Latest Italy CONSOB warning: Regulator unmasks five new unauthorized firms


La Commissione Nazionale per le società e la Borsa (CONSOB) of Italy unmasks five new unauthorized firms. See the latest Italy CONSOB warning below to know whether you are dealing with any of them.

19 April, AtoZForex  The Italy’s National Commission for Companies and the Stock Exchange (CONSOB) is responsible for regulating the Italian financial markets. Moreover, its main activity is protecting the investing public. Therefore, the watchdog conducts investigations with regards to potential violations of insider dealing and manipulation of market laws. However, the latest Italy CONSOB warning includes a list of five new unauthorized firms. Also, below you can review the original latest Italy CONSOB warning.

Latest Italy CONSOB warning

The below list of firms does not have legal authority to provide investment services and activities in the country as per the latest Italy CONSOB warning. However, the Italian watchdog warns the investors by adding five new firms to its warning list. According to the regulatory body, CONSOB does not regulate or authorize the below-listed firms to target the Italian citizens to provide their financial services. Moreover, we have personally reviewed the websites of each listed broker.

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#1 Blonde Bear Ou

Blonde Bear Ou is an Estonian based financial and investment company. As per their website, they mention their address as Laeva tn2, Tallinn City, Harju County, 10111. The firm deals mainly in Forex, commodity, stocks, indices, and assets.

Moreover, the brokerage has two online trading platforms and provides its services under the name of CAC400 and Mib700. CAC400 claims to provide Web Terminal, MetaTrader4, and Mobile Trading as trading platforms. Whereas, on reviewing Mib700 website, they claim their trading platforms as MT5 and Web Terminal.

#2 Innovate Markets Ltd.

InnovateMarkets is a Binary Options broker with its headquarter in the UK. On reviewing their site, they claim to be located at 10 Brock St 9th floor, Kings Cross, London NW1 2PY, UK. However, the CONSOB blacklists InnovateMarkets to provide their financial services in Italy by any means.

#3 FXChoice Limited

FXChoice Limited is a Belize-based IFSC regulated Forex broker. The company provides financial services in Forex, CFDs, and various precious metals. Furthermore, the company provides their headquarter address as Corner Huston & Eyre Street, Blake Building, Suite 302, Belize City, Belize.

Moreover, the brokerage firm claims that the cc payments are processed by Best Solution EOOD Osogovo No. 30, Office 501, District Sofia, 1303, Sofia, Bulgaria. However, holding the IFSC license does not permit FXChoice to target the Italian traders without getting the license from the CONSOB.

#4 S.O. Strategic Partnership LP and #5 Fintech Technologies Limited

Trade Fintech provides financial and investment services mainly in Forex, CFDs, and indices. S.O. Strategic Partnership LP owns and operates Trade Fintech as per their website. Moreover, the company claims to be operating its head office from the UK. The address mentioned is as Suite 2 5 St. Vincent Street, Edinburgh, Scotland, UK, EH3 6SW.

As per the latest Italy CONSOB warning, both the companies are unauthorized by the financial regulator. Therefore, they do not have permission to provide their financial and investment services in Italy by any means, including through their website. Also, on reviewing their website, I found the below information under their KYC (Know Your Customer) Policy. Click to zoom it.

Fintech KYC

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