Currently, the forex industry is swamped with scams, involving deceptive individuals creating counterfeit brokerages to swindle money from unsuspecting people. Let’s review NFG Finance to determine whether it is one of the trustworthy players or is it just another fraudster? While they propose to elevate our trading skills and provide professional support, user reviews paint a drastically different picture. Let’s dig deeper into that company.
Table of Contents
Highlights
| 🏛️ Country | United Kingdom |
| ⚠️ Regulation | – |
| 🖥️ Website | https://www.nfgfinance.com/, https://www.nfg-finance.com/ |
| 🎲 Demo Account | No |
| ⏳ Start Time | 2023 |
| 💲 Minimum Deposit | £5,000 |
| ⚖️ Minimum and Maximum Leverage | 1:20-1:100 |
| ⚙️ Trading Platform | WebTrader |
| support@nfgfinance.net | |
| 📞 Phone | +442081575015 |
First Impression and Review Nfg-finance.com
The company’s website, which acts as the business’s public face, appears somewhat lackluster. It seems NFG Finance aimed to produce an appealing and respectable website, but the result is rather poor and undeveloped. Despite the visual effects and portrayals of successful trading, the site’s generic design, absence of crucial information, and awkward attempts at uniqueness are notably laughable. The website structure is identical to those of other firms.
Partnership and Bonuses
While NFG Finance doesn’t explicitly mention an affiliate program, the option to refer to code during account registration suggests the existence of such a program. Is it really that difficult to disclose information about affiliate bonuses? Regarding other bonuses, it’s hardly surprising to see deposit bonuses, albeit only for deposits exceeding £75,000 – a detail that seems absurdly high. We suspect the company imposes bonus promotions regardless of the selected plan or deposit size.
Account Opening
The company’s registration procedure is fairly standard. Nothing extraordinary arises until you register a personal cabinet. Unlike most companies that require a phone number and email verification post-account creation, NFG Finance appears to skip this step. They seem to allow users to register accounts using any contact details, creating a potential playground for hackers. The safety of personal information is depressingly inadequate.
From their accounts, customers can deposit/withdraw funds, navigate to the web platform, modify personal information, retrieve a referral code for invitation purposes, and review trading and transaction history. As for opening a demo, we found no such feature.
Verification
The verification process in NFG Finance appears straightforward. The system prompts users to select the type of document they want to upload and specify its location on their computer. Whether broker verification is compulsory remains unclear, given the absence of AML&KYC documents on the website and a lack of clarification on this matter.
- Simple KYC.
- No AML&KYC documents.
Trading Software
WebTrader, a rudimentary trading terminal, is a hallmark of scam brokers. As counterfeit companies can’t afford to license proper software like MetaTrader, they resort to installing the simplest version of WebTrader – a platform that’s a fraction of the cost of modern, advanced platforms. The platform’s functionality is limited to basic indicators, horizontal levels, and a few graphical elements. It lacks features such as volume profiles, open interest, and the ability to upload custom indicators.
| Features | NFG Finance | Equithy | Market Haven |
|---|---|---|---|
| Demo Account | ❌ | ❌ | ❌ |
| Mobile App | ❌ | ❌ | ❌ |
| Own Development | ❌ | ❌ | ❌ |
How Can I Trade With Them?
Next, we’ll examine the trading terms. Will NFG Finance disappoint us in this regard? Chances are, it will.
All Info About Accounts
Clients are presented with a selection of 5 tariff schemes, with the minimum deposit amounting to an astronomical £5,000. Honestly, we can’t recall reputable, long-standing, and popular Forex brokers setting such high bars for initial deposits. The sum is substantial, and not every novice can afford that amount. Not every accomplished trader would wish to invest £5,000 that lacks a demo account or a cent-based plan. What’s even more amusing and absurd is that for £5,000, traders only receive a restricted list of tradable assets. Crave to trade across the full spectrum of markets? Be prepared to deposit £150,000.
A classic feature of fraudulent brokers is tariff differentiation based on the minimum sum and supplemental services. NFG Finance, in this aspect, hasn’t deviated from other scams. The extra services provided are a trading assistant, an individual financial plan, investments with returns starting from 9% monthly, and a portfolio manager. The text has typos; for instance, in the word “Managment,” a letter is missing. The maximum leverage amplifies alongside the minimum deposit limit, although it should be the inverse. Why would a client with £75,000 require 1:100 leverage? It seems as if the trading terms were created by an individual who’s never participated in financial markets.
It’s worth highlighting separately the investments, available to users on Gold tariffs from £75,000 and above. Where’s such high profitability coming from? 9-15% monthly, equates to 108-180% annually without considering compound interest. Simultaneously, typical returns are 10-20% per annum. There’s an aroma of a Ponzi scheme in the atmosphere.
| Beginner, £5,000 | Silver, £25,000 | Gold, £75,000 | Premium, £150,000 | VIP, £250,000 |
|---|---|---|---|---|
| Leverage 1:20 | Leverage 1:50 | Leverage 1:100 | Leverage Custom | Leverage Custom |
| Assets: Limited | Assets: Selected Markets | Assets: Limited Access | Assets: All Markets | Assets: All Markets |
| Access Standard Spreads & Swap | Medium Spreads & Swap | Medium Spreads & Swap | Low Spreads & Swap | Low Spreads & Swap |
| Trading Assistance | Trading InvestmentAssistance | Personal Financial Plan | Portfolio Management | Portfolio Management |
| – | – | Minimum guaranteed monthly ROI (Return on investment) 9% | Minimum guaranteed monthly ROI (Return on investment) 12% | Minimum guaranteed monthly ROI (Return on investment) 15% |
| – | – | Bonus 50% | Bonus 75% | Bonus 100% |
- None.
- Inadequate conditions.
