FMA in New Zealand warns against 500 Investments/ Cabsy Holdings Ltd
FMA in New Zealand is concerned that 500 Investments/ Cabsy Holdings Ltd has the hallmarks of a scam. The FMA recommends exercising caution before dealing with this entity as it is not a registered company or financial service provider in New Zealand.
Brokerswatch recommends investing only with brokers that are regulated by reputable authority.
Reputable regulatory authority provides additional protection to investors by ensuring that financial firms apply proper standards and rules. Additionally, if the broker tries to cheat you out of your money, it is the regulator’s job to force the financial firm to compensate you for any wrongdoing.