de | cn | ru

Market News

Italian financial regulator adds Mib700, Vix500 and DeltaFxMarkets to its warning list

Mar 11 2019
By
Jonathan Smith

 

Italy's Commissione Nazionale per le Societa e la Borsa (CONSOB) has updated its warning list with unregulated brokers Mib700, Vix500 and DeltaFxMarkets. The regulator also ordered these companies to cease offering unauthorized investment services and activities to the Italian public.

 

Mib700 and Vix500 are both trading names of Blue Seal limited, an offshore company, registered in Vanuatu. It is not licensed to offer financial services on regulated markets like those in the USA, Australia, or the European Union, Italy included.

 

Nonetheless, both brokerage brands have obviously targeted European investors, given the fact that both CONSOB and the Polish Financial Supervision Authority (KNF) have blacklisted Blue Seal limited. Judging by the plethora of complaints and negative user comments on our reviews of Vix500 and Mib700, these brokers are involved in some sort of investment scam.

 

The third brokerage brand flagged by the Italian regulator, DeltaFxMarkets (www.deltafxmarkets.com) claims to offers trading in a plethora of assets on the MetaTrader 5 platform, but fails to clarify any specifics. The broker is owned and operated by another notorious offshore company – Silver Wolf Limited. It also runs PremiumTradesMarkets, FXTrade777 (also blacklisted by CONSOB), and more.

 

Unfortunately, the forex market is full of scammers trying to swindle naïve and misinformed investors in every possible way. This is why we advise our readers to invest only in properly licensed companies in order to minimize the risk of foul play as much as possible.

 

Italy is a major market for the forex and CFD industry, which however is mainly serviced by brokers, licensed in other EU Member States, such as UK and Cyprus. Below, you can find some of the best forex brokers legally operating in the country.

 

 

>> Forex brokers authorized to operate in Italy <<

  

TAGS: CONSOB  warning  cease order  Mib700  Vix500  DeltaFxMarkets  Blue Seal limited  Silver Wolf Limited  Italy  scam 

More news about Mib700

Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 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

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

Thailand’s AML laws will also apply to crypto exchanges

Aug 05 2019 16:57:59

  The Secretary-General of the Thai Anti-Money Laundering Office (AMLO) stated that the existing anti-money laundering (AML) rules in Thailand will be amended as to also cover cryptocurrencies and prevent their use for illicit activities, as reported by local news media BangkokPost. Read more

ASIC warns against Alpha Financial Group, MGM Markets, and Brokerz.com

Aug 02 2019 16:06:03

  The Australian Securities and Investment Commission (ASIC) has updated its warning list today with Alpha Financial Group, MGM Markets, Brokerz.com, and several other unregulated brokers. Read more

de | cn | ru