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Italy's CONSOB blacklists forex broker Capital Swiss FX

 

Italy's financial markets regulator Commissione Nazionale per le Societa e la Borsa (CONSOB) has updated its warning list with offshore forex broker Capital Swiss FX on Monday. The regulator stated that the broker is not licensed to provide financial services in Italy and ordered it to cease providing unauthorized investment services and activities to the Italian public. 

 

CONSOB does not provide much additional information, but our check on the broker's site reveals that there are two companies mentioned on Capital Swiss FX’s website - Swiss Cap Ltd and Swiss Capital Group Ltd. The first one is registered offshore, on St. Vincent and the Grenadines, and the second is allegedly based in London, UK. That being said, and Swiss Capital Group Ltd. is not authorized by the UK’s Financial Conduct Authority, and forex brokers in SVG are not licensed, not overseen by any authority.

 

Despite the fact that some sections on broker’s website mention something about Cyprus and the local law, neither of these companies is authorized by the Cyprus Securities and Exchange Commission (CySEC), nor by any other financial regulator.

 

Proper regulation is the only way you can feel secure about your investment on the retail forex market, which, unfortunately, is full of scams. That is why we encourage our readers to deal only with properly regulated brokers. Below, you can find some of the best forex brokers legally operating in Italy. This country 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.

 

>> Legit forex brokers offering their services in Italy <<

 

TAGS: CONSOB  warning  Capital Swiss FX  CapitalSwissFX  Italy  scam 
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Belize CySec, FCA, IFSC MT4, MT5, Web $10 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
Australia 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

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