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London Capital Trade, Grand Fx Pro, and CfdPremium end up on CONSOB’s warning list

 

Unregulated forex brokers London Capital Trade, Grand Fx Pro, and CfdPremium have been the latest additions to the warning list of the Commissione Nazionale per le Societa e la Borsa (CONSOB). The Italian financial regulator also ordered them to cease their illegal operations in the country.

 

Here is more detailed information on the three brokers, blacklisted by CONSOB:

 

London Capital Trade (LCT) is an unregulated forex broker, allegedly owned and operated by London Capital Trade LTD. It appears to have its origins in Russia, but nonetheless seems to illegally target EU investors. Grand Fx Pro  is also not allowed to operate in the European Union, nor on any other regulated financial market. This offshore broker is operated by Apsilon Ltd., a company registered on St. Vincent and the Grenadines.

 

CfdPremium is one of the numerous brands of the notorious company Silver Wolf Limited. It is registered on the Marshall Islands, but obviously provides its services in the EU. The company operates FXTrade777, PremiumTradesMarkets, DeltaFXMarkets, TradesEasy, and probably more, most of which are present in the warning lists of one or several EU financial regulators. For example, FXTrade777 has been blacklisted by CONSOB and the UK’s FCA (as a clone firm).

 

Scammers often use different names and domains, so you’d better avoid all above-mentioned brokers associated with Silver Wolf Limited, as well as all unregulated ones in general. Unfortunately, it seems that the forex industry is plagued with fraudsters, so we encourage investors to deal only with financial services providers licensed by reputable governmental agencies like the FCA or CySEC in Europe.

 

TAGS: CONSOB  London Capital Trade  Grand Fx Pro  CfdPremium  warning  Italy  scam 
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