Have you been scammed by NordFX and looking for how to get your money back? You’ve come to the right place.
The growing excitement surrounding cryptocurrencies is attracting more people to invest in them. However, where there is excitement, danger often lurks. Regrettably, the cryptocurrency market is plagued by more rogue brokers than reputable, authorized financial businesses.
With the rise of social media deals and online trading, cryptocurrency fraudsters now have more opportunities to target unsuspecting individuals who are unfamiliar with the market and are looking to make quick money.
As a result, many of these unscrupulous brokers take advantage of these opportunities to defraud consumers of their cryptocurrency. NordFX is one such broker that engages in these fraudulent practices.
Read on to learn more about how cryptocurrency scams work and how to get your money back from NordFX.
An Overview of NordFX
As a forex and CFD broker, NordFX offers clients all over the world online trading services. The business was established in 2008, and its main office is in Port Vila, Vanuatu. A variety of financial products are available for trading through NordFX, including currency pairs, commodities, equities, and cryptocurrencies.
The firm is known for fast order execution, competitive trading conditions, and minimal spreads. The broker offers different trading platforms, including the NordFX trading platform and the popular MetaTrader 4 platform.
The Vanuatu Financial Services Commission is in charge of regulating NordFX. NordFX is also a member of the Financial Commission, which is an independent group that helps its members and their clients settle disputes. The broker also provides various instructional tools, including webinars, trading manuals, and market analysis to assist its clients in honing their trading skills.
Sadly, a series of reviews have revealed NordFX to be a scam.
How are Crypto Scams Executed?
While NordFX might seem like a friendly broker with a professional website and active social media presence, offering an irresistible daily return of 1% on cryptocurrency trades, it is important to exercise caution.
Although not all cryptocurrency scams are immediately apparent, they can be incredibly convincing and skilled at enticing individuals to invest large amounts of money. Unfortunately, many customers realize too late that their funds are being held hostage and that they are unlikely to receive any returns.
To avoid falling victim to these scams, effective fund recovery is essential. The first step is to accept that you may have been defrauded and take action by closing your account. If this does not work, consider enlisting the help of experts in fund recovery such as Global Assets Refund, as fraudulent brokers are unlikely to return the money they have stolen.
Ultimately, it is crucial to be wary of scams and to thoroughly research any broker or investment opportunity before making any financial commitments.
Is Your Money Safe With NordFX?
NordFX does not have a good reputation among its customers. We found numerous NordFX reviews where customers lamented that they were unable to withdraw money from this broker.
The broker’s customers should find out which NordFX broker entity they belong to. Be very cautious if you learn that you will be trading with NordFX Vanuatu. Or, even better, pick a broker that is subject to FCA or ASIC’s tier-1 regulation.
Why is NordFX a Fraud?
Here are some of the reasons why we believe NordFX is a scam:
NordFX has a bad reputation. This is not only a result of unsatisfactory client feedback; regulator notifications and maybe negative news coverage of NordFX also play a role. You don’t have to work with a broker who has a cloud over them; you can select one who is trustworthy.
Non-Compliance With Regulations
NordFX might not have complied with regulations. Serious legal issues may arise from this. This typically indicates that the broker is using methods that are against the law or enrolling clients in places where they lack the necessary authorization to conduct business.
Like many other cryptocurrency schemes, NordFX guarantees profits that aren’t possible. This not only causes dissatisfaction but also presents a moral dilemma for any broker. Unpredictable and risky assets, like cryptocurrency or forex, can rise and fall suddenly. Brokers cannot in any way promise their clients a specific rate of return.
An online trading company must have a current, valid license. Many brokers make fictitious license claims and may even present an entirely fraudulent image. It is crucial to check all licenses online at the websites of the authorities because of this.
Some consumers may think that third-rate or offshore licenses are sufficient, but they are not worth the virtual paper they are printed on. These fictitious authorities don’t carry out any inspections or address customer concerns; instead, they issue licenses in exchange for money.
NordFX does not have the necessary licensing.
The CMVM of Portugal issued a warning about this broker. It appears that the broker was serving Portuguese clients through a Vanuatu business. This warning (coupled with other warnings from other regulatory organizations) is a strong signal that you shouldn’t do any business with this broker.
How to Get Your Money Back from NordFX
If you have a NordFX account, we advise that you close it and withdraw all your money immediately. Dishonest brokers may resist releasing your funds and may offer excuses or demand excessive fees. If this happens, inform Global Assets Refund right away, and we will guide what steps to take next.
At Global Assets Refund, we have fund recovery experts who can assist you in reclaiming your lost money from crypto scams, forex scams, or legal disputes. We produce intelligence reports, negotiate with banks, and develop strategies to help you get your money back. Contact one of our experts promptly to discuss your situation.