24 November, AtoZForex.com, Lagos – Italy’s regulator, the Commissione Nazionale per le Società e la Borsa (CONSOB) has updated its warning list with a new set of firms discovered to be running illicit business operations in its region. The new entrants to the CONSOB warning list include both FX firms and binary options outfits as well as a social trading platform.
This firm claims to have a host of successful traders, whom investors can simply follow. They also boast of having a team of experts from wall street who put their work in best copy, and helping traders to make huge sums, enabling traders a three month free access. However, the Italian financial watchdog has warned against doing business with this firm, as such activities it is selling have to be dully regulated. Best copy is not regulated, hence, its operations are not certified to be true or reliable.
LHCbroker and Oklycapital
This firm claims to be comprised of a dynamic team of professional and ambitious Forex traders, eager to share their trading experience and success with the World. It also states on their website that its funds are insured by the Oklycapital Limited, 20/22 Wenlock Road London England N1 7GU (Company number 9301062), stating that the Oklycapital Limited acts as a Guarantor in the amount of £420,000 per person, per authorized institution, thereby protecting all holders of the funds.
COSOB has warned that both LHCbrokers and Oklycapital Limited are unsafe to deal with as their claims cannot be verified since they are not regulated by the financial authority.
Amf Capital Limited and Ampha Management Ltd
This firm owns and runs the binary options outfit on http://www.italimarkets.com/. The firm is seen to be targeting both English speaking and Italian clients as its site has dedicated features for both languages. However, it neither shows regulatory license from the UK authorities nor CONSOB. The Italian regulators have therefore warned against dealing with this firm.
St. World Trade Inc.
Another blacklisted firm which plies its trade via the website https://www.tradingbanks.com/. This firm claims to have vast operations across various regions in the world, covering Europe and Asia especially. However, the public has been warned by the Italian financial regulator not to get carried away by the claims of this broker as it is not regulated to carryout the services for which it claims in the region.
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