August 7, 2020

NelsonFX Review – Is NelsonFX Scam or Legit?

nelsonfx review

Regulators: –

Cryptocurrencies: NO

Minimum Deposit:$100

Maximum Leverage: N/A

Spreads: N/A

My Score: 2.0

I will take care of NelsonFX inside this review. NelsonFX is owned and functioning from Glastrox Trade Ltd.. The broker offers investment services chiefly on Contract for Differences (CFDs) on forex.

Glastrox Trade Ltd is situated at Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands, MH 96960

In this NelsonFX review, You’ll obtain the answers to these questions. Can it be NelsonFX scam or dependable? what are the accounts sorts with the broker? Can it be NelsonFX regulated? what are the trading requirements such as spreads, minimum deposit leverage?

I shall focus on the regulation department that’s the most essential issue about this broker.

Regulation of NelsonFX

NelsonFX is a registered Manufacturer of Glastrox Trade Ltd. The business is registered in the Marshall Islands (registration number 91438). As stated by the broker’s internet site, the firm asserts it is governed by the Marshall Islands Business Corporation Act.

Glastrox Trade Ltd is managed by Keyword Services Limited that is situated in Cyprus. It’s really a truly complicated company strategy. But I will state that both businesses are unregulated that greatly simplifies the validity of this broker.

It is really insecure to trade having an authorised broker. You might lose your hard-earned money to scammers. I recommend one to work well with reliable brokers.

There are several admired fiscal watchdogs like the Financial Conduct Authority (FCA) at the UK, Cyprus Securities and Exchange Commission (CySEC) and Australian Securities and Investments Commission (ASIC). They might require strict rules for brokers to confirm.

Duly regulated brokers offer a drawback balance safety with their customers, maintain their money into segregated accounts, document routine reports and maintain a specific minimum operational funding.

FCA and CySEC regulated brokers offer client damages schemes. By way of instance, FCA regulated brokers protect customers backing up to 50,000. And additionally, CySEC regulated brokers protect customers backing as much as 20,000.

Account Types and Spreads

There are just two accounts Kinds of NelsonFX. All these are Live Account and also Live Premium accounts. Regrettably, there’s limited info regarding these on the broker’s internet site.

Nelsonfx account types

Live accounts’ minimum deposit is $100 and Live Premium accounts’ minimum deposit is $1000. The broker doesn’t provide information about spreads and maximum leverage. This is a disadvantage for this broker about transparency.

Trading Platforms

NelsonFX provides the most used trading platform MetaTrader 4 (MT4). This is a convenience for the broker.

For more than 14 years, MetaTrader has provided you with high quality, professional and secure application guarantee which the best trading strategies and automated algorithms are created in all branches.

MetaTrader 4 is still the most popular trading platform because it has a user-friendly interface, complete technical analysis, trading signals and copy trading, alerts and financial news and algorithmic trading.

Trading Instruments

NelsonFX offers its clients to trade with Forex, Commodities, Index, Stocks, and Bonds. You can reach 100 currency pairs with NelsonFX.

Other instruments include CFDs on a variety of shares including cocoa, copper, coffee, corn, cotton, rice, soybeans, sugar, wheat, natural gas, oil, as precious metals gold, silver and platinum.

Customer Services

The brokers’ site supports English, Vietnamese, Ukrainian, Russian, Italian, Spanish, and Arabic languages. The site isn’t well-designed. There’s not any livechat plus so they respond to emails.

Deposit and Withdrawal Methods

NelsonFX provides just real bank cable and major credit cards. Popular e-wallet techniques aren’t available such as for instance Skrill and Neteller. There’s not any option to invest in Bitcoin also.

According to this NelsonFX’s withdrawal terms and conditions, I found some rather unacceptable withdrawal conditions. You cannot withdraw any of your funds if you accept a bonus until you reach a certain minimum trade volume requirement.

Conclusion

NelsonFX is an unregulated offshore Forex broker. The broker doesn’t provide enough trading requirements also it includes not a lot of financing options.

The broker has irrational withdrawal ailments. As I always say, it’s very insecure to trade having an authorised broker. There are several scammers and also you should protect your self from these.

NelsonFX

2

Trust

1.0/10

Commissions and charges

3.0/10

Customer Service

2.0/10

Platform & Tools

2.0/10

Product Portfolio

2.0/10

Pros

  • MT4 endorsed

Cons

  • Unregulated broker
  • Limited Payment Methods