New Zealand’s FMA Warns Against Managed Forex Hub

May 12, 2018 at 12:39 PM

In the recent regulatory statement, New Zealand’s Financial Markets Authority (FMA) (https://fma.govt.nz/) has reported against Managed Forex Hum Limited and warned the customers to not use the products and services offered by this company. The regulator is concerned about the deceptive statements posted by managed Forex Hub Limited on its website www.managedforexhub.com as the company made representations regarding the products and services registration on the Financial Service Providers Register, that the firm were offering, although the entities were provided from unauthorized groups. The main concern was specifically on the registration as a financial service provider and that the Managed Forex Hub belonged to a dispute resolution plan. These are the reasons for the FMA to consider the misleading moves of the mentioned company. The Managed Forex Hub also weren’t able to provide to the FMA the explanations regarding the company’s withholding the funds of its investors. This brokerage is not licensed to provide financial services in New Zealand and the regulator warns traders to be cautioned when dealing with it. New Zealand’s Financial Markets Authority provides warnings and alerts when there’s a suspicion for the investors to get in trouble and risk their funds. The list of the blacklisted firms or individuals includes those that are not licensed or authorized to provide financial services in New Zealand.

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