CONSOB warns about WigMarkets and AvaCrypto

The Italian financial regulator CONSOB has published a warning about two unregulated crypto services.

The first warning is about the WigMarkets. It is a broker that offers trading with cryptcurrencies, but also with other assets like currencies or commodities.

The broker says that it is based in the UK, which means that it needs a licence from the FCA, since the trading happens via contracts for difference. But WigMarkets is not regulated at all, it has no authorization to provide investment services.

The second warning is about AvaCrypto Investment Plan. It is another investment service not authorized by any regulator.

For trading use regulated brokers.

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