The Commissione Nazionale per la Societá e la Borsa (CONSOB) has warned against four unregulated forex brokers in Italy on Monday, stating the firms are not authorized to provide investment services or activities in Italy.
CONSOB is an independent statutory body which was set up to help police Italy’s domestic securities and futures market and it has outlined the following four companies: Fah Investment Ltd (www.time4x.co), CFX Point Ltd (cfxpoint.com), AJN Trade Ltd and Light Media Ltd (www.protradefx.com) and Capital Tech Ltd (www.pbncapital.com) as unregulated brokers operating in Italy.
Fah Investment Ltd says it offers investors “one of the most innovative and cutting-edge professional trading platforms” on its website. It also claims to be a fully licensed and regulated Meta Trader 4. It’s registered address is in St.Vincent and The Grenadines, a country in the Caribbean.
CFX Point Ltd allows investors to create live and demo forex trading accounts. It claims to offer technical support, expert advice, and consultations.
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According to its website, AJN Trade Ltd “provides premium-quality commodities and Forex trading services.” The company was created in 2013.
Capital Tech Ltd specializes in FX, CFDs for equities, precious metals, energy, and indices. The company works with retail and institutional forex traders.
CFX Point Ltd, AJN Trade Ltd, and Capital Tech Ltd are all registered at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, MH96960.
CONSOB recommends that Italian investors avoid trading with all four of these companies.
In addition, CONSOB also posted a series of warnings from other market regulators across the globe today. The warnings come from UK’s Financial Conduct Authority, Austria’s Financial Market Authority and Hong Kong’s Securities and Futures Commision, among others. All regulators have identified companies and websites that are offering investment, financial and insurance services without authorization.