Table of Content
NFTvisionFX Review – Truth About NFTvisionFx.Com Broker
Table of Content
NFTvisionFX attempts to deceive potential clients by faking licenses and claiming to be a Cyprus based, completely legal brokerage company. This misinformation is shown in the fact that the broker lists FCA, CySEC and CONSOB as regulators who have issued licenses for NFTvisionFX.
If this phony had any intention of attracting the attention of new investors, they should have put more effort in setting up better-looking trading conditions. Illegal leverage of 1:400 and costly trades thanks to spreads from 3 pips will not motivate traders to invest here.
Attop of all, the NFTvisionFX site seems to be down. We may as well conclude this broker has already run off with their clients’ funds.
|Leverage||Up to 1:400|
|Minimum Deposit||250 $|
|Broker Type||Web based|
|Spread||From 3 pips|
To make the entire matter clear, stay with us and find out all you need to know from our NFTvisionFX review.
Regulation and Safety of Funds at NFTvisionFX
The first detail about NFTvisionFX that got our undivided attention is their claim of being regulated by several regulatory bodies – FCA, CONSOB, and CySEC. It is no easy deal getting licensed by the mentioned authorities.
Some notable standards that have to be implemented by the brokerage business are the safety of funds, methods of risk reduction, and against money laundering. Even after being regulated, the organization’s brokerage operations are constantly being monitored by the respective authority. In case of unauthorized activity, legal actions are taken. Therefore, regulated brokers do not have it easy, especially when licensed by top-tier regulators like FCA.
Unfortunately, but predictably enough, NFTvisionFX only fakes being licensed. You can make sure by just taking a look at the regulators’ records of licensed firms. NFTvisionFX is not placed in databases of the licensing authorities they lie about.
In addition to that disturbing lie we confirmed, it turns out that the licensing numbers that NFTvisionFX published on their site actually belong to Exclusive Capital. Our broker has nothing to do with the legitimate business that Exclusive Capital runs.
One lie after another and the fact check we did has convinced us that NFTvisionFX is not regulated in any way and should not be considered trustworthy and honorable.
Trading Platform Overview
The software is accessible at NFTvisionFX is only a web trader, without download links for other devices and platforms. The web-based terminal isn’t exactly devoid of any functionality. It has some of the required features like stop loss/ take profit, many indicators, and pending orders.
This by itself is surely not enough to consider this software solution to be on par with giants of online trading like MT4 and MT5. NFTvisionFX fails to design and deliver a platform with advanced options, including copy trading and automatic trading.
Defective software is not what a professional broker or first-time investor should accept. Being the most important part of successful online trading, trading platforms have to be able to answer every trader’s requirements and needs.
Account Types Available
NFTvisionFX brokerage suggests the possibility of opening one of the several account types:
- Mini account – 500-5000$
- Green account – 5000$ – 10000$
- Premium account – over 10000$
Every account allegedly warrants negative balance protection, variable spreads, live support 24/5, free daily analysis, instant execution, and a personal account manager. Maximum leverage is diverging and it starts from 1:400 for the Mini account, 1:200 for the Green, and 1:100 for the Premium.
Under not-so-attractive trading conditions that include leverage up to 1:400 and spreads from 3 pips, investors can trade these categories of assets:
- Forex (USD/AUD, EUR/USD, CHF/NZD, JPY/CAD, EUR/AUD, USD/JPY)
- Cryptocurrencies (Bitcoin, Litecoin, Ethereum, Tether)
- Indices (UK100, DE30, US500, FRA40, RUS50)
- Commodities (cotton, coffee, wheat, silver, gold, corn)
- Shares (Adidas, Tesla, Apple, Microsoft, Nvidia, AMD, BMW)
Deposits and Withdrawals
As mentioned in the account types, the minimum deposit needed to be able to get a live account with NFTvisionFX is 500$. Since there is plenty of regulated brokerage enterprises that allow trading with a lot less investing, we’d recommend you choose them over NFTvisionFX. Depositing is done through credit/debit cards and wire transfers.
Withdrawing rules is where you see the true face of this phony that only focuses on defrauding clients. To prevent users from withdrawing funds, fees are charged and can be up to 20% of the profits in entirety. These fees are paid in advance, which means that the scammer can make you believe a huge profit awaits you and you get nothing after paying a hefty withdrawal fee.
Moreover, some bonuses and promotions could be added to the client’s account. These are not available for withdrawal, as explicitly explained by NFTvisionFX. Another typical scam method is to refuse and reject any withdrawal request.
If NFTvisionFX Defrauded Me, How Can I Get a Refund?
First and foremost, filing a chargeback is what ought to be done after being involved in a scam. Your bank account manager can help you stop the further abuse of your funds. Beware not to cross the deadline of 540 days since investing, how long the chargeback is possible. If you have deposited via credit or debit cards, it shouldn’t be too much of a hustle to get your funds back.
Depositing via crypto is what’s not advised, since scamming schemes keep their anonymity this way. In that case, you also need help from government organizations and police dealing with cybercrime, especially theft in this case.
Our NFTvisionFX review has tried to show all investors interested in NFTvisionFX why investing with this bogus broker is not safe. To summarize, remembering these clues might save you from your hard-earned money being robbed:
- NFTvisionFX fakes being regulated – lies about being licensed by FCA, CySEC and CONSOB are easily disapproved by checking the respective databases containing info on regulated companies.
- Faulty trading platform – simplistic and without any of the advanced features, the web trader at NFTvisionFX is made just for the illusory impression of trading.
- Unalluring trading conditions – leverage of 1:400 that puts the extra risk on your investment and costly trading with spreads starting from 3pip.
- Unsatisfactory withdrawal fees – 20% of the whole profit charged as a withdrawal fee is more profitable for the scammer than the investors!
FAQs About NFTvisionFX Broker
Is NFTvisionFX Legitimate Broker?
Despite NFTvisionFX claiming to own licenses by FCA, CONSOB, and CySEC, they’re completely unregulated and are operating illegally.
Does NFTvisionFX Offer A Demo Account?
The broker does not offer a demo account. The only accounts available are live accounts and the cheapest costs 500$.
What Are The Funding Methods For NFTvisionFX?
Credit and debit cards, along with wire transfers are the ways of funding trading accounts at NFTvisionFX.