List of FMA Warned Firms to Be Aware Of - Month of December 2022
Abstract：The list of unauthorized firms was released by the Financial Markets Authority (FMA) to warn the public not to invest due to a lack of necessary authorization to conduct financial transactions or investments.
The Financial Markets Authority (FMA) is the government body in charge of regulating New Zealand's securities markets and financial service providers. Its main objectives are to safeguard consumers while also promoting fair, efficient, and transparent financial markets. The FMA is a separate Crown institution that reports to the Minister of Commerce and Consumer Affairs. It has broad powers and functions, including the authority to register and license financial service providers, undertake financial market monitoring, enforce compliance with laws and regulations, and take enforcement action against persons or organizations that violate the law.
How the FMA protects the public against fraudulent businesses
The Financial Markets Authority (FMA) safeguards the public against fraudulent internet trading brokers by using a number of procedures and technologies to identify and penalize those who participate in it.
One method is to regulate and license financial service companies, such as internet trading brokers. This helps to guarantee that only genuine and trustworthy businesses may function in the market. The FMA also monitors financial markets on a regular basis in order to detect and investigate any fraud or other criminal behavior.
The FMA also maintains a public record of financial service providers on its website, where customers may check to see whether a company is licensed and in good standing with the FMA. Furthermore, FMA published warnings against unlicensed entities known as “scammers” on their websites and via other public announcements.
The following is a list of fraudulent businesses that have been banned by the FMA for the whole month of December:
REO FUNDS NZ LIMITED
MACQUARIE
KRYPTO SECURITY
BAY EXCHANGE
CTRLEX
IKICI
COIN FINANCE LIMITED
The FMA together with WikiFX also urges customers to report any unusual behavior or suspected fraud to them so that necessary action may be taken. They also operate public education initiatives to teach customers how to spot and avoid fraudulent online trading brokers, as well as how to protect themselves from fraud.
It is crucial to highlight that the FMA has a role in safeguarding the public, but it is not a guarantee. Consumers should also do their own research and due diligence before investing with any financial service providers.
Stay tuned for more lists of fraudulent firms.
Download and install the WikiFX App from the download link below to stay updated on the latest news, even on the go. You can also download the app from the App Store or Google Play Store.
Download link: https://www.wikifx.com/en/download.html
Related broker
Read more
XPO Fund Wants $10,000 Before You Trade a Single Real Dollar — Read This Stunning Revelation
If you have spent even a week inside trading communities lately, you already know the pitch by heart. Pass a quick "challenge," get handed a funded account worth tens of thousands of dollars, and keep up to 80% of everything you make. No risking your own savings, no slow grind of building capital from scratch — just skill, a small fee, and a fast track to the big leagues. It is the exact dream every new trader is secretly chasing, and an entire industry has sprung up to sell it. XPO Fund is one of the louder voices selling that story right now. Its website is slick, its plans sound generous, and its marketing leans hard on words like "industry's lowest fee" and "fast payouts." But before you reach for your card, there is one number sitting quietly on this firm's profile — a number it would rather you scroll past — that every experienced trader would beg you to look at first. And no, it is not the profit split. Let's pull XPO Fund apart piece by piece: what it actually is, who is real
The 6 Best ECN Brokers for 2026: Who Really Delivers Raw Spreads and Institutional-Grade Execution
Every broker with a marketing budget now slaps the letters "ECN" on its homepage. Few of them actually deliver what those letters promise. For a serious trader — a scalper, a day trader, an algo trader, anyone whose edge lives or dies on execution quality — the gap between a true ECN broker and a market maker wearing an ECN costume can quietly cost you hundreds of pips a year in slippage, requotes, and inflated spreads. So we cut through the marketing, looked at the brokers that genuinely offer raw pricing and deep liquidity, and cross-checked every one of them on WikiFX. Here are the six ECN accounts that actually earn the label in 2026 — ranked. First, a short primer, because understanding ECN is what lets you judge these brokers properly.
FX Novus vs VCG Markets:Two Brokers, Two Very Different Kinds of Risk — Which One Is the Lesser Evil
If you have been shopping around for a forex broker and landed on FX Novus and VCG Markets, you have stumbled onto a genuinely instructive pair. On the surface they look like cousins: both are relatively young, both wave around multi-asset trading and tight spreads, and both operate from the kind of offshore corners of the world that should make any beginner slow down. But dig into the data on WikiFX and the two part ways sharply. One carries active, screaming red flags. The other is merely standing in a yellow zone. Neither is what a cautious newcomer would call "safe" — but understanding how they differ is exactly the kind of lesson that protects your money. Let's put them head to head, decode the jargon along the way, and reach an honest verdict.
Deposited at New Frontier, Then Locked Out—Funds Never Came Back - The Real Story of a Trader
There are few feelings in trading more sickening than this one: you funded your account, you walked away confident your money was safe, and when you came back to check on it, the platform calmly informed you that your login details were wrong. Not your trades — your very identity, locked out. And on the other side of that login screen sits a balance you can no longer touch and a support team that has gone silent. That is the heart of a complaint filed against New Frontier on WikiFX. One trader reported depositing 40,500 pesos, returning to log in with the exact email and password they had registered, and being told the data was "incorrect" — which, in their words, meant their earnings had simply been taken. Customer service, they said, did not react. Let's look closely at this broker, what makes its profile so unsettling, and why verification here is not optional.
WikiFX Broker
Latest News
The Hidden Risks of Margin Calls and How to Trade Trends Safely
WikiFXLONG ASIA Review 2026: Withdrawal Complaints and Unverified Regulation
WikiFXT4Trade Review 2026: Official Warnings and Withdrawal Risks
WikiFXPay a 17% Tax First, Then You Can Withdraw" — How Nixse Allegedly Held One Trader's €25,000 Hostage
WikiFXTotalFX Dangles 1:1000 Leverage and a $0 Minimum Deposit - But Is Its Regulation Strong?
WikiFXXPO Fund Wants $10,000 Before You Trade a Single Real Dollar — Read This Stunning Revelation
WikiFXA Single TikTok Ad Cost Him RM100,000
WikiFXHow to Read Market Reversals Through Price Action and Indicators
WikiFXLONG ASIA Review: Broker Complaints, Regulation Gaps, and Withdrawal Alarms
WikiFXHow Proprietary Trading and Artificial Volume Move Prices
WikiFXRate Calc
