Nordex Invest Review
Online trading is undoubtedly lucrative, but you need to bear in mind that it is also a serious financial endeavor that’s not without its risks. Sure, you can make a fortune within minutes, but the losses can be equally high if you make mistakes. This doesn’t just refer to your trading knowledge and skills, as there are a lot of other factors at play. The key is to remember that you have to do your due diligence in order to avoid mistakes and not make any decisions in a hurry. Otherwise, your financial security will be compromised and it is an outcome you want to avoid. Hence, checking out this Nordex Invest review is a must. Why?
This is because you need to sign up with an online broker to start trading in the financial markets. It will not take you long to discover that the options appear seemingly endless, but not all of them are created equal. As a lot of money flows into the financial markets, it has attracted a criminal element, so scam brokerages have been established as well. These are designed to lure people in with false promises and then steal their money and personal information for illegal activities.
No one would want to be a victim, but sometimes it can be difficult to distinguish between scam and legal brokerages because they deliberately add such features that make it challenging. You will encounter this issue with Nordex Invest because at first glance, it looks like a perfectly legitimate broker. In fact, it comes off as a very attractive platform because it is offering scores of trading instruments, which include a ton of forex pairs, along with CFDs on cryptocurrencies, shares, indices and commodities. They also advertise favorable trading conditions, which include fast execution and tight spreads.
A reliable web based platform is just the cherry on top. This makes Nordex Invest come off as a fine solution for you to explore the financial markets and make the profits you want. If only, it really did offer everything it claimed and was an authentic broker. Unfortunately, you will come to know that it is nothing less than a scam website. There are a number of issues that you will find when you do your due diligence. What are these? You can check out some of them below:
An authentic brokerage will provide you with detailed information about its parent company, its registration status, licensing and other essential data for your peace of mind. Given how impressive Nordex Invest appears to be, you would expect that they provide the same. However, you are in for disappointment because the information about the brokerage is confusing to say the least. If you scour through their website, you will find that two company names have been quoted. One is Nordex Invest LTD and the other is known as ROI STOCK LTD. But, they have not disclosed which one is the principle company and there is no information about its location.
As a matter of fact, a thorough study of the website will tell you that Nordex Invest is completely anonymous. You will find no corporate address provided and there is no corporate background available either. In fact, they have not even provided a contact phone number, which is definitely worrisome because they should have given one for support purposes. Moreover, you will not find a single word that mentions licensing or authorization. Any brokerage that’s operating legally is required to register with their country’s respective regulator.
The fact that Nordex Invest has not bothered to do so, and has neither given any details should warn anyone off. In case something goes wrong, you will not know who to call or where to visit because there is no data, whatsoever. If the broker disappears overnight, you will not be able to do anything about it.
Terms & Conditions
The lack of licensing and other details is already a big mark against a company like Nordex Invest. What’s more is that this is not the end of the problems associated with this broker. Their Terms and Conditions are another aspect that will take you by surprise because they are definitely not something you would expect from an authentic platform. If you go through their T&Cs, you will discover that they do not allow their clients to make any withdrawals until they meet some minimum trade volume requirements, which are linked to the trading bonus they offer.
They require you to have a trading volume that’s 40 times for every dollar of your bonus. These terms are downright ridiculous because it is not easy for even the most professional traders to come close to this number quickly. Apart from that, it is also mentioned by Nordex Invest that they can change their bonus policy any time they wish, which means they can prevent you from making withdrawals altogether. This is a common tactic used by scam companies and one you should be aware of.
Another problem that you will find with Nordex Invest is in regard to their trading platform, which is not a platform at all. What they do provide is a funny resemblance to one and it doesn’t really exist because there is no option to trade. You can only make deposits, which is kind of the entire purpose of the scam; get people to deposit their money and then not allow them to withdraw. How will you be able to trade when there is no trading platform provided? This is the ultimate question.
Sure, the minimum deposit requirement imposed by Nordex Invest is just $250, which is considered standard amongst brokers, and they claim to support different payment methods like credit and debit cards, SEPA, wire transfers and bitcoins, but can you really believe them? The fact that they are virtually anonymous, don’t provide any details of their trading conditions and have deliberately added Terms & Conditions for exploiting people should tell you that it is not a good broker.