New Zealand’s regulator the Financial Markets Authority (FMA) has warned that the CFDs broker Fidelis International Trading is not authorized to provide financial services in New Zealand. Furthermore, the FMA says, it has received complaints from overseas parties that Fidelis International Trading Limited has failed to repay clients in accordance with their instructions.
Fidelis International Trading is listed by the FMA in the category “Businesses to be wary of” and strongly recommends that people avoid investing through any of the businesses/individuals on the list. The government agency points out that its main commitment is to protect investors from businesses and individuals who are or have been on New Zealand’s financial services providers register (FSPR), but someone has filed a complaint about loss of funds or other misconduct. “If we receive a complaint about a business or individual registered on the FSPR, we will ask for an explanation, and expect a response”, FMA notes.
According to Fidelis’ website, it offers trading in CFDs on precious metals, stocks, bonds, commodities, indices, etc. It claims it has four offices – the “global office” in Auckland, New Zealand, plus an office for Aisa in Kuala Lumpur, an office for Europe in Stockholm and an office for the Americas on the Bahamas. It, however, doesn’t seem to be regulated anywhere, or at least it doesn’t provide such information.