Italy’s securities market regulator Consob on Monday issued warnings against Forex broker Fie World Finance Ltd and binary options broker Bloombex. The regulator is concerned that both companies try to lure Italian residents as their clients without having the adequate permission from the authorities.
Consob notes that Fie World Finance Ltd is not authorised to provide investment services and facilities in Italy in any way, including through the website www.forexitaly.eu. We should note that the website of the broker shows signs depicting the company as a hyip (high-yield investment program). These sorts of fraudulent schemes usually attract investors by offering them “guaranteed” high returns in exchange for a relatively small deposit.
Although the firm claims to be founded in the United Kingdom, LeapRate’s check has shown it has no registration with the Financial Conduct Authority. There is no information on the website regarding any licenses in any jurisdiction.
Next up in the list of warnings is Bloombex, which markets its binary options services via the websites www.bloombex-options.com and www.bloombex.it. Consob says that the company and these websites cannot be traced to subjects authorised to provide investment services and facilities in Italy.
The official text of the warning can be read here.