ABFXi.com Review

These two outfits are owned by Malaysians operating MLM schemes in the background.

Dun know much about ABFXi.com but can comment a bit on TrillionFX.co which prior to trying to reposition itself as a NZ regulated entity earlier this year, has been depicting itself as fund managers from Sweden something which the Swedish government had to issue a public warnng letter denying that TrillionFX.co is authorized by them to offer financial services. See http://www.fi.se/Folder-EN/Startpage/Consumer/Investor-alerts/Warning-list/Warning-against-TrillionFX/

The true fact is TrillionFX.co is a $1 Singapore company set up by a Malaysian by the name of Tan Tiong Teng portraying itself as a international fund manager operating from Sweden. The Singapore government has also placed TrillionFX.co under its investor alert list.

Johan has rightly pointed out that both TrillionFX.co and ABFXi.com are now in the process of being deregistered by the NZ Authorities who apparently are trying hard now to clean up its image of being a "developed" offshore haven for shady financial operators who have been swamping to NZ in the last couple of years.

Also interesting to note that established forex brokers continued to support outfits like TrillionFX.co despite international investor alerts from numerous countries like Sweden and Singapore, and of course, it is such irony that TrillionFX.co actually got "regulated" by NZ government at the beginning of this year despite all the international investor alerts!

Caveat emptor! Investors Beware!

Just found another thing:

Please check at this link: http://www.trillionfx.co/contactus.aspx?lang=
on the map move your mouse to the small dot on the map (new zealand).

And then i tried to search on http://www.business.govt.nz/companies/app/ui/pages/companies/3754896?backurl=%2Fcompanies%2Fapp%2Fui%2Fpages%2Fcompanies%2Fsearch%3Fq%3Dtrillion%26mode%3Dstandard

and found following informations:

Principal place of business in NZ (from TrillionFX)
Tcl Offices, Unit 106, 23 Edwin Street, Mount Eden, Auckland, 1024 , New Zealand

Address of person authorised to accept service in NZ
New Zealand Capital Finance Limited null, Eurofinanzza Law Office, Level 5, 22 The Terrace, Wellington, 6011 , New Zealand

And below is the information about ABFXi:

Principal place of business in NZ
Ab Office Offices, 106 Unit, Suite 9, 23 Edwin Street, Mount Eden, Auckland, 1024 , New Zealand

Address of person authorised to accept service in NZ
New Zealand Capital Finance Limited null, Eurofinanzza Law Office, Level 5, 22 The Terrace, Wellington, 6011 , New Zealand

So they have same office address and they are using same the same agency to registered their company in NZ.

FSP of NZ update about TrillionFX:

The Registrar has commenced action to deregister this Financial Service Provider under section 18(1) of the Financial Service Providers (Registration and Dispute Resolution) Act 2008

Link: http://www.business.govt.nz/fsp/app/ui/fsp/version/searchSummaryOtherFSP/FSP206485/4.do

Btw, Monetary Authority of Singapore already put TrillionFX in their Investor Alert List:

http://www.mas.gov.sg/en/IAL.aspx?sc_p=T

Just received following answer from FMA New Zealand:

Dear Johan

Thank you for contacting us about the entity ABFX Financial Services Limited (ABFX).

From our search of the NZ Companies Register, ABFX is incorporated in the United Kingdom and registered as an overseas company in New Zealand, see: http://www.business.govt.nz/companies/app/ui/pages/companies/3927618.

Important Note!!!
We note that the Registrar of the NZ Financial Service Providers Register (FSPR) has commenced to deregister ABFX from the Register, see: http://www.business.govt.nz/fsp/app/ui/fsp/version/searchSummaryOtherFSP/FSP234785/5.do?noReturn=true.

In regards to ABFX’s membership in FSCL, FSCL (Financial Services Complaints Limited) is a dispute resolution scheme (DRS) and financial service providers who provide services must be a member of a DRS when providing services to retail clients.

Please note that although an entity may be incorporated in NZ, registered on the FSPR and a member of a DRS, this does not mean that the entity or its directors are licensed or authorised by FMA. We do not directly license or supervise foreign exchange brokers unless they are also dealing in futures contracts. However brokers are subject to certain conduct obligations under the Financial Advisers Act when they deal with client money.

We always advise investors to conduct their own due diligence before dealing with any entity they are unfamiliar with.

I trust this information is of assistance.

Regards