Our NewFX Trading Review Is Here to Show You the Scam

NewFX Trading is not a good broker to invest with. Plenty of bad reviews and public warnings are proof of that and our NewFX Trading Review gives you all you need to know in one place.

We will analyze the shady dealings of this broker to show you the real truth. Without further ado, let’s start.

NewFX Trading Regulation and Fund Security

NewFX Trading claims to be a US-based brokerage owned by NewFX Finance LLC. This means we should have no problems confirming their legitimacy since we can check the US National Futures Association (NFA), but we found nothing.

NewFX Trading also operates in Europe, but we can confidently say they are doing so without a proper license. This broker’s trading conditions far exceed the legal maximum for a Europe-based brokerage and that’s why there is no doubt NewFX Trading is unregulated!

Furthermore, some of the world’s top regulatory bodies issued public warnings about this scammer. Those include:

• CONSOB
• CNMV
• MFSA
• FI
• FSMA

All the above should be enough for you to avoid this broker as your money is never safe with them.

Trading Software Overview

You can choose between two trading platforms at NewFX Trading: MT4 and WebTrader.

MetaTrader 4 is a household name in the trading world and has been since 2005. It’s multifunctional, easy to use, and offers numerous tools that can help both new and seasoned traders. You can download it for PC, Android, and iOS systems.

The other platform is a simple WebTrader developed by NewFX Trading. It is far inferior to MT4 and more alarming for clients, manipulated by the broker.

Since they have total access to their platform, they can show you misleading information and steal your money in the process.

However, we are not saying you will be safe if you choose MT4 instead of the other platform. Remember, this broker has no license, so it doesn’t matter which platform they offer, your money is always at risk.

Bonuses and Promotions

As far as generosity goes, this broker is quite the good Samaritan. They offer significant bonuses, risk-free investments, and other promotions like a free eBook for a first-time deposit.

If you invest $500 you will get up to a 50% bonus and it only rises from there. A $1,000 deposit will get you up to a 70% bonus and with a hefty $5,000 investment you can supposedly count on a 100% bonus.

This broker also offers 5 risk-free investments with every new account and says all profits go to you. But since we know they are scammers, this no-strings-attached claim should not be trusted.

Account Types Available

NewFX Trading gives you a choice between seven different accounts:

• Basic – $200 – $1,999
• Discovery – $2,000 – $4,999
• Silver – $5,000 – $9,999
• Gold – $10,000 – $14,999
• Premium – $15,000 – $29,999
• VIP – $30,000 – $49,999
• VIP+ – $50,000+

Surprisingly, the accounts don’t differ from each other in many features. The biggest difference is in the price and rollover discounts, while everything else is mostly the same.

Deposits and Withdrawals Procedure

Payment methods available at this broker include credit card and bank transfers, Skrill, Neteller and other money transfer platforms. The credit cards they accept are Visa and MasterCard and they also accept deposits in Bitcoin.

When you want to withdraw your funds, you are limited to only Bitcoin, credit card and bank transfers. The broker claims they don’t charge you for withdrawals for credit cards, but take that with reserve.

How Is Fraud Carried Out?

NewFX Trading usually targets its victims through social media, mostly Facebook, Twitter, and YouTube. Also, since they didn’t hide their email and phone number, we can assume they contact people in that way as well.

If you see positive reviews on their website, do not trust those either. Scammers like NewFX Trading have marketing campaigns where they leave false comments and testimonials to make their business more trustworthy.

NewFX Trading Summary

After reading our Review we hope you changed your mind about investing with them. They are shady brokers who make their money by stealing yours.

But always keep in mind that there are legitimate brokers out there you can trust. And if you need help finding the perfect one for you, you can consult with us, totally free of charge!

FAQs About NewFX Trading Broker