1. News and resources
  2. Warnings and alerts
  3. Businesses to be wary of

Businesses to be wary of

The FMA is committed to protecting investors from businesses who are (or have been) registered on the Financial Service Providers Register (FSPR) but are the subject of complaints about loss of investor funds, or other serious misconduct that suggests customers may lose money.

If we receive a complaint about a business or individual registered on the FSPR, we will ask for an explanation, and expect a response.

The following businesses/individuals have either not responded, or not provided a satisfactory response to a request by us for information about a complaint. 

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: Pinnacle Invest Group Ltd
Website:
www.pinnacleinvest.com

23 April 2018 The FMA has received reports that US based Pinnacle Invest Group Ltd is cold calling New Zealand residents and withholding client funds. The FMA considers that Pinnacle has the characteristics of a scam. It is not a registered New Zealand Company and is not registered to provide financial services in New Zealand. The FMA recommends exercising caution before dealing with Pinnacle Invest Group Limited.

Name of company: Independent Brokers LLC
Website: 
www.independentbrokersllc.com
Address: 
55 Broad Street, New York NY 10004, United States of America

20 April 2018 The FMA recommends exercising caution before dealing with Independent Brokers LLC (IBL). We have received a report that persons purporting to be representatives of IBL have cold-called New Zealanders in breach of financial markets legislation. We are concerned that those persons have misappropriated details from a legitimate business, Independent Brokers LLC , and the website www.independentbrokersllc.com may be operating a scam. IBL is not registered to provide financial services in New Zealand. IBL is also claiming to be registered with FINRA but this registration has expired. It also claims SIPC registration but there is no evidence of this.

Name of company: Woodward Partners Panama 
Website: www.woodward-partners.net 
Address: Azuero Business Center, Suite 703, Avenida Perez Chitre, Panama 00395

23 April 2018 The FMA warns members of the public not to invest with, or to exercise caution before dealing with Woodward Partners Panama. We have received a report from a New Zealand resident of unreasonable or unexplained withholding of client funds by Woodward Partners Panama. Woodward Partners Panama is not a registered financial services provider and therefore not able to legally offer financial services in New Zealand. Woodward Partners Panama has no relationship whatsoever with Woodward Partners Securities Limited, an NZX Advising Participant based in New Zealand.

Name: Options Global Ltd
Website: www.options-global.com

17 April 2018 The FMA has received reports that UK based Watford, Dunning & Partners Ltd (Watford Dunning) is cold calling New Zealand residents and offering the purchase of call and put options through Options Global Ltd (Options Global). Watford Dunning claim to be a UKFTA registered introducing broker. The FMA has identified the UKFTA to be ‘The United Kingdom Financial Trading Authority’ which is not a legitimate regulator. Watford Dunning and Options Global are not registered New Zealand Companies and are not registered to provide financial services in New Zealand. The FMA recommends exercising caution before dealing with Watford, Dunning and Partners Limited and Options Global Limited.   

Name: Watford, Dunning & Partners Ltd
Website: 
www.watforddunning.com

17 April 2018 The FMA has received reports that UK based Watford, Dunning & Partners Ltd (Watford Dunning) is cold calling New Zealand residents and offering the purchase of call and put options through Options Global Ltd (Options Global). Watford Dunning claim to be a UKFTA registered introducing broker. The FMA has identified the UKFTA to be ‘The United Kingdom Financial Trading Authority’ which is not a legitimate regulator. Watford Dunning and Options Global are not registered New Zealand Companies and are not registered to provide financial services in New Zealand. The FMA recommends exercising caution before dealing with Watford, Dunning and Partners Limited and Options Global Limited.  

