FMA in New Zealand warns against XM Global Limited

FMA in Zealand announced that has received reports that people are unable to recover funds invested with XM Global Limited.

XM Global Limited is not a registered financial service provider in New Zealand or regulated by the FMA.

The FMA recommends exercising caution if considering dealing with this entity.

Details of the Unregistered Firm - XM Global Ltd

Entity name: XM Global Limited
Associated names: David Ronald Warren
Addresses: David Warren, 10 Derwin Lane, Rd 4, Parua Bay 0174, New Zealand
Other: NZBN: 9429047995611

Insights

The affected brands are XM and Trading.com. Although, the XM Global Ltd was the entity affected, we believe that all of the brands that are related to each other should also be penalized.

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.