de | cn | ru

Market News

Italy’s CONSOB blacklists FX Market Pro and FXNobel(s)

 

Unregulated CFD brokerages FX Market Pro and FXNobel(s) are the latest additions to the long warning list of Italian financial regulator Commissione Nazionale per le Societa e la Borsa (CONSOB). CONSOB ordered both companies to cease provision of unauthorized investment services and activities to the Italian public.

 

FXNobel (or FXNobels) operates via two websites - www.fxnobel.com and www.fxnobels.io. This is a trading name of Glencoe Partners Ltd., a company registered offshore, on the Marshall Islands, where brokers are not regulated. Judging by the number of complaints against the broker posted as comments to our review of the broker, a lot of investors have fallen victims to its scam.

 

FX Market Pro operating from www.fxmarketpro.io (and previously from www.fxmarketpro.com) is also a trademark of an offshore company. Currently, the broker claims to be owned by Velmon Enterprise Ltd. Its previous website claimed that the companies operating the FX Market Pro brand are Thinking Ahead Limited and Kitano Limited. All of these companies are registered on the Marshal Islands, so it doesn’t actually matter which of them is the brand owner.

 

So, neither FX Market Pro, nor FXNobel(s), has the right to target investors in Italy, nor in Europe, or any regulated market in general. Nonetheless, these brokers obviously do and it seems that they both are some sort of con-artists.

 

Unfortunately, the forex market is full of fraudsters trying to swindle misinformed investors in every possible way. This is why we encourage our readers to invest only in properly licensed firms 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 serviced mainly by brokers, licensed in other European countries, 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  FX Market Pro  FXNobel  FXNobels  warning  scam  Italy 
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, 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
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

France’s AMF updates crypto scam list with JBCapitals, XCoinBroker and several other unregulated brokers

Jun 25 2019 13:21:17

  The Autorité des marchés financiers (AMF) updated its alert list of scam crypto brokers with JBCapitals, XCoinBroker and several other unregulated entities. Read more

Italy follows suit: bans binary options and restricts CFD trading permanently

Jun 24 2019 15:08:16

  Italy is the next European country to make ESMA’s product intervention measures permanent. Read more

QuadrigaCX founder used clients’ funds for private ends

Jun 21 2019 13:03:59

  The founder and CEO of now defunct QuadrigaCX Gerald Cotton used clients’ funds for private ends, reported the firm’s bankruptcy trustee Ernst & Young Inc. Read more

The FCA may push ISPs to take down misleading or unfair financial promotions

Jun 20 2019 15:09:20

The Financial Conduct Authority in the UK (FCA) is considering additional powers in respect of internet service providers (ISPs). In its first annual perimeter report, the FCA says it might push ISPs to take down misleading or unfair financial promotions, in order to improve consumer protection. Read more

Spain’s CNMV blacklists unregulated brokers Financika and Hybrid Reserve

Jun 19 2019 13:00:47

  The latest editions to the warning list of Spain’s financial regulator, the CNMV, are unregulated brokers Financika and Hybrid Reserve. These entities are not authorized to provide investment services or investment advice in Spain, the CNMV said. Read more

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

de | cn | ru