Beware! NuclearFx is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
We are reviewing NuclearFx, a shady brokerage, which can’t actually deliver anything to traders. Except for the logo, which we consider an impressive piece of art. Leaving the funny remarks aside, NuclearFx is very likely a scammers’ creation. Find out why we claim so in the full NuclearFx review.
NuclearFx REGULATION AND SAFETY OF FUNDS
NuclearFx is introduced as Vanuatu regulated entity, but that’s falsehood. There is nothing about them in the register of the local financial authority VSFC, so NuclearFx is knowingly misleading people by pretending to be a regulated broker. That’s solid evidence of a scam, meaning your funds are not safe if you deposit with NuclearFx. Anyway, even if they possessed a Vanuatu license, it wouldn’t make them any safer.
Vanuatu is still considered a shady jurisdiction and a tax haven. In fact, they recently undertook some steps to improve financial regulations, but customer protection is still in its infancy because the only significant measure worth of attention is the 50 000 USD capital adequacy requirement. Well, that’s nothing compared to other jurisdictions such as the US, where companies need to provide 20 million USD in paid-up capital to get a license. So, we can’t recommend Vanuatu regulated broker.
Avoid NuclearFx and see the high-rated EU brokers and British brokers on the lists. We recommend those because the companies licensed in Europe are covered by deposit insurance funds laid down to protect customers further. As a result, CySEC brokers’ traders can claim up to 20 000 EUR in compensation, while the British guarantees are even up to 85 000 GBP per person. Europe offers high-grade security, so it’s safe to trade with EU and UK regulated FX companies.
NuclearFx TRADING SOFTWARE
NuclearFx claims to offer MetaTrader5, but that’s falsehood and even more evidence of a scam. It’s impossible to download the platform because the links are broken, and you can’t even register. We believe that they just take advantage of MetaTraders’ popularity to entice people into their fraudulent scheme, so make sure to stay away.
NuclearFx can’t deliver trading software, and you’d better see the high-rated MetaTrader4 brokers and MetaTrader5 brokers. MetaTrader is the leading retail Forex platform that seasoned traders highly acclaim for its stability and trustworthiness. It comes with sophisticated features such as Expert Advisors, Algo Trading, as well as many complex indicators and excellent charting tools. There is also a marketplace with more than 10 000 trading apps available, which you can use for your own benefit.
As a result, there are no real-time spreads or leverage we can discuss. Nevertheless, NuclearFx claims to offer Buy/Sell difference as low as 0.1 pips, but that’s a fraudulent piece of information and yet more evidence of a scam. The leverage is said to be as high as 1:400, but this isn’t true either. Anyway, we are going to quickly discuss leverage, for it’s a high-risk element in trading.
In fact, leverage is so risky that many financial authorities enforced regulations to restrict its usage. As a result, EU, British and Australian brokers are limited to 1:30 for FX majors, while the Canadian brokers and the US brokers can’t offer more than 1:50 for retail clients. Most of the high-leverage FX companies are poorly regulated, so be cautious.
NuclearFx DEPOSIT/WITHDRAW METHODS AND FEES
There is nothing about minimum deposit requirements. The funding methods are supposedly Credit/Debit cards and Wire Transfers, but we can’t validate this information. Anyway, the first option mentioned is considered safer because it’s allowed to get a refund within an extended period of time.
Also, do not miss to see the high-rated Skrill brokers, Neteller brokers, FasaPay brokers, Sofort brokers, and Bitcoin brokers if you have trusted payment systems. The brokers on top of the lists are strictly regulated, and you wouldn’t run into scammers.
There is no information about withdrawal requirements and fees in the NuclearFx’s documentation, but that doesn’t actually change anything. As you already know, they do not even have a platform, so it’s impossible to execute trades, generate profits and then withdraw.
The only piece of useful information in the T&Cs is considering inactivity fees. According to the clause, after 12 months of inactivity, an account becomes dormant and will be charged $25 annually.
There are no trading incentives available, such as bonuses, promotions or other contests.
Overall, NuclearFx is a shady brokerage with no platform, which is an argument enough to avoid it.
HOW DOES THE SCAM WORK
Internet is plagued by scammers’ fraudulent ads and deceitful social media profiles, promising get-rich-quick schemes, and it’s tempting to at least have a look.
If you click on and provide your e-mail and contact numbers, they’d ring you at once. You’ll be offered bonuses, managed accounts, risk-free deals, guaranteed profits and so on. Most scammers are seasoned manipulators, and while trying to strike a deal, they would inevitably ask for your bank card details so that you can start investing straight away. However, their actions would indicate urgency, and that’s a treacherous sign and evidence of a scam. So if someone pushes you over the phone to start trading ASAP, then it’s most probably a scam.
Nevertheless, the first deposit is just the beginning. Gradually they’d ask for more money from you no matter what. If you lost on the market, they’d persuade you to put more money and recover the losses. If you traded well, they’d convince you to put more money and increase the profits. The troubles start when you ask for a withdrawal. The scammers would do anything to discourage you and would even ask you to deposit even more funds if you want to withdraw. The scammers’ mantra is “give me your money”, they’d demand from you to fund your account over and over again for no obvious reason. Reputable companies wouldn’t push you to make deposits, so if you feel pressurised, that’s apparently a scam.
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!