CONSOB took regulatory action against AllTradeMarkets and CFD2FXPRO in November 2019. The Italian regulator said the websites were offering investment services in Italy without the authorization required under Italian law.
The action was not a criminal fraud conviction. CONSOB ordered the cessation of the unauthorized activity and said Italian internet-service providers would block access to the named websites from Italy.
What CONSOB ordered
On November 6, 2019, CONSOB adopted two separate orders:
| Website | Entity identified by CONSOB | Resolution | Legal issue |
|---|---|---|---|
alltrademarkets.com |
UAB Elnira | No. 21135 | Alleged provision of investment services without authorization |
cfd2fxpro.com |
Lion Finance Ltd | No. 21133 | Alleged provision of investment services without authorization |
Both measures relied on Article 7-octies(1)(b) of Italy’s Consolidated Law on Finance (TUF) and concerned an alleged breach of Article 18 TUF. Article 18 reserves the provision of investment services and activities in Italy to properly authorized entities.
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On November 11, 2019, CONSOB announced that Italian connectivity providers had been ordered to block access to six unauthorized financial websites, including AllTradeMarkets and CFD2FXPRO. The regulator said the total number of websites blocked since July 2019 had reached 77.
Why the websites were blocked
The specific website-blocking power came from Article 36(2-terdecies) of Law No. 58 of June 28, 2019, commonly called the Growth Decree. That provision allowed CONSOB to instruct internet-service providers to prevent access from Italy to websites offering financial services without the required authorization.
In practical terms, the regulator’s action had two parts:
- The entities associated with the websites were ordered to stop carrying out the unauthorized investment activity.
- Italian internet providers were instructed to restrict access to the websites from Italy.
This is more precise than saying CONSOB “banned” the brokers. The orders were cessation and access-blocking measures. The official CONSOB material does not establish that either operator was criminally convicted of fraud.
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AllTradeMarkets: what the record says
CONSOB’s November 2019 materials associate UAB Elnira with alltrademarkets.com. The relevant measure is Resolution No. 21135, dated November 6, 2019.
A separate warning from Belgium’s Financial Services and Markets Authority (FSMA), published in February 2020, also listed AllTradeMarkets as a suspicious online trading platform. The FSMA said it had received complaints from consumers who reported being unable to recover money or losing contact with the platform, and described the cases as likely investment fraud.
That FSMA material should not be confused with the CONSOB order. CONSOB’s action addressed unauthorized investment activity. The later FSMA warning contained additional allegations based on complaints, but it was issued by a different regulator.
CFD2FXPRO: what the record says
CONSOB’s official materials associate Lion Finance Ltd with cfd2fxpro.com. The relevant measure is Resolution No. 21133, dated November 6, 2019.
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The CONSOB press release says the website was offering financial services without the required authorization. It does not say that CFD2FXPRO was proven to be a scam or that Lion Finance Ltd was criminally convicted of fraud.
That distinction matters when assessing online broker warnings. A regulator may take action because a firm is unauthorized, even where a particular fraud allegation has not been formally established. For a consumer, the lack of authorization is itself a serious reason not to deposit money or provide identity documents.
Do not confuse CFD2FXPRO with CFD2FX
CFD2FXPRO and CFD2FX were different domains and separate CONSOB proceedings.
| Domain | Date | Resolution | Entity identified |
|---|---|---|---|
cfd2fx.com |
September 19, 2019 | No. 21051 | Lion Finance Ltd |
cfd2fxpro.com |
November 6, 2019 | No. 21133 | Lion Finance Ltd |
The September order against CFD2FX does not replace or identify the November order against CFD2FXPRO. Articles that merge the two domains into a single website warning are inaccurate.
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What this means for anyone who dealt with these platforms
If you were contacted by either platform, or by a person claiming to represent it, treat requests for further payment with extreme caution. Common requests include “taxes,” “withdrawal fees,” “account-verification charges” or deposits needed to release an earlier balance. Paying more does not establish that a withdrawal will be processed.
Useful steps include:
- Stop sending money. Do not pay a recovery agent or a supposed regulator to unlock funds.
- Save evidence. Keep account statements, emails, chat logs, telephone numbers, wallet addresses, payment confirmations and screenshots of the website.
- Contact the payment provider quickly. Ask your bank, card issuer, electronic-money provider or cryptocurrency exchange what dispute or recall procedures are available. Recovery is not guaranteed, but delay can reduce the available options.
- Secure your accounts. Change passwords reused on the trading website, enable two-factor authentication and monitor bank and card activity.
- Report the matter. Contact the relevant police or financial regulator and provide the saved documentation.
Do not assume that a website using a familiar brand, displaying a professional dashboard or showing profits on screen is authorized. Check the firm and the exact domain against the regulator’s current register before transferring funds. A different domain, company name or spelling can indicate that the result does not apply to the website contacting you.
What the CONSOB record does—and does not—prove
| Supported by the official record | Not established by the CONSOB orders alone |
|---|---|
| CONSOB issued separate November 2019 cessation orders. | That either operator was criminally convicted of fraud. |
| The named websites were treated as offering investment services without the required authorization in Italy. | That every customer lost money. |
| Italian internet providers were ordered to block access from Italy. | That the websites are currently operating or currently blocked. |
| CONSOB associated UAB Elnira with AllTradeMarkets and Lion Finance Ltd with CFD2FXPRO. | Every corporate-registration detail repeated by third-party broker-review websites. |
As of August 7, 2026, CONSOB’s orders archive still lists Resolution No. 21135 for AllTradeMarkets and Resolution No. 21133 for CFD2FXPRO as 2019 measures. That confirms the historical regulatory action; it should not be described as a newly issued 2026 warning.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.FAQ
Did CONSOB declare AllTradeMarkets and CFD2FXPRO scams?
No. CONSOB’s official action concerned alleged unauthorized investment activity under Articles 18 and 7-octies of the TUF. The orders were not criminal fraud convictions. A separate 2020 FSMA warning described complaints involving AllTradeMarkets and referred to likely investment fraud, but that was a separate regulator’s warning.
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What were the CONSOB resolution numbers?
AllTradeMarkets was covered by Resolution No. 21135, adopted on November 6, 2019. CFD2FXPRO was covered by Resolution No. 21133, adopted on the same date.
Is CFD2FXPRO the same as CFD2FX?
No. CONSOB acted against cfd2fx.com in Resolution No. 21051 on September 19, 2019, and against cfd2fxpro.com in Resolution No. 21133 on November 6, 2019. They were separate domains and proceedings, although both were associated in CONSOB’s materials with Lion Finance Ltd.
Can I assume money will be recovered because CONSOB blocked the websites?
No. A regulatory access block does not guarantee compensation or recovery. If you sent money, contact your bank, card issuer or payment provider promptly, preserve all evidence and report the matter to the appropriate authorities.
Are these websites still active or blocked today?
The CONSOB archive records the historical 2019 orders. It does not, by itself, prove whether either website is currently operating or currently blocked. Do not rely on a live website as evidence of authorization; check the exact firm and domain against the current regulator register.
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Bottom line: CONSOB ordered the cessation of unauthorized investment activity associated with AllTradeMarkets and CFD2FXPRO on November 6, 2019, and announced on November 11 that Italian internet providers would block access to the websites. The correct resolution numbers are 21135 for AllTradeMarkets and 21133 for CFD2FXPRO. The action is strong evidence that the platforms were not authorized to provide investment services in Italy at the time, but it should not be overstated as a criminal fraud finding or confused with the separate CFD2FX proceeding.
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