Caution Investors NEXUS TRADE Regarding fraudulent or manipulative practices (insider dealing, market manipulation, misrepresentation of material information, etc.)
Overview:
NEXUS TRADE is the trading name of Nexus Trade Ltd, a company that claims to be registered in St. Vincent and the Grenadines. The broker offers forex, CFDs, commodities, indices, stocks, and cryptocurrencies on its web-based platform. It also claims to provide educational resources, market analysis, and customer support. However, NEXUS TRADE is not regulated by any reputable authority and has been blacklisted by the FCA, the UK’s financial watchdog. This means that the broker is operating illegally and may be involved in fraudulent activities.
Regulation and Compliance:
Regulation is one of the most important factors to consider when choosing a broker. A regulated broker must comply with strict rules and standards that protect the interests and funds of its clients. A regulated broker also has to submit regular reports and audits to its regulator and participate in a compensation scheme that covers its clients in case of insolvency. NEXUS TRADE, on the other hand, is not regulated by any authority and does not have any license to offer financial services. The broker is based in St. Vincent and the Grenadines, a notorious offshore jurisdiction that does not have any effective regulation or supervision of its financial sector. Moreover, the FCA has warned the public that NEXUS TRADE is targeting UK investors without authorization and may be running a scam.
Customer Reviews:
Customer reviews are another way to assess the reputation and reliability of a broker. A good broker should have positive feedback from its clients and address any complaints or issues promptly and professionally. NEXUS TRADE, however, has very negative reviews from its customers who accuse it of being a scam. Many customers report that they have been unable to withdraw their money from the broker and that they have been pressured to deposit more funds or pay fees. Some customers also claim that they have been lied to or manipulated by the broker’s representatives who use fake names and credentials.
Products and Services:
A good broker should offer a wide range of trading products and services that suit the needs and preferences of different traders. A good broker should also provide a user-friendly and secure trading platform, competitive spreads and commissions, fast execution, and various payment methods. NEXUS TRADE claims to offer all these features, but in reality, it fails to deliver on its promises. The broker’s web-based platform is poorly designed and lacks essential tools and functions. The broker’s spreads and commissions are very high and inconsistent. The broker’s execution is slow and prone to slippage and requotes. The broker’s payment methods are limited and unregulated.
Location:
The location of a broker can indicate its level of regulation and credibility. A good broker should be based in a reputable jurisdiction that has a strong regulatory framework and oversight of its financial sector. A good broker should also have a physical address and contact details that can be verified by its clients. NEXUS TRADE is based in St. Vincent and the Grenadines, a high-risk country that does not regulate or monitor its financial sector. The broker does not have a physical address or phone number, only an email address that may not be responsive or reliable.
Customer Service:
Customer service is another important aspect of a broker’s performance. A good broker should provide professional, courteous, and helpful customer support to its clients via various channels such as phone, email, live chat, or social media. A good broker should also respond to customer inquiries and requests promptly and effectively. NEXUS TRADE claims to offer 24/7 customer service via email, live chat, and phone. However, many customers complain that the broker’s customer service is rude, unprofessional, and unhelpful. Many customers also report that they have been ignored or blocked by the broker’s customer service after requesting withdrawals or refunds.
Is Your Money Safe in an unregulated company?
The answer is no. Your money is not safe in an unregulated company like NEXUS TRADE. An unregulated company does not have any obligation or accountability to protect your funds or interests. An unregulated company can manipulate its prices, terms, and conditions at any time without your consent or knowledge. An unregulated company can also disappear with your money without any trace or recourse.
Defensive Measures Against Fraudulent Brokers:
If you have been scammed by a fraudulent broker like NEXUS TRADE, you should take some defensive measures to try to recover your money or prevent further losses. Some of these measures are:
– Report the broker to your local authorities and regulators.
– Contact your bank or payment provider and request a chargeback or dispute.
– Seek legal advice from a reputable lawyer or firm.
– Warn other traders about the broker and share your experience on online forums and review sites.
Conclusion:
NEXUS TRADE is a scam broker that you should avoid at all costs. The broker is not regulated by any authority and has been blacklisted by the FCA. The broker has very negative reviews from its customers who accuse it of being a fraud. The broker offers poor and misleading products and services that are not worth your time or money. The broker does not have any security or transparency for your funds or information. The broker may steal your money and refuse to give it back. Do not trust NEXUS TRADE with your hard-earned money.
