Italy’s CONSOB has added Time4X to its warning list
Italy’s financial markets and services regulator CONSOB (Commissione Nazionale per le Società e la Borsa) has warned that the forex broker Time4X has been offering its investment services and activities to the Italian public without being regulated in the country. Commissione Nazionale per le Società e la Borsa (CONSOB; Italian Companies and Exchange Commission) is the government authority of Italy responsible for regulating the Italian securities market. This includes the regulation of the Italian stock exchange, the Borsa Italiana. Time4X is a Forex and CFD broker that operates through the www.time4x.co website. The company is owned by FAH Investment LTD. CONSOB does not provide much additional information, but the broker’s site reveals that it is yet another one registered on the St.Vincent and The Grenadines. Much like the Marshall Islands or Vanuatu, the group of Pacific islands is the preferred location for unregulated Forex. They also provide UK number on the website and three languages for the website’s users (English, Italian and German), which means that most probably the firm was targeting not only Italian residents. Investing with a properly regulated broker is crucial for the safety of any investment. Here we should note that along with FCA, the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC), two other well respected institutions, also enforce strict regulatory standards upon all brokers in their jurisdiction. You can read our review on this broker here.