10 March, AtoZForex.com, Lagos — The Commissione Nazionale per le Società e la Borsa (CONSOB), Italy’s financial market watchdog recently announced public warnings upon the activities of a Binary options broker as well as a Forex broker. Considering that CONSOB red-flags Bloombex and Fie World Finance.
Bloombex is unlicensed
Focus is on the Binary options broker, the respective firm is Bloombex. This firm operates under the following two domain names, www.bloombex.it and www.bloombex-options.com. The Italian regulator has reported that this company has not been authorized to carry out financial, or investment services in the country. Therefore, the firm's websites and practices are not recognized as an official licensed broker.
Warning on Fie World Finance Ltd
CONSOB red flagged Bloombex, the Regulator has also given a warning on the financial company Fie World Finance Ltd., given that this firm is not authorized to provide any investment services or facilities under its jurisdication. Fie World Finance operates through the website www.forexitaly.eu. Other red flags include the fact that the site of the company shows a high-yielding investment program, therefore playing down on the risk involved, and guaranteeing returns. Again, the firm sells itself as holding UK origins but according to the research carried out, it has not been verified yet with its affiliation to the Financial Conduct Authority, UK’s financial watchdog. When browsing the "official" website, the firm does not display such information.
The CONSOB has therefore denied any affiliation with the above mentioned firms, as it clarified that the objective of both companies is to mislead Italian residents into becoming their clients, despite not possessing the necessary licenses to carry out such operations.
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