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New Zealand's FMA warns of Chinese forex broker VHTrade

Aug 01 2017
By
Jonathan Smith

New Zealand's Financial Markets Authority (FMA) has warned against the Chinese forex and binary options broker VHTrade.

 

The regulator says it is concerned that Vhtrade International Financial Group claims to be registered on the FSPR when they are not.  The broker is operating from the site www.vhtrade.cn, and allegedly established in Hong Kong. On its site the broker claims it is based in New Zealand and has a dual license from UK's Financial Conduct Authority (FCA) and New Zealand's FMA. Our check, however, revealed that it has neither.

 

This is not the first time a regulator issues a warning against VHTrade. In May Hong Kong's Securities and Futures Commission (SFC) has also put it on its black list of unlicensed entities.

 

Generally, it is highly advisable to avoid dealing with unregulated brokers or, worse still, with ones making false claims like VHTrade. There are numerous properly licensed brokers, like the ones by FCA or the Australian Securities and Investment Commission to choose from.

 

 

TAGS: fma  new zealand  vhtrade 

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