New Zealand regulations

[AthosDemetriou]

Hello guys,

I would like to ask your opinion on a subject that worries me a lot. I have been trading for a while now and i just started fund management. I opened an account with a broker and my tests were very satisfactory. The issue is that this broker is regulated under New Zealand which only protects you from AML. To be honest, i am worried about my Clients funds. There is no protection there. What do you suggest?

 

[LoRio]

a PAMM Account?
If you'are refering to alpari their reputation could provide some certainty

 

[Pharaoh]

See if the broker is also part of the NZFDRS. If not, it may be a very good idea to change brokers.

Another thing to do - ask if the broker keeps funds in segregated accounts. If the answer is yes, contact the bank they claim these funds are in and verify this.

 

[Rambo35]

See if the broker is also part of the NZFDRS. If not, it may be a very good idea to change brokers.

Another thing to do - ask if the broker keeps funds in segregated accounts. If the answer is yes, contact the bank they claim these funds are in and verify this.

Very good point. You should always verify anything your broker claims and don't just blindly trust them. Do your own due diligence before you make a move and don't rush into anything.