Investor Alerts - Xcel Trader
| Company: | Xcel Trader |
|---|---|
| Regulator: | Financial Markets Authority |
| Jurisdiction: | New Zealand |
| Date: | 21 Jun 2024 |
| Link: | https://www.fma.govt.nz/library/warnings-and-alerts/xcel-trader/ |
| Subject: | Regarding fraudulent or manipulative practices (insider dealing, market manipulation, misrepresentation of material information, etc.) Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements Miscellaneous |
| Comments: | We recommend caution when dealing with Xcel Trader and its website. Xcel Trader is offering managed investment plans with unrealistic returns. It is not registered on the Financial Service Providers Register, which is required for entities offering financial products and services in New Zealand. It is claiming to be a registered company in New Zealand and shows a fake Certificate of Incorporation. This document uses the details of another New Zealand company which has confirmed no association with Xcel Trader. We have also received a complaint about Xcel Trader unreasonably withholding client funds and asking for unreasonable fees. ENTITY NAME: Xcel Trader WEBSITE: xceltrader.com ADDRESS: (Alleged) XM98+8Q Queenstown, New Zealand EMAIL: [email protected] |
