Written by 7:13 pm EU Investment

Consob blocks access to SaxoFX, AdroFX, and Trades FF Pips

In yet another episode in a long-running campaign, the Italian financial regulator, Consob, once again blocked access to a number of investment websites, including those holding licenses in other jurisdictions.

Consob

Fraudsters could pass themselves off as regulated financial services providers as a result of the ability to register domain names under relevant suffixes such as ‘.bank’ and ‘.fin’, Consob said.

The Italian market securities market regulator has been on a rampant crackdown to protect retail investors by making illegal financial services inaccessible.

Additionally, this includes product offers by firms holding licenses in other jurisdictions. The strict actions on these unauthorized actors in the market come as offshore brokers continue to chase online trading business in Italy.

In its latest crackdown, the Consob has contacted Italy’s internet service providers, requesting them to block access to:

Adrofx – Fxhubs – Forexuniontrades – Fxlive Traders – Graybitcrypto – General Fxs Exchange – Bunksfx – Moon Shell Bank – Ultra Fx Option / Ultrade Fx Options – Atomic Coin Venture – Buildreachy Ltd – Future Bright Investment – Fx Wealth – Bunksfx – Fptrades / fxpoptrades – Forexstackprofit – Bv Bank – Pro Max Finance – Cryptos Fintech – World Wide Lenders – Trade Simple – Realfxtradeotf – Nitro Forex – Sonance Online Bank Plc – Growth Bank – GoldVest Fx – FxUnlocked – Trust Cap Fx Ltd – FxMetaTrade – Forex4u – Acetoro – Aoi Union Bank – Delta Fx – Goldfinance Fx – Tsdl Finbank Uk Limited – C-Tech Digital Crypto Currency – Bing Forex Ltd – Glob Fx Trading – www.cryptosaur.co.uk – Crypto Fortune Investment – Hubblebit – Crypto Wallet – CryptoKG – Sparkle Finance – Direct Lender / Sparkle Finance Services Limited – Become Debt Free – Bitscoinfx – Authpips Fx – Coastal City Savings – Capital Trust Investments – Fx Trade Gain – Crypto Global Trades – Forex Crypto Payout – Ex Investment – Blue Ray Investment Group – Desert Financial Bank – Englandbank.Top – Alliance Fx Limited – Altexintel.com – Asset Builder – Blueberry Automated Market – Propnex Ltd – Piper Fx – SaxoFXCompany – Powerbitfxsignal – Pelagiabank – Fxminim – Vantagefx365 – Metafx Pay Trading – Touch Cash Fx – Chrimafx – Mondial Investments Limited – Eu Fx Bank – Fxt Traders – Index Fx – Luton Fx Trade – Fx Investent Miner – Fx Unlimited Trade / Unlimitedfxtrade – Lqd Fx – Standard Crypto Currency – Hfx SwiftCapita – ChandFxLtd – pretradefx.site – Capitextfx – Cryptoboasting – Trades Fx Pips / Fxtradepips – Fxbinax Tradex – North Global Fx – fx cycle trader ltd – Brokerof.uk – Magic Loans / Magicloans.Uk – Ad Crypto Limited – Fx Morgan Capital – GlobaloddFxTrades – Vintage Crypto – Primaxfx Global Trade Ltd – Moonletoken – Afx Capital Excel – Crypto Mart Trade – Njw Car Sales – Greenfrank Group Ltd – Forexprofitsolutionsltd – Upgradedtradefx – Apextradefx24 – bitsecuredfx.com – Idealfxtrading – Fx Multitrades – Validus – Remitex Solutions Sp. z o.o. – NovaTech, Ltd – BitFinityFX – Tutor Inc. Academy – CoiniSwap – QuantumTrade Corp. / Quantum Global Trading – Dmcc – Nymexidn – SogoTradez – Humility Investment – Polonxp.vip / Globtxsp.vip – Polo Digital Assets / Poloniex – TrustLedgersChain aka TrustLedgerChain – The Liberty International – Bitcore Exchange – Cryptospair – GrandCapital Cg – https://couturionrealestatemanagement.org – Investor24 Financial Solutions GmbH – Welt Anlage o Welt Anlage Independent Investors Sa – Agile Finance Sa – https://www.uncintl.com – Asin Srl – Asin Network Argentina – Gmt Investments – Thinvest – BigPeak Finance – Prime Olympic – Metatrade – Capital Whale – Caplita – Ako Markets – Market Intelligence Team – RimpMarket – https://uetrades.com – www.fnzeurope.eu – Financial Focus Ltd – https://www.extrendcapfx.com – beka-market – Flow Investments – Flow Dao – Trading de Universal Scale Investment Ltd – Everest Capital Ltd – Global Success Management Inc. – Marketing Instruments, Sl – 瀚濤基金有限公司 – Pinnacle – Specialist Investment Funds – Raiden Global – Avondale – Infinity Funds – Platform Capital – Libra Fg – D Lend Invest – QuickGet – Eureka Mittel – Fintrax Funds – My prepaid Bank; – Tezos-Global – Coinbase Limited – FinanceOneLtd – Vanguard Group (Ireland) Limited, – Icb Ireland Bank – Wca Private Ban – www.1market.com/fr – www.24cryptoforextrading.net – bitictrade.com – boursecapital.net – www.cryptoneyx.io – fr.finaguide.com – lions-broker.com – www.multibankfx.com – fr.puprime.net – raisefx.com – www.t4trade.com – traderhouse.com – valutamarkets.com – www.vestapros.com – virtuscapital.world

A glimpse at the websites of the brokers added out by the Italian financial regulator shows a well-known tactic to attract inexperienced clients to trade highly leveraged products.

Some of these websites are offering bonus schemes for their clients to the tune of 100 percent of their deposits. With the usual draconian conditions required to withdraw funds from the account once a bonus is applied, the end-result for such tactics are usually disgruntled clients who have withdrawal issues. With the Forex brokerage industry in the developed world being forced to halt any such practices, offshore jurisdictions remain tolerant of bonus schemes.

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