New Zealand's FMA has taken a very active stance in warning potential customers about the perils of dubious forex trading software and schemes which promise unrealistically high returns as more established regulators turn a blind eye
Read moreNew Zealand based Phoenix Forex promised 50%+ returns from users of its OakFX trading system. It comes as no surprise that the follow up to the story on Phoenix Forex that we reported back at the end of August is a liquidation proceeding. Following the warning issued by the FMA back then, the company's assets…
Read morePhoenix Forex requires investors to pay a substantial up-front fee of up to $25,700 to subscribe for the system. New Zealand's financial regulator FMA has issued a warning against currency account manager Phoenix Forex Limited of Auckland, and the OakFX foreign exchange trading system, for which Phoenix is the exclusive distributor. According to the FMA, Phoenix Forex…
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