La Commissione nazionale per le società e la Borsa (CONSOB), an independent statutory body set up to help police Italy’s domestic securities and futures market, has updated its blacklist with another unlicensed binary options firm OptionInt and its principle Tradelux Group Ltd.
The CONSOB warning list features the names of businesses that are unlicensed in Italy and which are also believed to have targeted local investors or made fraudulent claims to be associated with regulated entities.
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The binary options broker OptionInt, operating through https://optionint.com, was added to the Italian regulator’s warning list and CONSOB recommended that Italian investors avoid trading with this broker and its affiliates.
OptionInt’s website is owned and operated by IBA Group Ltd., a company that claims to be incorporated under the laws of Marshall Islands. The binary options broker, according to its website, claims to have its address at International House, Barking Road, London, United Kingdom.
In addition, the Italian watchdog has published a warning against a list of financial entities that have been listed as trading scams by other European financial regulators. This is why CONSOB advises Italian investors to check its registers before they deposit any funds with a broker, especially if the related broker used aggressive marketing techniques.
The Italian regulator follows in the footsteps of other authorities in Europe which have recently taken serious steps to curtail binary options activities and stem the flow of unregulated and non-compliant companies. These steps are meant to establish a hostile environment by imposing strict regulations, such as the French ban on all online advertising by binary options and forex providers. In some places there is even an outright ban on the industry.