Table of Content
Nolxweb Review – Lies Behind Nolxweb.Com Broker
Table of Content
While scrolling through Nolxweb’s website, we found that Nolxweb claims their two brands, Nolxweb Australia Pty. and Trademax Global Limited, are regulated by two regulatory bodies, ASIC and VFSC.
After reading to the bottom of the page, we saw that the Nolxweb is allegedly based in Virginia, US. The thing is, ASIC is a financial institution in Australia, while VFSC’s jurisdiction is Vanuatu.
So we checked the two American financial institutions, CFTC and NFA, as well as ASIC and VFSC, but we couldn’t find Nolxweb in either of the registers.
Be sure to keep reading our Nolxweb Review and see what other parts of this unscrupulous brokerage is questionable.
Nolxweb Reliability – Regulation and Security
Beside lying about their regulatory status, there are no licenses, registration numbers nor any legal document available on this scammer’s website, which is just a confirmation that Nolxweb is definitely an unregulated forex broker.
And even if we were to ignore false claims about being regulated, we couldn’t find any information about negative balance protection, segregated accounts or anything that could serve as a safety net. Nolxweb is practically anonymous, and we’ve mentioned many times that investing with brokers you know nothing about is a bad idea.
Overall, security of funds is definitely not guaranteed, and we urge you to choose a legitimate, regulated broker instead.
Nolxweb Trading Platform Overview
Nolxweb’s trading platform is an exclusive WebTrader apparently developed for Nolxwebs. It’s been highly praised by the scammer for being the best environment for portfolio management and EAs.
We couldn’t actually get a glimpse of the advertised platform as the account had to be verified first. This is another big red flag, as it acts like a trap – verification of the account and providing personal documents are needed before actually seeing what you’ve gotten yourself into.
And after all, no customized trading platform couldn’t come close to MT4 and MT5, the two most diverse and functional softwares used by most regulated brokers today.
Trading Account Types
Nolxweb offers its potential victims 6 account types/packages to choose from:
- Basic ($500 minimum deposit)
- Silver ($2,600 minimum deposit)
- Gold ($6,000 minimum deposit)
- Diamond ($10,000 minimum deposit)
- Platinum ($21,000 minimum deposit)
- Ultimate ($60,000 minimum deposit)
With each account type ROI is listed – Basic account brings 25% ROI, while the Ultimate account promises no less than 95% return of investment. Leverage is listed a lot over the regulated cap at 1:500, which is a bad sign when it comes to brokerage.
Although 1:500 may bring a huge profit in theory, it can also bring huge financial losses, and the latter is usually the case. Minimum deposit at $500 is a lot, especially since a lot of regulated brokers will let you trade with them by investing as little as $10.
Nolxweb Trading Instruments
At this bogus broker’s website one can access over 15 000 trading instruments and several markets. So, at Nolxweb, it’s possible to trade with the following:
Spreads start at 0.0, which is good, if we choose to ignore everything else that’s wrong with this fraudulent brokerage.
What’s a bit unusual is that it seems one can’t trade with crypto currencies even though trading with crypto has been increasingly popular in recent years. This is just another good reason to avoid this unlicensed broker and invest with a legitimate one.
Deposits and Withdrawals Process
As mentioned earlier, the trading platform can’t be accessed with successful account verification. The same goes for everything else, without the verification, one can’t see what withdrawal and deposit options are available as well as what the fee structure looks like. When we tried to explore the funding part, we were basically redirected to the main page.
Nolxweb does state, however, that people can choose from 10+ payment methods, which should be taken with a pinch of salt, just like everything else.
Regulated brokers must be transparent when it comes to all aspects of their business, especially when transactions are in question.
Nolxweb Scammed Me – How Do I Get a Refund?
If you had made a deposit via a wire transfer and later noticed fraudulent activities on your account, you can recall the transaction.
If the deposit was made with a credit card, you have pretty good chances of getting your investment back. Visa and MasterCard offer a chargeback option which is valid for up to 540 days from the day transaction was made.
Crypto is a lot more complicated to reimburse, which is why it’s preferred by scammers, but still not impossible.
However, it’s important to act fast as most scamming brokers like Nolxweb manage to stay anonymous and operate offshore, hiding behind their shell companies.
- Nolxweb is an unregulated and anonymous forex broker.
- There’s no demo account at Nolxweb.
- No information regarding the trading platform, payment methods and fee structures is available prior to a successful account verification.
- Minimum deposit for opening an account is $500.
FAQs about Nolxweb Broker
Is My Money Safe at Nolxweb Broker?
Nolxweb is an unregulated and anonymous online broker, which is why your money wouldn’t be safe with this fraudulent broker.
How Long Do Nolxweb Withdrawals Take?
No information regarding withdrawals was disclosed before the verification of an account, so it’s unclear how long withdrawals would take.
What Are The Funding Methods For Nolxweb?
Although 10+ payment methods are advertised on Nolxweb’s website, it’s not specified which payment methods are actually available.