CONSOB, the Italian FX regulator is currently blacklisting 452 illegally operating FX websites. The watchdog added 6 new domains to its list this Thursday, putting the total number of sites that users should not invest in at an impressive number of 452.
The newly flagged websites are as follows: E-Trade Planet, Niwix Limited, Beradora Ltd, Tremisa Ltd, Tradixa Ltd, and Holding Limited Bolton and Bolton First Credit Limited.
These platforms offer the typical trading services with CFDs and FX pairs. One of the websites also offers cryptocurrencies. All claims are however scams, and thus all their services are misleading.
CONSOB is not the only license issuer to be taking action against investment frauds. One of the most important players, the FCA, is always on the lookout for scams and would-be scammers, as well as clone firms, and similar entities. The same goes for Cyprus’ CySEC, as well as other major European regulators.
However, CONSOB remains one of the few regulators with the power to block access to scammer websites. Once blocked, the websites cannot be opened anywhere on CONSOB jurisdiction. These powers were granted to the FX overseer in July 2019 by means of a governmental order. Since then it has increased its efforts at cracking down illicit FX and CFDs operations. The FCA and CySEC do not have this power.