Name: Nona Marketing Limited and Albius Limited
Trading name: FTO Capital (also known as
Financials Trading Online)
Website: www.ftocapital.com
Address: Nona Marketing Limited, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshal Island.
Albius Limited, 53-55 Totleben Blvd, Sofia, Bulgaria

17 April 2018 The FMA recommends exercising caution before dealing with FTO Capital. We have received reports that representatives of FTO Capital are cold calling New Zealand residents. We have also received reports of unreasonable or unexplained withholding of client funds FTO Capital. FTO Capital is not registered to provide financial services in New Zealand and there not able to legally offer financial services in New Zealand. The FMA also notes the warnings issued by the Australian Securities and Investments Commission and the Monetary Authority of Singapore.

Name: Herrand Associates
Website: http://herrandassociates.com/

17 April 2018 The FMA warns members of the public not to invest in, or to exercise caution before dealing with Herrand Associates, and that Herrand Associates is not registered as a Financial Services provider in New Zealand and is therefore not allowed to offer financial services in New Zealand.

Name: Crafters & Co. Limited
Address: 37 Barnard Street, Wadestown, Wellington 6012

16 April 2018 The FMA is concerned about misleading or deceptive statements included in an investment memorandum for Crafters & Co. Limited which was used as part of a crowdfunding campaign.  Crafters & Co. Limited made statements regarding its financial position in the investment memorandum; the FMA considers that a number of these statements were misleading or deceptive, or were likely to mislead or deceive.

Name: Hakopa, Williams and Partners
Website: www.hakopawilliams.com

12 April 2018 Hakopa, Williams and Partners is not a registered New Zealand Company and is not registered to provide financial services in New Zealand.  We have received a report that representatives of Hakopa, Williams and Partners are referring investors to a fake New Zealand regulator (Monetary Exchange Commission of New Zealand) to validate the company.  The FMA recommends exercising caution before dealing with Hakopa, Williams and Partners as it has the characteristics of a scam.

Name: Monetary Exchange Commission of New Zealand
Website:  www.mecnz-govt.org

12 April 2018 The FMA is concerned that the Monetary Exchange Commission of New Zealand is claiming to be a New Zealand financial services regulator and endorsing products and services from questionable sources including, Hakopa, Williams and
Partners. The Monetary Exchange Commission of New Zealand is not a valid financial services regulator in New Zealand. We strongly advise caution when considering any financial products or companies endorsed by this organisation.

Name: Markets Trading Ltd
Website:  www.markets-trading.com

5 April 2018 The FMA notes the warning by the Financial Conduct Authority (FCA) in the UK, that Markets Trading Ltd is not authorised by the FCA and they believe it is carrying on regulated activities which require authorisation.

Name of company: Mahi-FX
Website: www.mahi-fx.com

21 March 2018 The FMA recommends exercising caution before dealing with website www.mahi-fx.com. Mahi-FX is not a New Zealand registered company and are not associated with, nor an authorised representative of, MahiFX Limited. The website www.mahi-fx.com is displaying MahiFX Limited’s company and FSPR registration details without authority. The FMA recommends exercising caution to ensure the correct website for MahiFX Limited is accessed.

Name: www.lansforex.com
Address: Nit 01, 7/F. Bright Way Tower, No.33 Mong Kok Road, Kowloon, Hong Kong

21 March 2018 The FMA recommends exercising caution before dealing with the website www.lansforex.com. This website is not operated by nor associated with the Lan’s Enterprise Limited,and it is displaying Lan’s Enterprise Limited’s company and FSPR registration details without authority. Lans-FX is not registered, licensed, supervised or authorised in any way by the FMA or any other branch of the New Zealand Government.

Name: Kapuni Ventures
Website: www.kapunivent.com

1 March 2018 We have received a report that representatives of Kapuni Ventures are referring investors to a fake New Zealand regulator (Financial Investments and Conduct Commission) to validate the company.  Kapuni Ventures is not a registered New Zealand Company and is not registered to provide financial services in New Zealand.  The FMA recommends exercising caution before dealing with Kapuni Ventures as it has the characteristics of a scam.

