Think of trading on NewConcept-FX.com platform? Is this broker a reliable broker to trust? Let’s read New concept FX 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.
About New concept FX
New Concept FX otherwise known as Newconceptfx.com is an offshore brokerage operated by Concept LTD with an open presentation of promises for forex traders. The forex company claims to be headquartered in London.
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
New Concept FX Minimum Deposit?
Newconcept FX does not mention its deposit menu for traders. In comparison, a licensed FX broker 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, the broker provides no information on its payment options.
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!
Withdrawal process:
Newconcept FX withdrawal says nothing on specific information regarding withdrawal fee and processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
Captrader Financial Platform:
New Concept FX presents the industry-standard trading platform MetaTrader 5 (MT5). But the links to download the software are not active.
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.
Nothing is said on Newconcept FX leverage. Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Won’t you rather trade with a licensed and legit 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, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
What We Discovered about Newconceptfx.com Broker
First of, Newconcept FX alleges a based in the United Kingdom with an FCA license. Going through the UK Financial conduct authority’s database, we did not find this broker among licensed entities.
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 are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
New Concept FX Licensing and Regulation
It is not far from believing that this broker 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
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
Conclusion:
New concept FX located at Newconceptfx.com claims to appear like a trustworthy trading broker, however, don’t take their word for it. By all appearances, we would advise traders to steer clear from this 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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