The unregulated Forex brokerage DeltaFXMarkets registered offshore in Saint Vincent and the Grenadines has been added to the warning list of the Italian financial watchdog Commissione Nazionale per le Societa e la Borsa (CONSOB). CONSOB keeps and updates one of the most comprehensive list of unauthorized financial service providers that are operating illegally in Italy.
DeltaFXMarkets LTD operates via the website deltafxmarkets.com and according to the information from the website it is registered in the Marshall Islands which is among the favourite destinations for scammers due to the extremely lenient laws regarding the registering of a firm. A person needn’t even physically be there in order to register a firm. More often than not scammers registered there present misleading information on its website claiming they are regulated in Europe.
The brokerages provides the MetaTrader 5 platform, however, there is no demo account available and the trading conditions are unclear. Furthermore, readers are urged to take heed of the warning issued by the Italian authorities which reads that the brokerage is providing financial services unauthorized and is targeting Italian traders illegally.
We always remind readers that the best way to exclude all risk of fraud in trading is by associating only with entities that fall under the regulatory oversight of prestigious agencies such as the FCA in the UK or CySEC in Cyprus.
Here is a screenshot of the complete list of unregulated, ill-minded Forex brokerages that have been added to the warning list of CONSOB on Monday: