Heard of Nyxbroker.com trading platform? Really want to find more details before choosing the broker? You can carefully read the NYX Broker reviews to know about this forex broker whether to use or not.
This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is NYX Broker?
NYX Broker otherwise known as Nyxbroker.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.
What is more, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
Does NYX Broker Have Account Types?
NYX Broker offers different account types for traders such as Cent, PRO NYX, ECN, Custom, PRO VIP and ECN VIP. The trading parameters in their descriptions show NYX Broker requires a minimum deposit of just 5 USD for a Cent Account and maximum leverage of 1:500.
What We Found about Nyxbroker.com Regulation
First of all, NYX Broker provides an incomplete contact address in Istanbul, Turkey. But at the same time it warns that Turkey is one of the jurisdictions in which it does not offer its services.
What is more, the About section, we see images of a purported certificate from a private institution called CBS Certification Services. The certificate is in the name of another legal entity, NYX Markets Consultancy Limited Co.
In order to clear the doubt, we checked straight to the database of the Turkish regulator, Sermaye Piyasası Kurulu (SPK) and found nothing regarding the two companies and the trade name NYX Broker.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These drawbacks are for forex traders/ clients to avoid losing money with unlicensed scam brokers. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
NYX Broker Minimum Deposit
NYX Broker deposit is specified $5 based on the account type. While this rate may look attractive and cheap, doing it with an unlicensed broker is risky.
Just to put a comparison, legitimate brokers clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
As for the funding methods, NYX Broker showcases logos of many popular payment methods such as MasterCard, Skrill and Neteller. But the broker actually wants you to invest through the crypto method, which is untraceable.
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!
NYX Broker Software- How Safe Is The Platform?
Checking through the NYX Broker platform, the broker claims availability of the MT5. However, we tried to download links for the various versions of the software are not active.
NYX Broker also claims to offer a copy-trade service. For legitimate brokers, this allows less experienced or busy investors to take advantage of the savvy of active traders by automatically copying their trades. But scammers use copy trading as a front to convince their victims that their money is really being invested.
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.
NYX Broker leverage is capped 1:500. Frankly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Argument Against Trading With An Unlicensed and Unregulated Broker ( Nyxbroker.com)
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 Nyxbroker.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
NYX Broker located at Nyxbroker.com has appeared like a genuine trading platform. Unfortunately, you should not take the words they say. It is a non-regulated cryptocurrency broker offering financial services to clients. By all appearances, the advice to traders remains to steer clear from unlicensed forex broker as it 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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