CONSOB Orders Blackout of 6 Websites Offering Financial Services

Italy’s financial regulator, the Commissione Nazionale per le Società e la Borsa (CONSOB), has published a statement on its website, which orders the blackout of six websites that are illegally offering financial services.

The six entities are Lion Finance Ltd (https://cfd2fxpro.com), Globalix Ltd (www.globalix.co), UAB Elnira (https://alltrademarkets.com), Grandtrade.exchange (https://grandtrade.exchange), BTB Corporate LT (https://bcapitalprofit.com) and Selinusinvestment.com (www.selinusinvestment.com).

CONSOB acquired the powers to order Internet connectivity service providers to inhibit access from Italy to websites through which financial services are offered without proper authorization in July of this year.

“Site obfuscation activities by internet connectivity providers operating on the Italian market are underway. For technical reasons, the actual blackout may take a few days,” the statement said.

CONSOB orders 77 sites to be blocked

Since it acquired these powers earlier in the year, the Italian regulator has ordered 77 sites to be blocked in the country. Out of the entities included in today’s warning, already three websites appear not to be working, or at least this Editor can not access them - Globalix Ltd, BTB Corporate LT, and Selinusinvestment.com.

The other three entities - Lion Finance, UAB Elnira, and Grandtrade.exchange - all appear to be companies offering foreign exchange (forex) and other assets to trade.

The first on the list, Lion Finance, offers forex, commodities, indices, shares, Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term, exchange-traded funds (ETFs), and futures. The company claims to offer technology for the trading industry.

UAB Elnira, on the other hand, claims via its website to offer clients the same services as brokers but without the same level of fees. “AllTradeMarkets is one of very few financial services providers in the industry whose income is derived solely from the success of our clients!”

The last entity, Grandtrade.exchange, states that it is a dedicated forex Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term. It says that it is headquartered in Cyprus, but has a global reach.