Your February 2025 FMA Scam Warning List: Entities to Avoid in New Zealand

The Financial Markets Authority (FMA) is a New Zealand government agency responsible for enforcing securities, financial reporting, and company law as they apply to financial services and securities markets. All forex brokers operating in this English common law user country must be registered with the Financial Markets Authority (FMA) regulator.

Published on 17 February 2025 Network of fake online investment platforms – suspected scams. The FMA is aware of the existence of a large number of fake online investment platforms. These platforms are being used to commit investment scams. Once people invest money on these platforms, they are given a login where they can see the fabricated “profits” they have made. When investors try to withdraw their funds, the platform refuses. The platform will often request further payments to cover “taxes” or “withdrawal fees” and claim that the withdrawal will be processed once the additional amount is paid. However, even if the investor pays the additional money, no funds are released.

In addition, in February, the FMA exposed a network of suspected fraudulent online investment platforms that deceived consumers into investing.

WikiFX is a comprehensive forex broker database and information platform that collects detailed information on these companies that investors should be wary of. Investors can search the names of these companies on WikiFX to find out why they are not recommended as investment options.

In February 2025, the FMA issued a warning list of suspected fraudulent entities to the New Zealand public, some of which are as follows: