The Financial Markets Authority Issues a Warning against nzglobaltrading.com

On the list of online trading companies on the red list of the Financial Markets Authority, the latest addition is nzglobaltrading.com. The Financial Markets Authority has issued the warning against nzglobaltrading.com based on multiple factors.

The reason behind issuing the warning is to intimate the entire investment community to stay away from the particular website. The regulatory authority is viewing the nzglobaltrading.com’s activities in the New Zealand market to be fraudulent operations.

The Financial Markets Authority has announced that nzglobaltrading.com has been offering its services to the NZ locals with a proper authorization. The firm is not registered in New Zealand to operate in the country or to interact with the locals.

The firm is also promising very high returns against the investments that the investors make from New Zealand. The firm claims that the investors can generate very high returns for the investments they make in any online trading asset their platform has to offer.

nzglobaltrading.com is also claiming that the investors will not face any losses against their investments at all. This is a claim even the most advanced, and highly reputed online trading platforms do not even think of making such claims.

The firm has also copied the details of a company that is registered to operate in New Zealand. The firm has even copied the company number that belongs to the NZ-based registered company.

Unregistered Entity

The Financial Markets Authority has confirmed that nzglobaltrading.com is an unregistered entity that is wrongfully operating in New Zealand. The firm is not legally allowed or permitted to operate and provide financial services to the locals in New Zealand.

Still, the firm is offering financial trading services as well as products to the NZ locals without acquiring the authentic permission. The Financial Markets Authority is the entity that tends to look after and regulate every financial service providing firm in New Zealand.

The authority has confirmed it has received no such communication from nzglobaltrading.com for acquiring authorization or licensing of running operations in New Zealand.

This puts nzglobaltrading.com in the list of firms that are in breach of the New Zealand financial regulations and are thus, unsafe to deal with.

The investors must exercise precaution and vigilance when dealing with the firm and give out no sensitive personal or financial information to the platform.

Misleading Entity Claims by nzglobaltrading.com

Although nzglobaltrading.com is not a regulated/registered financial services provider in New Zealand, it still claims it is. Surprisingly, nzglobaltrading.com claims that it is registered and has cloned the information of a licensed financial entity from New Zealand.

It has copied the company number of a registered financial service provider from New Zealand known as NZ Global Trading Company Limited. The company number that it has is 1666186.

Upon checking with NZ Global Trading Company Limited, it has been confirmed by the FMA that it has no connection or affiliation with nzglobaltrading.com. Therefore, the firm is misusing the information of the licensed firm to lure innocent people from all over New Zealand.

False Promises by nzglobaltrading.com

To attract as many investors to the platform as possible, nzglobaltrading.com has been making false claims on the website. The firm claims that it offers very high returns to the investors upon their investments.

The financial trading platform also claims that there are zero chances of investors losing their investments to the platform. The firm is persistent that there is no loss for the investors if they invest money through their platform.

Thus, the FMA has issued warning and intimation for the investors in New Zealand not to interact with the platform at all. They must not invest money through nzglobaltrading.com as there is a high possibility that people may end up losing their money.

The possibility of recovering lost funds to such platforms is close to nothing. Therefore, the investors must remain very vigilant and alert when considering investing money through nzglobaltrading.com.

Information about nzglobaltrading.com

The website address of the fraudulent firm is nzglobaltrading.com and its support email is [email protected]. The phone number on the platform’s website is missing apart from the country code +44. The firm claims it is based on Level 6, 121 Beach Road, Auckland, New Zealand.

It is suggested by the FMA that the information provided by nzglobaltrading.com for contacting may be false and may be changed by the platform.