The unregulated Forex brokerage CapitalGBP supposedly registered in the UK 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.
This update is among the first CONSOB has undertaken since the beginning of August. CapitalGBP operates via the capitalgbp.com and according to the information from the website it is registered in the UK. We remind readers that all brokerages operating on the territory of the United Kingdom fall under the regulatory oversight of the Financial Conduct Authority and have to be dully licensed by the proper authorities.
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.