Axiancefx ( - Investment Analysts (, page - Switchtrades Ltd (, page - Top Markets Ltd (, page - BTC System Pty Ltd (

Consob has ordered the black-out of 5 new websites that offer financial services illegally.

The Authority availed itself of the powers deriving from the "Decreto crescita" ("Growth Decree"; Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the basis of which Consob can order Internet service providers to block access from Italy to websites offering financial services without the proper authorization.

Below are the websites Consob has ordered to be blacked out:

- "Axiancefx - (website;

- "Investment Analysts" - (website and related page;

- Switchtrades Ltd - (website and page;

- Top Markets Ltd - (website and related page;

- BTC System Pty Ltd (website

The number of websites blacked out since July 2019, when Consob got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 955.

The measures adopted by Consob can be consulted on the website

The black-out of these websites by Internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the black-out to come into effect.

Consob draws investors' attention to the importance of adopting the greatest diligence in order to make informed investment choices, adopting common sense behaviors, essential to safeguard their savings: these include, for websites that offer financial services, checking in advance that the operator with whom they are investing is authorized, and, for offers of financial products, that a prospectus has been published.

To this end, Consob would remind you that on the website there is a section on the homepage, "Watch for Scams!", providing useful information to warn investors against financially abusive initiatives.


Consob has ordered the same subjects to cease the violation of Article 18 of Legislative Decree no. 58 of 24 February 1998, pursuant to article 7-octies, letter b) of the same legislative decree:

- Axiancefx through the website (resolution no. 22853 of  18 Octobere 2023);

- Investment Analysts through the website and page (resolution no. 22854 of 18 October 2023);

- Switchtrades Ltd through the website and page (resolution no. 22851 of 18 October 2023);

- Top Markets Ltd  through the website www.europetrade.m and page (resolution no. 22852 of 18 October 2023);

- BTC System Pty Ltd through the website (resolution no. 22850 of  18 October 2023).

(Published in Consob Informa" no. 35/2023 of 23 October 2023)