Nimble Markets Review
It is a given that you want a dependable and capable broker to give you access to the financial markets. Settling for less would mean compromising your trading experience as well as your performance and this is not something any trader desires. However, it is vital to remember that finding a platform that suits your needs is easier said than done. In fact, many consider it impossible, considering that there are thousands of companies that have been founded and each making one claim after the other. But, not all claims should be taken at face value, something that is evident from this Nimble Markets review.
It will not take you long to learn the existence of scam and shady brokers in the market, which have also increased two-fold due to the increased activity. The problem is that these appear to be quite similar to legitimate options and unless you know just how to distinguish them, you are likely to fall into their trap. None of them will come with big warning signs that can help you understand their reality. It is up to you to decide if you are ready to make the effort to make the right choice.
If you aren’t, then you should be prepared for things to go wrong. In case you don’t want to learn things the hard way, looking into a brokerage’s offerings can save you from the hassle. This becomes apparent when you do it with Nimble Markets, portrayed as a true and regulated STP/ECN brokerage that offers impressive spreads that almost start from zero. Then you add the opportunity to begin trading from a deposit as low as $10 and get access to leverage as high as 1:500 and it becomes quite the package. Is it a dependable broker? Unfortunately, it is all about appearances with Nimble Markets because it is not what it purports to be. Want to know the problems? Check them out here:
False regulation claims
The regulation and licensing of an online broker are considered the biggest indicators of its reliability and authenticity. It is reassuring because it shows that the company maintains standards and can offer you protections as well. When you check out Nimble Markets’ presentation, you will find it to be quite impressive and convincing in the first glance. They have provided all the relevant information and also claim to be properly licensed and regulated.
If you were to take their word for it, then you would be falling into a trap. First off, Nimble Markets does not elaborate where it is regulated. Secondly, if you check out their location, you will find that it claims to have its headquarters in Seychelles. This would imply that Nimble Markets is regulated by the Seychelles Financial Services Authority (FSA), but this does not appear to be the case either.
Moreover, even if it were regulated in Seychelles, it still wouldn’t help Nimble Markets’ case because offshore institutions do not offer the same kind of protections as other jurisdictions like Europe, US, UK, Australia and Canada.
As it has already been established that Nimble Markets is not a regulated and licensed broker, this means that there is no way for you to verify their credentials. Even the address they have provided cannot be verified, so you cannot take their word for anything. Furthermore, you can go through their entire presentation and not find the name of the company that owns and operates the brokerage. This makes it virtually anonymous and not one you can depend on, especially when it comes to protecting your sensitive and personal information, or your money for that matter.
Conflict of interest
When you continue to look into the offerings of Nimble Markets, you will find further problems. One of the attractive offerings that they have added on their website is that of their fund managers. According to the brokerage, those who are not familiar with trading, or don’t have the confidence to trade on their own, can use the services of their fund managers. This means that they will do trading on your behalf.
This might sound like a dream come true, when you believe someone else will be able to make profits for you. But, the problem here is that Nimble Markets claims to be a brokerage, which means that its nature is that of a market maker. Hence, they will only make profits when their clients make losses. Every time a trader loses a trade, the broker they are using makes a profit.
If you were to depend on Nimble Markets to make your profits, they would be going into loss. This creates a conflict of interest, as the company would not deliberately accept losses. Hence, their fund managers are going to mismanage your money in order to help their own bottom line, which means the platform is not sincere at all.
Unbranded trading platform
The trading platform is one of the most important features that online brokers offer to you and it is understood that every trader wants access to the best. The fact that Nimble Markets does promise you so is what attracts people, as the MT5 is recognized as an acclaimed platform in the market. When you check out the platform that is offered by the broker, you will be in for a surprise.
This is because the trading platform provided by Nimble Markets is an unbranded MT5, which is provided directly from the website of the platform’s developers i.e. MetaQuotes. Essentially, this means that no platform is supported by Nimble Markets, which does not make sense because there can be no brokerage without a trading platform. The lack of a certified and professional trading software, such as MT4, MT5 or cTrader to name a few, is an obvious indicator that everything is not as it appears to be where Nimble Markets is concerned.
As it is lying about its regulatory status, trading platform and has a conflict of interest, Nimble Markets cannot be deemed dependable in any way.