Can you trust a broker who claims guaranteed security of funds, boasts 20 years of operation, and has a headquarters in the United Kingdom, yet fails to back up these advantages with any proper licensing? Naturally, you must verify all information because it could easily turn out to be a scammer eager to deceive you out of your money. Reviews don’t provide the full picture, so we’ve delved into a detailed investigation of Nicholson Financial Service.
Table of Contents
Highlights
| 🏛️ Country | United Kingdom |
| ⚠️ Regulation | – |
| 🖥️ Website | nicholsonfinancialservice.com, https://www.nicholsonfin.vip/ |
| 🎲 Demo Account | No |
| ⏳ Start Time | 2023 |
| 💲 Minimum Deposit | £100 |
| ⚖️ Minimum and Maximum Leverage | 1:200 |
| ⚙️ Trading Platform | WebTrader |
| support@nicholsonfinancialservice.net | |
| 📞 Phone | +442080971677 |
First Impression of Nicholsonfin.vip
Upon visiting this website, you’re greeted with an inspiring call to action: take control of your finances and start trading today. Set against the backdrop of a mountain, the image seems to symbolize the obstacle that the fraudsters encourage you to overcome. As you browse further, the site repeatedly urges you to deposit funds right away, to change your life for the better, and to begin working towards your financial future. Scammers often play on emotional triggers, rushing their victims into hasty and ill-considered decisions.
The site’s design appears generic and monotonous. Gone are the beautiful images and landscapes, replaced with standard sections and minimal statistics. Claims boast that 1.2 million transactions have been conducted through the platform; more than 3000 deals are processed per minute, and 99.9% of clients are satisfied with the platform. Well, we’ll take Nicholson Financial Service’s word for it.
Partnership and Bonuses
The firm provides no details about its affiliate program. However, after registering an account, you can find a referral code in the personal dashboard, hinting that clients may earn money by inviting others to Nicholson Financial Service. Surprisingly, bonuses are absent. Considering that the affiliate program isn’t explicitly mentioned but does exist, we assume the situation with bonuses may be similar. Either they are offered when depositing funds, or a friendly phone manager might pester you to activate a bonus.
Account Opening on Nicholson Financial Service
To open an account, you must provide personal information (first name, last name, email, phone, country, password, promo code, and account type).
The personal dashboard at Nicholson Financial Service appears in its most basic and primitive form. It offers standard options such as editing personal details, uploading documents for KYC, replenishing the balance, viewing orders, and transaction history. From the dashboard, one can access both the mobile and web platforms.
Verification
From the main page of the official website, it becomes clear that clients must verify their identity before depositing. In other words, identity verification is mandatory. The process is carried out through the personal cabinet, in the designated section where you can choose the type of document to upload. If a bank card is used for the transaction, the broker will require photo evidence to ensure the card belongs to the trader.
- Uploading documents is a convenient process.
- Verification of identity is required.
Trading Software
Regarding selecting a broker, the trading platform plays a significant role. Today’s market offers a vast array of advanced and multifunctional trading software. However, Nicholson Financial Service falls short in this regard, providing traders with a rather lackluster trading terminal. Their platform severely limits the available tools; for instance, only basic indicators, essential graphical elements for technical analysis, time frames ranging from 5 seconds to a month, a few chart types, and basic market and limit orders are accessible.
Notably missing are crucial features like trailing stops, open interest, horizontal volumes, and other vital tools that seasoned traders might expect. This limitation becomes even more apparent when considering the platform operates only as a browser version on mobile phones, without the availability of a dedicated app that can be downloaded from the App Store or Play Market. The restricted functionality and absence of modern conveniences make the platform appear ill-suited to meet the demands of today’s trading environment.
| Features | Nicholson Financial Service | IC Markets | Gainful Markets |
|---|---|---|---|
| Demo Account | ❌ | ✔️ | ❌ |
| Mobile App | ❌ | ✔️ | ❌ |
| Own Development | ❌ | ✔️ | ❌ |
How Can I Trade With Nicholson Financial Service?
