Looking to read NeoProFx reviews, you are in the right place. Is NeoProFx.com a scam or legit broker? Read reviews to know about this forex broker.
This article promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
Table of Contents
NeoProFx otherwise known as NeoProFx.com is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients.
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices.
What We Discovered about NeoProFx.com Regulation
First of, NeoProFx broker claimed to be based in the UK. The problem is that all such brokers have to be licensed by the local financial regulatory body, FCA. However, a quick check of the regulators register shows that they definitely are not.
As far as we’re concerned, this is the one of the most ambiguous yet common remarks made by scammer entities, helping them become as vague as possible but yet retaining the illusion of being legit.
Furthermore, this broker does not offer money back guarantee which means trading on such platform is clearly putting your funds at a risk of scam.
These drawbacks are for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
NeoProFx Minimum Deposit for Traders
The broker NeoProFx offers $100 minimum deposit for Basic account. This may appear a good start if only the broker is legitimate.
In contrast, licensed FX brokers clearly spell out their regulations and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
NeoProFx promised that we would be able to transfer money in a variety of ways – with Bitcoin, Ethereum, Litecoin, Ripple, via Neteller, Perfect Money, Payeer, Skrill, Advcash, Bank Wire and with a Credit/Debit Card. However, that is not the case. The broker would not allow us to make a deposit ourselves.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
NeoProFx Provides What Trading Software?
NeoProFx promised access industry trading software, MetaTrader 5. Regrettably, this broker only allowed us to download the generic version of MT5 – the one you could download for free from the website of the software’s creators, MetaQuotes.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Frankly, we say don’t consider doing that with an illegitimate forex broker like this one because you stand the chance of losing your money.
NeoProFx Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that NeoProFx.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
NeoProFx located at NeoProFx.com appears like a trustworthy trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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