The unregulated Forex brokerage GoldFXtrading most likely registered offshore 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.
GoldFXtrading operates via the website goldfxtrading.com and according to the information from the website is registered in the UK, however, we have sufficient reason to doubt this information and we suspect the broker is most likely registered somewhere offshore like the Marshall Islands. More often than not scammers registered there present misleading information on its website claiming they are regulated in Europe.
The brokerages provides the MetaTrader 4 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: