Regulator CONSOB warns against four unregulated brokers in Italy, namely Fah Investment Ltd (www.time4x.co), CFX Point Ltd (cfxpoint.com), AJN Trade Ltd and Light Media Ltd (www.protradefx.com) and Capital Tech Ltd (www.pbncapital.com). What do we know about these firms?
26 June, AtoZ Markets –The financial regulator of Italian markets, the Commissione Nazionale per la Societá e la Borsa (CONSOB) has issued a warning for the investors’ community on its website. The authority has warned against four unregulated brokerages in Italy. It has stated that the firms are not authorized to provide any investment services in Italy.
Regulator CONSOB Warns About Four Unregulated Brokers in Italy
CONSOB, the independent statutory body that is established to aid oversee Italian domestic securities and futures market, has mentioned four following companies: Fah Investment Ltd (www.time4x.co), CFX Point Ltd (cfxpoint.com), AJN Trade Ltd and Light Media Ltd (www.protradefx.com) and Capital Tech Ltd (www.pbncapital.com).
The regulator has stated that these brokers are unregulated in Italy, yet, choose to operate in the market.
Fah Investment Ltd has stated that it offers investors “one of the most innovative and cutting-edge professional trading platforms” on its website. The entity also claims that it is a fully licensed and regulated Meta Trader 4. It has a registered address in St Vincent and The Grenadines, which is a country in the Caribbean.
CFX Point Ltd enables investors to create live and demo Forex trading accounts. The entity claims to offer technical support, consultations and expert advice.
Following on this, the AJN Trade states on its websites that it “provides premium-quality commodities and Forex trading services.” Reportedly, the company has been established in 2013. Capital Tech Ltd is offering Forex, CFDs for equities, precious metals, indices, and energy trading. The entity works with institutional and retail Forex traders.
CFX Point Ltd, AJN Trade Ltd, and Capital Tech Ltd are registered at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, MH96960.
CONSOB has recommended that Italian residents avoid dealing with all four of these firms.
Global Regulators' Warnings
Moreover, the CONSOB has published a series of warning from other market regulators. The warnings come from the UK’s Financial Conduct Authority, Hong Kong’s Securities and Futures Commission, and Austria’s Financial Market Authority among many others. All authorities have identified companies and websites that are promoting or offering investment, insurance, and financial services without authorization.
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