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Unregistered businesses

Businesses or individuals offering financial products or services in New Zealand are registered on the Financial Service Providers Register (FSPR).

The following businesses/individuals are not registered on the FSPR, which means they are not allowed to offer financial services in New Zealand, even if they say they are.

We strongly recommend that you do not invest money through any of these businesses/individuals.

Name of business/individual Date published Additional information

Name of company: Binary Selections
Website: http://binaryselections.com/

 7 December 2016 The FMA recommends exercising caution before dealing with Binary Selections. We understand Binary Selections has no association with Forex Limited. Binary Selections do not hold a derivatives issuer licence and is not registered to provide financial services in New Zealand. 

Name of company: TCA Financial
Website: http://tcafinancial.com

 9 November 2016 TCA appears to have the characteristics of a boiler room fraud. Securities & Futures Commission of Hong Kong (SFC) added TCA to their alert list in August 2016 and advised that TCA is not located at the Hong Kong address stated on the TCA website. You can see the SFC alert here.

Name of company: Exo Capital Markets Limited trading as Trade 12
Website: www.trade12.com 
Address: Ajetlake Road, Majuro, Marshall Islands

9 November 2016

The FMA has received reports that Exo Capital Markets Limited, trading as Trade12, has cold called New Zealand residents offering trading accounts.  The company is not registered on the FSPR and therefore they are not allowed to offer financial services in New Zealand.  We recommend exercising caution when dealing with this company. Earlier the FMA noted a warning by Italy’s regulator, Commissione Nazionale per le Societa la Borsa (CONSOB).

Name of company: The Retirement Shop T/A TRS Online
Website: http://trsonline.net
Address: 54 Threadneedle Street, London EC2R 7AP
Phone: +44 203 455 7676
Email: info@trsonline.net

8 November 2016

The FMA has received a report that TRS Online is making unsolicited calls to New Zealand residents and providing UK pension transfer services to New Zealand residents. Also, the advice provided by TRS Online may be misleading and may create a false sense of urgency to arrange for the pension transfer. The Retirement Shop T/A TRS Online is not registered on the FSPR and is therefore not allowed to offer financial services in New Zealand.
Date published: 8 November 2016

Name of company: CMS Trader
Website: www.cmstrader.com/

17 October 2016

CMS Trader, Pandorx Ventures Limited, CMS Ventures Limited, and Steven David Hutton are not registered in New Zealand to offer financial services in or from New Zealand. If you have invested with CMS Trader or had contact with parties connected to it, FMA would like to hear from you. Please contact our helpline on 0800 434 567.
The FMA notes recent warnings by the Ontario Securities Commission and the Financial Conduct Authority in relation to CMS Trader.
FMA has general information about overseas brokers and cold calling scams available here

Name of company: Tall Options
Website: www.talloptions.com  

17 October 2016

The FMA is concerned that Tall Options is claiming to be authorised to provide investment services in New Zealand when this is not the case.  We have also received reports that Tall Options uses the bank account of Corporate Enterprises PTY Limited. We published a warning about this business on 7 October 2016.  Tall Options and Corporate Enterprises PTY Limited are not registered on the FSPR and therefore they are not allowed to offer financial services in New Zealand.

Name of company:  Corporate Enterprises PTY Limited t/a Option Giants
Website:  www.optiongiants.com and www.ogmvp.info
Address:  68 Russell Street, Westport, 7825 New Zealand

7 October 2016

The Financial Markets Authority notes that Canada’s regulator, the Financial and Consumer Affairs Authority (Government of Saskatchewan) has issued a Notice of Application to Extend a Temporary Order in which Options Rider and Option One (Aust) Pty Ltd shall cease trading in securities in Sasktachewan, cease acquiring securities for and behalf of residents of Saskatchewan and cease giving advice respecting securities in Saskatchewan.
We note that the director of Option One (Aust) Pty Limited is the director of Corporate Enterprises PTY Limited ,trading as Option Giants, about whom we have received reports of client funds being withheld. We also refer to our warning published about Options Rider in October 2015.  

Name of company:  Greenberg International Law & Tax
Website: 
www.greenberglawandtax.com

23 September 2016

The Financial Markets Authority notes warnings about Greenberg International Law & Tax by the following regulators:

Name of company: Titan Trade
Website: https://titantrade.com/
Address: 35 Barrack Road, Third Floor, Belize City, Belize

7 September 2016  The Financial Markets Authority notes a recent warning by the Australian Securities and Investment Commission against conducting business with Titan Trade on 4 August 2016.  

Name of company: Baumann Group 
Website: www.baumanngroup.com
Address: Suite 2302, 20 Adelaide Street East, Toronto, Ontario MC5 2TG, Canada

11 August 2016 The FMA has received a complaint about Baumann Group from a New Zealand resident who advised Baumann Group is offering New Zealanders the ability to purchase US stocks at a discount. Baumann Group is not registered to provide financial services in New Zealand.

