FMA warns against EcoMarkets

FMA is concerned that EcoMarkets may be operating a scam, for the following reasons:

• EcoMarkets is not registered in New Zealand, nor listed on the Financial Service Providers Register (FSPR).
• Investors are unable to withdraw funds, after repeated requests.
• EcoMarkets provide a link to a web-based platform, where the representative of EcoMarkets show investors how to trade, through phone or zoom calls.
• Complainants have found fictitious amounts and profits being displayed on the platform.
• EcoMarkets discourage investors paying with their MasterCard or Visa card - these card providers allow chargebacks within 540 days from transactions.
• EcoMarkets caught the attention of complainants through their advertisements on social media platforms, such as Facebook.
• FMA recommend exercising caution if dealing with this entity or their representatives James Martin and Adam Green.

Details of the Unregistered Firm -  EcoMarkets 

Entity name & website: EcoMarkets; EcoMarkets.com
Email: [email protected]
Address: Overschiestraat 65, 1062 XD Amsterdam, Netherlands
Phone: International +31 0102005641, Australia 0272538449, United Kingdom 01615271075

How To Protect Yourself From Scams 

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.