Nava Gates Review – 5 things you should know about Navagates.com

Nava Gates Review – 5 things you should know about Navagates.com

Beware! Nava Gates is an offshore broker! Your investment may be at risk.

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Nava Gates is a CFD brokerage based presumably in the UK. It provides the MetaTrader 4 trading platform and requires a minimum deposit of $250 and extends a leverage of up to 1:400, however, the spread is quite unfavorable at 3 pips on EUR/USD

Nava Gates regulation & safety of funds

The brokerage claims to be owned by a UK-based company, however, no further corporate information is disclosed which renders the website anonymous. Upon running a check through the online registry of the FCA we did not find any relevant information regarding the broker brand on the website of the British financial watchdog. This means the brokerage is providing financial services without proper authorization. We highlight the danger in doing business with an anonymous website since the people behind it do not answer to any authority and have no reason to uphold the client agreement. It is safe to say that there is tremendous risk on any transactions interested traders may conclude with the brokerage and we deeply recommend they look elsewhere for viable trading options.

Traders needn’t have to worry themselves with such risk if they choose to trade with a brokerage regulated and authorized by a prestigious regulatory agency. Such agencies are the FCA in the UK or CySec in Cyprus which have been leading names in Forex trading for some time now. Their regulatory framework is composed of a number of strict rules which prevent clients from falling victims to fraud. Such rules include the segregation of accounts which assures that commingling with the client’s money is not possible. Furthermore, a license by such a regulatory body entails participation in a financial mechanism by which clients may be compensated if they suffer losses due to fraud or bankruptcy. With the FCA the compensation is up to 85 000 pounds, where as with CySEC it is up to 20 000 euro per person.

Nava Gates trading software

 The MetaTrader 4 trading platform is supported which is something we always consider an advantage since the MT4 is among the foremost trading terminals in Forex trading at the moment, close to 80 percent of users prefer it. The platform provides an advanced charting package, lots of technical indicators, extensive back-testing environment and a variety of Expert Advisors (EAs). Through a demo account we were able to see a wide range of trading options, including CFDs on currency pairs, stock, indices and many more, however, the spread is above the industry average and unfavorable in  our opinion.

Nava Gates deposit/withdrawal methods and fees

Potential clients of a brokerage may deposit or withdraw via the standard Visa and MasterCard, as well as bank wire, however, E-wallets such as WebMoney, Skrill or Neteller are sadly not supported.

We did not find any stated withdrawal fees either, however, dealing with unregulated brokerage we may never be sure whether they wont charge unexpected fees once the clients have deposited their funds.  There are also withdrawal conditions pertaining to accounts that have taken advantage of the bonus promotion. A trader has to achieve a certain trading volume in order to be eligible for withdrawal which is purposefully excessive in order to impede any trader from actually receiving his money.

Such website are also the reason we advise traders to always put up only the required minimum deposit, instead of risking a bigger amount with no certainty. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Such fees and delays are usually the signs of a scammer.

How does the scam work?

Even though the forex trading world is extremely large and encompasses millions of people around the globe, the most common scamming is pretty simple and straightforward and as such – it’s not particularly daring to avoid. Here is a quick overview of how it is done:

Through clicking an ad with promises for fast money, you will be redirected to a website such as Bitcoin Evolution or Cashless PayGroup where registration will require you to give your address, email and phone number. After sharing your personal information, you will being receiving calls from brokers, compelling you to invest with them and win big. After a few minutes hearing their pitches, you decide to deposit some $200-250. And just like that – the scammers take a fat commission from this initial deposit.

After they are done with you, senior scammers begin working you into putting even more money. They say it’s the only way to profit from trading even more. After making the mistake of investing even further, you’ll begin wanting to get out of this and withdraw what you have left.

Unfortunately, the con-artists have no such thing in mind. They will now begin persuading you to wait it out and not withdraw right now. The angle here is pretty blunt – traders have a limited time period for filing a chargeback with their bank and get their money back. The “recovery department” will simply want to mislead you into missing thе crucial period and, along the way, losing any chance you might have of getting the money back.

It is important here to take notice that both Visa and MasterCard are taking measures to combat unregulated forex brokerages by classifying all forex transactions as high risk. And with the case Btcoinpro – they are correct in doing so. Furthermore, supporting their intention with clear actions – MasterCard has increased the previous time period of six months for filing a chargeback to a year and a half.

