New Zealand FMA Warns Against TigerWit Prime Limited

Thursday, 03/03/2016 | 11:59 GMT by Damian Chmiel
  • The Financial Market Authority of New Zealand has warned the public of TigerWit Prime Limited, which falsely claims to be regulated on the local market.
New Zealand FMA Warns Against TigerWit Prime Limited
FMA

The list of warnings and alerts that can be found on the webpage of New Zealand’s financial regulator was complemented today with another allegedly unlicensed FX brokerage. The local watchdog warns against TigerWit Prime Limited, offering its services through tigerwit.com.

As we read in the “businesses to be wary of” section, TigerWit Prime misrepresents itself as being authorized by New Zealand government agencies and falling under their direct supervision and auditing. The entity also ensures the safety of clients’ funds on the basis of this false information regarding licensing.

TigerWit Prime contact information suggests that its headquarters are located in New Zealand: Level 15, 120 Albert Street, Auckland, 1010, New Zealand. The website however, is available only in Chinese.

The FMA warns against those entities that are not listed on the Financial Service Providers Register (FSPR) and that either do not respond to inquiries about their financial activities or do not provide satisfactory responses. The regulator strongly advises traders not to invest their money through businesses that cannot be found on the FSPR list.

The Financial Markers Authority has been very active in its operations recently. On February 22, Finance Magnates reported on a warning regarding another brokerage allegedly registered in New Zealand, Fidelis International Trading Limited. Offshore customers claimed that the firm rejected their withdrawal requests for deposited funds. The entity also informed traders that the broker does not have the appropriate licenses entitling it to provide services on the local market.

The list of warnings and alerts that can be found on the webpage of New Zealand’s financial regulator was complemented today with another allegedly unlicensed FX brokerage. The local watchdog warns against TigerWit Prime Limited, offering its services through tigerwit.com.

As we read in the “businesses to be wary of” section, TigerWit Prime misrepresents itself as being authorized by New Zealand government agencies and falling under their direct supervision and auditing. The entity also ensures the safety of clients’ funds on the basis of this false information regarding licensing.

TigerWit Prime contact information suggests that its headquarters are located in New Zealand: Level 15, 120 Albert Street, Auckland, 1010, New Zealand. The website however, is available only in Chinese.

The FMA warns against those entities that are not listed on the Financial Service Providers Register (FSPR) and that either do not respond to inquiries about their financial activities or do not provide satisfactory responses. The regulator strongly advises traders not to invest their money through businesses that cannot be found on the FSPR list.

The Financial Markers Authority has been very active in its operations recently. On February 22, Finance Magnates reported on a warning regarding another brokerage allegedly registered in New Zealand, Fidelis International Trading Limited. Offshore customers claimed that the firm rejected their withdrawal requests for deposited funds. The entity also informed traders that the broker does not have the appropriate licenses entitling it to provide services on the local market.

About the Author: Damian Chmiel
Damian Chmiel
  • 1862 Articles
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About the Author: Damian Chmiel
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
  • 1862 Articles
  • 41 Followers

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