French Watchdog AMF To Individual Investors: Avoid Forex!

The Autorité des Marchés Financiers (AMF), an organization that regulates participants and products in France’s financial markets, embarked on a study to assess the efficacy of trading by individuals in the foreign exchange (forex) markets. The decision was triggered by the growing number of complaints from clients and the appearance of fraudulent and misleading advertisements that lured average Joe traders into online forex trading with the promise of huge and instant returns, but downplayed the risk. Many of the online sites were illegal, unregulated and unauthorised. “The serious façades of some websites may actually be hiding frauds,” cautions the AMF….