New Zealand’s FMA Issues Further Warnings About CCM Clearing Limited

False claims of being legally registered and and withholding clients’ money unreasonably come in the first place of the charges.

November 13, 2018 | AtoZ Markets

The Financial Markets Authority (FMA) of New Zealand has issued further warnings about CCM Clearing Limited, informing that the company is not authorised for providing financial services in New Zealand.

In the details, CCM Clearing Limited claimed that it is authorised to offer “a trading facility on a wide range of financial instruments, ranging from foreign exchange, foreign exchange options, to Contracts for Differences (CFDs) on stocks like crude oil and precious metals.”, as FMA clarified on its website on November 12.

the FMA in its turn declared that what CCM claimed was not authentic, in addition to accusing the aforementioned company of withholding it clients’ assets unreasonably. The thing that pushed the regulator to notify consumers that the company’s activity might be a scam.

The company seems to be not alone in the game

The warning detailed that CCM Clearing Limited holds the website, and is located in Stefano Street, 23A Sophia, Bulgaria as the latter claims, and has links with Rocket Consultant Group and World Advisory Group.

Rocket Consultant Group uses its trading platform UTRADEPro to provide access to forex and metals options trading, along with facilitating forex spot trading and contracts for difference (CFDs) for equity indices, corn, wheat, crude energy, and gold, as it claims on its website

While World Advisory Group claimed on its website, that it is: “The only platform offering true multi-bank liquidity and cross-asset margin trading for Forex, CFDs and Options from one account.”

Other details Rocket Consultant Group provided on its websites are the following addresses for its operations – Bahnnhofstr. 100 4. Etage, 8001 Zurich, Switzerland; Torres De Las Americas Panama City, Panama; An der Welle 4, 1st Floor, 60322 Frankfurt am Main, Germany and 1 Austin Road West, Kowloon, Hong Kong. World Advisory Group lists its address as Rue Du Rhone 14, 1204 Geneve, Switzerland.

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