May 6, 2021, | AtoZ Markets – The New Zealand Financial Regulator (FMA) has issued a serious scam alert regarding two websites targeting investors and traders: TopMarketCap (whose website is topmarketcap.com) and Equity Corp (whose website is equitycorp.org).
The FMA stated that it has been receiving reports from TopMarketCap investors that they cannot withdraw their funds. The company does not hold a Derivatives Issuer License and is not a New Zealand registered financial services provider nor is it licensed by the FMA (or, anywhere else, as far as we know).
Referring to the company Equity Corp, the regulator has said that it considers it a scam, since equitycorp.org is not a provider of financial services registered in New Zealand, and they cannot offer financial services to residents of the country.
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The investors need to use only brokers and companies which are properly licensed in their home jurisdiction by a recognized national financial regulator (e.g. the FCA in the UK, CySEC in Cyprus, ASIC in Australia).
Don’t be fooled by brokers showing certificates from non-governmental entities which basically pose as regulators, such as so-called dispute resolution organizations or trade verification services.
Before putting your money or sending your personal information to a broker, it’s necessary to consider if they have a real office and if you can easily find the broker on a national regulator’s registry of properly licensed financial companies.
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