The unregulated Forex brokerage KronosInvest 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.
KronosInvest operates via the domain kronosinvest.co and according to the website it is registered in the EU member-state Estonia. We remind readers that forex trading is dully integrated within the regulatory framework of the country and brokerages operating on the territory of Estonia have to be licensed by the relevant authorities. However, this is not the case with KronosInvest who are providing financial services illegally.
The brokerages provides a web-based 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.