New Zealand regulator Financial Market Authority issues MaxCFD and Binary Tilt warning. These companies have already made it to the warning lists of other global regulators. What do we know about them?
5 July, AtoZ Markets – The Financial Market Authority (FMA) of New Zealand markets has just issued a warning regarding a suspected scam company that is going under the name Chemmi Holdings Limited. The company is trading as Binary Tilt and Max CFD.
New Zealand regulator issues MaxCFD and Binary Tilt warning
The New Zealand financial watchdog has cautioned investors against dealing with this entity, adding the following:
“We have received a report about the unreasonable or unexplained withholding of client funds by Max CFD operated by Chemmi Holdings Ltd, (who also operates Binary Tilt). The FMA recommends exercising caution before dealing with Chemmi Holdings Ltd as they have the characteristics of a scam.”
In addition, the regulator has shared the details of the firm:
Website: www.maxcfd.com AND www.binarytilt.com
Address: MaxCFD: 20-22 Wenlock Road, London, England, N1 7GU, United Kingdom;
Binary Tilt: 2nd Floor, 1-2 Broadgate, Broadgate Circle, London EC2M 2QS United Kingdom
Earlier this May, a Canadian watchdog has warned the investors’ community against dealing with Binary Tilt. The British Columbia Securities Commission has added that Binary Tilt has no registration to trade in, or advise on, securities or exchange contracts in BC. In addition, the regulator has stressed the importance of exercising extreme caution when dealing with companies that have no authority to trade or advice in BC.
FMA MaxCFD warning
Back in February, the UK Financial Conduct Authority (FCA) has published a warning for investors on its website. The UK regulator aimed to caution investors’ community against dealing with one of the unauthorized firms operating on the territory of the UK. The firm under the spotlight was the entity representing itself as MaxCFD.
According to the regulatory notice, MaxCFD has been providing professional investment services to the UK residents without any authorization to do so. The UK FCA further warned that this firm has no association with any of the FCA-regulated entity. In addition, the watchdog mentioned that the first has been flagged for operating and targeting UK-based investors without an appropriate license.
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