Websites of Tradernet and RoyalFX24 get blocked in Italy
Italy’s Companies and Exchange Commission (CONSOB) today announces that it has issued orders for the blocking of access to five new investment websites that abusively offer financial services.
The websites and entities targeted by the latest set of orders are:
- Tradernet Ltd (website https://web.utradefx.uno and related page https://utradefx.uno);
- “FMarketX” (website https://fmarketx.com and related pages https://client.fmarketx.com and https://webtrader.fmarketx.com);
- “Primus Trader” (website https://primustrader.com and related pages https://client.primustrader.com and https://webtrader.primustrader.com);
- “RoyalFX24” (website www.royalfx24.com and related page https://royal24fx.com);
- Allglobalfin Limited (website www.allglobalfin.com and related page https://webtrader.allglobalfin.com).
In issuing these orders, the regulator made use of the powers granted to it by the “Growth Decree” (Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the basis of which Consob can order Internet service providers to block access from Italian territory to the websites through which financial services are offered without due authorization.
The number of websites blacked out since July 2019, when Consob got the power to order such blackouts, has thus risen to 542. Earlier in October 2021, Consob ordered the blackout of 10 new websites that abusively offer financial services, including FX, CFD and crypto trading providers.
The list includes websites of clone entities, that is, of entities that steal the data (names, license numbers, etc) of regulated companies in order to easily deceive investors.
The black-out of the affected websites by Internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the blocking to be implemented.