Investigating or researching brokers is one of the most important steps to protect your money from scammers. That is why we have written the NewFX Review after long research and found the broker to be a potential scam.
Many signs make this broker a scammer. Read this NewFX review to uncover everything to make yourself aware of this scam broker. We suggest you look at our routinely refreshed list of scam brokers 2022 to guarantee your money will not go into the hands of a scammer.
Broker Website – newfx.co, newfx.us
Address – 33 Cavendish Square, Marylebone, London W1G 0PW, United Kingdom & 27th and 28th Floors, 1325 6th Ave, New York, NY 10019, United States & Trade CentreTrade Centre 2 – Dubai – United Arab Emirates
Warned By – Comisión Nacional del Mercado de Valores (Spain), Commissione Nazionale per le Società e la Borsa (Italy)
NewFX review: Introduction
NewFX is a brand of New Finance LLC. NewFX has three addresses, namely 33 Cavendish Square, Marylebone, London W1G 0PW, U. K.; 1000 NW Street, Mid-Town Brandy Wine, Ste 1200, Wilmington, DE 19801 Delaware, USA; and Trade Centre 2, Dubai, UAE. The platform is registered in the U.K. They can be contacted on phones +44 77 2387 6639, +44 20 8157 0192, and +357 2209 0674 or through email cs@newfx.co. They have a live chat too. To find out more about brokers, read our NewFX review.
NewFX review: Introduction
The broker has two websites, http://www.newfx.trading/ and https://www.newfx.us.
The broker claims it is dependable and transparent. They have a worldwide presence and have nearly 10 years of experience. They claim to have a secure trading platform and well-trained, experienced, and efficient staff. They claim to have segregated accounts and maintain accounts with reputed international banks. Furthermore, they use SSL encryption technology.
They claim to have reliable customer support in more than 10 regional languages. They are available 24 x 5 to help people with problems and queries.
NewFX review: Regulations
Nowhere on the website, has the broker displayed any documents to prove that it is licensed and has regulatory authority to conduct financial services. The certificate page on the website does not open.
NewFX review: Account Types
Account types offered by NewFX are Basic (minimum deposit from $200 to $1,999), Discovery (minimum deposit from $2,000 to $4,999), Silver (minimum deposit from $5,000 to $9,999), Gold (minimum deposit from $10,000 to $14,999), Premium (minimum deposit from $15,000 to $29,999), VIP (minimum deposit from $30,000 to $49,999), and VIP+ (minimum deposit of $50,000+).
NewFX review: Deposits
The broker accepts deposits through Visa, Mastercard, e-wire transfer, Bitcoin, Bpay, Poli, Skrill, Neteller, Fasapay, and China UnionPay. No cash payments are allowed. Currencies accepted are USD, GBP, Euro, and JPY. NewFX offers a 100% bonus on your deposits.
NewFX review: Trading Platform
The trading software/platform offered is MetaTrader4. It has technical indicators, 9 different time frames, one-click trading, and full support for EAs. It is a multi-asset support system with a customizable layout. The platform offers powerful analytical tools with graphical objects.
The broker claims to have a web platform (Sirix) where no download is necessary. NewFX Web, the broker-built software, has seamless social trading along with advanced charting tools and a user-friendly interface.
NewFX review: Assets
NewFX offers access to over 500 tradable instruments. Asset classes are forex (73), commodities (29), stocks (367), indices (26), and cryptocurrencies (2).
Why not deal with NewFX?
- The regulatory status is suspicious.
- Warnings from regulatory authorities of various countries like CONSOB (Italy), CNMV (Spain), FSMA (Belgium), and MFSA (Malta).
- No free demo account to test the waters.
- Negative reviews from investors and traders like stealing funds, unprofessional behaviour, and disappearing.
- Old domain exposed as a scam.
- No link to download MetaTrader4.
Scammed by NewFX?
Lost money to NewFX? Did the fake broker scam you? The good news is that there is help available. Believe us; you can get your lost funds back. File a complaint with us today or book a free consultation with us on our website Fraud Reports Online. We have a dedicated team for fund recovery and also have partnered with the best fund recovery companies worldwide. We have a transparent investigation process.
Remember trading scam brokers like Star Trader, MEXC Global, Novobrokers, Capital Options, Main Bit, 360 Trade Hub, and many more. Read hundreds of reviews on our site before investing.
We also recover funds from cryptocurrency trading scams, student loan scams, beauty product scams, telegram token crypto scams, etc. We provide international fund recovery services.
No matter what the amount is, fight for your money. The earlier the action is taken, the better the chances of full fund recovery.
Also, if you are a victim of a forex scam, binary scam, cryptocurrency scam, romance scam, tax scam, pension scam, or any other scam, file a complaint against NewFX and tell us your case. Let us help you in fund recovery!
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