu Global Limited
TiFuforex.com

Pocketoption
pocketoption.com

TradingDeskFX
tradingdeskfx.com

Prime Crypto FX
primecryptofx.com

Wolves Trade FX
wolvestradefx.com

[See the complete list at RED List.] 

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 online list.

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 Binary Options Customer Alert and Fraud Advisories

The CFTC and the U.S. Securities and Exchange Commission have issued a Binary Options Consumer Alert to warn about fraudulent schemes involving binary options and their trading platforms. 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. The CFTC also has issued several customer protection Fraud Advisories that provide the warning signs of fraud, including a Forex Fraud Advisory.

The CFTC also strongly urges the public to verify a company’s registration with the Commission before committing funds. If unregistered, a customer should be wary of providing funds to that entity.

A company’s registration status can be found using NFA BASIC.

Customers can report suspicious activities or information, such as possible violations of commodity trading laws, to the CFTC Division of Enforcement via a Toll-Free Hotline 866-FON-CFTC (866-366-2382) or file a tip or complaint online.

-CFTC-