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ProtechFx and PrimusForex websites are blocked by Italy's CONSOB

WikiFX | 2023-07-18 18:13

Abstract：Italy's Companies and Exchange Commission (CONSOB) has taken decisive action against illegal investment websites, issuing orders to block access to four platforms involved in unauthorized financial services.

Italy's Companies and Exchange Commission (CONSOB) has taken decisive action against illegal investment websites, issuing orders to block access to four platforms involved in unauthorized financial services.

The websites affected by the latest CONSOB orders include:

“FP Europe”
“PrimusForex”
“ProtechFx”
“Trezocapital”

To execute these orders, CONSOB leveraged the powers granted by the “Decreto crescita” (“Growth Decree”; Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-tendencies). This provision empowers CONSOB to direct Internet service providers to block access from within Italy to websites offering financial services without the necessary authorization.

The recent enforcement brings the total count of blacklisted websites since July 2019, when CONSOB acquired the authority to order the blocking of fraudulent financial intermediaries' websites, to 923. CONSOB routinely issues such orders to safeguard investors from potential scams. Notably, the regulator recently ordered the black-out of the FX Modex and Binetrix websites, further reinforcing its commitment to curbing illegal financial activities.

While the implementation of the access blockage is ongoing, the process may take several days to become fully effective due to technical considerations involved in coordinating with Internet service providers operating in Italy.

About Primus Forex

Primus Forex is a newly established broker. This broker, according to WikiFX, does not hold a regulatory license. And WikiFX has given Primus Forex a low score of 1.05/10.

About ProtechFX

ProtechFX is an Australia-based broker. According to what we know from WikiFX, this broker is not regulated either. Investing in this ProtechFX is fairly risky. WikiFX has given this broker a low score of 1.38/10.

Forex news

Related broker

Not Regulated

ProtechFX

Company name：ProtechFX

Score

1.64

Website：https://www.protechfx.com/?lang=en

5-10 years | Questionable Regulatory License | Suspicious Operational Region | High Potential Risk

Score

1.64

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