Italian Regulator CONSOB Closes Illegal Online Trading Websites


The Italian Business and Exchange Commission (CONSOB) has ordered the blocking of five new websites that offer abusive financial services, and has already blocked 441 illegal online trading websites.

 

May 10, 2021, | AtoZ Markets -The Italian Business and Exchange Commission (CONSOB) has ordered the blocking of five new websites that offer abusive financial services, and has already blocked 441 illegal online trading websites.

 

What Are the Latest Blocked Websites

Italy’s Companies and Exchange Commission (CONSOB) has ordered the blackout this web pages abusively offer financial services:

Seabreeze Partners Ltd (website www.profitassist.io and related page https://webtrader.profitassist.cc);
InvestFlow (website www.invest-flow.io and related page https://webtrader.investflow.trade);
Renaissance Invest Ltd (website www.renaissanceinvestltd.com);
Swissqb247 (website https://swissqb247.com and related page https://client.swissqb247.com);
ESOS International Ltd and Kadeky International SRO (website www.ainvestments.eu and related page https://trading.ainvestments.eu).

When issuing the orders, Consob made use of the powers derived from the “Growth Decree” (Law No. 58 of June 28, 2019, Article No. 36, paragraph 2-third), by virtue of which it can order Internet service providers block access from Italy to websites through which financial services are offered without proper authorization.

When you have questions about your broker, consult the Consob page to review  information https://www.consob.it/web/consob-and-its-activities

 XDEX Announces Closure

 

The number of websites blocked since July 2019 when Consob obtained the power to order the blocking of websites of fraudulent financial intermediaries has risen to 441 so far.

It should be noted that some of these websites belong to clone real entities, that is companies that use the data of authorized entities (names, logos, etc.) in order to mislead investors, trying to make them think that they are also authorized.

Most of the websites that were blocked belong to forex brokers, CFD’s and cryptocurrencies markets. The desition of Consob have inmediatly efect although for some technical reasons it may take several days until the lock is actually implemented.

It is very important to always be attentive to the places where we are investing our money, since we must be sure we have the support and the necessary regulations when making our trading.

 

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