New Zealand’s FMA warns against Dang Kang International Group and Profitix
The Financial Markets Authority (FMA) of New Zealand, the government agency responsible for financial regulation, have issued warnings against Dang Kang International Group and Profitix brokers. The regulator states the companies are not registered, licensed, or regulated in New Zealand and could be involved in a scam.
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.
DangKang International Group Limited is a forex broker that claims to be located in New Zealand. The company also claims to be regulated in the UK by the Financial Conduct Authority. However, it is not licensed in the UK or any other country, and, moreover, it was even blacklisted by the FCA. With all these red flags, Dang Kang International Group shold definitely be avoided.
Profitix is a forex broker, owned and operated by ProfitiX Ltd. The company is located and regulated in St. Vincent and the Grenadines. We keep reminding that offshore zones are famous for their loose legal regimes, tax-free and low-cost licenses. They are basically not licensed, nor supervised by any authority. In addition, the regulator states that individuals from Profitix have been contacting New Zealand residents with investment offers without having the legal right for that.
We recommend to stay away from the unregulated brokers and pay more attention to the reliable and licensed ones. All the warnings from the regulators are meant to protect the public from fraudulent unlawful financial activity. You can share your Dang Kang International Group or Profitix experience with us by commenting on this post.