Name: Queue Option
Address: 5847 San Felipe, Suite 2600 Houston, Texas
Phone: +1 6085727315
Email: support@queueoption.com

1 March 2018

The FMA recommends exercising caution before dealing with Queue Option. We have received a report from a New Zealand resident of unreasonable or unexplained withholding of client funds by Queue Option. Queue Option is not registered to provide financial services in New Zealand.

Name of Business: Expat Local
Website: http://www.expatlocal.com/

28 February 2018 The FMA warns members of the public not to invest in, or to exercise caution before dealing with Expat Local, and that Expat Local is not registered as a Financial Services provider in New Zealand and is therefore not allowed to offer financial services in New Zealand.

Name: Foreign Investment and Conduct Commission
Website: www.ficc-govt.org  

20 February 2018 The FMA is concerned that the Foreign Investment and Conduct Commission is claiming to be a New Zealand financial services regulator and endorsing products and services from questionable sources. Foreign Investment and Conduct Commission is not a valid financial services regulator in New Zealand. We strongly advise caution when considering any financial products or companies endorsed by this organisation.

Name: 10Trading
Website: http://www.10trading.com

9 February 2018 FMA notes the warning by The Commissione Nazionale per le Societa e la Borsa (CONSOB), the public authority for regulating the Italian financial markets, that the companies Binext Solutions srl and Binext Global Ltd are not authorised to provide investment services and activities in Italy by any means and, therefore, including the website 10trading.com. 

Name: ABC123 Group
Website: www.abc-123.co
Business address: Level 12, World Trade Plaza, 1 Austin Road West, Tsim Sha Tsui, Hong Kong
Telephone: +85 237268501
Emails: ac@abc-123.co , ib@abc-123.co , support@abc-123.co

8 February 2018 We are concerned that ABC123 Group is holding out it is registered on the FSPR when it is not and that they may be offering derivatives to New Zealand retail clients without holding a derivatives licence under the FMC Act. We are also concerned about a number of other incorrect statements on ABC123 Group’s website, in particular relating to the regulation of New Zealand’s financial markets.

Name of company: Capital Strategy Partners (CSP)
Address: Dai Tokyo Kasai Nihonbashi Building, Tokyo-to, Tokyo 103-0027, Japan.
Email: info@capitalstrategypartners.com
Telephone: +81 3 4577 9967

18 January 2018

FMA has received a report from a New Zealand based investor who had invested with CSP and later experienced difficulty in withdrawing the invested funds. CSP is not registered as a financial service provider in New Zealand and is therefore not permitted to provide financial services to New Zealand residents. FMA also notes recent warning by the Australian Securities and Investments Commission (ASIC) in relation to Capital Strategy Partners. It is noted on the warning that CSP could be involved in a scam and is an unlicensed entity in Australia. The warning also states that the entity makes unsolicited calls or sends unsolicited emails.

Name of business: GSI Markets
Website: www.gsimarket.com

17 January 2018 

The Financial Markets Authority notes warnings by the Financial Conduct Authority in the UK that GSI Markets is not authorised to provide financial services or products and the Australian Securities and Investment Commission advises that GSI Markets has made unsolicited calls or sent emails about investing, financial advice, credit or loans and does not hold a current Australian Financial Services (AFS) licence or an Australian Credit licence from ASIC.

Name of company: UB4Trade (owned and operated by Finatex Ltd)
Website: www.ub4trade.com

29 December 2017 The FMA recommends exercising caution before dealing with UB4Trade owned and operated by Finatex Ltd. We have received a report of acting outside the client instruction and unexplained withholding of client funds by Finatex Ltd. Finatex Ltd is not registered to provide financial services in New Zealand. 

