New Zealand’s Financial Markets Authority (FMA) did not formally “blacklist” or shut down ZonggangCaifu. On 19 December 2018, it published a warning saying the business was not registered, licensed, or regulated in New Zealand as claimed on its websites.
The FMA also said ZonggangCaifu displayed four Financial Service Provider (FSP) registration numbers that belonged to companies in the KVB Kunlun group. According to the regulator, KVB Kunlun was not affiliated with ZonggangCaifu or its websites. The FMA warned that ZonggangCaifu could be involved in a scam.
What the FMA warning said
The warning concerned a business using the name ZonggangCaifu and the following websites:
www.zgtra.comwww.zgangfx.comwww.zongforex.com
The FMA’s published reason for warning was that ZonggangCaifu was “not registered, licensed, or regulated in New Zealand as claimed on its websites.” That wording matters. The FMA described a regulatory warning, not a licence cancellation, court judgment, prohibition order, or criminal conviction.
The regulator’s warning remains in its online Warnings and alerts database. Its continued presence does not establish that the named domains are still operating or that the business currently solicits New Zealand investors.
The four FSP numbers were not ZonggangCaifu licences
The websites displayed these four registration numbers:
| FSP number | What the FMA said |
|---|---|
| FSP1782 | Belonged to the KVB Kunlun group of companies |
| FSP1762 | Belonged to the KVB Kunlun group of companies |
| FSP488226 | Belonged to the KVB Kunlun group of companies |
| FSP536586 | Belonged to the KVB Kunlun group of companies |
The FMA said KVB Kunlun was not affiliated with ZonggangCaifu or the websites named in the warning. In practical terms, investors should not treat those numbers as evidence that ZonggangCaifu was authorised to provide foreign-exchange services.
There is also a broader point about New Zealand’s Financial Service Providers Register (FSPR): an FSP number is a registration number, not automatically proof that a firm holds an FMA licence or is supervised by the FMA. In this case, the FMA made a more specific allegation—that the numbers shown by ZonggangCaifu belonged to another corporate group.
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Was ZonggangCaifu found guilty of fraud?
No. The FMA stated that ZonggangCaifu could be involved in a scam. That is a serious regulatory warning, but it is not the same as a criminal conviction or a judicial finding of fraud.
No subsequent prosecution, court judgment, compensation order, or formal licence-revocation proceeding against ZonggangCaifu was identified in the source material for this report. Claims that the broker was “convicted of fraud” or that the FMA “revoked its licence” go beyond the published record.
What about the Hong Kong SFC reference?
The FMA also said it had noted that Hong Kong’s Securities and Futures Commission (SFC) had listed www.zongforex.com on its alert list as a “suspicious website.”
That was a historical reference reported in the FMA’s 2018 warning. The historical SFC link embedded in the FMA page now redirects to an SFC 404 page, and a current SFC listing was not independently confirmed. It is therefore more accurate to say that the FMA reported an earlier SFC alert—not that the SFC currently lists the domain.
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A broker’s website can display regulatory-looking numbers, logos, and claims that do not match the regulator’s records. Before depositing money, check the firm itself rather than relying on a registration number copied from its website.
- Find the legal entity. Record the company name, registered address, licence jurisdiction, and the regulator it claims to answer to. A trading brand or website name may not identify the legal operator.
- Search the regulator’s own register. Use the regulator’s website and search the exact legal entity, not just a number. Confirm that the licence covers the actual service being offered, such as leveraged foreign exchange or contracts for difference.
- Check the contact details. Compare the phone number, domain, email address, and physical address in the regulator’s record with those on the broker’s website. A genuine firm’s details should match.
- Check warnings and alerts. A clean search is not proof that a firm is safe—the FMA says its warnings list is not exhaustive—but a warning is a reason to stop and investigate further.
- Be cautious with urgent payment requests. Requests to pay by cryptocurrency, bank transfer to an unrelated account, gift card, or a personal account are major warning signs. So are promises of guaranteed returns or pressure to deposit more to release a withdrawal.
If you already sent money
Stop sending additional funds, including any supposed tax, clearance fee, recovery fee, or withdrawal charge. Save the website address, account statements, payment receipts, emails, chat messages, telephone numbers, and screenshots of the trading account.
Contact your bank or card provider immediately and ask whether a payment recall, card dispute, or account-security action is possible. The sooner the payment provider is contacted, the more useful its intervention may be. Change passwords that may have been shared with the broker and enable two-factor authentication on email and financial accounts.
Do not pay a second firm that promises to recover the money for an upfront fee. People who have already lost money are often targeted by “recovery” scams.
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New Zealand residents can report suspected investment scams to the FMA and seek guidance from their bank and the relevant authorities. A report does not guarantee recovery, but it preserves information that may help identify related websites or payment accounts.
How to describe the case accurately
The most precise summary is:
On 19 December 2018, New Zealand’s Financial Markets Authority warned that ZonggangCaifu was not registered, licensed, or regulated in New Zealand as claimed on its websites. The FMA said the firm displayed FSP1782, FSP1762, FSP488226, and FSP536586, which belonged to the KVB Kunlun group, and said KVB Kunlun was not affiliated with ZonggangCaifu. The FMA warned that ZonggangCaifu could be involved in a scam.
Calling this an FMA “blacklisting” is understandable media shorthand, but it is not the regulator’s terminology. The official record is a warning dated 19 December 2018.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.FAQ
Did the FMA ban ZonggangCaifu?
The FMA published a warning about ZonggangCaifu on 19 December 2018. The source does not describe a ban, shutdown, prohibition order, or licence cancellation.
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Was ZonggangCaifu licensed in New Zealand?
The FMA said ZonggangCaifu was not registered, licensed, or regulated in New Zealand as claimed on its websites.
What were FSP1782, FSP1762, FSP488226, and FSP536586?
The FMA said those registration numbers belonged to companies in the KVB Kunlun group and were not ZonggangCaifu’s licences. The FMA also said KVB Kunlun was not affiliated with ZonggangCaifu.
Is ZonggangCaifu still operating?
The FMA warning remains online, but that does not confirm that the named domains are currently operating or that the business still uses the ZonggangCaifu name.
Did Hong Kong’s SFC currently list Zongforex as suspicious?
The FMA reported that the SFC had listed www.zongforex.com as a suspicious website in its 2018 warning. The historical SFC link now returns a 404 page, and a current listing was not independently verified.
The Bottom Line
Bottom line: Treat ZonggangCaifu as a high-risk, unverified broker. The FMA’s 19 December 2018 warning said it was not registered, licensed, or regulated in New Zealand as claimed and that it displayed FSP numbers belonging to the unrelated KVB Kunlun group. The warning is not a criminal conviction, but it is more than enough reason not to deposit money without independently verified regulatory and corporate information.
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