Reason to avoid: No license
Listed Date: August 6, 2018
Top 3 Regulated Forex Brokers
- Company name: Booster Funds Management Limited
- Registration/license: None
- Registration/license requirement: –
Baihua Global is a Forex broker that claims to be located in New Zealand (address from the website – Level 5, 13-27 Manners Street, Te Aro, Wellington, 6011, New Zealand) and registered by New Zealand Financial Market Conduct Authority (FMA). Although the firm was banned by the FMA in New Zealand. Baihua Global is misleadingly using the registration details of Booster Funds Management Limited (FSP555786), a licensed fund manager, with whom it has no connection. It is not a registered financial service provider in New Zealand. It is better to avoid trading with unregulated brokers, especially when they use the details of the regulated companies to deceive potential customers. Some of such entities run investment scams, and clients of such brokers don’t have any protection.