The Italian National Commission for Companies and Stock Exchange Consob (Commissione Nazionale per le Società e la Borsa) has discovered another company that provides services where it does not have the right to provide them. Nemesis Capital, which owns the AlfaTrade brand, has not received a license to provide investment services in Italy.
Although representatives of the company in 2015 announced the opening of an office in Italy, this statement turned out to be false. But the company illegally made money on Italian investors for more than a year.
The most interesting thing is that Italy is not the first country to expel the AlfaTrade broker from its territory. Previously, the broker had already been shamefully expelled from Ontario and British Columbia, Canadian provinces. The reason is still the same – lack of permissions.
In July last year, the broker notified its clients that its license had expired and that its activities would be suspended in this regard. However, he also promised customers that their funds were safe and available for withdrawal at any time, promising to resume operations immediately upon obtaining a license.
However, the broker never updated the license. But he launched the Russian-language version of the website …
