Nuxtrade is a forex and CFD broker that claims to offer a variety of trading features and services. However, there are a number of red flags that suggest that Nuxtrade is a scam.
Company Overview
Nuxtrade is a relatively new broker, having been founded in 2021. The company is registered in St. Vincent and the Grenadines, a well-known offshore tax haven. Nuxtrade does not have any licenses or regulations from any reputable financial authorities.
Does Nuxtrade Have Any License?
No, Nuxtrade does not have any licenses or regulations from any reputable financial authorities. This is a major red flag, as it means that Nuxtrade is not subject to any oversight or regulation. This makes it more likely that Nuxtrade will engage in fraudulent or unethical practices.
Is Nuxtrade Regulated By Any Authority?
No, Nuxtrade is not regulated by any authority. This is another major red flag, as it means that there is no one to protect investors from fraud or abuse.
Also, FCA issued a warning against this broker.
Pros and Cons
Pros:
- The trading platform is user-friendly.
- There are a variety of trading instruments available.
Cons:
- Nuxtrade is not regulated by any reputable financial authority.
- There have been complaints of customer service issues.
- The spreads and commissions are high.
How Does Nuxtrade Reach To Their Prey?
Nuxtrade uses a variety of methods to reach its prey. They often advertise on social media and other online platforms. They also use cold calling and email marketing. Nuxtrade’s marketing materials are often misleading and deceptive. They make promises of easy profits and guaranteed returns.
Technical Details
Minimum Deposit:
The minimum deposit to open an account with Nuxtrade is $250.
Trading Platform:
Nuxtrade offer a web-based trading platform. The platform is user-friendly and easy to use. However, it does not offer the same features and functionality as some of the leading trading platforms.
Spread:
The spreads on Nuxtrade are high. This means that traders will pay more for each trade they make.
Leverages:
This compnay offers high leverage. This means that traders can control a large position with a small amount of capital. However, high leverages can also magnify losses.
Packages and Products They Offer
They offer a variety of trading packages. The packages vary in terms of the minimum deposit, trading instruments, and leverages offered.
Withdrawal and Deposit Method
Nuxtrade offers a variety of withdrawal and deposit methods. The methods available vary depending on the country of residence.
What Do Their Previous Traders Say?
There are a number of negative reviews about Nuxtrade online. Many traders have complained of difficulty withdrawing funds, high fees, and poor customer service.
Summing Up- Why Should Not You Trust Nuxtrade
There are a number of reasons why you should not trust Nuxtrade. The company is not regulated by any reputable financial authority. There have been complaints of customer service issues. The spreads and commissions are high. And there are a number of negative reviews about Nuxtrade online.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money with Nuxtrade, you may be able to recover your funds. There are a number of recovery companies that specialize in helping victims of investment fraud. You can also contact your local financial regulator for assistance.
If you have lost money with Nuxtrade, please contact us for a free consultation. We can help you assess your options and recommend a recovery service that is right for you.
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Final Thoughts
Nuxtrade is a scam broker that should be avoided. If you are considering trading with Nuxtrade, we urge you to reconsider. There are many legitimate brokers out there that offer better trading conditions and customer service.
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