Fullerton Markets goes offshore
“LeapRate Exclusive… LeapRate has learned that New Zealand based Retail FX brokerage Fullerton Markets has gone (farther) offshore, transferring all business from its NZ entity Fullerton Markets Limited (FML) to a newly created entity in offshore jurisdiction Saint Vincent & the Grenadines, called Fullerton Markets International Limited (FMIL).”
When I saw this news item in LeapRate, I decided to look into Fullerton Markets.
We have had Fullerton Markets in our Alphabetical Listing (see post #4 ) for a couple of years, and they have always been marked “no U.S. clients”. But, I wanted to see whether anything has changed in their new jurisdiction.
I noticed this statement at the bottom of each Fullerton webpage:
“Fullerton Markets is proud is offer its list of products and services to its growing number of global clients. Spot forex and Derivatives are available to all clients. Please note: Fullerton Markets currently do not offer services to New Zealand residents.”
Okay, so I decided to open a live account.
Here’s a screen-shot of the first page I submitted. Note that there is no reference to citizenship or residency on this page. However, the country-code in my phone number (which I have redacted here) clearly indicates that I am in the U.S.
The next page in the live account application process stated the following:
“Thank you for opening a new account. Please check your email for access credentials. Kindly expect a phone call from our friendly New Zealand representatives (country code +64) to your registered phone number in order to verify your application. Failure to being verified may result in your application being declined.”
Fullerton sent an email, seeking to confirm my email address, and asking me to verify that I received their email, in order to “confirm” my account.
After I did so, they sent me another email to confirm my new account, along with instructions for uploading proof-of-identity and proof-of-address – which I have not done yet.
And I have not yet spoken to anyone by phone, because it’s past midnight here, my time…
So, I’m several steps away from actually having a live account with Fullerton Markets. But, so far, it looks as if we may have found a new offshore broker.
I will let you know how this turns out.