It’s rare to encounter a brokerage company with headquarters in Monaco, indeed not the most popular jurisdiction for opening a broker. Meet NewTradeVision, which claims to have a rich history and unique conditions. There are almost no reviews about the firm on the internet, and its operational duration remains a mystery. Despite having an office in Monaco, the user agreement indicates an offshore jurisdiction in Belize. Regulation is also mentioned on the site, but without the name of the regulator, license number, or a link to the registry. All this strongly resembles a scam. We invite you to join us in an intriguing investigation to find out what this platform is all about.
Table of Contents
|🎲 Demo Account
|⏳ Start Time
|💲 Minimum Deposit
|⚖️ Minimum and Maximum Leverage
|⚙️ Trading Platform
|+377 22 04 19 42
First Impression of Newtradevision.com
Can a one-page website be considered a sign of a serious and solid broker? Unlikely. And that’s precisely what we see with NewTradeVision. A one-page resource with a small amount of important and necessary information. Navigation is greatly simplified; just click on the relevant section at the top of the page, and it automatically moves to the required place.
The NewTradeVision site cannot boast of informativeness or high quality. Many details about the company’s activities and trading conditions are simply missing. And how can all the information be fitted on one page? Of course, it can’t. More than 90% of all text is meaningless phrases that provide no value. They can be safely removed without changing anything.
Partnership and Bonuses
It is unknown whether NewTradeVision offers any bonus promotions, as they are not mentioned on the site, and there is no bonus policy in the user agreement. However, there is a mention of a promo-bonus in the section dedicated to terms and definitions, suggesting that such an option might exist.
Information about the affiliate program is only available during the account registration stage, which we will discuss later. The broker does not disclose any conditions for the affiliate program, but a referral code can be entered during registration.
Looking at the bonuses and affiliate program, there is already some opacity and secrecy from the broker, which are clear negative signs. A verified and honest company will provide all information regarding conditions, not ignore them.
Account Opening on Newtradevision.com
To create an account, you need to click the “Registration” button on the official NewTradeVision website. A form opens where you need to fill in details: name, contacts, promo code, and password. The system also requires agreeing to the terms and refund policy.
Confirming the email and phone number was not required, which is a serious security flaw in NewTradeVision. It should also be noted immediately that the personal account is integrated into the terminal, which is essentially a single entity, reducing the level of reliability and convenience. It would be more practical and safer to separate the client portal and the trading platform.
The personal cabinet of NewTradeVision consists of several main sections:
- Profile: Here, clients can upload documents for KYC, edit personal data, connect 2FA, and change the password.
- Deposit: To top up the balance.
- Withdrawal: To create withdrawal requests.
- History: To check the order history and its parameters.
Unlike the official website, the NewTradeVision personal cabinet supports not only English but also German, Icelandic, Spanish, Czech, and Polish. The broker lacks a demo account, an obvious option that should be available with any brokerage firm. Otherwise, how can the service be tested?
The absence of an AML&KYC policy is the first minus. Verification is almost not described, but it is known that withdrawal is only available to verified users. The processing time for the request is unknown, which is the second minus. Document upload occurs in the NewTradeVision personal account. Judging by the design, the company requires a standard set of documents to confirm the trader’s identity and address of residence, as well as a photo of the bank card.
- Convenient process for uploading documents through the personal account.
- Document with AML&KYC policy is missing.
- The verification procedure is not described.
- The document processing time is not specified.
- The firm requires a photo of the bank card.
NewTradeVision offers a very primitive and low-functional solution as its trading platform. Such a terminal is definitely not suitable for serious and professional trading. It’s a simple WebTrader supporting only basic features:
- A list of assets, including the creation of a watchlist.
- Several types of charts.
- Technical and graphical analysis using lines, levels, and other elements, as well as indicators.
- Pending orders, including stop-losses and take-profits.
However, many important and necessary options are missing. There are only five timeframes: 5 min, 30 min, 1 hour, 1 day, and 1 week. Where are the minute charts, at least? It seems impossible to connect advisors for auto-trading. Nor can you upload custom indicators or start copying other users’ trades. Additionally, it’s worth noting the absence of a mobile version of the NewTradeVision platform. No app for smartphones has been developed, but the terminal is adapted for mobile browsers, which is an extremely inconvenient approach.
How Can I Trade With NewTradeVision?
The broker offers a wide range of assets for trading: forex (majors, minors, and exotic pairs), commodities, stocks from the USA, Europe, and Russia, indices, and cryptocurrencies. Clients can use leverage to increase volumes, but it’s limited to 1:50 depending on the traded instrument. Next, we will look at the types of accounts in NewTradeVision, as this influences the conditions.
