Resolution no. 23607 of 19 June 2025

Order, pursuant to article 7-octies, paragraph 1, letter b) of Legislative Decree no. 58/1998 (“Consolidated Law on Finance”) to cease the breach of article 18 of the Consolidated Law on Finance carried out via the https://tradepower.pro website and the respective web pages https://client.trade-power.pro and https://bestrader.io

LA COMMISSIONE NAZIONALE PER LE SOCIETÀ E LA BORSA
 [THE NATIONAL COMMISSION FOR COMPANIES AND THE STOCK EXCHANGE]

HAVING REGARD to Law no. 216 of 7 June 1974, as subsequently amended and supplemented;

HAVING REGARD to Legislative Decree no. 58 of 24 February 1998 (“Consolidated Law on Finance”), as subsequently amended and supplemented;

HAVING ESTABLISHED that, from checks on the web, it emerged that:

1. potential investors are offered the opportunity, through the website https://tradepower.pro – which is active, available also in Italian through automatic translations systems and registered anonymously – to trade CFDs on currencies, shares, commodities, indices and crypto-currencies via a trading platform;
2. in order to place such trades, users must register with the https://tradepower.pro website through a procedure that is also available to Italian users, then open a trading account and deposit the necessary funds. After registering, users gain access to the restricted area at the URL https://client.trade-power.pro where they can, among other things, deposit funds into their trading account and access the trading platform available at the URL https://bestrader.io;
3. as to traceability, the https://tradepower.pro website contains generic references to “Tradepower” with registered office allegedly in London and the email address support@tradepower.pro is provided;

WHEREAS the activity carried out via the https://tradepower.pro website and the https://client.trade-power.pro and https://bestrader.io pages constitutes the provision of investment services, as referred to in article 1, paragraph 5, of the Consolidated Law on Finance, insofar as users are offered the opportunity via the aforementioned domains to open a trading account and place orders to buy and/or sell financial instruments;

WHEREAS the above activity, carried out via the https://tradepower.pro website and the pages https://client.trade-power.pro and https://bestrader.io, is still ongoing and is aimed at Italian investors, given that, in relation to the activities carried out through these domains, attempts to contact Italian customers have been reported, complaints have also been received from Italian investors who have stated that they have been unable to get back the sums deposited to make trades online in the above-mentioned domains and that there are no mechanisms to prevent registration by users attempting to sign up to the said website from Italy via Italian IP addresses;

WHEREAS the https://tradepower.pro website and the https://client.trade-power.pro and https://bestrader.io pages cannot be attributed to any entity authorised to provide investment services to the Italian public;

HAVING REGARD to the fact that the provision of investment services and activities is reserved to licensed parties as referred to under article 18, paragraph 1, of the Consolidated Law on Finance, pursuant to which “The commercial provision of investment services and activities to the public is reserved to Italian investment firms, EU investment firms, Italian banks, EU banks and non-EU firms”;

HAVING ESTABLISHED, therefore, that the activities in question qualify as the professional provision of investment services to the Italian public, in breach of Article 18, paragraph 1 of the Consolidated Law on Finance;

HAVING REGARD to the provisions of Article 7-octies, letter b) of the Consolidated Law on Finance - “Powers to counteract unauthorised provision of investment services” - pursuant to which Consob “may, with regard to anyone who offers or carries out investment services or activities over the Internet without being qualified to do so pursuant to this decree: […] b) order that the infringement cease”;

CONSIDERING it therefore necessary, in the light of the foregoing, to adopt this Resolution immediately for reasons of urgency;

RESOLVES:

To order the cessation of the infringement of article 18 of Legislative Decree no. 58/98 carried out via the https://tradepower.pro website and its https://client.trade-power.pro and https://bestrader.io webpages constituted by the offer and provision of investment services and activities to the Italian public.

This Resolution shall be brought to the attention of the concerned parties and published in the Consob Bulletin.

This measure may be appealed before the Regional Administrative Court of Lazio within 60 days of the date of service.

THE CHAIRMAN
Paolo Savona