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WTMFX

Item: WTMFX
Rating: 1.58

New Zealand|5-10 years|

http://www.wtm-fx.com/en/

Website

Time Machine

Rating Index

Contact

4000031899

support@wtm-fx.com

http://www.wtm-fx.com/en/

Licenses

FSPR Exceeded

New Zealand Financial Service Corporate

FCA Exceeded

United Kingdom Investment Advisory License

VPS Standard

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Single Core

40G

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This platform is a Ponzi Scheme. Please stay away! 5

Previous Detection : 2024-11-23

This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!

The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.

The number of this brokers's negative field survey reviews has reached 2. Please be aware of the risk and the potential scam!

This broker exceeds the business scope regulated by New Zealand FSPR(license number: 331326)Financial Service Providers Register Non-Forex License. Please be aware of the risk!

This broker exceeds the business scope regulated by United Kingdom FCA(license number: 674510)Investment Advisory Licence Non-Forex License. Please be aware of the risk!

A Visit to WTMFX in London UK -- Finding No Office

The investigators went to London, UK to visit the foreign exchange dealer WTMFX as planned. They did not find the dealer’s office on the publicly displayed address. The dealer might simply register the company at this address and might not have a real business place. Investors are advised to choose the dealer carefully.

Danger

United Kingdom

The Office of WTMFX in New Zealand is Bogus

The inspection team did not find the office of WTMFX in New Zealand. It operates beyond its FSPR license (No. 331326) and FCA license (No. 674510). It operates without any valid regulation. The investors should keep cautious to avoid financial losses.

Danger