Name of company:  IntegraOption
Website: https://www.integraoption.com/
Associated businesses: C.G Capital Investments Limited; TradeSolid

02 August 2016 The Financial Markets Authority notes recent warnings by the Swiss Financial Market Supervisory Authority (FINMA) in relation to IntegraOption. The warning is available here.
If you have invested with IntegraOption or had contact with parties connected to it, FMA would like to hear from you. Please contact our helpline on 0800 434 567.

Name of company:  PFM Trading Inc.
Website: http://pfm-trading.com

29 July 2016

The FMA notes recent warnings by the Australian Securities and Investment Commission in relation to PFM Trading Inc. The warning is available here.
If you have invested with PFM Trading Inc. or had contact with parties connected to it, FMA would like to hear from you. Please contact our helpline on 0800 434 567.

Name of company: Carlton Church
Website: www.carlton-church.net

27 July 2016 The FMA has received reports that Carlton Church has been cold calling New Zealand residents offering the chance to purchase US listed equities.  Carlton Church is not registered to provide financial services in New Zealand.

Name of company:  ACI
Website: www.acifxgold.com

15 July 2016 The FMA is concerned about claims on the website www.acifxgold.com which imply the business is regulated in New Zealand and associated with Apex Capital Investments Limited, the former name of a New Zealand incorporated company.  Having engaged with the New Zealand company we understand that there is in fact no connection between the website www.acifxgold.com and the company, nor are the activities of the website subject to regulation in New Zealand.

Name of company:  Zlato Capital, trading as ZCFX
Website: www.zlatocapital.com

08 July 2016

The FMA has received three complaints about Zlato Capital from overseas-based residents. They complained that there is misleading information on Zlato Capital website about the extent to which Zlato Capital is regulated in New Zealand. Zlato Capital is not registered to provide financial services in New Zealand.

Name of company: Spindler & Partner LLP
Website: spindler-partner.com

6 July 2016   The FMA notes the Jersey Financial Services Commission have recently issued a warning about Spindler & Partner LLP. While Spindler & Partner LLP’s website indicates they operate in New Zealand, this business is not incorporated or registered as a Financial Service Provider in New Zealand. If you have invested with Spindler & Partner LLP or had contact with individuals connected to it, FMA would like to hear from you. Please contact our helpline on 0800 434 567.

Name of company: FM Trader
Website: http://fmtrader.com/60seconds/

9 June 2016

The FMA understands FM Trader has been cold calling New Zealand residents without being a registered New Zealand company or registered on the Financial Services Providers Register.
We also note that The Australian Securities and Investment Commission have posted a warning about this business: https://www.moneysmart.gov.au/scams/companies-you-should-not-deal-with/unlicensed-companies-list/f/fm-trader

Name of company: Hangsiu Group Limited
Website: www.hangsiugroup.com

26 April 2016

The FMA is concerned that the website of Hangsiu Group Limited claims that the company is authorised and regulated by the FMA and can guarantee security of customers funds.  We note that Hangsiu Group Limited was deregistered from the Financial Service Providers Register on 9 April 2016 and the company is not registered to provide financial services in New Zealand.

Name of company: Suisse Limited trading as ECN Markets
Website: http://www.ecnmarkets.com/
Address: #25 Mason Complex, Stoney Ground Road, The Valley, PO Box 193, Anguilla

16 March 2016

The FMA has received two complaints about ECN Markets from overseas-based residents. They complained that there is misleading information on ECN Markets website about the extent to which ECN Markets is regulated in New Zealand. ECN Markets is not registered to provide financial services in New Zealand.

 

Name of company: DGM Service Markets Limited
Website: www.dgmfx.com

8 March 2016 The FMA is concerned that the website of DGM Service Markets Limited, www.dgmfx.com, claims that the company is a FSP registered futures agent and entitled to hold client funds. We note that DGM Service Markets Limited was deregistered from the Financial Service Providers Register on 7 November 2014 and the company is not registered to provide financial services in New Zealand.

Name of company: Capital Market Investments Limited
Websites: http://www.noafx.com and http://www.cmigroup.co.nz
Addresses: Level 10-3, SAP Tower, 151 Queen Street, Auckland 1010, New Zealand and Level 1, 4 Bond Street, Wellington 6011, New Zealand.