All Info About Accounts
The firm has developed only three tariff plans with minimum deposits of $500, $25,000, and $50,000. These are high requirements for initial funding, which seem utterly absurd. Given the absence of a demo account in NewTradeVision, it is unlikely that many would be willing to invest a minimum of $500 just to try the service, not to mention $25,000 for the second type of account. The company’s demands are too unrealistic and seem like feeble attempts to extract more money from users.
The first account type, “Beginner”, hardly has any privileges, except for a standard-level financial plan. If clients want additional services, they need to invest a substantial amount. And it’s not even $25,000, because at this tariff, there’s only an individual financial plan and some insurance. Deposit protection and 24/7 personal support from NewTradeVision are only available with a deposit of $50,000 or more.
Where does the broker’s insurance come from? Who is the insurance agent? Nothing is said about this. Why are there virtually no privileges? Especially for beginners? What’s the point of opening the first type of account if even cryptocurrencies and metals aren’t available for trading? Indeed, the trading conditions look insane and nonsensical. Additionally, there is no Islamic account. Commissions and spreads are completely ignored. NewTradeVision is like a cat in a sack; it’s unknown what conditions await traders. Therefore, it’s hardly worth risking for the sake of something so unclear.
- $500 is a high minimum deposit.
- No interesting unique advantages or privileges.
- Commissions and spreads are not disclosed, and an Islamic account, as well as a demo account, are absent.
Market Analysis and Education With Newtradevision.com
Another significant shortcoming of the broker is the absence of market analytics and educational courses. While popular brokerage companies create various educational resources for their clients, offer fresh analytics, and provide access to widgets (economic calendars, news feeds, and calculators for calculating position parameters), NewTradeVision only offers some sort of financial plan.
Deposit, Withdrawal, and Fees
The official website lacks information regarding the deposit and withdrawal of funds, but the methods of transfers can be found in the personal account. Here, too, the situation is interesting. Deposits in NewTradeVision are available only through Bitcoin and Tether (TRC-20), but when attempting to create a withdrawal request, it shows not only a cryptocurrency but also a bank card and bank transfer. The commissions are not specified.
|Squire’s Finance Limited
|Modus UK Limited
How Can I Contact It?
The firm provides only two ways of contacting managers: phone and email. However, the main question is whether the NewTradeVision staff will respond or not. The issue is that the email address turned out to be fake, so only the phone number remains.
There is no online chat for prompt communication and quick resolution of issues. Also, no social media accounts have been created. It is likely even impossible to get in touch with the managers.
- The email address turned out to be fake.
- There is no online chat for prompt communication.
Is NewTradeVision Dangerous?
With a high degree of certainty, we are dealing with a fraudulent broker. A low-quality website, hidden trading conditions, and fake contact details are hardly the hallmarks of a verified and experienced intermediary. The firm definitely requires a check of its license and operational duration.
How Long Does The Broker Work?
It was not surprising when we couldn’t find the company’s founding date. Scambrokers often don’t even mention their operational period, or they invent a fake founding date. Simply checking when the NewTradeVision official website domain was created can reveal whether it’s a young firm or has been in the forex service market for a long time.
As is evident from the screenshot, the domain for the official website only appeared in October 2023. It clearly indicates a short operational period.
How Is NewTradeVision Regulated?
Regulation of activity is also a crucial aspect. We have information that the broker is based in Monaco. However, the user agreement mentions the jurisdiction of Belize. NewTradeVision is not listed in the CCAF registry, meaning it has no regulation in Monaco.
A check of the IFSC registry also showed the absence of the broker there. It turns out that the company does not possess any licenses for its activities, and therefore it operates illegally.
|Odyssey Investment Group
|General Trust Group
Frequently Asked Questions (FAQ)
How to Trade With NewTradeVision?
Is NewTradeVision Legit?
How Risky Is It?
A broker from Monaco? That’s quite unusual. Typically, scammers choose offshore locations or the United Kingdom, but here they’ve opted for something unique and unconventional. It’s interesting. However, checking the financial commission’s registry in Monaco to confirm illegal activities is straightforward. NewTradeVision is just an ordinary scambroker, no different from other fraudsters who deceive clients and steal their money. The website was created a month ago, offers no guarantees, and has inadequate trading conditions – there’s no doubt about the scam nature. Moreover, it’s 100% a b-book. In short, it’s best to avoid this pseudo-brokerage company.