The CONSOB has Issued Warning Against EuroTrades Scam & HashTrade Scam

The Commissione Nazionale per le Società e la Borsa (CONSOB) has recently issued a warning about two online trading service providers. According to Commissione Nazionale per le Società e la Borsa, the name of the first trading service provider is EuroTrades. The name of the second trading service provider is HashTrade.

In the warnings, the Commissione Nazionale per le Società e la Borsa has warned the investment community in Italy to be vary of EuroTrades and HashTrade. As per the regulatory authority, both platforms have allegedly misled the investment community in Italy.

The platforms have done it by concealing their true intentions and have claimed they are regulated financial services providers in Italy. The platforms claim that they have received authorization from the respective regulatory authority in Italy to operate in the country.

This way, the investment firms have managed to target people in Italy and have lured them into making investments at these firms. As reported by the CONSOB, both platforms are offering diverse securities to investors. The financial securities being offered by these trading service providers include forex, CFDs, indices, equity, and commodities.

Warning Issued against EuroTrades & HashTrade

According to CONSOB, EuroTrades & HashTrade both are involved in making false claims about their legal status in the Italian investment market. Both platforms claim that they have the license that allows them to operate and offer financial securities to Italian locals.

The platforms claim they have approval from the Commissione Nazionale per le Società e la Borsa to offer trading services for the financial securities. The claim means that it is safe for the investors in Italy to invest their money through EuroTrades & HashTrade.

However, it is unsafe to trade through these trading service providers as the investors may end up losing funds. Unfortunately, the investors end up losing funds through these platforms, they won’t be able to recover them. This is because these trading platforms are not regulated or governed by any laws at all.

EuroTrades & HashTrade are Unregulated Trading Service Providers

The Commissione Nazionale per le Società e la Borsa has revealed that both platforms have acquired no license from CONSOB to operate in Italy. Therefore, it is completely unsafe for investors in Italy to connect themselves with either of the trading platforms.

The regulator has shared its concern over the operations of both trading service providers. In order to operate in Italy, any financial service provider needs to have the license to operate and provide financial securities in the country.

Therefore, as EuroTrades & HashTrade do not have the license to operate in Italy, it is not advised for Italian investors to give their money to either of them.

Action Taken by CONSOB

Having established the true status of both online trading service providers, the regulatory authority has reportedly taken action against them. The regulatory authority has added the websites of both platforms to the blacklist. This way, the Commissione Nazionale per le Società e la Borsa will be able to provide more security to the investors.

According to the Commissione Nazionale per le Società e la Borsa, it has taken the measure in order to keep the investors away from the unregulated financial service providers.

Information about EuroTrades & HashTrade

EuroTrades can be accessed through its website address: https://www.eurotrades.com/. On the website, EuroTrades claims to be offering forex, CFDs, indices, equity, and commodity trades. The contact details provided by EuroTrades include landline: +441612500824 and email address: support@Eurotrades.com.

As for HashTrade, the website for the particular trading service provider is https://hashtrade.pro/. Similar to EuroTrades, HashTrade claims it provides trading services in instruments such as forex, indices, shares, and commodities. HashTrade reportedly provides support through a support email that is compliance.eng@hashtrade.po.

Both trading platforms claim they are strictly adherent to the KYC and AML policies. HashTrade claims that it is owned by Xertz Consulting Limited Company. The registration number that HashTrade provides for its business is 2020/IBC00063.

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