BehindMLM reviewed FX United back in February.

With a passive 150% ROI offered on $300 to $10,000 investments,
FX United
raised some serious compliance issues.

The sum total of (FX United) is an opportunity that comes off as pretty suss. You don’t really know who’s running it, from where, or what they’re doing with your invested funds.

That’s not smart business, making FX United an opportunity you should probably stay clear of.

As is common with schemes run by anonymous admins, FX United claimed to be registered in an out of the way jurisdiction.

That jurisdiction is New Zealand, who have little to no track record of MLM regulation.

Despite that, New Zealand’s Financial Markets Authority (think SEC) still took it upon themselves to issue a warning against FX United.

An FMA warning is triggered when a company, who is registered on the Financial Service Providers Register, is

the subject of complaints about loss of investor funds, or other serious misconduct that suggests customers may lose money.

Upon receiving a complaint about a company on the FSPR, the FMA ‘
will ask for an explanation, and expect a response.
‘

If a company does not respond or provide a “satisfactory response”, the FMA issues a warning.

On the 4th of May the FMA added FX United to their “Businesses to be wary of” list. The regulator claims they have

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.

Like regulators the world over, the FMA 
do not
certify legitimacy of companies.

The FMA does not confirm legitimacy or endorse any entity in this manner. We recommend NZ consumers exercise caution when dealing with any business claiming to be endorsed by the FMA.

Seeing as FX United management are in hiding, perhaps an affiliate can explain to us why a legitimate MLM opportunity is running around telling porky pies about regulators…

🤖 Quick Answer

What warning did New Zealand's FMA issue regarding FX United?
New Zealand's Financial Markets Authority issued a warning against FX United, an investment scheme offering 150% passive returns on investments between $300 and $10,000. The FMA cited compliance issues, lack of transparency regarding management and fund handling, and unverified claims of registration in New Zealand jurisdiction.

Why did FX United raise compliance concerns?
FX United raised serious compliance issues due to its unusually high promised returns of 150% ROI, anonymous administration, unclear operational structure, and undisclosed information about fund management and utilization of invested capital.

What jurisdiction did FX United claim to operate from?
FX United claimed registration in New Zealand, a jurisdiction with minimal regulatory track record for multilevel marketing schemes, despite being identified and warned against by the country's Financial Markets Authority.

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