de | cn | ru

Market News

Italy's CONSOB warns against ProCapitalFX, GameBtcFx, CryptoClubFX and other unregulated brokerage brands

 

Italy's financial regulator Commissione Nazionale per le Societa e la Borsa (CONSOB) has updated its warning list with a bunch of unregulated brokers, including ProCapitalFX, GameBtcFx, and CryptoClubFX. The regulator published a long list of websites belonging to entities which are not licensed to provide financial services in Italy, and ordered them to cease their illegal operations. 

 

ProCapitalFX, GameBtcFx, and CryptoClubFX are actually owned and operated by one and the same company - Game Capital Ads Limited. The latter is registered offshore, in St. Vincent and the Grenadines, and is not authorized to operate on regulated markets, including the European Union, the UK, USA, Japan or Australia.

 

The company also operates a couple of other similar web sites like SmartProFX, FirstFXClub, and 360SmartFX, which are also present in CONSOB’s warning. Actually, most of those websites have one and the same design, trading conditions and even images. It seems that the people behind them only change the brand and domain names and multiply their scam scheme.

 

Here is the complete list of unauthorized websites flagged by the Italian financial watchdog on Monday (click to zoom-in):

 

 

 

Because of the wide-spread scamming in the trading world we encourage investors to deal only with financial services providers licensed by reputable governmental agencies like the FCA or CySEC in Europe.

 

 

>>  A list of forex brokers legally operating in Italy <<

 

 

TAGS: CONSOB  warning  ProCapitalFX  GameBtcFx  CryptoClubFX  SmartProFX  FirstFXClub  360SmartFX  Italy  scam 
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, IFSC MT4, MT5, Web $10 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
Australia, Cyprus ASIC MT4, MT5,
IRESSTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC 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
Australia ASIC MT4, MT5 $100 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

Italian regulator orders unregulated brokers CryptoCapitalFX, OnlyTrades, and Nasdaq 500 to cease operations

Jun 17 2019 12:02:43

  Italian regulator Commissione Nazionale per le Societa e la Borsa (CONSOB) warned that CryptoCapitalFX, OnlyTrades, and Nasdaq 500 are not licensed to provide financial services in the country, and ordered them to cease operating in Italy.    Forexbroker. Read more

UK’s FCA warns of AGM Group and Sigma4Trade clone firms

Jun 13 2019 14:18:24

  The UK’s Financial Conduct Authority (FCA) has recently updated its warning list with AGM Group and Sigma4Trade – two forex brokers that falsely claim to operate under legit companies, licensed by the regulator. Read more

Ireland to ban binary options and restrict CFD trades permanently

Jun 12 2019 15:40:33

  The Central Bank of Ireland (CBI), which also serves as a financial services regulator, announced its plans to make ESMA’s product intervention measures permanent. Read more

Spanish regulator adds Olympus Markets and several other offshore brokers to its warning list

Jun 10 2019 13:21:05

  The Comision Nacional del Mercado de Valores (CNMV) has updated its warning list with the already Olympus Markets, as well as several other offshore brokers - TopTradepro, UBCFX and Profit Trade. Read more

The FCA flags GlobalArabFX and iForex24 as clone firms

Jun 06 2019 12:48:37

  UK's Financial Conduct Authority (FCA) has recently warned against two clones: GlobalArabFX and iForex24. Read more

ASIC updates warning list with MRT Markets, RIMarkets, and Golden Day Profit

Jun 03 2019 13:03:04

  The Australian Securities and Investment Commission (ASIC) has added forex brokers MRT Markets, RIMarkets, and Golden Day Profit its list of unlicensed companies illegally targeting local investors. Read more

UK’s FCA adds Key Markets and CFD Premium to its warning list

May 31 2019 07:50:24

  The Financial Conduct Authority (FCA) has recently updated its warning list with unregulated brokers Key Markets and CFD Premium on Thursday. According to the regulator, these brokers have been providing financial services or products in the UK without its authorization. Read more

CySEC proposes a tiered approach to leverage

May 30 2019 14:10:07

  The Cyprus Securities and Exchange Commission (CySEC) proposed a tiered risk-based approach to leverage as a permanent national measure for investor protection. Read more

Two US Presidential Candidates already accept crypto donations

May 27 2019 13:27:17

  As the 2020 US presidential elections are approaching, candidates are already striving for media attention. Read more

ASIC warns against unregulated broker GFC Investment

May 23 2019 11:44:53

  The Australian Securities and Investment Commission (ASIC) has blacklisted unregulated forex broker GFC Investment. The regulator advised investors not to deal with this broker, as it is not authorized to provide financial services in Australia and could be involved in a scam. Read more

de | cn | ru