The Kiwi regulator the Financial Markets Authority (FMA) has issued a warning regarding Huang Investments Limited, also known as Huang International. The FMA stated that it recently received reports that the brokerage is making cold calls in order to soliciting traders in New Zealand. The regulator further noted that the Securities and Futures Commission (SFC) has also issued a warning regarding the broker in Hong Kong.
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The FMA mentioned reports regarding Huang Investments’ withholding of traders’ funds, for which it offers either questionable explanations or none at all. The broker is not authorized to offer financial services in New Zealand, and the regulator strongly advises traders to exercise caution when dealing with it.
The SFC’s warning against the broker, which is also unauthorized in Hong Kong, has not stopped it from targeting local clients. Huang Investments claims to have an office at 4 Carnarvon Road, Tsim Sha Tsui, Kowloon, Hong Kong. The SFC, however, maintains that the online trading company does not have an office at this location. In addition, the company website’s servers appear to be unavailable. Huang Investments uses a bank account in Hong Kong under the name Nero Holdings Limited for settlement purposes.
About two weeks ago, the FMA warned against trading with Bulgaria-based Stern Options, a binary options brokerage which also identifies as Stern Binary Options. This online trading company had been soliciting traders despite being unauthorized to operate in New Zealand.