Is Northstate broker legit?

By Paulo Neves, from Portugal, June 1, 2021 at 05:41 PM

Hello! I’ve been trading by this broker for two weeks. Haven’t made any withdrawal yet, so I could not know if that is an issue. Best regards.

Answer: Hi Paulo Neves,

Northstate is an offshore forex broker. The company is registered in Dominica. Dominica is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as Northstate.

The company is located in a known offshore zone, which does not require minimum capital requirements that shows company sustainability, as well as do not regulate Forex businesses yet. Therefore, that means that the company operates on its own risk and management style while the client may face some manipulations or will not be compensated by any international organization in case of insolvency.

We would recommend you to avoid this broker and try to withdraw your investment as soon as possible. And in any case not to invest more, because you may risk your funds and won’t be able to get them back.

Leave a Reply

Your email address will not be published.

* code