CONSOB warns against Spot2Trade, FXCMarkets, PipsFX

CONSOB warns against Spot2Trade, FXCMarkets, PipsFX


The largest US forex broker

Do not invest more money than you can afford to lose.


Italy’s financial markets and services regulator CONSOB has warned against two unregulated forex brokers and a binary options broker: PipsFX, FXCMarkets and Spot2Trade. Neither of them is licensed to perform investment activities and services in Italy.

PipsFX is allegedly owned by Keyds Lydya Ltd registered in Marshall Islands and operates from the site

FXCMarkets is owned by a company of the same name and claims to be based in UK. It operates from the site and explicitly says it does not take clients from Italy or the EEA (EU+Norway, Iceland and Liechtenstein).

Spot2Trade is a binary options broker, claiming to be based in the UK and operating from the site

Neither of the companies provide regulatory information and neither has appeared in a warning list.

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