The Italian financial regulator CONSOB has warned the public against several unauthorized financial services.
The CONSOB has blacklisted the following brokers.
DirectaFX offers trading with currencies, share, cryptocurrencies, indices and commodities. DitectaFX does not provide any address, only a UK phone number, so it is probably located in the UK.
The problem is that DirectaFX is not authorized to provide investment services in the UK or anywhere else in the world. This is why it got blacklisted.
GNTFIN is a broker that lets its clients trade on Forex, with commodities, indices and stock. Besides normal trading it also has a social platform that allow traders to share and copy their trades.
GNTFIN allegedly is run by a company called Zentrale Zahlstelle that is based in the UK. But neither GNTFIN and Zentrale Zahlstelle are authorized to provide financial services. GNTFIN is an illegal broker.
MaxiMarkets is a typical broker with currencies, commodities and stocks in its portfolio. What is not typical and is forbidden in most countries, is that the broker offer deposits bonuses up to 100%.
MaxiMarekts is based in Saint Vincent and the Grenadines and it is not regulated at all. It has no authorization to provide investments services in regulated countries, yet it is doing so, at least in Italy.
This is why the CONSOB has issued a warning against MaxiMarkets.
Forex, commodities, indices and equities is what Platinium Fund will let you trade with. It is a CFD (contract for difference) broker.
Incidentally, Platinium Fund is allegedly run by the same company as the above-mentioned broker GNTFIN – Zentrale Zahlstelle. It automatically means that is an illegal broker, because as we have already established, this company is not authorized to provide investment services.
DGXLTD offers more than a thousand assets for trading, such as currencies and cryptocurrencies via contracts for difference (CFD).
The broker is run by a company called Securex Plus Solutions from Bulgaria. Since it offers phone support in the UK, Italy and Germany, we have to assume it has clients in these countries.
And there lies the problem, DGXLTD is not authorized to provide investment services, it is an unregulated and illegal broker that has been blacklisted by the Italian financial regulator.
ProConsultinInvest and TFX25
ProConsultinInvest and TFX25 are two other companies that have been blacklisted by the Italian regulator. However, at press time their websites are not available, therefore we can not provide more information about them.
What is certain is that these brokers are not regulated, they have no authorization to provide financial services, otherwise the CONSOB would not have blacklisted them.
DirectaFX, GNTFIN, MaxiMarkets, Platinium Fund, DGXLTD, ProConultinInvest and TFX25 are unregulated and illegal brokers that the Italian financial regulator has warned the public against.
For trading we recommend using regulated brokers only and starting on a free demo.
Before investing real money, you have to be sure to understand the risks and to have a strategy.