What to do when scammed?

As was mentioned above, scamming is quite the common in the trading world and, sadly, even you might suffer from it. In such an unfortunate case there still may be some available options for you.

You may contact your bank or credit card provider and file a chargeback. 

If, however, you have provided the broker with your credit card details, immediately cancel your credit card.

If you have given information regarding your online banking pass – you should switch it asap!

Beware of potential calls from self-described “recovery agencies”! They prey on scammed and vulnerable traders who are desperate to recover their losses. They will require an “up-front” payment to help you, but after paying them, no such help will be coming your way!

 

Rich Snippet Data
Review Date
Reviewed Broker
Nava Gates
Broker Rating
1.11star1stargraygraygray

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13 Comments

  1. No withdrawal
    I started with navagates from 750£.
    I was assigned with so called broker – David. Trades that he did were in floating losses. I decide to stop and close my account. They were trying to convince me to continue trading with them and provide me with another broker. Anyway I was insisting on the withdrawal. They were keep promising that they will return my money . Still nothing, I’m waiting already for more then 2 weeks now. Now, they block me and I’m not able to contact anyone. Wouldn’t recommend

    1. Hi I have just had a call from David. He wanted to access my computer. I have paid my initial payment but have asked for time to consider the access. Have you made any money?

  2. I have send 500 € to the account, and yes i have been making money cause of my own trades
    they persisted that i shouldn’t trade on my own
    Now i have 788 usd on the account
    I tryed to ask for a withdraw but that isin’t going to happen
    tryed several times i don’t get any response
    After Delaney Micheal has tryed to convince me to make a bigger deposit
    as it was obvious to them i would not do it i lost all contact and they won’t respond or
    accept my withdraw demand

  3. Hey guys, I started my adventure with them about three weeks ago. I signed up and they called me almost immediately and I decided to deposit 250 euro. Luckily as this is a scam I got my initial deposit back almost a week later due to a RR04 SEPA reason code, I presume they didn’t set me up in the correct manner. I am happy that I got my money back and I would advice anyone to stay away from Navagates and their scam sites.

    1. HI Lars, I ve been reading all these reviews as Im trying to help my mother get her £250 deposit back. Apart from paying the deposit she hasn’t gone any further with investing. Nathan is calling her almost every day but for some reason every time she picks up the phone it gets cut off. I have tried contacting them on all numbers but no luck….suprise surprise!! So I’m just wondering if you had any details you could share on how we could try to get the deposit back using RR04 SEPA. Did you do it through your bank? Many thanks SJ

  4. Też zostałem oszukany 250 € wpłacone i nie moge teraz ich wypłacić. Jeszcze powiem, że nie dokończyłem rejestracji teraz cały czas dzwonią do mnie i namawiają na pozostanie. Pieniędzy już raczej nie odzyskam. Karte visa zastrzegłem i hasła pozmieniałem. Bank już też o tym wie i podałem sprawe na polcje za wyłudzanie pieniedzy
    ———————————-
    I have also been cheated on a € 250 deposit and I cannot withdraw it now. I will say that I haven’t finished the registration, they are calling me all the time and urging me to stay. I won’t recover any more money. I have reserved the visa card and changed my password. The bank already knows about it and I gave a case to the police for extorting money

  5. I too have been scammed by Nava Gates, stupidly I invested around £2,000 with them as my account showed significant profit but as soon as I tried to get my money out they find every excuse you can think off to delay the withdrawal, I’ve threatened them with reporting them to Forex & the Financial Conduct Authorities in UK but that doesn’t seem to bother them. Still not got my money back but still working on it
    Anyone reading this & thinking off investing in Bitcoin or Forex use a recommended broker & not Nava Gates, they are unregulated & criminals!!!

  6. I’m here because I was looking for information after a friend was scammed by them. All the people who have commented so far got off lightly, my friend’s case involves a very large number. Were it not for me he would have almost immediatley given another 2000$ to a scam recovery agency. Make no mistake, Navagates is a scam site and is now on the FCA’s (UK authority) blacklist. Be careful out there folks.

