Traderia and InstaFx24 end up in CONSOB’s warning list

October 31, 2019 at 04:37 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. Traderia and InstaFx24 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 a lot in common. They both are registered offshore and both claim to be located in the UK. However there are no mentions about either of the companies in the FCA’s register. And also both of them do not fall under the regulatory of any agency.

Are these brokers legit?

InstaFx24 is an offshore Forex broker registered in the Marshall Islands. The company holds the name of the well-known and regulated broker InstaForex, however, there is no actual connection between these two brands. In addition, InstaFx24 has been blacklisted in Austria and the UK by the local regulators. Before dealing with this broker, check our full InstaFx24 review

As to the Traderia, this offshore broker is registered in St. Vincent and the Grenadine and claims to be the leading Forex and CFDs broker. This broker has also gotten in the FCA’s warning list in addition to the warning from the Spain’s regulator CNMV. You can check our full Traderia review here

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 Traderia and InstaFx24 by commenting on this post. 

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