- High minimum bar to open the first type of account.
Market Analysis and Education
NFG Finance does have additional features, but they are rather limited. Considering options available to all, these are just the basic details about what financial markets exist – as if traders can’t look this up online themselves. Plus, there’s a FAQ section. Oh yes, not to forget the unneeded market overviews and real-time quotes of popular assets. The broker doesn’t offer any comprehensive educational courses.
Deposit, Withdrawal, and Fees
For financial transactions, system accepts SEPA, Visa/Mastercard bank cards, and Bitcoin. There’s nothing out of the ordinary, but electronic payment systems are missing. Of the cryptocurrencies, only Bitcoin is accepted. Its value could take a 10% plunge while you’re waiting for blockchain confirmation. Notably, the company doesn’t accept USDT, the crypto equivalent of the dollar. Fees for deposits/withdrawals are hidden.
| Features | NFG Finance | ForexLive | Vourteige |
|---|---|---|---|
| Debit/Credit Cards | ✔️ | ❌ | ✔️ |
| Electronic Payments | ❌ | ❌ | ✔️ |
| Crypto Transfers | ✔️ | ✔️ | ✔️ |
| Deposit Fee | ❌ | ❌ | ❌ |
| Withdrawal Fee | ❌ | ❌ | ❌ |
How Can I Contact It?
Email and phone are the sole means to get in touch with managers. There’s a glaring absence of an online chat for immediate communication. The firm is also clueless about social networks. Interestingly, we discovered that the provided email address was a sham.
- There’s a phone number.
- Fake e-mail.
- No online chat or social media.
Is NFG Finance Dangerous?
It appears somewhat dubious that the email address is fake, the broker requires clients to fork out a minimum of £5,000, trading conditions are hidden, and there’s no chance to practice on a demo. Now, let’s delve into more critical aspects to definitively gauge the risk this company may pose to your money.
How Long Does The Broker Work?
Unsurprisingly, our domain check revealed that NFG Finance only came into existence in July 2023. On the official website, the scammers safely ignore the founding date.
Like many other scammers, these guys have already changed their identity and now work on the domain https://www.nfg-finance.com/.
Review NFG Finance Documents: Regulated?
It doesn’t take a genius to suspect that this firm lacks a brokerage license. With a claimed office location in London, it was only fitting to cross-check with the Companies House register. Lo and behold, an organization named NFG Finance does exist. However, numerous discrepancies – a differing address, an inconsistent founding date, and an incompatible business type – suggest a case of identity in another company’s name. It seems these scammers have opted for a popular ploy, adopting a reputable name to lure unsuspecting traders into their web of deceit. The FCA doesn’t know anything about that scam.
| Features | NFG Finance | ForexLive | TheFinancialCentre |
|---|---|---|---|
| European Zone | ❌ | ❌ | ❌ |
| Asian Zone | ❌ | ❌ | ❌ |
| American Zone | ❌ | ❌ | ❌ |
| African Zone | ❌ | ❌ | ❌ |
| Offshore | ❌ | ❌ | ❌ |
Frequently Asked Questions (FAQ)
Kevin Berry It’s almost comedic watching this scam attempt to fool people out of their money. However, considering the sheer number of such fraudulent entities like NFG Finance, it’s clear that there are traders falling prey to these deceitful tales. This, frankly, is disheartening. I genuinely hope no one has invested money here, as it’s an assured recipe for loss. I urge caution in the financial markets and strongly advise thorough due diligence to evade such snares.
NFG Finance rating
5 reviews about NFG Finance
Firstly, what about the license? nfgfinance seems to be devoid of one, which is undeniably a key requirement for any broker. Secondly, the scammers conveniently avoid mentioning their company’s operational duration, a meagre two months in reality. Thirdly, we’re faced with a classic dealing desk, flaunting its true colors. The conflict of interest, legally barred in the US, should be universally forbidden. This counterfeit broker thrives when its clients flounder. Hence, my earnest advice is to steer clear of this dubious entity.
Rest assured, these anonymous swindlers will leave no stone unturned to deceive you, offering no chances of money recovery.
It baffles me how people justify investing in such questionable firms. A colossal minimum deposit of 5,000 pounds? Currently, no reputable firm would demand such an amount. Most start as low as 10 pounds, even offering a demo account, a feature absent here. The website suspiciously omits any mention of licensing. Try probing the FCA register, and you’ll find their absence. A lack of license is a sign of illicit operations.
Maybe I don’t know something, maybe these scammers are luring customers into their trap in some special way. I couldn’t find it in the reviews.
A friend of mine fell prey to a broker eerily similar to NFG Finance. The aftermath? Depleted funds, unbearable stress, a marital split, and financial turmoil. Are you sure you want to do the same with a fake firm?
These con shops are disturbingly numerous. While I struggle to recall the name, I’ve encountered such entities repeatedly. Their websites, trading conditions, and platforms – are eerily identical. My encounter with them sparked an unmistakable sense of déjà vu. I vividly remember the scam site my friend once shared, though the name eludes me. Now, I see an uncanny resemblance in this platform. It screams unabashed fraud.
In my assessment, there’s nothing commendable about NFG. The terms seem concocted by someone who’s clearly unfamiliar with forex trading. Offering leverage of 1:20 on the minimum tier and 1:100 on the maximum – it’s a total reversal of standard practice. The site sidesteps mentioning a demo account and an Islamic account, let alone an affiliate program. Instead, they’ve conveniently included a referral code column during registration. Honestly, NFG resembles a trash bin more than a broker. Its scant presence in online reviews reflects its short lifespan.
NFG Finance is a pathetic parody of a broker, which is engaged in stealing money from traders. Scammers have taken someone else’s name and passed it off as their own. Such people are not to be trusted.