AkashX has received a securities fraud warning from New Zealand’s Financial Markets Authority (FMA).

As per the FMA’s May 2nd AkashX warning;

The FMA has been made aware of online webinars hosted by AkashX promoters in New Zealand.

AkashX is not authorised to provide financial services in New Zealand. The FMA recommends caution when dealing with AkashX or its promoters.

AkashX is not licensed or registered to provide advice about financial products to New Zealand investors.

The FMA recommends caution when dealing with AkashX or anyone promoting its products or services.

In addition to AkashX’s website, the FMA cites the following domains:

  • startittransform.com – disabled domain as of May 3rd, 2025
  • wealthmaster101 – AkashX promoter website registered to Three Son Marketing LLC, a Florida shell company owned by Lynette Henk

  • tap-to-trade.com – AkashX promoter website registered to Thomas Dewerzeny, German AkashX promoter since December 2024

AksashX and parent company My Daily Choice failing to register with the FMA constitutes securities fraud.

AkashX and My Daily Choice are run by CEO Josh Zwagil.

Through AkashX consumers are able to receive passive returns, purportedly derived through a trading bot. The first iteration of AkashX collapsed in August 2023.

Through his company MLM Protec LLC, Zwagil has also started to develop investment schemes for third-parties.

According to his LinkedIn profile Zwagil is based out of Maryland in the US. Neither AkashX, My Daily Choice or MLM Protec LLC are registered with the SEC or CFTC.