Name of company: Fitch Matthews Wealth Management Fitch Matthews Wealth Management trading as FM Wealth Management
Website: www.fmwealthmanagement.com
Address: Cayman Islands, 638 West Bay Road

4 December 2017

The FMA have received reports that representatives of Fitch Matthews Wealth Management are cold calling and offering investment opportunities to New Zealand residents. Fitch Matthews Wealth Management is not registered on the FSPR therefore is not permitted to provide financial services to New Zealand residents

Name of company: Bridge Capital Advisors
Website: www.bridgecapitaladvisors.com
Address: Lot E008, Bangunan Financial Park, Labuan 8700, Wilayah Persekutuan, Labuan, Malaysia
Tel: +60 3 9212 6621

17 November 2017

The FMA notes a warning by The Australian Securities and Investments Commission (ASIC) that Bridge Capital Advisors could be involved in a scam and is an unlicensed entity in Australia.  The warning also states that the entity makes unsolicited calls or sends unsolicited emails.

Name of company: US International Investment Trade Authority
Website:  www.us-iita.org

16 November 2017

The FMA is concerned that the ‘US International Investment Trade Authority’ is claiming to be a financial services regulator and endorsing products and services from questionable sources. We are not aware of any legitimate regulators called ‘US International Trade Authority’. 
We have received a report that representatives of US International Trade Authority are cold calling New Zealand residents. We strongly advise caution when considering any financial products or companies endorsed by this organisation.

Name of company: Apex Capital AG
Website: www.apexcapitalag.com

16 November 2017 The FMA recommends exercising caution before dealing with Apex Capital AG. We have received a report that representatives of Apex Capital AG are involved with the cold calling of New Zealand Residents.  Apex Capital AG is not registered to provide financial services in New Zealand

Name of company: Johnson Financial Consulting
Website: https://www.johnsonfinancialconsulting.com
Address: Hibiya Kokusai Building 203 Uchisaiwai-cho 2 Chome Chiypda-Khu Tokyo 100-0011

9 November 2017 The FMA recommends exercising caution before dealing with Johnson Financial Consulting. We have received reports that representatives of Johnson Financial Consulting are cold calling New Zealand Residents. Johnson Financial Consulting are not registered to provide financial services in New Zealand.

Name of company: The Financial Service Provider Commission (FSPC)
Website: http://www.fspl-registry.org/
Address: unknown

13 October 2017 The FMA is concerned that the ‘The Financial Service Provider Commission’ is claiming to be a financial services regulator and endorsing products and services from questionable sources. We are not aware of any legitimate regulators called ‘The Financial Service Provider Commission’. We strongly advise caution when considering any financial products or companies endorsed by this organisation.

Name of company: BinaryTilt
Website: www.binarytilt.com
Address: 2nd Floor, 1-2 Broadgate, London, Greater London, EC2M 2QS, United Kingdom 

4 October 2017 The FMA recommends exercising caution before dealing with BinaryTilt. We have received reports that representatives of BinaryTilt are cold calling New Zealand Residents. We have also received reports of unreasonable or unexplained withholding of client funds by BinaryTilt. BinaryTilt Limited is not registered to provide financial services in New Zealand. We also note the following warnings from oversea regulators: ASICBritish Columbia Securities Commission

Name of company: Huayufx Limited
Website: http://www.huayufx.com/

15 September 2017 A website called www.huayufx.com purports to be associated with a NZ registered company, Fe Markets Limitd.  Our enquiries have determined that Huayufx is not associated with Fe Markets Limited. It appears an unidentified third party is involved. A Hong Kong phone number is advised on the website. New Zealand residents should exercise caution dealing with Huayu International Investment. 

Name of company:  Financial Markets Commission Board
Website:  http://fm-cb.com
Address: 14 Cornhill, London, EC3V 3DG

16 August 2017  The FMA is concerned that the ‘Financial Markets Commission Board’ is claiming to be a financial services regulator and endorsing products and services from questionable sources. We are not aware of any legitimate regulators called ‘Financial Markets Commission Board.’ We strongly advise caution when considering any financial products or companies endorsed by this organisation. 
Name of company: Huang Investments Limited (Hong Kong)
Website: www.huanginternational.com
Address: 4 Carnarvon Road, Tsim Sha Tsui, Kowloon, Hong Kong
26 July 2017 The FMA recommends exercising caution before dealing with Huang Investments Limited. We have received reports that representatives of Huang Investments Limited are cold calling New Zealand Residents. We have also received reports of unreasonable or unexplained withholding of client funds by Huang Investments Limited. Huang Investments Limited is not registered to provide financial services in New Zealand. The Financial Markets Authority also notes the warning made by SFC in Hong Kong in relation to Huang Investments 

