Italy’s CONSOB warns of SunbirdFX, Edgedale Finance binary platform

Italy’s CONSOB warns of SunbirdFX, Edgedale Finance binary platform


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Italy’s financial regulator CONSOB made its regular Monday update of unlicensed entities offering their services in the country by adding the forex broker SunbirdFX and the binary options trading platform provider Edgedale Finance.

CONSOB lists the companies Spring Empire Solutions Ltd, with head office in London, Spring Strategies Ltd, with head office in Dominica and Sunbird International Limited, with head office in the Seychelles as not authorized to provide financial services in Italy.

An SMN check revealed that all three appear, in one time or another, as owners of the SunbirdFX forex broker. According to the website, it is owned by Spring Strategies Ltd. based in Dominica.

SunbirdFX, however, seems to have been previously owned by the London-based Spring Empire Solutions Limited. Last October UK’s Financial Conduct Authority has warned against this company.

The third alleged owner of the forex broker – Sunbird International Limited – claims to be registered on the Seychelles, but does not appear neither in the company registry, nor on the Financial Services Authority list of regulated entities.

Edgedale Finanice, which provides “the leading binary options platform for both new and experienced traders” claims to have more than 5 years of experience in the binary options industry and guarantees “exciting, remunerative and transparent experience”.

According to its website, the white label solution of Edgedale Finance is provided by Greymountain Management, a company based in Ireland. A google search revealed that it is a “ leading affiliate market platform for publishers and advertisers”, as per its website in the microblogging and social networking website Tumblr. It is listed in Ireland’s company registry, but not in the financial services providers list.

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