Number of blocked websites of illegal online trading firms in Italy surpasses 250

Maria Nikolova

Consob keeps blocking access to illicit investment websites, with the latest series of orders targeting five websites.

The number of websites blocked by Italy’s Companies and Exchange Commission (CONSOB) has reached 252, following today’s orders which target five websites of companies that offer online trading services to Italian investors without having the requisite license.

The latest set of orders concerns the following entities:

  • Uptos Ltd (www.uptos.net);
  • Swissinv24 Ltd (www.swissinv24h.com);
  • One Thousand One Ltd (www.daxcapitals.com);
  • “AJ Asset” (www.aj-asset.net);
  • Tradixa Ltd (www.tradixa.co).

In ordering the “blackout” of these websites, the Italian regulator has made use of the powers granted to it under the so-called “Growth Decree”. Before this piece of legislation came into effect (this happened about a year ago), Consob had to rely mainly on investor warnings in order to protect Italians from scams.

Last week, Consob ordered the blocking of access to eight illegal online trading websites:

  • DevTech Holding (swissglobalpro.com);
  • Profx700 Limited (www.profx700.com);
  • “Euronovafxasset” (euronovafxasset.com);
  • Meg Trans Ltd and Roi Stock Limited (www.raxtrade.com)
  • “Trade Idea” and Netbit Services and Solutions Limited (www.tradeidea.co, https://elitetrading.co, secure.elitetrading.co and trading.elitetrading.co websites).

The activities for the blocking of the websites by Internet service providers are in progress. For technical reasons it can take a few days to implement the “blackout”.

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