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CONSOB warns Swissinv24, 4xpremium, AGM Group, IWC Invest and GMT Crypto are clone firms

Apr 23 2019
By
Jonathan Smith

 The Italian financial regulator CONSOB warned investors that Swissinv24, AGM Group, IWC Invest, 4xpremium and GMT Crypto are companies, and has ordered all o of them to cease their illegal operations in the country.

 

In its official notice the Italian financial watchdog stated that it has detected a significant increase of reports relating to "investment companies" making false claims that they are authorized to operate by CONSOB or by other EU financial regulators.

 

Forexbrokerz.com has published detailed reviews of all scam brokers mentioned above, warning investors against doing business with them. Actually, most of those fraudsters have already been blacklisted by other European authorities:

 

The UK’s Financial Conduct Authority has warned GMT Crypto is a clone firm, and the Financial Services and Markets Authority of Belgium (FSMA) has included its website in its list of cryptocurrency trading platforms showing signs of fraud; Spain’s financial markets and services regulator CNMV has blacklisted IWC Investment as a clone; 4xpremium, which appears to be a part of a serial scam scheme, is also present in the FCA’s warning list; AGM Group (operating via the www.agm-invest.com website) obviously tries to mislead investors that it is associated with Cypriot broker AGM Markets.

 

Unfortunately, the forex market is full of fraudsters trying to swindle naïve and misinformed investors in every possible way, and "clone firms" appears to be a popular scam tactic. This is why we advise our readers to invest only in properly licensed companies and to check carefully in the respective registers in order to minimize the risk of foul play as much as possible.

 

 

>> Forex brokers authorized to operate in Italy <<

 

TAGS: CONSOB  warning  Swissinv24  4xpremium  AGM Group  IWC Invest  GMT Crypto  clone firms  scam  Italy 
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