Consob, the Italian financial market regulator, continues to crack down on illegal trading platforms and has added four new names to its blacklist. One of them is a member of the Clone North American Derivatives Exchange Nadex, a US based retail investor platform that allows for short-term binary option trading.
The new platform is:
Prime Markets (primemarkets. co.com)
Fintech Market (fintechmarket. consulting)
Luxem Capital, Inc. (luxemcapital.com)
Nadex CFD Limited (nadexcfd. com)
At the time of publishing this article, the Nadex cloning site did not respond. However, the other three have been fully operational and offer CFD based trading channels. After Consob introduced the blocks, Italian customers will not be able to access them, thanks to the regulations introduced in 2019.
Consob reminds investors of the importance of making wise investment choices to the best of their ability and adopting common sense behavior, which is crucial for protecting their savings: for websites providing financial services, it is important to check in advance whether operators have authorized their investment targets, and for financial product quotes, the prospectus has been released. "Regulatory agency Consob commented in a written statement.
After adding the other four entities to the list of blocked sites, the total number of blocked addresses on Consob has increased to 898 since July 2019. Consob is one of the most active regulatory agencies in European financial markets, regularly monitoring the internet to block quotes from suspicious or unregulated entities.
