Italy’s Consob blocks, PrimeXBT and SimpleFX domains

abdelaziz Fathi

Consob, the Italian securities regulator, has dropped the hammer on yet another number of financial websites it says were illegally promoting trading products in the country.

It has contacted Italy’s internet service providers (ISPs), requesting that they block access to all of the sites in question.

In its latest crackdown, Consob has ordered the blackout of 28 new pages/websites that “abusively” offer financial services. This time, the administrative authority confirmed that its intervention was a result of a report received from the Finance Police.

“Consob and the Finance Police have agreed to continue and intensify the collaboration related to this subject. To this purpose it was decided the institution of a dedicated joint working group. As part of a wide-ranging investigation, several web domains were identified through which trading services on financial instruments, mostly related to crypto-currencies, were illegally offered,” the regulator stated.

The action has been supported by the ‘Decreto Crescita’ law allowing CONSOB to obstruct Italian investors’ access to online brokers. The regulators took similar action throughout the past few months, ordering nearly 593 domains to be blocked.

FinanceFeeds webinar: Expert panel to discuss market data for multi-asset brokerages  

The following websites belong to entities that are not allowed to offer financial services in Italy but continue to solicit investments from locals.

  • Gate Technology Corp (internet domains,,;
  • – “EliteCrypto Trade” (internet domain;
  • – Maxbit LLC (internet domains,;
  • – PrimeXBT Trading Services LLC (internet domain and related page;
  • – Po Trade Ltd (internet domain;
  • – AMarkets Ltd (internet domain and related page;
  • – “Finmax” (internet domain;
  • – SimpleFX Ltd (internet domain and related page;
  • – Vantage Global Limited (internet domain;
  • – “” (internet domain;
  • – “Bitcoin ERA” and “Absystem” (internet domains and;
  • – “Bitcoin ERA”, “CryptoRobot”, “Sagatrade” (internet domains,,;
  • – “Bitcoin-evolutionpro”, Twingle Consulting LTD (internet domains and;
  • – “Bitcoin UP” “FXPLANB” (internet domains and;
  • – Binarium Limited (internet domains, and

The Italian regulator found new tools to address illegal operators in the market when the ‘Growth Decree’ extended its powers far beyond. Thanks to the decree, CONSOB can order Italian internet service providers (ISPs) to block websites in the region. Due to technical reasons, it can take several days for the black-out to come into effect when these websites shut for a temporary period.

Additionally, the authority has warned even authorized firms against falsely advertising unregulated products as being regulated by Consob. The watchdog added that these financial promotions were unlikely to provide consumers with the clarity required by its rules and could leave them unable to understand whether the promoted products or services were beyond its remit.


Read this next

Digital Assets

Europe bans crypto payments to Russians as €10K cap scrapped

The European Union is taking further steps to sanction Russia after the recent developments surrounding its invasion of Ukraine.

Digital Assets

Mt. Gox creditors to get their funds through Bitstamp, other exchanges

The distribution of funds to creditors of the defunct crypto exchange Mt. Gox is set to kick off as the business’s Japanese bankruptcy trustee released a memo updating them of a new function and important deadlines.

Institutional FX

Tradeweb’s trading volumes hit $1.20 trillion per day in September

Tradeweb Markets, the online fixed-income trading platform, today reported its operational metrics for the month of September 2022, which has seen continued strong trading volumes so far. A frenzy that, at this pace, puts it on track to set a new record.

Crypto Insider

Cryptocurrency Spoofing: Why Should Investors Care About It?

Investors don’t just care about making more money. They care about their safety and security, too. This is observable in cryptocurrency, where consumers always protect their financial interests. People have developed this habit of fear of falling victim to possible scams and frauds.

Retail FX

FSCS closes London Capital & Finance (LCF) scandal after three years

The Financial Services Compensation Scheme (FSCS) has provided a final date for closing the scheme to compensate investors who lost money in the London Capital & Finance scandal, namely on 31 October 2022.

Institutional FX

Cboe reports highest ADV for FX volume in two years

Cboe’s institutional spot FX platform today announced its trading volume for the month ending September 2022, which marks its third-highest month ever.

Executive Moves

Investall hires ex-DriveWealth Steve Cortright as CEO

Investall is an AI-driven mobile trading platform for personal finance and investing that delivers AI-driven trading for thousands of equities and major cryptocurrencies.

Digital Assets

SIX integrates CryptoCompare’s cryptocurrency data feed

SIX will provide digital asset data to its clients via the same delivery channels as its leading reference, pricing, corporate actions, regulatory, tax and ESG data.

Digital Assets

CME Group to launch reference rates and indices on Avalanche (AVAX), Filecoin (FIL), and Tezos (XTZ)

Several leading crypto exchanges and trading platforms will provide pricing data for these new benchmarks, starting initially with Bitstamp, Coinbase, Gemini, itBit, Kraken, and LMAX Digital.