22 February, AtoZForex.com, Lagos –New Zealand’s financial market regulator – the Financial Market Authority (FMA)– has sounded the alarm on another firm, found to be illicitly providing its services in the New Zealand region, without the due authorization to do so. In line with the FMA’s responsibility and commitment to maintain a safe environment for investors registered on the Financial Service Providers Register (FSPR), the financial watchdog has warned the public against dealing with “Fidelis International Trading Limited”, due to complains of loss of investor funds about the firm. As well as other serious misconducts that puts the customer funds at risk.
It should however be noted that Fidelis International Trading is different from the CySEC registered “Fidelis Capital Markets” and the aforementioned firms have no affiliation between each other.
The unregistered firm operates via the following existing details:
Name of company: Fidelis International Trading Limited
Address: A82 Symonds St, Auckland Central, Auckland 1010, New Zealand
Multiple complains from investors
Having received multiple complains from overseas-based customers on Fidelis International Trading Limited’s failure to comply with requests for funds withdrawals, the financial regulator has now denied all affiliation with this firm, stating that the firm is not listed on the FSPR to carry out the business for which it purports in the region. Fidelis International Trading Limited lists a global office location in Wellington, New Zealand. Also, the firm claims to have offices in regions like Asia, Europe, and the Americas.
Hence, with these concerns brought forward about these firm’s operations, the FMA has now cautioned the public against dealing with this firm “Fidelis International Trading Limited”, or any such firm which is not duly registered to carryout its financial operations in the region.
Clone of CySEC licensed firm
However, it is worthy of note that the “Fidelis International Trading Limited” seems to be operating as a clone of the Cyprus Security and Exchange Commission registered (CySEC) “Fidelis Capital Markets”(FCMForex.com). Being a CySEC registered firm, Fidelis Capital Markets is actually authorized to carryout its activities in New Zealand by virtue of a “cross border service outside of the EU” as permitted by CySEC.” Although, the CySEC licensed firm has previously de-registered from the New Zealand operations.
Therefore, the public needs to be very wary of “Fidelis International Trading Limited”, which operates like a clone of the CySEC licensed “Fidelis Capital Markets.”
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