NZ FMA Warns Against MLM Schemes Offering Financial Services Without Registration: XPro, Shiiro Academy, B2Pay, Homnifi

The Financial Markets Authority of New Zealand (NZ FMA) has issued a warning regarding XPro, a Multi-Level Marketing (MLM) scheme offering financial services without registration and making false and misleading claims to investors. The regulator has learned that several individuals are promoting XPro within the country.

According to the FMA, XPro markets financial products and services from several associated entities—Shiiro Academy, B2Pay, and Homnifi—all of which lack the necessary authorizations to operate in New Zealand. None of XPro’s partner schemes are members of an approved dispute resolution scheme, leaving investors without legal recourse in case of complaints.

Therefore, the FMA strongly advises caution when engaging with XPro, its promoters, or any of its partner schemes.

Details about XPro and its associated providers are listed below, and the FMA further sets out its concerns about these schemes:

XPro

websites: Xpro.gitbook.io, Xbackoffice.myxpro.app 

email: support@xpro.global   

Social media profiles: 

Youtube: @XPRO.GLOBAL, @GeniusInvestors

Instagram: @xpro.global

Facebook: xerapro.official

Threads: @xpro.global

XPro does not directly offer financial products or services but promotes those of its partner organizations through a subscription-based “rewards program”. Subscribers earn commissions for selling partner products and recruiting new members into the scheme.

None of XPro’s partners are registered on the Financial Service Providers Register (FSPR), nor are they licensed to operate in New Zealand. Additionally, some have been accused of making misleading claims about their financial products and services.

Shiiro Academy

website: Shiiro.com

email: support@shiiro.com

Social media profiles: 

Youtube: @ShiiroGlobal

Tiktok: @shiiro.global

Instagram: @shiiro_global

Telegram: shiiroglobal

Shiiro Academy claims to offer “trading signals” for forex derivatives and recommends specific trades to its members. However, it is not licensed to provide financial advice in New Zealand and remains unregistered on the FSPR.

The FMA has flagged Shiiro Academy for making unsubstantiated investment claims, such as promises to "GET RICH QUICK" and "EARN $10,000 OVERNIGHT," which the regulator deems misleading and unrealistic.

Forex derivatives are very high-risk investments, and investment in these products usually carries significant financial risk, cautions the FMA, warning, “Be wary of any derivatives advisers or coaches who claim that they can give you access to easy money or help you get rich quickly.”

B2Pay

website: B2Pay.app

email: support@b2fintech.com

Social media profiles: 

Tiktok: @b2pay

Instagram: @b2fintech

Facebook: B2Fintech

Threads: @b2fintech

B2Pay provides cryptocurrency payment cards but is not registered on the FSPR or authorized to provide this service in New Zealand.

Homnifi

website: Homnifi.com

Social media profiles: 

Youtube: @Homnifi

Instagram: @officialHomnifi

Facebook: Homnifi

X: @Homnifi

Telegram: Homnifi

Homnifi offers cryptocurrency wallet services, facilitating deposits, withdrawals, and transfers. Like XPro’s other partners, it is unregistered and unauthorized to provide such services in New Zealand.