Financial Markets Authority

The Financial Markets Authority (FMA) is the New Zealand government agency responsible for enforcing securities, financial reporting and company law as they apply to financial services and securities markets. We also regulate securities exchanges, financial advisers and brokers, auditors, trustees and issuers - including issuers of KiwiSaver and superannuation schemes. 

New Zealand is a country with a strong economy and legal regulations. Opening a forex brokerage company in New Zealand requires large funds and clear legality. All forex brokers operating in this English common law user countries must be registered in Financial Markets Authority (FMA) regulator.

1. Safety of Client Funds：

Derivatives issuer must ensure derivatives investor money and property held on trust for investor.

2. Requirement on Forex Brokers' Reports：

Transaction Reports; Annual Financial Statements (audited); Anti-money laundering Reports; Net Capital Report.

Generally speaking, NZ FMA-regulated broker profile will be found at the Financial Services Providers Register page on NZ FSPR website. Try to find it and check if it will match the info from the broker website.

The detailed steps are as below:

1. Find the licensed/reference no.(preferred) or name of the forex broker, which you can get from the broker's website; 

2. Enter the reference no. or name into the search bar on https://fsp-register.companiesoffice.govt.nz/  ;

Note:

If you can't find the broker's profile on NZ FSPR wesbite, it's probably an unauthorised broker and please keep away of it.

3. And you'll get the broker's contents on NZ FSPR website. At this time you need to check the broker's 'Authorisation Status' is 'Licensed' under the 'Derivatives issuer' of 'Financial services' ;

4. If all the steps above have been done, don't forget to check the most important information: check if the firm details published on NZ FSPR website matches the ones you'll go to trade with, especially the website and email etc. 

If no, please keep away the broker because it's probably an unauthorized firm and your money will fall in danger.

When you have disputes with a NZ FMA-regulated broker, you can proceed the following ways:

1st way: The recommended way is to contact the broker directly and discuss with them to find a solution.

2nd way: If you're not satisfied with the broker's solution, make a complaint to NZ FMA or FSCL, which helps to solve the disputes between the forex broker and the investor.

Make a complaint to FMA: questions@fma.govt.nz

Make a complaint to FSCL via email: complaints@fscl.org.nz or online: http://www.fscl.org.nz/complaints/complaint-form

Note:

If you make a complaint to FSCL, please check the broker is in the FSCL list of participants, otherwise FSCL may not help to solve the dispute.

3rd way: If the 2 ways above can't solve the dispute, the last way is to issue a case to the court in New Zealand.