Trade99 Has Hallmarks of Scam, New Zealand’s FMA Warns
- Trade99 is withholding client funds, the regulator warned.
The Financial Markets Authority (FMA), the New Zealand government agency responsible for financial Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term, announced this Thursday that it had identified another entity operating in the country that has the hallmarks of a scam.
In particular, the New Zealand authority has warned against the following entity:
ENTITY NAME: Trade99
WEBSITE: www.trade99.com
PHONE: +37 288 04999
EMAIL: legal@trade99.com
According to the statement published on its warnings and alerts page, individuals from Trade99 have been contacting residents of New Zealand, claiming to have investment offers, and have been withholding client funds. Because of this, the regulator suggests Trade99 has the “hallmarks of a scam.”
FMA urges caution when dealing with Trade99
“We recommend exercising caution before dealing with Trade99 and the website www.trade99.com as Trade99 is not listed on the FSPR and is not an incorporated company in New Zealand,” the watchdog warned today.
Following the URL provided by the FMA, Trade99 claims to be the world's first fully regulated bitcoin-only based contracts for difference (CFD) Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term. On its website, the entity states that it is regulated in the European Union as a virtual currency exchange and a virtual wallet service.
“Trade99 is a trading platform like none other. We have one of the most dedicated and specialized teams of professionals who work passionately in conjunction with the customer demand to provide exceptional services,” the company states on its website.
“We offer competitive prices and ease of trading along with continuous support and safety to the customers. Trade99 has one of the world’s best customer support team always standing by your side. Our inimitable style, coupled with integral efforts of our team, has enabled us to emerge as a unique trading platform that caters to the need of every trader. Be it the novice or the professional, the hobby trader, or the daily grinder; our platform can be used equally by all.”
The Financial Markets Authority (FMA), the New Zealand government agency responsible for financial Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term, announced this Thursday that it had identified another entity operating in the country that has the hallmarks of a scam.
In particular, the New Zealand authority has warned against the following entity:
ENTITY NAME: Trade99
WEBSITE: www.trade99.com
PHONE: +37 288 04999
EMAIL: legal@trade99.com
According to the statement published on its warnings and alerts page, individuals from Trade99 have been contacting residents of New Zealand, claiming to have investment offers, and have been withholding client funds. Because of this, the regulator suggests Trade99 has the “hallmarks of a scam.”
FMA urges caution when dealing with Trade99
“We recommend exercising caution before dealing with Trade99 and the website www.trade99.com as Trade99 is not listed on the FSPR and is not an incorporated company in New Zealand,” the watchdog warned today.
Following the URL provided by the FMA, Trade99 claims to be the world's first fully regulated bitcoin-only based contracts for difference (CFD) Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term. On its website, the entity states that it is regulated in the European Union as a virtual currency exchange and a virtual wallet service.
“Trade99 is a trading platform like none other. We have one of the most dedicated and specialized teams of professionals who work passionately in conjunction with the customer demand to provide exceptional services,” the company states on its website.
“We offer competitive prices and ease of trading along with continuous support and safety to the customers. Trade99 has one of the world’s best customer support team always standing by your side. Our inimitable style, coupled with integral efforts of our team, has enabled us to emerge as a unique trading platform that caters to the need of every trader. Be it the novice or the professional, the hobby trader, or the daily grinder; our platform can be used equally by all.”