TBBOB The Italian financial regulator Consob has added five more unregulated entities to its blacklist.
Crypto Base
The main offering of Crypto Base consists of cryptocurrencies, but you can also trade Forex, commodities and stocks with them. To start you will need at least 250 USD to be able to open a real trading account.
Crypto Base Claims to be located in Switzerland, but it also has dedicated support for Great Britain, Italy, Spain and Russia. But it is not authorized to provide investment service anywhere, it is an illegal broker.
GOtechFX
GoTechFX labels itself as a leading Forex broker, it is focused on trading currencies, such as the U.S. dollar, euro, yen, etc. It uses the Metatrader platform for that.
But GOtech FX is an entirely anonymous and unregulated broker. Its phone number is British, but there is no address. It is an illegal broker with no license.
ProFX247
ProFX247 will let you trade with currencies, stocks and commodities on Metatrader. If you want to contact this broker, you will find out that it is based in Saint Vincent and the Grenadines, even though its phone number leads to the UK.
ProFX247 is a broker that has no authorization to provide investment services. Despite this fact it is offering them, and this is why the Consob has placed it on its blacklist.
MarketsFX
MarketsFX wants you to trade Forex, stocks and commodities with it. To open a real trading account with this company you will need at least 250 USD as the minimum deposit.
In case of trouble it will be difficult to seek help, because MarketsFX is an anonymous broker. Its web page only says it is located in Ireland, but there is no address. This broker is not authorized to provide investment services.
Alliance Capital
Allicance Capital will let you trade with currencies on Forex, it will give you access to Metatrader for this purpose. For real trading you will need to deposit at least 250 USD.
Alliance Capital says it has multiple years of experience in the field, but it is not true, the broker was established only last year. What is even worse, it is an unregulated broker and anonymous, it provides no address nor phone number. It has no license to provide services it is offering.
Summary
Crypto Base, GOtechFX, ProFX247, MarketsFX and Alliance Capital are unregulated and illegal brokers that the Italian regulator Consob has warned against.
For trading you should always use only regulated broker and start on a demo account, so that you learn without risking your own money.
