Forex trading scams: the AMF and the ACPR warn about the services offered by Omega Pro Ltd

Omega Pro Ltd Unauthorized Forex Trading Offers

The Financial Markets Authority (AMF) and the Prudential Control and Resolution Authority (ACPR), which had already blacklisted the omegapro.world site in 2020, are adding another site belonging to the same company, Businessempire. fr, which also offers trading services on Forex, the currency market, without authorization.

Following numerous testimonials and reports from savers, the AMF and the ACPR had placed the omegapro.world trading platform on their FOREX blacklist of unauthorized sites on August 6, 2020. However, the Issuing Institute d’Outre-Mer (IEOM), which plays the role of central bank in the communities whose currency the Pacific franc, informed the two authorities of the existence of proactive canvassing by Omega Pro Ltd on Polynesian territory. The modus operandi of the company described by the testimonials is similar to the aggressive practices of network marketing (MLM) companies selling trading training packagesalready denounced by the AMF in June 2020.

The AMF and ACPR have found that Omega Pro Ltd also operates from another French-language website, Businessempire.fr, which promises unrealistic gains (“+300% in 16 months”) with a trading service automated on Forex, presented as “a safe haven”. The businessempire.fr site has just been added to the FOREX blacklist.

The AMF points out that Forex is a risky market, on which individual investors can suffer heavy financial losses, for example through leveraged derivative products such as CFDs (contracts for difference), speculative financial instruments allowing them to bet on upward or downward variations of an index, stock, currency pair, etc., without owning it.

Omega Pro Ltd, registered in Saint Vincent and the Grenadines, presents itself as a “registered brokerage firm” in this country; however, the local financial services authority, the Financial Services Authority, recalls in a warning dated February 3, 2022 that it does not issue any Forex trading license.

Omega Pro Ltd is not authorized to provide investment services in mainland France, nor in the overseas departments, nor in the overseas territories. The AMF and the ACPR strongly encourage savers not to respond to requests from people claiming to belong to this company.

In general, the AMF and the ACPR invite savers to apply due diligence rules before any investment:

  • Beware of promises of quick wins without compensation; there is no high return without high risk.
  • Do not give in to urgency or pressure from your interlocutor, take the time to reflect.
  • Beware of money transfer requests to countries unrelated to this intermediary or to the state in which you reside.
  • Do not take at face value the information given by intermediaries, whether orally or in writing; usurpations are frequent, numerous and easy to carry out.
  • Do not communicate your personal details (telephone, email, identity documents, RIB, IBAN, proof of address, etc.) to sites whose reliability you cannot certify.
  • Pay attention to the advertisements you see on the internet, your mobile devices and particularly on social networks; these are the favorite grounds for scammers to phish their future victims.
  • If the intermediary contacting you has not received a warning from the AMF, this does not mean that the intermediary is authorized to provide you with financial services.

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