Reported as a scam / unregulated
Why Kong Shing is on the register
Kong Shing claims to operate as Kong Shing Wealth Company Limited, which is registered in St Vincent and the Grenadines (SVG) and allegedly ‘regulated’ by the SVG Financial Services Authority (FSA). However, our investigation found no record of this entity in the official SVG registry. Furthermore, the SVG FSA does not regulate foreign exchange (forex) or financial trading activities; it only administers the registration of International Business Companies (IBCs). Therefore, any claim to be ‘regulated’ by the SVG FSA is misleading. Furthermore, Kong Shing displays two regulatory certificates asserting that it holds licences from New Zealand’s Financial Service Providers Register (FSPR) and Australia’s Australian Securities and Investments Commission (ASIC), both under the name Best Leader Markets PTY LTD. However, no such registration exists in the New Zealand FSPR database, and the ASIC licence for Best Leader Markets PTY LTD has been formally cancelled. Additionally, despite implying operations in Comoros, Kong Shing holds no valid authorisation from any regulatory body in that jurisdiction. In summary, Kong Shing appears to have no legitimate regulatory oversight and is likely a scam.
If you have money with this broker
- Stop sending funds. Do not pay any further “fees”, “taxes” or “verification” charges to release a withdrawal — this is a common secondary scam.
- Preserve evidence. Save transaction IDs, wallet addresses, chat logs, and every screenshot before the account is closed.
- Report it. Notify your bank/exchange and your national financial regulator so the activity is on record.
- Get guidance. Tell us what happened and we will point you toward the right next step. We are a free public registry — we never charge any fees.
SentFunds is an information and referral service. Listing reflects reported concerns and public findings; it is not a legal determination.