FMA believes that information on the FX Promax website is fictitious.

New Zealand’s financial regulator FMA has issued a warning against Forex broker FX Promax Limited, and its website at FXpromaxltd.com.

According to the FMA, the Forex brokerage operating at the website FXpromaxltd.com is representing itself as being based at 350 Queen Street in Auckland, and as being headed by CEO Gregory David Thomas and CFO Nicola Gaylene Thomas. The FMA believes that FX Promax is not currently operating from its purported New Zealand address, and that the people listed as management are actually owners of a similarly-named New Zealand registered company but are not associated in any way with the operations of FX Promax Ltd or its website, nor is their conduct under investigation by FMA.

The FMA is concerned that FX Promax Limited and related people or entities may be soliciting funds from members of the public, and warns New Zealanders not to invest in the entity or its products.

The FMA’s full statement can be seen here.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.