New Zealand financial regulator Financial Markets Authority (FMA) has issued scam warnings regarding two websites targeting retail investors and traders, TopMarketCap (at topmarketcap.com) and Equity Corp (at equitycorp.org).

The FMA said that it is concerned that the operators of topmarketcap.com may be operating a scam. The regulator said it has received reports of investors in the company being unable to withdraw their investments. TopMarketCap does not hold a Derivative Issuer License and is not a registered financial service provider in New Zealand or licensed by the FMA (or, in any other location as far as we can tell). As such, they are not permitted to offer derivative trading services to New Zealand retail customers.

Regarding Equity Corp, the FMA also said it is concerned the operators of the website equitycorp.org may be operating a scam. Equity Corp is quoting details associated with Equity Corporate Limited and Cambridge Partners Limited, companies incorporated in New Zealand. The regulator said it understands the operators of the website are using the details of these companies without permission. The operators of equitycorp.org are not a registered financial service provider in New Zealand, or able to offer financial services to New Zealand residents.

FNG reminds its readers to only trade with a broker properly licensed in your jurisdiction.