Trading is restricted to CFD contracts across major market classes, including cryptocurrencies. The trading conditions stipulate a minimum volume of 0.01 lots and a leverage ratio of 1:200. However, the publicly available information provided by the company ends there. Key details might be vital to traders, such as the size and type of spreads, commissions, and swaps, which are conspicuously absent from their offerings. The firm has deemed such information unnecessary for their clientele.
All Info About Accounts
At Nicholson Financial Service, customers can choose from four different trading account types and one investment account. The initial tariff begins at £100 and includes access to market news and a 5-day trial period working with an expert from the broker. However, the offering is rather scant, as once the 5-day trial period expires, the client gains no further benefits from its tier.
The next account type starts at a significantly higher threshold of £5,000, creating a substantial gap between the first and second tiers. This disparity may raise eyebrows for potential customers. Holders of the “Commodities” account type receive webinars, reduced commissions, access to CME reports, and specific contracts. Considering CME reports are freely available on the stock exchange’s website, the only real privileges in this tier are the improved conditions and webinars, and it comes at the cost of £5,000.
The higher tiers, starting at £25,000 and £75,000, offer more appealing features such as access to IPOs, PAMMs, development of personalized plans, insurance, arbitration, and other opportunities.
The firm leaves much to be desired regarding transparency concerning its provided features. For instance, details regarding access to IPOs are not provided, leaving potential customers to wonder about the specific conditions, commissions, and lock-up periods. Similarly, the company fails to define what is meant by ‘arbitration’ and does not disclose who provides the insurance. In short, these vague descriptions raise more questions than answers, leaving clients in the dark about crucial aspects.
The investment opportunity offered by Nicholson Financial Service claims to provide monthly returns ranging from 21% to 37%. This immediately raises red flags, suggesting the possibility of a Ponzi scheme. First, the enormous interest rate is many times higher than normal. Second, the company promises a fixed and guaranteed percentage of return. However, there are no explanations provided as to how such profitability is possible, of course.
- The starting deposit is low.
- For the initial tariffs, there’s a limited selection of additional tools.
- The signs of a Ponzi scheme are evident.
- Key parameters, such as spreads and commissions, are not specified.
- Absent are demo and Islamic account options.
Market Analysis and Education With Nicholsonfin.vip
In addition to the previously mentioned features, Nicholson Financial Service offers several complimentary tools. Clients can access online quotes from TradingView, learn about different asset classes, and find answers to frequently asked questions (FAQs).
Deposit, Withdrawal, and Fees
Depositing funds requires a request for a specific amount, after which a company manager contacts the trader. Money can be transferred through banks, credit/debit cards, or digital currency. There’s no information about commissions, likely to be explained by the manager during a phone conversation, who may also attempt to persuade the potential client to invest more. This practice is considered inappropriate and absurd.
| Features | Nicholson Financial Service | Luzuna | Alliance Reserve |
|---|---|---|---|
| Debit/Credit Cards | ✔️ | ✔️ | ✔️ |
| Electronic Payments | ❌ | ❌ | ❌ |
| Crypto Transfers | ✔️ | ❌ | ✔️ |
| Deposit Fee | ❌ | ❌ | ❌ |
| Withdrawal Fee | ❌ | ❌ | ❌ |
How Can I Contact It?
Users can contact representatives of Nicholson Financial Service via phone and email, the details are provided on the site along with a special feedback form. Phone number verification yielded no results, and there’s an interesting issue: the email listed on the site does not exist.
- None.
- The specified e-mail address does not exist.
- Social networks and online chat are not available.
Is Nicholson Financial Service Dangerous?
It currently appears insecure, suspicious, and negative. The trading conditions seem neither reasonable nor loyal, and the dull and generic design further fuels these impressions. Using a fake email address is completely out of line. The following will analyze the most important details of the company’s activities.
How Long Does The Broker Work?