Name of company: Stern Options (also known as Stern Binary Options) 
Website: www.sternoptions.com
Address: Stern European Support Centre, 5th and 6th Floors, Landmark Building, 14 Tsar Osvoboditel Blvd., Sofia, 1000, Bulgaria.

11 July 2017

The FMA recommends exercising caution before dealing with Stern Options. We have received reports that representatives of Stern Options are cold calling New Zealand Residents. Stern Options is not registered to provide financial services in New Zealand.

Name of company:  GC Venture Capital
Website:  www.gc-vc.com
Address:  Royal Exchange, London, EC3V 3DG

6 July 2017

The Financial Markets Authority notes warnings about by the following regulator:

Name of company: China Advisers
Website:  http://china-advisers.com
Address: C/O Canary Wharf, 25 Bank Street, Financial Centre, East London, UK

13 June 2017 We are concerned that China Advisers continues to solicit client money from New Zealand residents in spite of its inability to repay clients in accordance with their instructions, that China Advisers may be cold – calling New Zealand residents, and may be operating a scam. China Advisers is not a registered financial service provider and is not registered on the New Zealand Companies Register and is not licensed to provide financial services in New Zealand. It is unlawful to provide financial services without being registered.

Name of company: Corner Oaks Group
Addresses: 875 North Michigan Avenue, IL, 60611, USA.
3-20-2 Nishinjuku, Shinjuku, Tokyo 163-1407, Japan
Email(s): info@corneroaksgroup.com
Website: www.corneroaksgroup.com

3 May 2017 We are concerned that Corner Oaks Group may be a scam. We have received a report that says Corner Oaks Group cold called a New Zealand investor, offering to buy securities at an inflated price and asking for the investor’s bank account details. 

Name of company:  Central Spot Trading Ltd operating as Opteck
Website:  www.opteck.com
Address:  249, 28th October Street, Lophitis Business Centre 1, Office 102, CY-3035 Limassol, Cyprus

19 April 2017

The Financial Markets Authority notes recent warnings about Opteck by the following regulators: Australian Securities & Investments Commission, the British Columbia Securities Commission, and the Belgian Financial Services and Markets Authority.
Opteck is not registered in New Zealand to offer financial services in New Zealand.

Name of company: HPoption Financial Services Investment (Hong Kong) Share Limited
Trading name: HPoption
Registered Office: Far East Finance Centre, 17th Floor, 16 Harcourt Road, Hong Kong
Other office addresses: Iapetou Street, Agios, Athanasios, 411 Limassol
66 Ironmongers Place, London E14 9YD
Suite 12, Level 12, 300 Queen Street, Auckland 1010
Phone(s): +86 4000 406 664, +357 2502 70256, +852 2150 1953, +61 2918 81632, +62 2129 704974
Email(s): service@hpoption.com
Website: www.hpoption.com

12 April 2017 The FMA has received complaints about unreasonable or unexplained withholding of client funds by HPoption. The FMA believes HPoption is using another registered financial service provider’s details on its website without authorisation, leading investors to believe that HPoption is registered in New Zealand. The FMA would like to advise investors that HPoption is not registered on the FSPR.

Name of company:  Hedgestone Group
Website:  www.hedgestonegroup.com
Address:  4 Rabotnik Street, Kostinbrod Municipality, Petarch, Bulgaria.

