We bring to your attention NLM 86 Limited, a brokerage firm that confidently claims to be registered in the United Kingdom and boasts over five years in operation. The company purports to be founded on three core principles: quality, reliability, and trust. Moreover, it positions itself as a leading provider of trading services without a conflict of interest. While the claims may sound compelling, are they factual? Meanwhile, online reviews are contradictory; there are both positive and negative ones. We have reasons to believe that this firm is a scam, and here’s why.
Table of Contents
Highlights
| 🏛️ Country | United Kingdom |
| ⚠️ Regulation | – |
| 🖥️ Website | https://www.nlm86limited.com/ |
| 🎲 Demo Account | No |
| ⏳ Start Time | 2023 |
| 💲 Minimum Deposit | £100 |
| ⚖️ Minimum and Maximum Leverage | 1:200 |
| ⚙️ Trading Platform | WebTrader |
| support@nlm86limited.net | |
| 📞 Phone | 1-718-488-5710 |
First Impression of Nlm86limited.com
As soon as you land on the official website, NLM 86 Limited offers to join the trade with a 50% bonus on the deposit. Moreover, the Apple logo is displayed against the backdrop of this offer. The website lacks a professional and stylish look, appearing more like a generic, uninspiring template. As you scroll down the main page, you encounter alternating sections that provide details about the company and its trading conditions. Much of this information makes no sense, and many facts are provided without evidence. Clichéd phrases and urgent calls to start trading are immediately noticeable and raise concerns.
The website of NLM 86 Limited suffers from poor optimization, forcing visitors to endure long load times when opening pages or switching languages. Interestingly, the site supports English, Russian, and Polish. Its quality is undermined by various errors and typographical mistakes, for example, “CFds” instead of “CFDs.” The information is interspersed with somewhat irrelevant images of cryptocurrencies and laptops. While there’s a clear attempt to project a sense of style, grandiosity, and modernity, execution falls flat, appearing both cheap and comical.
Partnership and Bonuses
The website lacks any information about an affiliate program, leading one to assume that NLM 86 Limited doesn’t offer one. However, the registration process contradicts it by asking for a referral code, indicating that a partnership program does indeed exist. Notably, the program’s terms and conditions are left unexplained.
Besides a brief mention of a 50% bonus on the main page, the broker provides no further details on the terms or conditions of this promotion. We would like to remind you that such bonuses are not given away freely. Companies like NLM 86 Limited may advertise bonus capital, but these offers typically come with specific requirements. For instance, traders might need to reach a particular trading volume before they can withdraw bonus funds. These conditions are often unrealistically stringent, leading many clients, especially those new to trading, to lose their deposits before they can achieve the required volume.
Account Opening on Nlm86limited.com
Creating an account with NLM 86 Limited is a straightforward process. The broker requires basic information such as email, phone number, name, country of residence, and a referral code. Following this, users need to set up a password, complete a recaptcha verification, and agree to the terms and conditions. Interestingly, we discovered a user agreement within the registration form, which was not otherwise available on the website. Why this important document is only available at this stage is puzzling.
The personal account interface is quite rudimentary, offering basic functionalities such as editing personal information, changing passwords, viewing trading history and referral statistics, making deposits and withdrawals, submitting KYC documents, and accessing the web trading platform. Surprisingly, NLM 86 Limited does not provide the option of a demo account, leaving users with no opportunity to practice trading or familiarize themselves with the platform using virtual funds.
Verification
The absence of any sections or documents on the website dedicated to verification procedures is a significant oversight for NLM 86 Limited. As a result, it remains unclear whether traders are obligated to complete the KYC (Know Your Customer) process. However, documents for verification can be uploaded through the personal account portal, where users simply need to select the type of document and then point to the file location on their computer.
- None.
- Do not disclose verification information.
Trading Software
NLM 86 Limited’s trading platform is rudimentary, offering scarce tools and lacking options for customization. Traders won’t find functionalities for uploading custom indicators or pre-configured templates. Moreover, it lacks advanced features like auto-trading, strategy backtesting on historical data, copy trading, market depth analysis, and scalping capabilities. On the brighter side, the platform does offer essential elements of technical analysis, as well as market and limit orders, basic trading indicators, and multiple timeframes. Clients also have the flexibility to create a list of favorite trading assets, open charts in separate windows, and switch the interface language.
The firm claims numerous advantages of the platform on the official website, but we didn’t notice even half of what was listed. One can’t ignore the absence of a mobile version of the terminal that could be downloaded from the App Store and Play Market. It seems that NLM 86 Limited has not prioritized the needs of traders, settling for a trading platform that is both low-functional and uncompetitive. They could have at least offered MetaTrader as a credible alternative, given its leading position in the realm of popular trading platforms.
| Features | NLM 86 Limited | GoldberryCo | FXChoIce |
|---|---|---|---|
| Demo Account | ❌ | ❌ | ✔️ |
| Mobile App | ❌ | ❌ | ✔️ |
| Own Development | ❌ | ❌ | ❌ |
How Can I Trade With NLM 86 Limited?
