Financial services platforms offer high risk investment instruments, such as forex instruments and Contracts for Differences (CFDs).
SolidXM is suspected to be a scam because there are no details about the company that runs the platform available on the website. Pelliron, which claims to be based in Saint Vincent and the Grenadines, has a UK-based phone number listed on its website. This suggests that the company targets UK traders.
NewFX says it is registered in Delaware. The company appears to not have any licenses. FX Alta claims that it is regulated by Malaysia. The Canadian Manitoba Securities Commission, however, issued a warning about it earlier this year.
Consob is able to block websites that offer illegal financial services on an Internet service provider level.
The regulator has stated:
Internet service provider operating in Italy are still blocking these sites. The blackout can take up to several days due to technical reasons.
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