de | cn | ru

Market News

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

Apr 03 2019
By
Jonathan Smith

 

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 
Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
cTrader
$100 Review Website
Australia, Cyprus ASIC, CySEC 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 MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website
UK, Cyprus, Dubai FCA, CySEC, DFSA MT4, MT5, Web,
PrimeTrader
$100 Review Website

More Forex Market News

EU finance ministers agreed to block Libra

Dec 05 2019 13:46:59

EU finance ministers have agreed that  private digital currencies like Libra – the crypto coin Facebook plans to launch in 2020, should not be allowed in the European Union until all possible risks are identified and properly addressed, Reuters reports. Read more

CFTC looks for a binary options scammer who defrauded investors with $3,8 mln

Dec 03 2019 17:20:38

The United States Commodity Futures Trading Commission (CFTC) apparently can not locate Peter Szatmari, who defrauded nearly 4 million USD from binary options investors. Read more

Bulgarian court allows the extradition of Gal Barak to Austria

Dec 02 2019 17:51:14

After a successful operation of the police in Austria, Germany, the Czech Republic and Bulgaria has lead in February to the arrests of several financial executives, among which the Izraeli citizen Gal Barak, who is charged of orchestrating an online trading scam, that allegedly has defrauded Europea... Read more

Italy’s CONSOB blacklists EvolutionBrokers and KapitalSwiss

Dec 02 2019 15:30:33

   Italy's financial regulator Commissione Nazionale per le Societa e la Borsa (CONSOB) has blacklisted a bunch of unregulated brokers today, including EvolutionBrokers, and KapitalSwiss. CONSOB also ordered internet providers to block access to their websites. Read more

91 arrested in Indonesia over an online investment scam

Nov 29 2019 10:32:00

The Indonesian police has arrested 85 Chinese nationals and 6 Indonesians over an online scam that defrauded victims of over 36 billion Indonesian rupiah (2,56 million USD). Read more

Second person arrested in connection to OneCoin money laundering

Nov 28 2019 17:36:36

David R. Pike, a chief operating officer of Fenero Funds was arrested by the U.S. authorities in connection to laundering some 400 million USD, stolen through the notorious OneCoin Ponzi scheme.   Pike appears to have worked with the convicted OneCoin layer Mark S. Read more

UpBit hacked for $50 mln

Nov 27 2019 17:05:16

After a hacker attack South Korean crypto exchange UpBit has lost some 342 000 Ethereum (ETH) coins, equal to well over 49 million USD. The exchange has assured its clients that the loses will be covered by its own assets, but for the time being all withdraws have bees suspended. Read more

Charles Schwab buys TD Ameritrade for $26 bln

Nov 26 2019 18:01:43

Expected to be finalized in late 2020, the merger between two of the leading U.S. brokerage houses will create a mammoth company that will be in the position to challenge major financial rivals. Read more

UK’s FCA alerts investors of unregulated brokers STI Global and PlatinumCFD

Nov 25 2019 15:49:04

The UK’s Financial Conduct Authority (FCA) added STI Global and PlatinumCFD to its black list of unregulated brokers previous week. According to the regulator, these entities have been providing financial services or products in the UK without proper authorization. Read more

OneCoin lawyer found guilty for laundering $400 mln

Nov 22 2019 17:27:50

Mark Scott, an American lawyer, has been found guilty for his role in the notorious OneCoin crypto scam, which attracted  over 5,15 billion USD from investors all over the world. Read more

de | cn | ru