AMF, FSMA and FINMA warning lists explained: what a clean search does and doesn't prove
The Sentinelle Markets team · 29 October 2026 · 4 min read · How we write
In short
- Search the domain and the legal entity name, on the regulator's own site.
- Not being blacklisted is not the same as being authorised.
- Never pay a fee to withdraw your own money.
A regulator's warning list is the fastest safety check a trader can run: thirty seconds, free, and it catches a large share of the platforms that cold-call people in France, Belgium and Switzerland. But a clean search proves less than most people think. This guide shows what each list contains, how to search it properly and what to check next.
The four lists for French-speaking traders
| Regulator | Country | What it publishes | Where to search |
|---|---|---|---|
| AMF | France | Blacklists of websites and firms offering forex, crypto and other investments without authorisation | amf-france.org, "listes noires" |
| FSMA | Belgium | Warnings about unauthorised firms, often with the domain names they use | fsma.be, "mises en garde" |
| FINMA | Switzerland | A warning list of firms that may be offering services without a licence | finma.ch, "liste d'alerte" |
| AMF Québec | Canada | A register of authorised firms and a list of warnings | lautorite.qc.ca |
These lists change every week. Always search the regulator's own site, never a link sent by the person who contacted you.
How to search properly
- Search the website address, not only the brand name. Scam platforms change names often but reuse domains, or the other way round.
- Search the legal entity name written at the bottom of the site and in the terms. If there is no legal entity, stop there.
- Then search the authorisation registers, not just the warning lists. In France, an investment firm must appear in REGAFI (the register of authorised financial firms) or be an EU firm with a passport for France.
- Match every detail: name, address, website and the bank account you would pay into. A match on the name alone is not enough (how clone firms copy real companies).
What a clean search does not prove
Being absent from a blacklist only means the regulator hasn't flagged that site yet. New scam domains appear faster than any list can follow. The useful question is not "is it blacklisted?" but "is it authorised for what it sells me, under this exact name?"
A worked example of why it matters
A platform asks for a first deposit of $250, then more payments before any withdrawal.
| Step | Amount |
|---|---|
| First deposit | $250 |
| "Account upgrade" a week later | $1,000 |
| "Withdrawal fee" | $1,500 |
| Total sent before the first refusal | $2,750 |
Illustrative calculation, not an expectation of results.
In many cases like this, a two-minute search of the domain before the first $250 would have shown it on a warning list. Even with an authorised broker, size every position with the lot size calculator and check the pip value before you trade: safety is not only about the firm.
Your five-minute routine
- Search the domain and the legal name on the AMF, FSMA and FINMA lists.
- Find the firm in the authorisation register of its home regulator.
- Check that the payment account is in that firm's own name.
- Never pay a fee to withdraw your own money.
- If you have already paid, read what to do after a trading scam.
Most retail traders lose money even with properly authorised firms. Checking the firm removes one risk; it doesn't remove market risk.
Questions people also ask
Where is the AMF blacklist?
On amf-france.org, under its warning lists of unauthorised sites and firms. Always open it from the regulator's site, not from a link someone sends you.
If a platform isn't on any list, is it safe?
No. It only means it hasn't been flagged yet. Check that it is authorised, under that exact name, in its regulator's register.
Which list applies in Switzerland?
FINMA publishes a warning list on finma.ch. Swiss rules differ from EU rules, so check FINMA's own pages.
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