CONSOB has banned Globalix and Axe Invest brokers

September 30, 2019 at 08:31 PM

Italy’s financial markets and services provider regulator CONSOB (Commissione Nazionale per le Società e la Borsa) has updated its list of forex brokers who are not licensed to operate in Italy. Globalix and Axe Invest are happened to get into the list. These firms have been offering investment services and activities to the Italian public without being authorized in the country.

Commissione Nazionale per le Società e la Borsa (CONSOB; Italian Companies and Exchange Commission) is the Italian governmental authority responsible for regulating the Italian securities market. The regulator is also responsible for the Italian stock exchange, the Borsa Italiana.

These two brokers have one important thing in common, they are both registered offshore in Marshall Islands and it is also a reason why they both should be avoided. 

Globalix is a forex broker, owned and operated by Globalix Ltd. The firm doesn’t disclose any regulatory information and only deludes investors, claiming to be located somewhere in Europe. In addition to CONSOB’s warning, Globalix has been banned in Spain by its local CNMV.

As to the Axe Invest, this Forex broker also attempts to confuse the traders by providing British and Swiss contact numbers on its website. However, the company is not regulated or authorized to provide financial services in Europe. 

Investing with a properly regulated broker is crucial for the safety of any investment. You can choose among Swiss brokers regulated by FINMA or those authorized in the UK by its FCA.

Also, you can share your trading experience with Globalix or Axe Invest by commenting on this post. 

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