10 March 2017  The Financial Markets Authority notes warnings by the following regulator: The Manitoba Securities Commission

 

Name of company: Mergers & Acquisitions Compliance Commission
Address: 633 West Fifth Street, Unit 2601-26-05, 26th Floor, Los Angeles, California 90071, United States of America
Phone: +1 323 704 1202
Emails: l.remsey@macompc.org ; contact@alliancefinancialregulatory.com
Website: www.macompc.org

19 January 2017 FMA has received a complaint from a NZ investor who claimed to have lost a significant amount of money from investing with overseas investment companies. Mergers & Acquisitions Compliance Commission (MACC) was involved in the investment process as a “regulator”, specifically in relation to offshore withholding tax matters. It is noted on the website operated by MACC that it is the primary overseer and regulator of the mergers and acquisitions industry in the USA. The U.S. Securities and Exchange Commission (SEC) website includes a list of its regional offices, and MACC is not one of them. The MACC is also not listed as part of the Federal Trade Commission. We therefore do not believe MACC is a legitimate regulator as claimed on their website.

Name of company: Larsson and York Wealth Management
Address: 29th Floor, Shinjuku I-Land Tower, 6-5-1, Nishi-Shinjuku, Shinjuku-ku, Tokyo, Japan
Phone: +81 0 3 4579 3493
Email: clientrelations@larssonandyork.com
Website: http://larssonandyork.com

 19 January 2017

FMA has received complaints in respect of Larsson and York about NZ residents receiving cold calls from the business and having lost money to them. Online report exists of Larsson and York being a scam. Larsson and York is not a registered financial service provider in New Zealand therefore is not allowed to offer financial services in New Zealand. 

Name of company: Persons purporting to be from Campbell Investments Limited 
Website: http://www.cilluk.com/

19 January 2017

The FMA understands that persons purporting to be involved with a UK registered company Campbell Investments Limited are offering to provide investment advice in NZ without the appropriate registration and license. Our enquiries have determined that this offer of investment advice has not been undertaken by Campbell Investments Limited or its directors nor do they operate the website www.cilluk.com. It appears an unidentified third party is involved. New Zealand residents should exercise caution if they are contacted by persons purporting to be representatives of the UK registered company Campbell Investments Limited.

Name of company: Horizon Holdings Limited
Address: 13 Des Voeux Road, Sheung Wan, Hong Kong
Phone: +852 5808 3924
Email: info@horizonholdingsltd.com
Website: www.horizonholdingsltd.com

17 January 2017 The FMA has received complaints that Horizon Holdings Limited is cold calling and offering investment opportunities to New Zealand residents. Horizon Holdings Limited is not incorporated in New Zealand nor registered on the FSPR therefore is not permitted to provide financial services to New Zealand residents. We note recent warning by the Hong Kong Securities and Futures Commission (SFC) in relation to Horizon Holdings Limited. SFC has advised that Horizon Holdings Limited is not located at the Hong Kong address 13 Des Voeux Road, Sheung Wan, Hong Kong as stated on the website operated by Horizon Holdings Limited. SFC has also advised that Horizon Holdings Limited uses bank accounts in Hong Kong in the names of Thompson Bright Limited, Carlyle Smith Limited and Chia Lee Trading Limited for settlement.
Name of company: Binary Selections
Website: http://www.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:  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 FMA 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: Exo Capital Markets Limited trading as Trade 12
Website: www.trade12.com 
Address: Ajetlake Road, Majuro, Marshall Islands

5 October 2016

The FMA notes a  warning about Exo Capital Markets Limited by Italy’s regulator Commissione Nazionale per le Societa la Borsa  (CONSOB

Name of company: Florin Investment Limited
Website: www.floringlobal.com  and www.florininvestmentlimited.com  

29 September 2016

The FMA has received three complaints about Florin Investment Limited cold calling NZ residents, and that investors are unable to access the funds they have invested in Florin Investment Limited. Florin Investment Limited is not registered on the FSPR and is therefore not allowed to offer financial services in NZ.

