Consob Blocks 7 Fraudulent Investment Websites Amid Ongoing Crackdown

Italys financial regulator Consob has ordered the blocking of seven more websites accused of illegally offering financial services or products to investors. The decision, announced on June 20, 2025, targets six unauthorized financial intermediaries and one firm promoting unregistered financial products without the required prospectus.

The action was taken under legislative powers granted by Italys “Growth Decree” (Law No. 58/2019) and later strengthened by Law No. 8/2020, allowing the regulator to shut down digital platforms engaged in unlawful financial activity. The latest round of enforcement brings the total number of blacklisted websites to 1,360 since July 2019.

The websites now blocked include:

• EXT24 – [ext247.co] and [my.ext247.co]
• Rgroupltd – [rgroupltd.cm], including [client.rgroupltd.cm] and [webtrader.rgroupltd.cm]
• Trevorex – [trevorrex.com] and [app.trevorrex.com]
• AHP – [ahpcmg.com]
• QW Limited – [quantumwins.com], [webtrader.quantumwins.com], and [mobtrader.quantumwins.com]
• Tradepower – [tradepower.pro], [client.trade-power.pro], and [bestrader.io]
• Magnomic Yield Ltd – [magnomicyieldltd.com]

These platforms were found to be providing investment services or soliciting public offerings without authorization or registration, posing significant risks to retail investors.

While the blackouts are currently being implemented by internet service providers within Italy, Consob notes that technical delays may result in a brief window before full enforcement takes effect.

Consob urges the public to exercise caution when approached by unfamiliar online investment services, especially those involving forex, crypto assets, or unsolicited financial promotions. Verifying the regulatory status of any investment firm or product is critical before committing funds.

To further minimize risk, using verification tools like WikiFX can assist in assessing broker legitimacy, reading user reviews, and identifying past complaints or violations—helping investors make safer, more informed choices.