NFX.ae review – 5 things you should know about nfx.ae

NFX.ae review – 5 things you should know about nfx.ae

Beware! NFX.ae is an offshore broker! Your investment may be at risk.

RECOMMENDED FOREX BROKERS

IG USForex.com

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

 

We are reviewing NFX.ae, a broker that’s stuffed its website with fraudulent claims and pieces of conflicting information, so we reasonably believe that’s a dirty scam. Even as potential scammers, they fail big time because each of their statements is just ridiculously easy to disprove. Find out how we managed to expose this broker as a scam in the full NFX.ae review. 

NFX.ae REGULATION AND SAFETY OF FUNDS

We found fraudulent claims about regulations. First of all, NFX.ae is introduced as a domain belonging to NUCLEAR FX TRADING LIMITED, a British company that’s actually not licensed to sell trading or investment services. Moreover, the domain itself isn’t linked to regulated companies, indicating that NFX.ae is potentially a scam. Potentially, for now.

NFX.ae states to be regulated by various financial authorities, including the CySEC in Cyprus, ASIC in Australia and VSFC in Vanuatu. Well, that’s a lie presenting us with even more evidence of a scam.  Your funds are in danger because NFX.ae is a scam that’s purposely misleading people to entice them into the scheme. In the following sections, we’ll show you more proof to support our accusation.

Avoid this sham enterprise and see the high-rated EU brokers and British brokers on these lists. We strongly recommend those companies because Europe is one of the few places where clients’ funds are guaranteed by deposit insurance funds. For example, CySEC brokers’ traders can claim 20 000 EUR in compensation, while the British protections are up to 85 000 GBP per person. If you can open an account with a European company, go ahead. It’s a no-brainer.

NFX.ae TRADING SOFTWARE

NFX.ae provides with MetaTrader5, which would be an advantage under different circumstances, but not in this case because NFX.ae is a scam. In fact, it even makes things worse because many traders may find themselves enticed by the platform alone. The EUR/USD spread is 1.9 pips, which isn’t actually the best Buy/Sell difference. The spread is the price traders need to pay to open a position on the market, so lower rates are beneficial and may indicate whether the broker is worthy or not. Many reputable brokers that are safe and strictly regulated offer spreads of 1 pip and below, so it’s not challenging to find a better opportunity.

You can easily pick some if you check the high-rated MetaTrader4 brokers and MetaTrader5 brokers on these lists. Both MT platforms are the market leaders, also providing sophisticated trading tools such as Expert Advisors, Algo Trading and many complex indicators, to name a few. MetaTrader also features a marketplace where you can find more than 10 000 apps and third-party developed solutions you can deploy. 

We found fraudulent claims about leverage. On separate web pages, they claim to offer maximum possible leverage of 1:100, 1:200 and 1:500, respectively. Worse though, on a single occasion, they claim to provide “custom leverage”, meaning that the ratio may as well shoot up to 1:1000 or 1:2000. Who knows? There are way too many information discrepancies, so we can’t verify anything whatsoever. Those guys even fail to meet the minimum standards for a decent scam!

Nevertheless, we are going to mention some regulatory restrictions because leverage can be a dangerous financial tool that was effectively put under control. As a result, EU, British and Australian brokers are limited to 1:30, while the Canadian brokers and the US brokers can’t provide more than 1:50. However, if you are risk-tolerant, you may as well have a look at Swiss brokers, which are reliable but not leverage restricted. 

NFX.ae DEPOSIT/WITHDRAW METHODS AND FEES

The minimum deposit with NFX.ae is $100, which is pretty much the industry standard. The single funding method is Credit/Debit cards, but as you’ve probably guessed, we can’t validate this. However, we’ll show you yet more evidence of a scam, but right after the lists with Skrill brokers, Neteller brokers, FasaPay brokers, Sofort brokers, and Bitcoin brokers. The high-rated companies you’ll see are adequately regulated, so you won’t stumble upon scammers.

We can’t verify funding methods also because we refused to register. We did so because they insist on providing various ID proof documents during the sign-up process, which we naturally declined to submit. We believe that NFX.ae may as well be involved in Identity Theft fraud because it’s not a common practice for brokers to demand identity verification so early. On the other hand, scammers are craving for your personal documents, which will help them carry out further illicit activities. 

Identity Theft is a common type of fraud, which speaks for itself.  It happens when dodgy people get hold of your sensitive information such as ID card numbers, bank card numbers, passwords etc. They will use this information to drain up your bank accounts, take out lines of credit in your name, register companies with your details and so on. Be cautious, and do not ever share your personal information with suspicious brokers.

The T&Cs are also fraudulent, as already shown. However, there is no information about withdrawals, fees, dormant account procedures, refund policy, bonuses or any other trading provisions. Well, even if there were some, we wouldn’t be able to validate those.

Overall, NFX.ae is a scam, so make sure to stay away from this fishy business.

HOW DOES THE SCAM WORK

New types of investment scams come about literally every day. However, most of the new schemes represent a modification of common fraud. These are not typical for the local markets but very similar from country to country.

Nowadays, scammers search for victims on the Internet and social media. Classical tactics, such as cold calling, became less widespread as the Internet got prevalent. The offers scammers make look legit and present exciting opportunities to invest money in the Forex market. Traders got reassured that the people behind the broker have an excellent track record, and they promise high returns, seamless trading and guaranteed profits. The scammers deliberately make people believe that the Forex market isn’t a risky place, but actually, the opposite is true.

What usually happens is that scammers just pocket traders and investors money. Sooner or later, clients would ask for a withdrawal, but scammers would delay or straightforward refuse to send any money back. Whenever traders persist, the guys standing behind the fraudulent broker would usually cut the communication or even ask for additional deposits. Either way, traders are likely to lose some or all of the capital invested. The end is always the same. When fraud becomes evident, the scammers would simply rebrand and start afresh, creating a new scheme under a different name.

WHAT TO DO WHEN SCAMMED

Unfortunately, no one is immune to scam. If you get scammed, the first thing you need to do is to protect yourself from further risk. Deactivate your card immediately, contact your bank and ask for advice.

Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing, call the police if you feel necessary. Seek help actively!

Remember, it’s crucial not to rush blindly trying to recover your funds because many scam chargeback agencies and individuals are trying to double scam the victims. They ask for upfront payment, take the money, but won’t do anything to help you!

Share online your experience; it’s important to protect others, as well. Be responsible!

Rich Snippet Data
Review Date
Reviewed Broker
NFX.ae
Broker Rating
11stargraygraygraygray

Top Forex Brokers

BrokerCountryRatingMin. DepositWebsite
US5/5$50 Click for a special offerWebsite
USA5/5$250 Click for a special offerWebsite
UK, Cyprus, Belize4.94/5$5 Click for a special offerWebsite
Australia, Cyprus4.93/5$100 Click for a special offerWebsite
UK, Australia4.85/5$50 Click for a special offerWebsite
Cyprus, SVG4.8/5$100 Click for a special offerWebsite

Leave a Reply

Your email address will not be published. Required fields are marked *