Nicholson Financial Service boldly claims that it started operating in 2003. Well, it is not true, and here’s why. The domain of the website was only registered in July 2023, and the first mentions of the company appeared around the same time. In the FCA and Companies House registers, there is an organization with the same name, but it has no relation to the entity located on the website nicholsonfinancialservice.com.
In our practice, we have repeatedly met cases of moving the site to another domain. This happened here too: now the dubious broker is available at https://www.nicholsonfin.vip/.
How Is Nicholson Financial Service Regulated?
Well, it is not regulated at all. On its official website, the company does not even mention any licenses, and in the FCA register, which is responsible for British organizations, there is an entirely different firm that has been imitated and counterfeited by the scammers to create their parody.
| Features | Nicholson Financial Service | Vantage Markets | FXChoice |
|---|---|---|---|
| European Zone | ❌ | ✔️ | ❌ |
| Asian Zone | ❌ | ❌ | ❌ |
| American Zone | ❌ | ❌ | ❌ |
| African Zone | ❌ | ❌ | ❌ |
| Offshore | ❌ | ✔️ | ✔️ |
Frequently Asked Questions (FAQ)
Kevin Berry Cunning move, con artists! Imagine taking the name of an established company that’s been operating in the United Kingdom for 20 years, then creating a website using its name and track record, all to lure people into making deposits with promises of profitable and safe trading. However, the scammers’ attempt to create a convincing façade fell flat. From the very beginning, there were hints and suspicions that Nicholson Financial Service was nothing more than a run-of-the-mill scam and a fake platform. And indeed, that’s exactly what it turned out to be. Steer clear of the sham brokerage – it’s a parody of everything a trustworthy broker should be.
Nicholson Financial Service rating
3 reviews about Nicholson Financial Service
Hello there! I haven’t traded with Nicholson Financial Service, and I don’t intend to. My trading experience is enough to see the company for what it is – a classic scam and fraud operation. In my review, I’d like to highlight something particularly insidious: the management of this fraudulent scambroker actually pays for positive reviews. If you see any glowing feedback online, know those comments are bought, fake, and utterly untrustworthy.
The sad reality is people have entrusted their money to this scheme, only to lose it forever. These scammers will be all smiles and friendly gestures until you make a deposit. Once they have your money, that’s it. They’ll forget about you, start ignoring you, and you’ll be left tearing your hair out, regretting your foolish decision.
I must stress this again – do not trust them. Don’t believe the positive reviews about the firm. They are all fabrications and lies. It’s a trap, and you would do well to steer clear of this deceptive game. The truth behind the facade is far uglier, and the only thing waiting for you there is loss and disappointment.
The broker is refusing to give me my money back. I invested over $2,000 here, transferring it through the cryptocurrency bitcoin, simply because my manager told me it was the quickest and cheapest way to send money. How naive and foolish I was to trust these swindlers! The trading here turned out to be fake, the charts were also fake. The trades don’t go through ECN or liquidity providers, and you’ll often find huge shadows in the charts, swinging in different directions, knocking out your stop-loss.
I quickly realized trading with nicholson financial service was impossible, so I applied to withdraw my funds. Or, to be more precise, I tried to figure out how to do so. I provided my bank details for the withdrawal, but since I had made my deposit through bitcoin, it seemed logical that I should also withdraw via bitcoin. Trying to get in touch with my manager has been a fruitless endeavor; he simply refuses to respond to my attempts at contact. Trading here has not yielded the desired results, and I can’t even withdraw my money.
Most likely, I’ll have to forget about money. It now belongs to these fraudsters. So, let my experience be a warning to you: do not invest here, or you will find yourself in a situation much like mine – a trap with no escape, deceived, frustrated, and out of pocket.
Nicholson Financial Service is entirely illegal! Stop, don’t fall for the con artists! They lie to lure you and your money in! Trade only with companies that have proper licensing, and forget about firms like this one. This is a rogue broker, and trusting them could lead to significant financial peril.