Investor Warnings Issued by Italian CONSOB Against FinCloud and Market-Gold
The trading platforms; FinCloud and Market-Gold have claimed that they are licensed to operate as financial companies in Italy. However, the Commissione Nazionale per le Società e la Borsa has confirmed that neither of the service providers is regulated.
Just recently, the Commissione Nazionale per le Società e la Borsa has targeted two online trading service providers for financial securities offerings in Italy. The report shows that the warnings have been issued by the CONSOB for FinCloud and Market-Gold.
Activities of FinCloud and Market-Gold in Italy
According to the Commissione Nazionale per le Società e la Borsa, FinCloud and Market-Gold have been operating as financial services entities in Italy. The platforms have been dealing with several investors in Italy and the CONSOB has decided to issue a warning for the investors.
FinCloud has reportedly been providing investors the ability to perform trades in several financial securities. The financial securities targeted by FinCloud include currency pairs, indices, and commodities. The platform is also claiming that it is providing trading services through bot traders. This way, the platform claims that the investors would not have to perform trades on their own. Instead, the robots would take care of trades on behalf of the investors.
This way, FinCloud claims that the Italian investors would not be at a loss. It gives investors the wrong impression that every investment they make would be profitable and full of gains.
Warning Issued against FinCloud and Market-Gold
The trading platforms; FinCloud and Market-Gold have claimed that they are licensed to operate as financial companies in Italy. However, the Commissione Nazionale per le Società e la Borsa has confirmed that neither of the service providers is regulated.
The platforms have claimed that they are authorized to operate in Italy and for that, they claim they have the license to prove it. However, the CONSOB has confirmed that both the trading service providers are unauthorized to offer trading services to the locals in Italy.
Therefore, the CONSOB has intimated and warned all Italian investors to be very cautious about the trading service providers. It is highly risky for the investors in Italy to interact with the firms and give their money over to them.
Giving money over to these firms is full of risks as the firms are unregulated and are not governed by any law. Therefore, it is recommended by the regulator not to interact with these platforms at all.
Operating Requirement in Italy
In Italy, the entities are required to have an operating license if they are to offer financial securities to the locals. As FinCloud and Market-Gold do not have the license, they are not eligible to offer their services in the country. These platforms are reportedly unsafe to deal with and have the potential of putting the funds of investors in high jeopardy. The firms are reportedly operating illegally in Italy and they are unsafe to trade with.
Action Taken by the CONSOB against FinCloud and Market-Gold
Apart from issuing a warning, the Commissione Nazionale per le Società e la Borsa has also taken aggressive action against FinCloud and Market-Gold. The regulatory authority has reportedly blacklisted the websites of both the trading service providers. This way, the Commissione Nazionale per le Società e la Borsa has taken the first radical step against platforms that are operating illegally.
Being on the blacklist means that neither of the trading service providers has no credibility and are risky to interact with. Therefore, the investors will need to take these factors into consideration when dealing with the trading service providers.
Contact Details Provided by FinCloud and Market-Gold
As of now, FinCloud can be accessed through the website: https://fincloud.capital/. On the website, FinCloud claims that it offers a 25% welcome bonus to every new investor that investments money through its platform. The platform claims it provides 100% negative balance protection.
For Italy, the support channels FinCloud offers include landline: +390507620110 and an email: [email protected].
On the other hand, Market-Gold can be accessed through: https://market-gold.com/. The platform offers support via email and landline that are [email protected] and +441323901008 respectively.