FMA warning

The Financial Markets Authority of New Zealand ( FMA ) has recently put FX United onto a watch list of "businesses to be wary of".  This is clearly not good for FX United or anyone trading with them.

Follow this link here to FMA website

However, all that the warning says is that the FMA has received reports that United Global Holdings Limited, trading as FX United has been falsely claiming that the FMA has endorsed the company as being legitimate and highly regulated.  It seems that this was stated on an overly enthusiastic Malaysian Facebook page (the statement has naturally now been removed).

The fact is that the FMA does not endorse any company in this manner, and they are quite justified in releasing this warning.  It is really important that we do not overstate facts. FX United is NOT a government regulated company.  It does NOT have a separate prudential account guaranteeing the safety of our money - and it is NOT the same as putting money in a bank account.

Our money is as safe and secure as the company it is placed with - and my view is that I am treating this as a potentially risky investment.  However the returns are so remarkably high that I am prepared to give it the benefit of the doubt - as thousands of others have been doing for many months now, while reaping strong rewards.

Frankly, there are people out there who are making greatly exaggerated and unjustified claims about making a quick fortune with FX United - and it has to stop.  It would be sheer lunacy to place all your savings with FX United.  However, that does not mean that FX United is a bad broker - or that you should steer clear of it.

Only you know your personal circumstances, and you should fully inform yourself, and make your own decisions.  Your money is hard earned.  Do not throw it away - but do not just stand on the sidelines watching while others are taking profits!

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