FMA Warns Against Unauthorized Entity NorthWest Options Exchange

The FMA recommends exercising caution when dealing with NorthWest Options Exchange as the regulator is concerned that NorthWest Options Exchange, through their website nwoex.com, may be operating a scam. 

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FMA noted that it has received a report that representatives from NorthWest Options Exchange are cold-calling New Zealand residents with investment offers when it is not authorised to do so. The regulator has also received a report of people being unable to withdraw their funds.

According to FMA, the entity does not hold a Derivative Issuer License and is not a registered financial service provider in New Zealand or licensed by the FMA. As such, they are not permitted to offer derivative trading services to New Zealand retail customers.

Entity: NorthWest Options Exchange

Associated entity: Cambridge Mercantile Limited

Email addresses: support@nwoex.com

Website: www.nwoex.com