NTB Financial Market Review- 5 things you should know about ntbfinancialmarket.com

NTB Financial Market Review- 5 things you should know about ntbfinancialmarket.com

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Beware! NTB Financial Market is an offshore broker! Your investment may be at risk.

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NTB Financial Market is one of those scam brokers who use other company’s license numbers in the hope that nobody these days can use a computer and check the registers of financial authorities. Additionally, this broker’s offer is quite poor – we learned nothing about their trading conditions and were not able to try out some sort of trading software – the only thing we were promised was absurdly high withdrawal fees. This broker is not legitimate and you should not invest with them under any circumstance – you will only get robbed.

NTB Financial Market REGULATION AND SAFETY OF FUNDS

NTB Financial Market is insolent enough to claim it has been regulated both by the reputable CySEC and by the Vanuatu Financial Services Commission. The broker was, however, nowhere to be found in the VFSC register. A company with the license number provided for CySEC does exist – but it is not this one. The CySEC-licensed broker has a different company name, domains and address.

CySEC has even issued a warning on 13th January 2022 on a few scam brokers trying to pass as regulated – NTB Financial Market is among them.

NTB Financial Market is supposedly based in the US – ridiculous considering the fact that all US brokers have to be regulated by the most merciless financial authorities in the world – the NFA and the CFTC. With such proven scammers, we cannot be sure of any information they provide us with – not even the address.

If you want to trade someone who can promise you a level of security and transparency, CySEC-licensed brokers are generally a great choice. Such brokers can offer you everything scammers like NTB Financial Market just claim to offer – like segregated accounts for client money and compensations in case they go bankrupt. Clients of EU brokers could receive a compensation of up to €20 000 if their broker becomes insolvent because all European brokers participate in compensation schemes. Additionally, EU-licensed companies have to maintain a minimum capital of €730 000 to prove that bankruptcy is not a likely event. Trading with someone regulated by a respected financial authority is the only way to be sure you will be treated fairly and in accordance with all laws.

NTB Financial Market TRADING SOFTWARE

Before we registered an account, the broker asked us to choose between an account one MetaTrader 4  or one on MetaTrader 5. However, NTB Financial Market did not provide a link for either of the platforms. When we logged in to the client area, we soon found out that we were not able to access anything without our account being verified first – which would take at least 24 hours. This means we cannot confirm that NTB Financial Market actually offers any version of the MT software.

Both MT4 and MT5 are worth a try – with a licensed broker, of course. So far, no other platform has managed to surpass them in terms of functionality and variety of features offered. You can  access the software’s Expert Advisors that track the markets and trade in accordance with an algorithm, develop your own trading bots and indicators, purchase VPSs to keep your trading bots operating even when your computer is off, and set signals for prices going above or below a certain level.

NTB Financial Market TRADING CONDITIONS

NTB Financial Market did not give us any information about the trading conditions they offer. Nothing was mentioned on minimum deposit amounts, leverage or spreads and without access to a client area or a platform we could not see for ourselves what the broker had in store for clients. We were not even presented with Terms and Conditions – a huge red flag. You would probably only find out about multiple clauses preventing you from withdrawing and about additional fees much later, after the broker has managed to rob you thoroughly.

Don’t waste time on proven scammers like NTB Financial Market because it will cost you dearly. There are enough licensed brokers that only ask for a tiny amount of money to open an account so get acquainted with them instead. All of these completely reliable brokers can offer you conditions that are more than great – the average spreads for the industry rarely exceed 1.5 pips but many top brokers would be able to present you with something under 1 pip.

If you are working with a UK and EU-regulated broke and are not a professional client, you would only be able to trade with leverage of up to 1:30 on forex majors. High leverage can turn out to be quite risky for inexperienced traders and that is why many jurisdictions around the world have imposed restrictions on it. Such, however, don’t yet exist in Australia and Canada as well as for offshore brokers – so it is still completely possible to trade with high leverage with a reliable broker.

NTB Financial Market DEPOSIT/WITHDRAWAL METHODS AND FEES

The deposit and withdrawal methods supposedly available with NTB Financial Market were bank transfer and Sofort as well as online payment systems like Skrill and Safecharge. Without an account, however, we cannot actually confirm that all of these deposit methods are available.

The broker mentioned some sort of withdrawal fee which was outrageously high – over 13% of every withdrawal transaction. No legitimate broker would ask you for so much money just to let you withdraw.

HOW DOES THE SCAM WORK?

The weird thing is that such scams are never very imaginative but they seem to trick a lot of people – you see an ad on the Internet for a broker’s website and decide to check their website out. Then you start thinking to yourself “Man, that actually sounds great, I should maybe register an account to find out what they have to offer.”

Once the scammers have received your contact details, they won’t leave you alone before you deposit – and with time, they will start asking for bigger and bigger sums. You will probably see that you have turned unbelievable profit in no time so you will keep transferring money – just know that it is fairly easy for platforms to be manipulated. At some point of course, you would want to withdraw and this is where it gets complicated. All sorts of clauses in the Terms and Conditions and additional fees will show up – the scammers will try to delay your withdrawal and milk you as much as possible. By the time you figure out something is wrong, your “broker” will be long gone – with your money.

WHAT TO DO IF SCAMMED?

Be prepared that happy endings are not very likely and the chances of you seeing your money again are not big. That is why prevention is key – you should always read Terms and Conditions carefully and make sure that your broker is legitimate by checking if they are actually licensed.

If you got scammed, there are still things you could do. Notify the authorities in your country and share your story with as many people as possible – this way, they would know to avoid such types of scams. Change all passwords that you gave the scammers access to. If you have deposited with a credit or debit card, ask your card provider for assistance – you could get a chargeback within 540 days with both Visa and MasterCard. Bank transfers are a bit harder to reverse but that is still not impossible.

Finally, don’t trust anyone trying to pass as a recovery agent and offering to retrieve your money for a small fee – this is just another type of scam, usually conducted by the same people that robbed you in the first place.

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