New Zealand's FMA Flags FX Trading Provider CCM Clearing Limited

The Financial Markets Authority (FMA) of New Zealand, in its efforts to protect consumers from scams and unauthorized activity in the financial markets, has added a new warning to its website on Monday which highlights the activities of CCM Clearing Limited.

According to its website, CCM Clearing Limited claims to offer: “a trading facility on a wide range of financial instruments, ranging from foreign exchange, foreign exchange options, to Contracts for Differences (CFDs) on stocks like crude oil and precious metals.”

However, the FMA has warned that this firm is not registered to provide financial services in New Zealand. Furthermore, the company has been accused of unreasonably withholding the money of its clients, which has prompted the regulator to warn consumers that it may be a scam.

Associated Entities

CCM Clearing Limited operates via its website www.ccmclearing.com and claims its address is Stefano Street, 23A Sophia, Bulgaria. According to the warning, the company is also linked to Rocket Consultant Group and World Advisory Group.

Via its website (www.rocketconsultantgroup.com), Rocket Consultant Group claims to provide access to forex and metals options trading through its Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term UTRADEPro. The firm also states that it facilitates forex spot trading and contracts for difference (CFDs) for equity indices, corn, wheat, crude energy, and gold.

World Advisory Group (www.worldadvisorygroup.com), on the other hand, states that it is: “The only platform offering true multi-bank Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term and cross-asset margin trading for Forex, CFDs and Options from one account.”

Rocket Consultant Group, provides the following addresses for its operations - Bahnnhofstr. 100 4. Etage, 8001 Zurich, Switzerland; Torres De Las Americas Panama City, Panama; An der Welle 4, 1st Floor, 60322 Frankfurt am Main, Germany and 1 Austin Road West, Kowloon, Hong Kong. World Advisory Group lists its address as Rue Du Rhone 14, 1204 Geneve, Switzerland.

As a result, residents of New Zealand should not only avoid CCM Clearing Limited but also its associated entities Rocket Consultant Group and World Advisory Group.