The New Zealand FMA has warned about Mic-Market, which falsely claims to be registered in multiple jurisdictions.
As Finance Magnates learned, the company cloned the licensed Cypriot broker Colmex's website and credentials.
The New
Zealand FMA added Mic-Market to its warning list today (Tuesday), exposing the
broker's false claims of being licensed in Cyprus, UAE, and South Africa. The
regulator also revealed connections between Mic-Market and Trader AI, a firm
previously flagged by Australian ASIC.
Finance
Magnates has
discovered that Mic-Market is nearly an exact clone of CySEC-licensed broker
Colmex, using both their license number and website design.
Mic-Market Impersonates
Cyprus-Based Colmex
“We
are aware that Mic-Market has contacted a New Zealand resident with the aim of
offering financial services,” stated
the FMA in Tuesday's announcement. “Mic-Market advised the New Zealand
resident that they are associated with Trader AI, which is the subject of a
warning by the Australian Securities and Investments Commission.” You
can check the ASIC warning here.
The FMA
emphasizes that Mic-Market lacks licensing in New Zealand and other
jurisdictions where it claims authorization. The broker's official website
(micmarkfx.com) falsely displays license numbers from Cyprus (123/10) and South
Africa (46990).
A check of
the CySEC registry reveals that the cited license number has
been associated with Colmex Pro Ltd for 14 years, operating through
colmexpro.com. Similarly, the FSCA license belongs to the same broker,
registered in South Africa since 2016.
Comparing
Colmex and Mic-Market websites shows that the entity warned by FMA is clearly a
clone. Except for the logo, both sites are almost identical.
The original Colmex website
The cloned Mic-Market website
Mic-Market
also uses Colmex's correspondence addresses, having only changed phone numbers and
email addresses.
Finance
Magnates found that
the fake broker allows trading account registration, posing a potential risk of
fund loss.
Watch Out for More Clones
Mic-Market
represents one of the latest examples of complete website and data cloning of a
licensed, long-established retail CFD broker.
Finance
Magnates reported
several months ago that other popular brokers, including AvaTrade, LCG, and
JFD, fell victim to similar scams.
Previously,
warnings were issued about a cloned XTB website, first flagged by the UK's FCA.
The site operated under xtbtrading.org and appeared nearly identical to XTB's
official UK website.
While
Mic-Market aimed to attract new clients, the fake XTB could have used its
deceptively similar domain name and website to mislead investors into logging
into the fraudulent site, risking account credential theft and potential
account compromise.
The New
Zealand FMA added Mic-Market to its warning list today (Tuesday), exposing the
broker's false claims of being licensed in Cyprus, UAE, and South Africa. The
regulator also revealed connections between Mic-Market and Trader AI, a firm
previously flagged by Australian ASIC.
Finance
Magnates has
discovered that Mic-Market is nearly an exact clone of CySEC-licensed broker
Colmex, using both their license number and website design.
Mic-Market Impersonates
Cyprus-Based Colmex
“We
are aware that Mic-Market has contacted a New Zealand resident with the aim of
offering financial services,” stated
the FMA in Tuesday's announcement. “Mic-Market advised the New Zealand
resident that they are associated with Trader AI, which is the subject of a
warning by the Australian Securities and Investments Commission.” You
can check the ASIC warning here.
The FMA
emphasizes that Mic-Market lacks licensing in New Zealand and other
jurisdictions where it claims authorization. The broker's official website
(micmarkfx.com) falsely displays license numbers from Cyprus (123/10) and South
Africa (46990).
A check of
the CySEC registry reveals that the cited license number has
been associated with Colmex Pro Ltd for 14 years, operating through
colmexpro.com. Similarly, the FSCA license belongs to the same broker,
registered in South Africa since 2016.
Comparing
Colmex and Mic-Market websites shows that the entity warned by FMA is clearly a
clone. Except for the logo, both sites are almost identical.
The original Colmex website
The cloned Mic-Market website
Mic-Market
also uses Colmex's correspondence addresses, having only changed phone numbers and
email addresses.
Finance
Magnates found that
the fake broker allows trading account registration, posing a potential risk of
fund loss.
Watch Out for More Clones
Mic-Market
represents one of the latest examples of complete website and data cloning of a
licensed, long-established retail CFD broker.
Finance
Magnates reported
several months ago that other popular brokers, including AvaTrade, LCG, and
JFD, fell victim to similar scams.
Previously,
warnings were issued about a cloned XTB website, first flagged by the UK's FCA.
The site operated under xtbtrading.org and appeared nearly identical to XTB's
official UK website.
While
Mic-Market aimed to attract new clients, the fake XTB could have used its
deceptively similar domain name and website to mislead investors into logging
into the fraudulent site, risking account credential theft and potential
account compromise.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
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Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
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Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
