NordEquity review – 5 things you should know about nordequity.com

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

RECOMMENDED FOREX BROKERS

Visit Site

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

NordEquity is a suspicious offshore broker focused on Latin American clients. NordEquity’s website lacks important information regarding trading conditions and is almost identical to many fake brokers we have encountered. In this review, we’ll show you why it wouldn’t be a good idea to trust your money to NordEquity and point you in the direction of more trustworthy financial service providers.

NordEquity Regulation and safety of funds

The first thing to look for in a forex broker’s website is which legal entity runs it, where it is based and what regulatory oversight it is subject to. Licensed companies are also required to provide a comprehensive set of legal documentation.

When registering for an account with NordEquity, you are required to agree to the Terms and Conditions, but there is no link to this document. If you do not know what terms you are agreeing to, it is not wise to put your money on the line.

According to the information on the homepage of the website, a company called Sinvara LLC, which is based in the Marshall Islands, is behind NordEquity. This offshore zone is a convenient base for financial fraudsters because there is no financial regulator and incorporation of companies can be done entirely online.

This company is also known to be owned by another shady broker we have reviewed, Central-Broker.

NordEquity provides contact numbers in South American countries and Mexico. The website is available in Spanish and Portuguese.

The Spanish financial regulator CNMV has issued a warning to investors that NordEquity is not authorised to provide financial services in the country.

If you have decided to invest in financial instruments, and especially if you are a novice trader, you should use the services of a licensed broker based in a jurisdiction with strong regulations.

You should only trust legitimate brokers operating in one of the established financial centres like the UK, EU, USA or Australia. There, the activities of brokers are controlled by powerful regulatory bodies such as UK’s Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Commodity Futures Trading Commission (CFTC) in US or Australian Securities and Investments Commission (ASIC). Clients of these brokers receive protections such as negative balance protection and segregation of the client’s funds from the broker’s funds.

In the EU and the UK, brokers must also participate in guarantee schemes that cover a certain amount of the trader’s investment if the broker becomes insolvent. These guarantees amount to up to 20 000 EUR in the EU and 85 000 GBP in the UK.

NordEquity Trading software

NordEquity implements a web-based trading platform. Here is how it looks like:

While this platform has the basic functionality to place orders, it cannot compare to the capabilities provided by MetaTrader 4 (MT4) and MetaTrader 5 (MT5). It should be noted that the presence of a trading platform does not make this website any more legitimate and does not guarantee that this alleged broker offers real trading. Many scammers use rigged trading software to fool their victims that their money is being invested.

NordEquity Trading instruments

In theory, NordEquity facilitates trading in currency pairs, commodities and cryptocurrencies. But in practice we have no guarantee that the trading offered by this unregulated website is real. Moreover, we have no clear idea of the terms and conditions.

NordEquity Spreads and cost of trading

In the trading platform, we see a spread of 3 pips, which is double the industry average. NordEquity does not provide information on trading conditions, so it may be charging additional commissions.

NordEquity Maximum leverage

A leverage of 1:200 is set in the NordEquity trading software. This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, but also increases the risk of sudden and excessive losses proportionally. All leading regulators limit leverage for retail traders.

Regulated brokers offer higher leverage only to professional clients who must meet very high standards for capital and experience and forgo the guarantees enjoyed by retail traders.

If you don’t qualify as a professional trader but are willing to take the risk of high-leverage trading, the most viable option is to use the services of an offshore affiliate of an established brand.

NordEquity Deposit and withdrawal methods

NordEquity claims to allow deposits and withdrawals via multiple payment methods, but the deposit menu has only one option – the obscure payment processor BridgePay.

Legitimate brokers typically offer clients a wide choice of transparent payment methods, including bank transfer, credit/debit cards and established e-wallets such as PayPal, Skrill or Neteller.

NordEquity Minimum deposit

NordEquity requires a minimum deposit of 300 USD. For a considerably lower amount you could open a trading account with a licensed and reputable broker.

NordEquity Withdrawal requirements

The lack of a publicly available Terms and Conditions or Client Agreement means that scammers may have set many traps such as hidden fees and impossible-to-meet withdrawal terms.