The National Commission for Companies and Stock Exchange (CONSOB), the body responsible for regulating the Italian securities market has been proactive in fighting against unlicensed binary options firms looking to potentially defraud Italians. The regulator has again added two brokers to its bad books.
As clarified today on the regulator’s website, it was stated that stated that: “site www.cteqs.com is not attributable to authorized to provide services and investment activities in Italy; now NTD Invest Corp Ltd is not authorized to provide services and investment activities in Italy in accordance with any terms and, therefore, not even through the website www.livetrader.eu “.
Unlike many other fraudulent brokers, City equities which operates via the website www.cteqs.com actually has a professional look on its website. The firm claims to have operations covering the regions of France, India, London (Ocean house , Little Trinity Lane EC4V 2DL , London Great Britain), Honk Kong (O8/f Kongling Building 100 Jervois Street Sheung wan Central, Hong Kong)and Italy. During our background check, it was found that the firm is not regulated by the Financial Conduct Authority either, and is in fact listed a scam, appearing on the FCA’s list of clone firms.
Livetrader on the other hand describes itself as the “The fairest binary options platform on the markets”. It claims to put all the necessary efforts to be the first choice for traders who are looking for the simplest, fastest and most friendly way to make money online. On its site, it seems to target Enlish, French and Italian speaking clients as it operates under the umbrella name NTD Invest Corp and its website as www.livetrader.eu. It is unregulated in any of the regions it claims to operate. The Italian regulators have therefore once again issued a stern warning from doing business with such a firm.
Livetrader and City equities got enlisted to the black list of CONSOB, following the recent cases of Axa Asset Ltd and Bank & Capital. As the CONSOB blacklist grows, so should caution by traders grow. Again, the CONSOB has warned trader and investor to always run necessary background checks on any company they want to commit their hard earned funds to.