NPBFX is a distressed trading platform in that the platform doesn’t allow withdrawals. Clients have been complaining about this issue for the past few weeks. And nothing was done about it by the platform; still, NPB FX claims this is a non-issue. Those who have signed up with npbfx.com now face the daunting task of trying to recover funds. We feel for them and must raise the red flag. Here’s what you need to know in our thrilling NPBFX REVIEW.
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The platform claims to have helped traders way since 1996. With such a long history, you would expect the platform to have some recognition. The industry, however, hasn’t heard of the broker or the services offered.
NPBFX claims to be a trading name of NMarkets Limited. Whether this is true or not remains a mystery. However, we have seen platforms that use a registered company’s name as their own to try and fool investors.
There are no documents to prove any alliance or partnership with the said company. And that’s one of the first red flags we spotted with the platform. The website design also has a lot of flaws, including navigational issues.
You will take time to review the clatter of information on the platform. And that’s just the tip of the iceberg. The platform tries its best to try and hide relevant information from traders. It wants you to sign up without asking a lot of questions.
When it comes to trading, you must take a lot of time and effort to mitigate risks. Therefore, before starting the process, you need to know what the platform offers. Unfortunately, NPB FX fails to provide ample information on the trading services offered.
Before you engage with any trading platform, experts recommend doing due diligence. First, try and find out what makes the platform tick. That’s the only way to guarantee your safety after learning the truth about npbfx.com.
As a trader, you must weigh any platform's pros and cons. That’s one of the fast ways of knowing what you’re getting into. Naïve traders or beginners will instantly sign up without looking behind the curtain.
And this leads to their downfall as some of these platforms are only interested in your deposits. Once you deposit, you get a dummy trading platform that allows you to trade. The problems will start piling up when you want to withdraw for the first time.
It’s what is happening at npbfx.com. None of the members we’ve talked to have withdrawn for the past few weeks. And that means you are in deep trouble. The platform could be an exit scam waiting to pounce on investors.
Here’s what we found out in our thrilling npbfx.com review;
NPBFX offers three account types, Master, Expert, and VIP accounts. All these accounts enjoy an excellent trading platform, the MT4 trading terminal. That’s probably one of the only good things about the platform.
Here’s a closer look at each of these accounts and what they bring to the table;
Master
For the Master account, spreads start from 0.8 pips. The minimum amount you can deposit to start trading with this platform is $10. Leverage for this account is a whopping 1:1000. You miss out on the 24/5 customer support available on the platform.
Expert
Spreads start from 0.6 pips, and it’s the only account with all available features. Leverage starts from 1:200, a tide higher than the maximum acceptable leverage. You get instant and market types of execution with the account.
VIP
Slated for institutions, the account comes with a minimum acceptable deposit of $50,000. Leverage stands at 1:200 with spreads of 0.4 and an average of 0.8 pips. The stop-out level on all accounts is at 30 percent.
From the word go, we can tell that most of the account features don’t make sense. For one, the accounts don’t cater to the newbies. It seems the platform is only keen on having traders with a ton of experience.
We must mention the ridiculously high leverage offered on these trading assets. The industry regulators have put a cap on leverage at 1:100. We don’t understand why such a platform would break this cardinal rule.
In the United States, retail traders enjoy maximum leverage of 1:50. Another feature worth noting is that the platform doesn’t enjoy having any support. Even a client who deposits $50,000 doesn’t get 24/5 support.
There are no trading instruments available for the weekend. Today’s trader wants to take advantage of some of the markets. An excellent example would be cryptocurrency, where the markets don’t sleep.
To try and get more users into the fray, the platform offers investors a chance to become affiliates. The platform even prepares an offer of $900 per deposit on CPA. That sounds like a perfect way to earn passive income.
Before you rush to become their partner, you need to learn the truth. The platform is only looking to take advantage of your connections. Once you do so, the platform will likely fail to deliver its promise.
Once this happens, you will be in a hot mess. Those you direct to the platform will face the same withdrawal problem. These victims will blame you for directing them to a platform that doesn’t make any profit.
As an affiliate, you need to keep your reputation intact. Try and find out from the affiliate community about the platform. You have to protect those you direct to such risky investment options.
There’s no way funds are safe with a platform that fails to segregate accounts. The platform doesn’t deposit the required amount to start a trading platform with regulators. Platforms must do so as a sign of good faith and protect the public.
That means your deposits won’t enjoy the much-needed protection such as insurance cover. The platform also fails to offer DDoS protection or SSL encryption. That’s why we believe the platform is out to get everyone who signs up.
Despite claiming to be a member of the Financial Commission. That’s not the case. The platform fails to mention the parties behind this platform. You would expect a transparent platform to offer the names of the CEO or founding members.
It makes NPBFX an anonymous trading platform. There’s no way of recovering funds from anonymous platforms. That’s why we suggest you stay away from the platform or risk losing your entire deposit.
NPBFX does not comply with trading regulations; the conditions are unacceptable. No regulator would stand for a platform with minimum leverage of 1:200. Despite their attempts to fool us with a certificate, it goes to show the extent of the scam.
After reviewing the accounts and their offer, we recommend staying away from the platform.
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