Italy’s CONSOB warns against unauthorized binaries broker Boss Capital

Italy’s CONSOB warns against unauthorized binaries broker Boss Capital

CONSOB

Italy’s financial regulatory body CONSOB issued on Monday a warning notice against binary options broker Cheshire Capital Ltd., doing business as Boss Capital, since the company unlawfully operates in the country without the required authorization.

The regulator warned that Boss Capital is not authorised to provide investment services or activities in Italy in any way and, not even through the website www.bosscapital.com.

On its website Boss Capital says it is based in the UK and was founded in 2014. It offers trading in more than 200 assets and payout of up to 85%.  It offerrs call/put, one-touch, and boundary binary options.

About a month ago, the Australian Securities and Investments Commission (ASIC) also put Boss Capital in its warning list since the broker operated in the country unauthorized.

In Italy, as in any other EU member, financial intermediaries, including forex brokers, are not allowed to operate without the proper authorization from the local authorities or the relevant regulator of any other EU country. If a broker is licensed in any EU member state, this license allowes it to provide services in the rest of the union.

We strongly advise you to only deal with regulated forex brokers, authorized by reputable regulatory bodies like CySec, FCA, and CFTC/NFA, among others.

Source: CONSOB

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