de | cn | ru

Market News

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

Mar 18 2019
By
Jonathan Smith

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 
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
UK, Bulgaria FCA, FSC Web €29 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

More Forex Market News

Australia to cap leverage at 1:20 and ban binary options

Aug 22 2019 12:18:25

  The latest major forex hub which allowed retail clients to use higher leverage, Australia, is about to cap leverage at 1:20, and ban binary options altogether. Read more

New Zealand’s FMA blacklists Profitix and Dang Kang

Aug 21 2019 12:33:57

    Unregulated Forex brokerages Profitix and Dang Kang International Group have been blacklisted by the New Zealand’s Financial Markets Authority (FMA) on Wednesday   The official warning against the first entity – Profitix - reads that individuals from the bro... Read more

Malta restricts CFD sale to retail clients permanently

Aug 20 2019 16:28:19

The Malta Financial Services Authority (MFSA) adopted permanent rules restricting the marketing, distribution or sale of CFDs to retail clients. Read more

$3,5 bln Bitcoin Ponzi scheme Plus Token pressures the markets

Aug 15 2019 17:42:11

The fraudsters behind the China based Ponzi scheme Plus Token are dumping bitcoins worth over 3.5 billion USD on exchanges around the globe, and that is creating a selling pressure on the markets, venture capitalist Dovey Wan warns. Read more

Spain’s CNMV blacklists EurTrades, Trade100, and Key Markets

Aug 14 2019 13:54:57

  The Comision Nacional del Mercado de Valores (CNMV) updated its warning list on Wednesday with several offshore brokers - EurTrades, Trade100, and Key Markets. These entities are not authorized to provide investment services or investment advice in Spain, the CNMV said. Read more

Former binary options broker iTrader to be indicted in Israel

Aug 13 2019 14:07:37

  Israel’s state prosecutor announced that it intends to indict the company behind former binary options broker iTrader, its owner and senior officials, on charges of aggravated fraud and providing investment advice without a license. The company Gal Media Trade Ltd. Read more

CySEC warns of fake recovery agents claiming to be its employees

Aug 12 2019 20:32:52

  The Cyprus Securities and Exchange Commission warned against fraudsters impersonating its officers who are running a recovery room scam. Read more

Aussie crypto scam worth A$2.7 million busted, five arrested

Aug 08 2019 15:46:37

  A criminal group in Gold Coast, Australia were arrested for allegedly scamming over 100 Australians with A$2.7 million in cryptocurrency investment. Read more

EtherDelta investigated for exit scam

Aug 07 2019 12:01:50

  Chinese police are reportedly taking legal action against cryptocurrency exchange EtherDelta in connection with an alleged exit scam.    The news was actually reported in a series of tweets by the ex-owner and founding partner of the exchange Dovey Wan. Read more

BaFin warns against 4xincome, orders it to cease operations

Aug 06 2019 15:44:28

  The German Federal Financial Supervisory Authority (BaFin) blacklisted unregulated forex broker 4xincome and ordered it to cease operation in the country. The regulator said that this broker offers German clients trading in forex and various CFDs thorough its website 4xincome. Read more

de | cn | ru