Providing further evidence that FX United are not engaged in legitimate investment activity, news today that the New Zealand Companies Office has deregistered the company as a Financial Services Provider.

According to the Companies Office listing for United Global (FX United’s parent company), the company was deregistered

under section 18(1B) of the Financial Service Providers (Registration and Dispute Resolution) Act 2008.

Section 18 (1B) of the FSP Act states:

The Registrar must deregister a financial service provider after a notice period in accordance with sections 19 and 20, if the Registrar is satisfied that the provider is not in the business of providing a financial service.

FX United
claim they offer investors access to active and passive forex trading. ROIs offered by the company however lends itself to Ponzi fraud.

The general consensus is FX United is being by scammers out of Malaysia, mostly targeting naive Malaysian investors.

That the New Zealand Companies Office was unable to verify any legitimate financial services being offered by FX United, speaks for itself.

Pending any objections, United Global is
scheduled
to be struck entirely from the Companies Office register on June 17th.

🤖 Quick Answer

What was the reason for FX United's deregistration in New Zealand?
The New Zealand Companies Office deregistered FX United as a Financial Service Provider under section 18(1B) of the Financial Service Providers (Registration and Dispute Resolution) Act 2008. The Registrar determined the company was not legitimately engaged in providing financial services, despite claims of offering forex trading access to investors.

What does section 18(1B) of the FSP Act stipulate?
Section 18(1B) of the Financial Service Providers Act 2008 establishes that the Registrar must deregister a financial service provider after following specified notice procedures if satisfied that the provider is not actually conducting business as a legitimate financial service provider.

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