The CONSOB (National Commission for Enterprises and the Stock Market) is the regulator of financial markets in Italy whose main mission is to supervise and regulate the financial industry in the Italian territory on the same basis as the AMF, which regulates the financial industry in France, the CNMV in Spain or the FCA in the UK. Approximately one year ago, the CONSOB had initiated legal proceedings against six binary options brokers, whereby the regulator has managed to get the hang of the websites of these disreputable brokers at the Italian scale. At that time, this related to websites such as the iOption, BOcapital, EZtrader and StartOptions brokers. Since this repressive action was carried out in 2013 by the Italian financial regulator, the latter has not created a buzz. However, a few months ago it granted its license to the 24Option broker, which was a good point scored by this broker. But as regards the crackdown, the CONSOB has not made a buzz until recent days when it has issued a new warning against six companies that offer their investment services to investors and individual traders in Italy. Among these six companies, we account for five that happen to be binary options brokers.
The CONSOB warns traders against 5 banned binary options brokers behind which hide the following companies and brands:
– B.H.N.V. Online Ltd / Bnet on-line Ltd
– Bo Investments Ltd
– BFM Markets
Through its official statement prepared and published on its own website, the financial regulator CONSOB declares that the companies listed here-above that claim to be binary options brokers have in fact no authorization whatsoever to offer their investment services in Italy and therefore they are not allowed to solicit Italian-based clients as has been seen in recent months. The regulator warns the public against the websites of these brokers who are identified in the warning of the Italian financial authorities and can be found here-below:
At the present time, the Italian Finance Committee CONSOB has only taken steps aimed at preventing binary options investors and traders against these companies. We can see that no enforcement action has been taken this time against the five brokers in question here. Our editorial staff will closely monitor the possible actions that CONSOB could take against brokers but it will issue a warning to the public and to readers after the events if any. It will also be interesting to see whether sanctions such as blocking websites in the country will be taken or if the regulator will repeat this preventive operation at other times during the year 2014 against other binary options brokers to avoid.
The regulator CONSOB does not seem to joke around with the financial rules of Italy; it is a strict regulator that knows how to take difficult decisions and demonstrate a certain determination, it reflects the seriousness of the European Union regulators and also shows its commitment to protect the interests of traders and individual investors against risky companies and illegal binary options brokers. Recently, the regulator of the financial markets in charge of controlling the financial industry at the French scale has also published a list of 75 binary options brokers to avoid and we can see that the five brokers against which the CONSOB launches a warning are also included in the blacklist of the French financial regulator. Therefore, they present a certain risk and it is better for binary options traders to avoid using such brokers.
Just like a majority of European Securities Regulators (such as the AMF, CNMV, CySEC, FCA, …) the CONSOB allows several binary options brokers that we refer to as regulated binary options brokers. These are brokers that have obtained various licenses and authorizations from financial regulators. The TopOption broker is the perfect example of a serious binary options broker to opt for. It is one of the few binary options brokers to have obtained more than 10 authorizations from international regulators in relation to quality services that it offers to traders, for the security of traders’ capital. Also, its activities and practices are in accordance with the local financial regulations.
By opening a TopOption account, each trader can benefit from a 100% bonus on deposit. Our team was able to negotiate exceptional bonuses with most binary options brokers; this is of a significant advantage as it helps to considerably grow one’s capital even before you start trading via the broker’s platform, without forgetting the BonusBinaryOptions.net guarantee, another advantage that allows you to be protected in case of a conflict encountered with a broker.