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PlatiniumFX and Capital GMA end up on CONSOB’s warning list

Dec 09 2019
By
Jonathan Smith

 

The latest additions to the warning list of Italian financial regulator CONSOB (Commissione Nazionale per le Societa e la Borsa) are PlatiniumFX, Capital GMA, and several other unregulated brokers. CONSOB also ordered internet providers to block access from Italy to the websites of these entities, as they offer financial services in the country illegally.

 

Actually, both PlatiniumFX and Capital GMA are allegedly based in Bulgaria, but aren’t licensed by the local Financial Supervision Commission (FSC), nor by another EU financial regulator, as required by law. This makes them unreliable trading partners, as traders have no assurance for the security of their funds when doing business with such brokers.

 

That said, the situation with the rest of the brokers blacklisted by the Italian regulator today, isn’t any different - MarketsFX is also an unregulated Bulgarian broker, while SwissAZ is a clone firm, exposed as such by the UK’s Financial Conduct Authority (FCA).

 

Forex brokers in Italy, as in any other EU Member State, are not allowed to operate without proper authorization issued either from the local authorities, or from any financial regulator of another EU country. When engaging with brokers that do not operate on the grounds of a valid license, issued from a trustworthy authority, traders are putting their investments at higher risk.

 

Below, you may check outsome of the best forex brokers legally operating in Italy.

 

 

>> Forex brokers authorized to operate in Italy <<

 

TAGS: CONSOB  warning  PlatiniumFX  Capital GMA  MarketsFX  SwissAZ 
Forex
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, Cyprus ASIC, CySEC MT4, MT5, Iress $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

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