FMA Updates Warning List, Adds Two Suspicious Trading Entites

New Zealand Financial Markets Authority added BND Traders and DMAX to its warning list.

​The New Zealand regulator has advised people to operate with caution when dealing with the foreign exchange dealers due to concerns they may be involved or operating a scam.

The regulator reported the following details of the two companies:

BND Traders

Website: https://www.bndtraders.com/

Email: support@bndtraders.com

Phone: +1 (213) 630-0054

DMAX 

Website: https://www.dmaxinvestments.com/services-real-estate/

Email: support@dmaxinvestments.com

Phone: +1 (925) 957-4474

Address: 66 Corporation Road, Grangetown, Cardiff, CF11 7AW

The watchdog warned that the two companies may be operating a scam. Both of them guarantee hefty returns and request upfront payment before withdrawals can be made. According to the regulator, the platforms are not registered as financial service providers nor authorized by FMA. They are not qualified to provide financial services or financial products in New Zealand.

Additionally, director of BND Trading Limited, New Zealand registered company, has confirmed that it is not associated or otherwise connected with the website https://www.bndtraders.com.

FMA strongly advises the public to only deal with financial firms that are authorized, and to exercise caution when dealing with suspicious entities.