It might only be Monday, but already regulators have warned against a series of suspected scams. Over in Italy, financial regulator the Commissione Nazionale per le Società e la Borsa (CONSOB) has posted a warning against two entities operating within the foreign exchange (forex) trading space, including FXNobels.
The two warnings are for Glencoe Partners Ltd and Velmon Enterprise Ltd. According to CONSOB, the two entities which are offering investment services and activities to residents within the country are in violation of Italian law.
As highlighted by the regulator, Glencoe Partners Ltd is offering its investment services through its trading names FXNobel and FXNobels through two websites: https://www.fxnobel.com/ and https://www.fxnobels.io/. As the name suggests, the entity claims to provide forex trading through the two websites.
Specifically, the company states on the website for FXNobels: “FXNobels is a Forex Brokerage that allows customers to trade Forex, Stocks and Cryptocurrencies online. We believe that everyone should have access to the world’s biggest financial market, and we are here to educate and support our clientele.”
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FXNobels is Blacklisted by MFSA
As Finance Magnates previously reported, the Malta Financial Services Authority added an entity by the name of FxNobels to its warnings list earlier in January, which could be the same firm.
The other warning, which goes to Velmon Enterprise Ltd, is in regards to the trading services it offers via its trading name FxTradingPro. Through its website www.fxmarketpro.io, the entity claims to be a leading online trading provider.
“With one Fx Market Pro account, traders can trade over 175 products ranging from Currencies, Commodities, Indices and Stocks to use their desktop, tablet or smart-phone devices,” FxTradingPro claims.
Despite the claims from the two entities that they are trustworthy companies, because of CONSOB’s warning, it is a good idea to avoid dealing with either of these firms.