23 February 2016 The FMA is concerned that on the website http://www.noafx Capital Market Investments Limited is claiming to be registered in New Zealand as a financial service provider and also a member of a disputes resolution scheme when in fact it is neither.  The company is not operating under the strict licensing and regulation requirements of New Zealand, as claimed.
Name of company: Fidelis International Trading Limited
Website: 
http://www.fidelisinternationaltrading.com
Address: 
A82 Symonds St, Auckland Central, Auckland 1010, New Zealand
22 February 2016 The FMA has received complaints from overseas-based customers of Fidelis International Trading Limited about Fidelis’ failure to repay clients in accordance with their instructions.
Fidelis International Trading Limited is not registered to provide financial services in New Zealand.

Name of company: BO Technologies Limited trading as Option Financial Markets or Option FM
Website: https://option.fm/
Associated business: Artemis Technologies Limited

19 January 2016

The Financial Markets Authority notes recent warnings by the Australian Securities and Investment Commission, Securities and Futures Commission in Hong Kong and the Ontario Securities Commission in relation to B.O. Technologies Limited trading as Option Financial Markets (OptionFM).

The respective warnings are available through the below links:

FMA has general information about overseas brokers and cold calling scams available through the following links:

If you have invested with Option FM or had contact with parties connected to it, FMA would like to hear from you.

Please contact our helpline on 0800 434 567.

Name of company: Fund Access Limited
Address: 27/F E-Trade Plaza, Lee Chung Street, Chai Wai, Hong Kong
Website: www.fundaccessltd.com

24 November 2015

The FMA is concerned that Fund Access Limited has failed to respond to our requests for details of their business activities, following complaints from the public.

Fund Access Limited is not registered to provide financial services in New Zealand.
Name of company:  brgfx.com
Website: www.brgfx.com
1 October 2015 The FMA is concerned that the website www.brgfx.com claims to be regulated in New Zealand when this is not the case.
Name of company:  Options Rider
Website: www.optionsrider.com
1 October 2015 The FMA is concerned that Options Rider is claiming to be regulated in New Zealand when it is not.  We have received reports that the company has claimed to be authorised and regulated by the New Zealand Securities and Exchange Commission.  We note that there is no New Zealand Securities and Exchange Commission and Options Rider is not regulated as a financial service provider in New Zealand.

Name of company:  MercerFX
Website: 
www.mercerfx.com

1 October 2015 The FMA is concerned that the website makes false claims regarding its registration on the Financial Service Providers Register (FSPR). 

The website refers to Mercer Capital New Zealand and Mercer Capital Limited.  Mercer Capital New Zealand is not registered as a company in New Zealand. 

Mercer Capital Limited was registered as a company in New Zealand with company number 4861160 but has since been struck off. Neither Mercer Capital New Zealand nor Mercer Capital Limited is registered on the FSPR.  We are also concerned that the website has previously quoted the FSP number of an unrelated company that is genuinely registered.

Name of company: Tilney Asset Management
Associated person:
 
Christopher Michael Hall
Website: 
www.tilneyassetmngt.com

13 August 2015 The FMA is concerned that Tilney Asset Management is cold calling New Zealand residents offering financial services for which it is not registered, authorised and/or licenced to provide under New Zealand financial markets legislation.

Name of company: Market Investment Associates Limited
Website: 
www.marketinvestments.com

13 August 2015 The FMA is concerned that Market Investment Associates Limited is claiming to be registered on the financial service providers register when this is not the case.

Name of company: AIO Global Limited
Website: 
www.aiofx.com

12 August 2015 The FMA is concerned that AIO Global Limited is claiming to be registered on the financial service providers register when this is not the case.

Name of company: Green Gardens Finance Trust Limited
Name of person: Hsin-yun Li, Director
Address: Level 10, 175 Queen Street Auckland Central, Auckland 1010
Website: http://ggfinance.co.nz

27 July 2015 The FMA has issued a stop order against Green Gardens Finance Trust Limited and warns the public to be wary of depositing money or dealing with this company.

Name of company: Grandegoldens Pty Limited
Associated person: Dave Stone
Website: www.grandegoldens.com 
Address: 369, Queen Street Auckland Central Auckland

28 May 2015 The FMA is concerned that Grandegoldens continues to solicit client money through its website despite its recent deregistration, and about the false and misleading aspects of its website.

Grandegoldens was deregistered from the FSPR with effect from 16 May 2015.

Name of company: E1 Asset Management, Inc.
Website: www.e1am.com
Address: 44 Wall Street, 9th Floor, New York, NY 10005, USA

May 2013

E1 Asset Management has been making unsolicited contact with NZ residents via email and telephone, offering share broking and financial adviser services. It is not registered or authorised in NZ to offer these services. Financial markets regulators in the UK, Netherlands and Gibraltar have also issued warnings about this business.

If you become aware of anyone not registered on the FSPR but offering financial services, please contact the FMA.

If you are the subject of a warning on this page and wish to be removed from the list, please see our takedown policy