Both Cyprus and Italian authorities have been taking quick steps lately to stem the spread of scams and fraud among the online brokerage industry and have now issued new public notices regarding blacklisted firms. The latest actions include the blocking of unauthorized websites in Italy by local Internet providers and the blacklisting of firms by Cyprus’ Securities and Exchange Commission.
Traders should take caution if they are approached and offered services from the following firms. Companies blocked in Italy include:
- Dinengo Partners LTD (website https://marketsdock.com, and related pages client.marketsdock.com and status.marketsdock.com);
- Jean Pierre Technologies LTD (website www.jp.finance, and related pages https://trade.jp.finance and https://cashier.jp.finance);
- KBS Capital Markets LTD (website www.topcapitalfx.com and the related page www.my.topcapitalfx.com);
- NorthfintechFX Trading Services Ltd (website www.northfintechfx.co and the related page www.northfintechfx.trade);
- “Wallwood Broker” (website https://wallwoodbroker.com);
- “247 First Invest” (website https://247firstinvest.com);
- Uptos Ltd (website www.uptos.org);
- Equalizer Ltd (website www.marketfxc.com);
- “Inter Media Ltd” (website www.cfgtrades.com);
- “Acquantum AG” (website www.acquantum.eu);
- “Matrix banco” (website https//matrixbanco.com).
As for Cyprus, the firms that have falsely stated their registration and licensing as a Cypriot Investment Firm (CIF) and have been flagged by the regulator:
We encourage all traders to first thoroughly check the company you plan to trade with before sending funds or opening an account. To confirm registration or licensing you can simply search regulators from our comprehensive list and Check Your Broker directory.
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