Is NetoTrade Scam or Legit Broker? 

According to our research, NetoTrade is a total scam. The broker is not regulated and has no legal right to provide financial services to the public. Moreover, NetoTrade has been suspected of fraud, when pretending to be another company with a better reputation.

About NetoTrade
🗺️ Registered inSt. Vincent and the Grenadines
🗺️ Type of LicenseOffshore License
🛡️ Is NetoTrade safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

What is NetoTrade?

NetoTrade is an international financial investment company that targets worldwide international clients from different jurisdictions and approaches with attractive trading conditions with alleged easy access to trade and invest with the broker. However, the firm operation shows very tricky approaches and it is not even clear where the company office is located.

  • At the established stage the NetoTrade brand was used by the registered company in St. Vincent and the Grenadines, as well some period of time it showed information about its base in the UK with a further change of addresses and offices in Cyprus, Israel, and Dubai. Therefore, the broker swings between the countries in order to offer and attract a vast amount of traders for its own purpose. Moreover, in 2013 the UK watchdog of the Forex industry Financial Conduct Authority issued a warning to the company since it does offer its services without necessary licensing.
  • In addition, the numerous complaints from NetoTrade clients and traders are dating from the beginning until now, which shows that the company is still targeting ‘Naive” clients to their rows. The traders’ complaints were mainly about the issues to withdraw the funds and significant losses due to price manipulations or other malicious actions by the broker. As well, many of the clients were attracted by the cold calls from the company representatives that promise quick and high growth of investments, which is considered to be an illegal service. 

  • Currently, the NetoTrade international website is dismissed and redirected to the Arabic version of the website, which means the company aims to catch Arabic-speaking clients. Overall, the MENA area is quite known for the vast of scams and frauds due to the fact that there is no strictest restriction to the Forex industry businesses, along with the lack of population knowledge about involved risks. 

NetoTrade Review

NetoTrade Review Conclusion

We strongly advise opening a trading account only with brokers that are regulated by respected world authorities that comply with the required set of rules and have a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as HotForex and BlackBull Markets

NetoTrade Update

We found that the NetoTrade website is inactive and unavailable to reach. This means the broker no longer operates. However, it is best to avoid and stay alert in case any proposals show up.

No news available.

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