Industry Trends: Italy's CONSOB Bans 5 Websites Including FP Invest, Totaling 945!


The Italian CONSOB bans 5 websites including FP Invest, totaling 945; IG Group decides to lay off 10% of its workforce worldwide; LMAX Group completes the acquisition of Cürex FX.

1. Italy's CONSOB Bans 5 Websites Including FP Invest, Bringing the Total to 945!

The Italian financial market regulator, National Commission for Companies and the Stock Exchange (CONSOB), recently ordered Italian internet service providers (ISP) to block access to 5 websites illegally offering financial services within Italy. The total number of entities now blacklisted by CONSOB has reached 945.

2. CNMV Regulatory Blacklist Adds 5 Companies!

The National Securities Market Commission (CNMV) has issued a series of warnings to inform investors about the risks associated with unregistered operators.

The 5 unregistered entities include:

  1. alfatraders.pro-ALFA TRADERS, ALFA TRADE
  2. algotrust.trade-ALGO TRUST LLC
  4. invox.trade-INVOX TRADE
  5. tangent-capital.pro-TANGENT CAPITAL

3. IG Group Decides to Cut Global Workforce by 10%

IG Group has announced it expects to cut around 300 jobs by the end of the 2023 financial year, representing 10% of its workforce. This is the result of a review of the company's cost-effectiveness opportunities. It is noted that this fiscal year, both IG Markets and IG Index have experienced a decline in net profits.

4. LMAX Group Completes Acquisition of Cürex FX

LMAX Group, a broker operating in forex and blockchain trading, announced that it completed the acquisition of the forex business of Cürex on October 30th.

5. Saxo Bank Japan to Offer After-Hours Trading Services from November 1, 2023

Starting November 1, 2023, Saxo Bank Securities (Saxo Bank Japan), a comprehensive multi-asset trading and investment platform headquartered in Copenhagen, will offer after-hours trading services. This service will allow trading in foreign securities, individual stock CFDs, and other securities' CFDs listed on major US stock exchanges outside of regular trading hours.

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The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

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Contract for Difference (CFD)

Contract for Difference (CFD) refers to a financial derivative in which investors and counterparties engage in speculative or hedging transactions by exchanging the price difference of a commodity. Importantly, this occurs without the need to physically own or trade the underlying asset.

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