The AMF and the ACPR warn the public against unauthorised Forex trading offers from Omega Pro Ltd

After receiving a number of reports and complaints from retail investors, the AMF and the ACPR placed the www.omegapro.world trading platform on their Forex blacklist on 6 August 2020. The Institut d’Émission d’Outre-Mer (IEOM), which acts as the central bank for the Pacific Franc zone, has informed the two supervisory authorities that Omega Pro Ltd had been proactively canvassing the Polynesian region. The company's modus operandi described in the testimonies is similar to the aggressive practices of multi-level marketing (MLM) companies that sell trading training packs, which the AMF had already condemned in June 2020. 

The AMF and the ACPR found that Omega Pro Ltd also operates another website in French, Businessempire.fr, which advertises unrealistic gains ("more than 300% in 16 months") with an automated Forex trading service, presented as "a safe haven". The website www.businessempire.fr has recently been added to the Forex black list.

The AMF reminds investors that the Forex market is a risky one where retail investors can suffer heavy financial losses, for example through leveraged derivatives such as contracts for difference (CFDs), speculative financial instruments that bet on the rise or fall of an index, share, currency pair, etc., without owning the underlying asset.

Omega Pro Ltd is registered in St. Vincent and the Grenadines and advertises itself as a "registered brokerage firm" in that country, although the local Financial Services Authority stated in a warning dated 3 February 2022 that it does not issue any Forex trading licences.

Omega Pro Ltd is not authorised to provide investment services in mainland France, overseas departments or territories. The AMF and the ACPR are therefore strongly urging investors not to respond to solicitations from people claiming to be from this company.

Lastly, the AMF and the ACPR remind retail investors to follow these vigilance guidelines before making any investment:

• Be wary of promises of quick profits without trade-offs. There is no such thing as high returns without high risks.
• Do not be rushed or give in to pressure from the caller. Take the time to think it over.
• Be suspicious of requests for money transfers to countries that have no connection with the firm or with the investor’s country of residence.
• Do not take information provided by firms at face value, either orally or in writing. Using a false identity is easy and it is a widespread problem.
• Do not give your personal information (phone numbers, email address, ID documents, bank details, IBAN, proof of residence, etc.) to unreliable websites.
• Be careful of advertisements that you see on the Internet and especially on social media. They are the hunting grounds for scammers seeking to hook new victims.
• If the company that has contacted you has not been blacklisted by the AMF, this does not mean that it is authorised to provide you with financial services.

About the AMF
The AMF is an independent public authority responsible for ensuring that savings invested in financial products are protected and that investors are provided with adequate information. The AMF also supervises the orderly operations of markets. Visit our website https://www.amf-france.org

About the ACPR
The Autorité de Contrôle Prudentiel et de Résolution is the administrative authority operationally attached to the Banque de France that supervises the banking and insurance sectors and ensures financial stability. The ACPR is also responsible for protecting the customers of the supervised institutions and ensuring the fight against money laundering and the financing of terrorism. It also has resolution powers. The ACPR’s operational departments come under its General Secretariat. Visit our website at https://acpr.banque-france.fr/