The New Zealand watchdog found that Forex Insiders appears to be offering unrealistically high and guaranteed returns. The company is also not a registered as financial service provider in New Zealand.
FMA also discovered that World Markets is not a registered financial service provider in New Zealand.
FMA provided details of the bank account used by World Markets:
Account Name: Settleap Pty Ltd
Account Number: 036034 527884
Bank Name: Westpac Banking Corporation (Western Australia)
Account Name: FAD Berlin Consult UG
Account Number: DE49 1101 0100 2779 7302 12
Bank Name: SolarisBank AG (Germany)
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