Two forex brokers offering trading services without proper licenses have been blacklisted by CONSOB (Italian Commissione Nazionale per le Societa e la Borsa). The regulator issued a warning to all traders about the following brokers: Axa Asset Ltd and Bank and Capital. At the moment both brokers are operating without license, however no major complaints have been received from their customers as of yet.
Axa Asset Ltd works under www. hcifund.com website and in the contact section there is no physical address of the broker, but rather a statement that it is located, and I quote, “Worldwide”.
The second broker in question Band and Capital can be reached via www. bankandcapital.com. The site is translated into several languages and the broker claims to be one of the leading binary options broker in the industry today. In the contact section, the broker claims to be located in London, however on the second thought, after checking with FCA (UK’s Financial Conduct Authority), the broker is not registered.
CONSOB doesn’t have any scary stories to tell you yet and merely warns traders at this moment to be careful with the above mentioned companies.