de | cn | ru
Forex

Market News

CONSOB warns of FxIBA, TradersPrime forex brokers, OptionInt binaries broker

Italy’s financial markets and services provider regulator CONSOB has updated its list of forex and binary options brokers who are not licensed to operate in Italy with two new additions.


The first one is the forex brokerage FxIBA, owned by IBA Group Ltd. - an offshore company registered on the Marshall Islands. It seems this is a new brokerage, as we have not come across it before. It claims its head office is in London, but the company is obviously not registered with UK’s Financial Conduct Authority (FCA).


IBA Group is also the owner of a binary options broker on the warning list – OptionInt, which, like almost all binary options brokers is dubious at best, for the simple nature of the binary options brokerages and their bad reputation. Worse still, this one is owned by a virtually unknown offshore company. Besides, this is not the first time CONSOB warns of OptionInt. The last time, however, it was owned by an entirely different company.


The third entry on CONSOB’s list is the forex broker TradersPrime. It also seems to be a new brokerage, but it is allegedly owned by the notorious Black Parrot Limited and Blonde Bear OU, according to the Italian regulator. Those two offshore companies are old acquaintances of the regulators through other brokerages – the infamous Mib700 and Vortex Assets.


Both have been warned against, including by CONSOB, and both have been pointed out as scam by user comments on our page. It is probably not a coincidence that the more recent complaints against both Mib700 and Vortex Assets are in Italian. Our guess is that the same two companies Black Parrot Limited and Blonde Bear OU have set up a new “broker” to continue scamming their Italian clients and hence the new warning.

 

>> See our list of FCA-regulated forex brokers <<


Either way, it is better to avoid dealing with offshore brokerages and choose properly regulated and reliable brokers. A good example for such are the ones supervised by the FCA or ASIC.


 

TAGS: consob  italy  optionint  tradersprime  fxiba  blonde bear  black parrot 
Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus CySec MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web $100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Cyprus FCA, CySec MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Australia, Singapore FCA, ASIC, MAS, BaFin MT4, Web,
ProRealTime,
2Dealer
$0 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus CySec MT4, Web, Gwasy $100 Review Website
Belize IFSC MT4, MT5, Web $1 Review Website
Cyprus CySEC in-house mobile
app
$50 Review Website
Seychelles FinaCom MT4, Web $10 Review Website

More Forex Market News

Finnish regulator warns of risks of ICOs, cryptocurrencies

Nov 22 2017 14:22:05

The Finnish financial markets and services regulator, the Financial Supervisory Authority (FSA), has joined the host of national regulators warning of the risks of investing in initial coin offerings (ICOs) and cryptocurrencies. Read more

$31 mln worth of Tether cryptocoins get stolen, developers freeze assets

Nov 21 2017 14:38:28

$31 million worth of Tether coins got stolen this Monday, following a “malicious attack”, the fintech behind the alt-coins said. Read more

Hong Kong’s SFC warns of forex brokers FXBTG, Vortex Assets, LeagueTrade

Nov 21 2017 13:51:45

Hong Kong’s Securities and Futures Commission (SFC) has updated its warning list with unlicensed and dubious forex brokers. The latest additions include FXBTG, Vortex Assets and LeagueTrade. Read more

Forex

Spain’s CNMV warns of IronFX, LiteForex sites with Catalonia extensions

Nov 20 2017 14:10:41

Spain’s financial markets and services regulator CNMV issued a warning against two sites with a .cat (Catalonia) extension: forex.cat and forextrading.cat. Read more

UK’s FCA warns of cryptocurrency CFDs risks

Nov 15 2017 09:20:11

UK’s financial markers and services providers regulator, the Financial Conduct Authority (FCA), has warned consumers of the risks of trading in cryptocurrency CFDs and noted they are “extremely high-risk, speculative products”. Read more

UK’s FCA to regulate binary options brokers from 2018

Nov 15 2017 08:06:00

 UK’s Financial Conduct Authority (FCA), which is in charge of the financial markets and financial services providers in the country, including forex and CFD brokers, announced that from January 3, 2018 it is taking over the regulation of the binary options brokers, as well. Read more

Germany’s BaFin warns of risks of ICOs

Nov 10 2017 14:22:01

Germany’s financial markets and services regulator BaFin became the latest national regulator to warn of the risks of the initial coin offerings (ICOs). Read more

India upholds hostile stance on Bitcoin

Nov 08 2017 15:16:57

S. Ganesh Kumar, a director of the Reserve Bank of India (RBI), the country’s c-bank and main financial regulator, said that the country would not recognize the Bitcoin or any other cryptocurrency as a legal tender. Read more

Forex affiliate portal Investoo buys Bitcoinmag.de crypto site

Nov 07 2017 14:06:52

Investoo Group, a London-based forex affiliate marketing business, has acquired Bitcoinmag.de – leading German cryptocurrency portal, thus expanding its reach into the DACH (Germany, Austria and Swizerland) market, said the company.   The sum of the deal was not disclosed. Read more

Japan mulls cutting OTC forex leverage to 1:10 – media

Nov 06 2017 15:09:31

The Japanese Financial Services Agency, which among other things regulates the activities of the Japanese OTC forex brokerages, is mulling to cut the max leverage offered to retail clients to 1:10, reports the site Finance Magnates, quoting own sources. Read more

Forex
de | cn | ru