RECOMMENDED FOREX BROKERS
Do not invest more money than you can afford to lose.
Italy’s financial markets regulator, CONSOB, has warned that the forex broker Swiss-FXTrading and the binary options broker EasyInvestment500 are not registered to provide investment services in Italy.
According to the site www.swissfxtrading.com, the brand SwissFXTrading is owned by LM Swiss Group – a “venture capital firm that invests in early growth venture-backed technology companies… managed by a cohesive group of investment bankers and consultants”. The company is based in the offshore zone the Marshall islands. The broker claims it considers itself “a global leader in Foreign Exchange Trading and CFD Investments”.
CONSOB also warns of the sites www.swissfxpro.com and www.lmswiss.com operated by LM Swiss Direct Ltd. The former redirects to swissfxtrading.com, while the latter is not active.
Italy’s regulator says the binary options broker EasyInvestment500 is owned by Pel Ltd and Kakao Ltd. SMN staff could not find information of the site’s ownership, except for a telephone number in Cyprus. According to the broker’s site, it is “the market leader in Europe in the online trade in Binary Options.”
So far only Australia’s financial markets regulator ASIC has warned that SwissFXPro is most likely a scam. Complaints on the Forex Peace Army forum from October and November 2016 claim the same.