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CONSOB orders RichmondFG, PTBanc, Get Financial, and CryptoEU to cease illegal operations

Italy's financial regulator Commissione Nazionale per le Societa e la Borsa (CONSOB) warned that RichmondFG, PTBanc, Get Financial, and CryptoEU are not licensed to provide financial services in Italy, and ordered them to cease operating illegally in the country

 

RichmondFG is a forex and binary options broker that is allegedly owned and operated by Elit Property Vision Ltd. Previously, it claimed to be trading name of Terraquest Media. Whicheber the company behind, this broker, it is not regulated. Considering that RichmondFG was also blacklisted by the Bulgarian Financial Supervision Commission (FSC) and the access to its website we blocked as a result of a court order, this broker is most likely a scam.

 

Similar is the case with PT Banc. The broker is allegedly a trademark of Sucaba Enterprise Ltd. and has been blacklisted by both UK’s Financial Conduct Authority (FCA) and Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF).

 

Offshore broker Get Financial operates via www.getfinancial.com and www.get-financial.com websites and also seems to illegally target EU investors. Apart from CONSOB, it was also flagged by the UK’FCA. Judging by the number of complaints we got as comments on the review of Get Financial, it is more than certain that the broker is engaged in fraudulent activities.

 

As regards CryptoEU, this offshore CFD broker tries to attract customers posing as a crypto exchange. It is owned by Columbia Capital Group LTD, a company registered on the Marshall Islands, which is not entitled to operate on any regulated market, including Italy and the EU in general.

 

The forex and cryptocurrency markets are plagued with fraudsters trying to rip-off misinformed investors in every possible way. This is why we always advise our readers to deal only with properly licensed firms and check up any broker’s name in the respective public register prior to investing.

 

>> Forex brokers authorized to operate in Italy <<

 

    

TAGS: CONSOB  warning  RichmondFG  PTBanc  Get Financial  CryptoEU  cease order  scam. Italy 
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