Do not invest more money than you can afford to lose.
New Zealand’s watchdog, the Financial Markets Authority (FMA), has added United Global Holdings Limited to its list of businesses to be wary of. The company trades as FX United and has two websites: www.fxunited.com and www.fxunitedpowerinternational.com. According to the FMA, it falsely claims to be endorsed the company as being legitimate and highly regulated by it.
The FMA notes that it does not legitimate or endorse any entity in this manner and recommends New Zealand consumers to be extra careful when dealing with any business claiming to be endorsed by the FMA.
According to the fxunited.com website, the company has an address in Wellington, New Zealand and is a “world leading foreign exchange broker”. It offers trading in forex and silver and gold with real and demo accounts. The trading platform is MetaTrader 4, including the mobile versions. The minimum deposit is $25 and the maximum leverage is 1:200.
The website of the parent company provides the same address and not much other information, besides a link to New Zealand’s companies office, as proof that it is registered in the country. This, however, does not mean that United Global Holdings Limited or FX United are regulated by the FMA.