FMA Adds Binary Options Broker FM Trader to its Warning List

New Zealand’s Financial Markets Authority today updated its warning list to include binary options broker, FM Trader.

FM Trader operates under the website https://fmtrader.com/ and is a brand owned and operated by FM Marketing Marketing Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Read this Term LTD which is incorporated in Belize and lists additional addresses both in Cyprus and the UK.

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According to the FMA, FM Trader has been cold calling New Zealand residents without being a registered New Zealand company or registered on the Financial Services Providers Register (FSPR). This means the company is strictly prohibited from offering financial services in New Zealand.

Red-Flagged On Several Occasions

FM Trader has been red-flagged by various financial watchdogs on several occasions recently. Canadian provincial regulator, the Manitoba Securities Commission (MSC) issued an alert in April warning the public against investing with this firm for being unregistered.

In addition, Canadian Securities Administrators (CSA) published a “Black List” of 37 unauthorised binary options brokers in March 2015 in which FMtrader also appeared.

ASIC ASIC The Australian Securities and Investments Commission (ASIC) is the prime regulator in Australia for corporate, markets, financial services, and consumer credit. It is empowered under the financial service laws to facilitate, regulate, and enforce Australian financial laws. The Australian Commission was set up and is administered under the Australian Securities and Investment Commission Act of 2001. ASIC was initially the Australian Securities Commission based on the 1989 ASC Act. Initially, the The Australian Securities and Investments Commission (ASIC) is the prime regulator in Australia for corporate, markets, financial services, and consumer credit. It is empowered under the financial service laws to facilitate, regulate, and enforce Australian financial laws. The Australian Commission was set up and is administered under the Australian Securities and Investment Commission Act of 2001. ASIC was initially the Australian Securities Commission based on the 1989 ASC Act. Initially, the Read this Term Warning

Furthermore, the FMA has also drawn attention to the fact that the Australian Securities and Investment Commission (ASIC) also recently posted a warning about FM Trader via its MoneySmart.gov.au website, advising that this company could be involved in a scam, as reported by Finance Magnates in May.

The FMA reminds consumers to exercise caution when dealing with any business claiming to be registered by the New Zealand watchdog. Its warning list serves to offer investors protection from businesses that are, or have been, registered on the Financial Service Providers Register (FSPR) but are the subject of grievances relating to investor funds or other misconduct that implies customers may lose money. The latest warning is one of several that has been issued by the FMA in recent times and the third time that FM Trader has been flagged for misconduct since March this year.