FINMA Blacklist 2022

The FINMA Has Flagged These Brokers—Is Your Broker on This List? 

FINMA regularly issues warnings about brokers they have examined and found to be suspicious. We recommend you peruse this list and see if any of the names sound familiar. We hope that you don’t have an account with any of these brokers, but if you do, be in touch with ReportScamOnline right away.

These brokers aren’t reliable. FiNMA, as a regulator, knows a suspected scam when it sees one. If you have an account with any of these flagged brokers, we recommend you request your funds back. We’ll help you track down your funds if the broker doesn’t cooperate. 

What Is the FINMA and What Does It Do? 

FINMA is the main financial regulatory body in Switzerland. It’s independent, but it works alongside the Swiss government to ensure markets run smoothly and are free and fair. FINMA ensures all financial institutions comply with regulations and will take penalties for infractions. They can issue and revoke licenses and seek legal remedies for fraud. 

FiNMA provides a service to the public and informs them about suspected scams. We are regularly updated with this information, examine flagged brokers and create these reviews so you will have access to updated information from the world’s most trusted regulators in one place. 

Why Is FINMA Warning the Public About These Brokers? 

The following are common issues that brokers that we see with flagged brokers.

Licensing Issues

Many fraudulent brokers have licensing issues of some kind. Many don’t even pretend they have licenses. Others are more underhanded and falsely claim to be licensed, accept customers from regions they are not authorized to operate, or may be functioning with a revoked or outdated license. 

It’s important to validate all licensing information and not simply trust what the broker says about the issue. Verify regulation information on the regulator’s site before opening an account. 

Misleading Information

Frauds function on misleading information. They rely on questionable claims to attract customers rather than on real credentials and independent reviews. Therefore, if a broker appears on FINMA’s list, it’s very likely they have included some misleading information on their website or as part of their marketing ads. 

Lack of Transparency

Do you know who your broker is? We’re not talking about the name of the company, but who runs it? This is an often overlooked yet essential part of researching brokers. If on the About Us page you only see more promotional content and no names, bios, and credentials, be careful. Anyone running a brokerage incognito isn’t to be trusted. 

Account Problems

When customers can’t access their accounts, a broker should respond with solutions, not excuses. If they claim ongoing technical problems, that the customer has overlooked fees needed to access accounts, or claims they need to withhold taxes beware. Often fraudulent brokers will encourage people to do additional trades after losing money. This is never a good idea. 

Customer Complaints

FINMA has received complaints about these brokers and has verified the claims as credible. Regulator reviews are far more reliable than complaints on review sites because regulators check to ensure the complaints are from real people and not fabricated as a way to harm the competition. 

Have You Lost Money to Any of These Brokers? Talk to Us!

ReportScamOnline experts understand brokers–reliable ones and scam operations. We have researched brokers and have created these reviews to help consumers make the right choice for trading. We recommend that you avoid the scam brokers mentioned here and instead find a reliable and licensed broker. If you have lost money to this broker, contact us and we will launch an investigation that will bolster your claim.

FINMA Blacklist