New Zealand’s FMA Warns against WTI Limited

The Financial Markets Authority (FMA), the New Zealand financial regulator, announced that it has issued a warning against a forex trading information website called WTI Limited.

The FMA said that it is concerned that WTI Limited, which operates the website www.wti-hk.com, may be operating a scam.

The regulator added that it understands that WTI Limited is using details on the website associated with Well Trading International Limited, an entity incorporated in New Zealand. WTI Limited is using the details of this company without permission.

The FMA also notes that the Monetary Authority of Singapore included the entity and website on their Investor Alert List on 9 June 2021.

WTI Limited is not a registered financial service provider in New Zealand or licensed by the FMA. The FMA therefore recommends exercising caution when dealing with this entity.