The FMA recommends exercising caution when dealing with Quwiex as the FMA in New Zealand is concerned that the website may be operating a scam.
The entity is providing financial services without being registered in New Zealand. They also making statements about the returns than an investor would receive from their financial services, however it appears to be false and misleading.
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.
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Risk Warning: FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. All data and information are provided “as is” and only for information purposes, not for trading or recommendations. Past performance does not predict future results.
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