FMA is concerned that the CV Markets may be operating a scam. FMA in New Zealand received reports of trades being conducted without the client’s consent and of investors being unable to withdraw their investments.
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.