Bitcore Momentum New Zealand has been flagged by Financial Markets Authority for "Fraud and Other Types of Misconduct". The FMA has become aware of a large number of websites promoting fake cryptocurrency investment platforms to New Zealanders.
We recommend extreme caution when dealing with any of the websites/platforms listed below. They are not registered to provide financial services in New Zealand.
If you ... This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Tried to withdraw my funds from Bitcore Momentum New Zealand and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Pros: Professional looking website
Cons: Lost entire investment|Reported to authorities|Unresponsive
My withdrawal from Bitcore Momentum New Zealand was rejected three times for vague reasons. Each time they asked for more documents. When I finally provided everything, they said my account was under review. for nearly two years of being strung along.
Pros: Transparent fees|Comprehensive tools|Helpful community forum|No hidden fees
Cons: Limited ETF selection|Charting tools need more indicators
I was about to invest with Bitcore Momentum New Zealand but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Financial Markets Authority has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Cons: Flagged by Financial Markets Authority|Cannot verify credentials
I lost a significant amount because Bitcore Momentum New Zealand did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Intuitive for beginners|Comprehensive tools|Quick verification|Full transparency
Cons: No phone support on weekends
I experienced a security concern with my Bitcore Momentum New Zealand account and reported it immediately. Their response time was inexcusable for a financial platform. It took them four days to acknowledge my report and another week to actually address it.
Pros: Real-time alerts|Multi-device support|Portfolio tracking tools|Detailed reporting
Cons: No crypto staking|Account statements could be more detailed