The unregulated Forex brokerage Trade100 registered in the Marshall islands 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.
Trade100 operates via the websitetrade100.com and according to the information from the website it is registered in the Marshall Islands. We remind readers that the Marshall Islands is a favorite offshore destination for shady brokerages due to the isolated location of the country and the lenient laws regarding the registering of firms.
The brokerages provides the MetaTrader 4 trading platform, however, further trading conditions remain 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: