ANSWER Dear Investor,
Kong Shing claims to operate under Kong Shing Wealth Company Limited, registered in St. Vincent and the Grenadines and regulated by the Financial Services Authority (FSA) of St. Vincent and the Grenadines. However, we found no record of this company in the official registry of SVG FSA. More importantly, the SVG FSA does not regulate forex or financial trading, it only registers International Business Companies (IBCs). Thus, any claim of being regulated by it is misleading.
Kong Shing also displays certificates suggesting licenses from New Zealand’s Financial Markets Authority (FMA) and Australian Securities & Investments Commission(ASIC) under the name Best Leader Markets PTY LTD. Yet, there is no such registration in New Zealand’s FMA, and the ASIC license for that entity has been officially cancelled.
Additionally, despite implying a presence in Comoros, Kong Shing holds no valid authorization from any regulator there. In short, Kong Shing appears to have no legitimate regulatory oversight and shows strong signs of being a scam. We strongly advise you to avoid any dealings with this platform.
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