UMOFX new warning on FPA

[Master Yoda]

May 17, 2015: UmoFx's website falsely claims that it is still registered with the NZ FDR. The FPA strongly recommends AGAINST doing business with UmoFx. If you have money with this broker, the FPA suggests you test your ability to withdraw your funds now.


Umo FX | Forex Brokers Reviews | Forex Peace Army

UNOFX site screenshot:



NZ FDR site screenshot:



View Scheme Member | Financial Dispute Resolution

 

[Pharaoh]

I'm rapidly losing all trust in NZ regulation. The brokers just bail whenever they feel like it.

 

[Master Yoda]

Or maybe broker finds it easy to claim they are regulated in NZ while they are lying

 

[dubaiscam]

NZ becomes an increasingly attractive economic haven for the forex scams.
New Zealand Forex Regulation - Forex Conclusions

 

[dodi1980]

That is true - they are cheating people- stay away from this broker

 

[Amin EL-HAKIM]

Well, till this very moment, the NZ regulation is just a logo. If you guys remember my case with odmarkets. Up to this very moment, the iombudsman is still checking what does osmarkets feel about my claim. Add to that, the iombudsman stopped responding a week ago.

 

[vgasper]

Look what I found:

 

[RahmanSL]

If I am not mistaken, I read somewhere that the New Zealand Regulators offer protection ONLY to their own citizens. So if you are not a Kiwi and your Z.Zealand broker scam you, then you are pretty much screwed.

Just stay away from brokers who are (or claimed) to be registered & regulated in Kiwi land.