New Zealand’s FMA Blacklists FX broker ZonggangCaifu

December 29, 2018 at 01:22 PM

The Financial Markets Authority of New Zealand (FMA) has issued a warning against ZonggangCaifu, an unauthorized company offering Forex and CFD trading. The regulator states that the broker is not registered, licensed, or regulated in New Zealand as claimed on its websites.
The Financial Markets Authority (FMA) plays a critical role in regulating capital markets and financial services in New Zealand. It is the New Zealand government agency responsible for enforcing securities, financial reporting, and company law as they apply to financial services and securities markets.

According to the official notice, the financial service provider registration numbers of FSP1782, FSP1762, FSP488226 and FSP536586 displayed on ZonggangCaifu’s websites belong to KVB Kunlun group of companies. KVB Kunlun is NOT affiliated with ZonggangCaifu and its websites. ZonggangCaifu could be involved in a scam.
ZonggangCaifu is owned by Zongangguoxin Group Limited and operates through the website The company claims to have offices in Hong Kong, the UK and the USA. It also claims to be licensed by Australian Securities & Investment Commission, Securities and Futures Commission of Hong Kong, China Banking Regulatory Commission and New Zealand’s Financial Markets Authority. However, it actually has no licenses with this regulators and even one more warning from SFC in Hong Kong. The Hong Kong Securities and Futures Commission (SFC) has listed on their alert list as “suspicious website”. Link to the SFC’s alert can be found here.
Considering all these facts we cannot recommend you to invest with ZonggangCaifu. It is much safer to trade with regulated entities overseen by reputable authorities such as FCA in the UK or ASIC in Australia.
You can read our review on this broker here.

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