  7. I have started with 250£ deposit, which was the minimum I could invest.I was assigned with Sarah, who used to call me once or twice a week.In 2 weeks time she made some money on top, so I thought everything is going well. Then she asked me to invest 5000£ and promised that in one month time she can make another 4000-5000£on top. So I believed her and invested this money.Everything started to be suspicious when I wanted to withdraw a part from my money I have invested, and she said is not possible and that she has to start from scratch. Then she said we can close my portfolio and get all my money back and I agreed. After a couple of days she said that i can not get my money back and that I have to invest another 30000£.Of course I didnt believe them anymore. Now I can not get my money back, this was the biggest mistake in my life. Do not beilieve them and do not invest any money, it is a fake company.

  8. I registered with crypto bull app site…
    I registered with crypto bull app site to use thire platform and siftware. I was directe to there apointed broker to pay a deposit. I was contacted by nava gates REP ( all Good) then PR ( all good) and then sinior account manager ( all Good) but after I paid my deposit they did not provude me with crypto bull app softrware. They conected me to MT4. After I complained and requested my money to be refunded, With out My knowledge or mu concent the boroker palced a Buy / sell order on my behalf Iligaly. They handled my acount and passed in from one account managar to another. 4 weeks on I am still fighting to recover my money. The brokers placed orders with out me knowning and my permission. I didnt even know that I had somany trades opened. even when i found out I was unable to close or have the control of closing the trades or control of my investments .

    David Lee

    Senior Account Manager :bomb Phone +41225083252

    Nathan Goldman

    Senior Account Manager

    reee

    Phone +441568667233

    Website: navagates.com
    Eva Mace
    Senior Account Manager

    Phone +41225083252

    Support [email protected]
    com

    Website navagates.com

  9. Zostałem oszukany na kwotę ponad 30 tys. USD.
    Niejaki Patrik Woźniak oraz Anton Florov to osoby, z którymi miałem kontakt. Patrik Woźniak sprawiał wrażenie bardzo wiarygodnej osoby. Sprawdzałem, czy działa ich system wypłat. Dwa razy wypłacałem pieniądze w kwotach około 200 USD oraz 2 tys. USD. Anton Florov oszukał mnie obiecujac, że nie będziemy przeprowadzać transakcji na Forex. Powiedział, że będziemy inwestować tylko w akcje Amazon. Ale pewnego dnia, gdy nie wpłaciłem im kwoty, której się domagał, bez mojej zgody uruchomił transakcje na Forex, na których straciłem prawie wszystkie zarobione wcześniej przeze mnie pieniądze. Teraz Patrik Woźniak cały czas domaga się, abym wpłacił im 15 tys. USD jako rekompensatę za zamknięte na minusie transakcje. Absurd polega na tym, że nie chcą mi wypłacić mojego depozytu pomimo tego, że upoważniłem ich do pobrania tych 15 tys. USD z mojego zysku. Cały czas domagają się wpłaty. Teraz wiem, że to są OSZUŚCI i zgłosiłem sprawę na policję oraz do innych służb specjalnych. Mam nadzieję, że niedługo namierzą tych oszustów, odzyskam swoje pieniądze i pociągną tych oszustów do odpowiedzialności karnej.
    ————————————————————————————
    I was cheated on the amount of over 30,000. USD.
    A certain Patrik Woźniak and Anton Florov are people with whom I had contact. Patrik Woźniak gave the impression of a very reliable person. I checked that their payout system was working. I have withdrawn money twice in the amount of around $ 200 and 2,000. USD. Anton Florov deceived me by promising not to trade Forex. He said, we will only invest in Amazon stocks. But one day, when I didn’t pay them the amount they demanded, he launched Forex trades without my consent, on which I lost almost all the money I had earned before. Now Patrik Woźniak is constantly demanding that I pay them 15,000. USD as compensation for negative closed transactions. The absurdity is that they don’t want to pay me my deposit even though I have authorized them to take the 15,000. USD from my profit. They are demanding payment all the time. Now I know they are SCAMMERS and I have reported the matter in details to the police and other special services. Hopefully they will track down these scammers soon, get my money back and bring these scammers to justice.

    1. Witam .Proszę o kontakt gdyz zostałem w identyczny sposób oszukany.
      ————————————
      Hello. Please contact me because I was cheated in the same way.

  10. Frances
    Same Stories as above I spoke with David and Nathan they scammed me out of a lot of money .
    These people should be locked up

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