An FX Trend Review To Keep You Informed About The Broker
FX Trend is one of a vast number of New Zealand based brokers that were significantly affected by the new rules and regulations prescribed by the Financial Markets Authority (FMA) of New Zealand. New Zealand had attracted a monumental amount of criticism and negative feedback from investors and experts from all over the world due to their inadequacy in dealing with broker scams, which led to the strengthening of the regulatory structure in the country to increase transparency among financial market participants. The new steps taken by the New Zealand Government aims to create an environment of safety and stability, which has helped the FMA to create a regulatory framework that is designed to supervise member firms according to a strict code of conduct. FMA’s intervention into the regulation of Forex brokers in New Zealand has spelled disaster for FX Trend, which is currently not regulated by any authority. Therefore, FX-Trend regulation and its subsequent authorizations have been put on hold indefinitely. FX Trend has its main office and representative offices in Ukraine and Poland, but the broker does not have any sufficient authorization or regulatory licenses from any known agency. FX Trend is also known to have indulged in several financial malpractices; therefore, traders must be careful while choosing FX Trend for their Forex trading needs.