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

23 September 2016

The FMA notes warnings about Greenberg International Law & Tax by the following regulators:

Name of company: Titan Trade
Website: https://titantrade.com/

7 September 2016 The FMA notes a recent_warning_by_the_Australian_Securities and_Investment_Commission against conducting business with Titan Trade on 4 August 2016.  

Name of company:  Keiyo Asset Management

11 August 2016

The FMA has received reports that Keiyo Asset Management has been contacting New Zealand residents offering the opportunity to participate in an initial public offering.  Keiyo Asset Management is not registered to provide financial services in New Zealand and we recommend exercising caution when dealing with this entity.

Name of company: 13th Pty Limited trading as IGOT
Website: www.igot.com

 15 July 2016 The FMA has received complaints from New Zealand based clients of IGOT about IGOT’s failure to repay clients in accordance with their instructions.  IGOT is not registered or required to be registered to provide financial services in New Zealand.

Name of company:  Trade24 Investments Limited
Website: www.trade-24.com

30 June 2016 The FMA warns members of the public not to invest in Trade24 Investments Limited. Trade24 Investments Limited is not registered as a Financial Services provider in New Zealand and is therefore not allowed to offer financial services in New Zealand.

Name of Business:  Ares FCL Services Limited trading as Ares Forex

2 June 2016 The FMA is concerned about claims on the website aresforex.com which imply that the company is approved or licensed by the New Zealand Government and able to trade derivatives. Ares FCL Services Limited is not a licensed derivatives issuer and we recommend consumers exercise caution when dealing with the company.

Name of Business: United Global Holdings Limited, trading as FX United.

Website: www.fxunited.com and www.fxunitedpowerinternational.com

 

4 May 2016 The FMA has received reports that United Global Holdings Limited, trading as FX United, has been falsely claiming that the FMA has endorsed the company as being legitimate and highly regulated.  The FMA does not confirm legitimacy or endorse any entity in this manner. We recommend NZ consumers exercise caution when dealing with any business claiming to be endorsed by the FMA. We also note that the FMA has not frozen FX United’s accounts, as claimed in some reports.

Name of company: WGM Group Limited (formerly Belfor Capital Limited) trading as Belfor FX

Website: www.belforfx.com

Address: Level 27, 188 Quay Street, Auckland 1010, New Zealand

24 February 2016 The FMA has received complaints from overseas-based clients of Belfor FX about Belfor FX’s failure to repay clients in accordance with their instructions.  We note that the company has been deregistered from the Financial Service Providers Register and is not registered to provide financial services in New Zealand.

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: 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: 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:
CTM Group Limited (CTM)

Associated person:
Mr Mokhtarian

Website: www.capitaltrustmarkets.com

Address: 41 Shortland Street, Plaza Level, Auckland, 1010

28 May 2015

The FMA has received complaints from overseas-based customers of CTM about CTM’s failure to repay clients in accordance with their instructions.

CTM was deregistered from the FSPR on 15 May 2015.
Name of company: Capital One Forex Limited

Associated people: Samir Oglah Ali Beool; David Telyo Romano

Website: www.capitaloneforex.com

Address: 17b Farnham Street, Suite 6096, Parnell, Auckland 1052

20 May 2015

The FMA has received complaints over the last 12 months regarding Capital One, from customers alleging that the company has failed to act on their instructions for withdrawals from their accounts.

Capital One failed to respond to a request from the FMA for information about these complaints.

Capital One was deregistered from the FSPR with effect from 30 January 2014.

If you are concerned about a business/individual you are dealing with (particularly if you are having difficulty accessing funds, or if you suspect they are not legitimate) please contact the FMA.

NOTE: The FMA will not be able to help you to recover your money. If you are having difficulty accessing your funds you will need to contact the relevant dispute resolution scheme. Dispute resolution schemes provide a free service to help resolve any issues customers have with registered financial service providers. If the business/individual you’re dealing with is registered, the FSPR will tell you the name of their dispute resolution scheme. If they are not registered, you must deal directly with the business/individual to resolve the dispute.

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