CONSOB Issues Warning Against Top Trade Broker

This Monday the Commissione Nazionale per le Società e la Borsa (CONSOB), Italy’s financial regulator, issued a warning against Pay Peq Holdings Oü and Bonum Change Oü.

According to the regulator, the two companies have been offering their illicit services to members of the great, pizza-loving Italian public.

Being the swift, fast-acting group of people that they are down at CONSOB, it seems that their warning efforts have already paid off.

The site that the scammers had been using to try and attract customers - www.wwwtoptrade.fm - has already shut down.

CONSOB - They Aren't Top Traders

Now, far be it from me to criticize a regulator, but it does seem possible that CONSOB has made a typo in its warning.

The reason I say this is that a trip www.toptrade.fm, a trip I suggest you don’t make, takes you to another trading site that is run by PayPeq Holdings.

As such, it’s fair to say that this is probably the firm that CONSOB was referring to in the warning it released this Monday.

Unlike many other scam brokers, this site does attempt to lend itself an air of legitimacy. For instance, it says that it is regulated by PIPSEC - an independent regulator.

The fact that the company is offering 500:1 Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term on contracts-for-differences (CFDs) would suggest, however, that it is not adhering to European Union regulation.

So if someone from Top Trade does give you a call, just hang up - don’t encourage the scammers.