NLM 86 Limited provides the opportunity to trade a wide variety of more than 100 assets, including forex, commodities, stocks, indices, metals, and cryptocurrencies. The platform has a minimum deposit requirement of £100. However, if a client desires additional services, they would need to opt for a more premium plan, which entails a higher initial deposit.
All Info About Accounts
Customers at NLM 86 Limited can choose from four different trading accounts and one investment account. The first type of account includes daily news and a trial period of joint trading with an analyst for 5 working days. The additional features of the first plan for £100 end there. However, after 5 days, the beginner trader won’t have access to any additional features beyond the daily news. The second type of account requires a minimum deposit of £5,000 and offers additional perks such as access to webinars, reduced commission fees, and weekly CME reports.
It’s important to highlight the significant difference between the first and second types of accounts, both regarding the services offered and the minimum deposit required. Why do beginners at NLM 86 Limited get almost nothing? Is this approach discriminatory against those who can’t afford a £5,000 deposit? Furthermore, even those who can afford the second type of account don’t seem to get much value for their investment. Are CME Reports truly an advantage? If you didn’t know, anyone can view CME data on the official exchange website at any time.
More expensive plans offer a bag of features, including participation in IPOs, copy trades, a trading plan, PAMM, arbitration, professional investor accreditation, an introduction to over-the-counter investments, and account insurance. However, several questions arise from this. What exactly does NLM 86 Limited mean by “arbitration”? How can trade copying be facilitated when the platform lacks this capability? Which company is responsible for providing account insurance? A million questions, zero answers. The broker seems to just cram in as many privileges and advantages as possible. We hoped no one would fall for such an implausible offering.
The “Savings Account” feature raises immediate red flags about it being a “financial pyramid scheme.” How does NLM 86 Limited justify offering a monthly yield ranging from 21% to 37% to investors? Most countries legally prohibit offering fixed-interest income, so how can they make such a claim? It appears we’re dealing with a dual concern here: not only a dealing desk with inherent conflicts of interest but also a potential financial pyramid scheme. Two in one.
- None.
- Newcomers do not receive any privileges.
- Important trading conditions, such as spreads and commissions, are not specified.
- Islamic and demo accounts are not available.
Market Analysis and Education With Nlm86limited.com
The official website has a small window with online quotes. Also, NLM 86 Limited provides users with fresh news and educational resources about asset classes. There are no ready-made training courses, as well as fresh analytics. Very poor analytical and educational service.
Deposit, Withdrawal, and Fees
There is no separate section dedicated to money transactions. Judging by the icons at the bottom of the page, NLM 86 Limited supports Visa/MasterCard, SEPA, and Bitcoin transfers. Commissions are not mentioned.
| Features | NLM 86 Limited | Oanda | IC Markets |
|---|---|---|---|
| Debit/Credit Cards | ✔️ | ✔️ | ✔️ |
| Electronic Payments | ❌ | ✔️ | ❌ |
| Crypto Transfers | ✔️ | ❌ | ❌ |
| Deposit Fee | ❌ | ❌ | ❌ |
| Withdrawal Fee | ❌ | ✔️ | ✔️ |
How Can I Contact It?
There are several ways to contact the managers of NLM 86 Limited. The company provides a phone number and email address. Also, users can leave a request with a message for feedback. The office address is listed as a UK address.
The inconsistency struck us that although this is a British broker, it has a phone number based in New York, USA. Further investigation revealed that the same phone number has been listed on the websites of other companies, such as Medifinance and TheHotFx. What’s more, the provided email address turns out to be non-existent. It raises several questions about the NLM 86 Limited’s legitimacy.
- None.
- Mass phone number.
- Email doesn’t exist.
Is NLM 86 Limited Dangerous?
Upon reviewing the various points we’ve analyzed earlier, it becomes evident that NLM 86 Limited is likely a scam. While the nonsensical trading conditions might be somewhat justifiable, there’s no explaining away the fake phone numbers and email addresses. Additionally, a generic website with sparse information is another glaring red flag. We’ll further investigate the company’s operational history and licensure to definitively unmask this scam.
How Long Does The Broker Work?
The company boldly states that it has been in operation for more than 5 years, yet its domain registration date is only as recent as July 11, 2023. Did NLM 86 Limited operate for so many years without an official website? That’s laughable. The broker fails to furnish any proof to back up its claims of a long-standing operational history.
The name NLM 86 Limited appears in the United Kingdom’s registry of legal entities. However, it seems to be a completely different entity, as neither the legal address nor the contact details align with the company we are investigating. It raises suspicions that scammers have appropriated a legitimate name to set up a fake brokerage platform. Why? To deceive potential clients and then extort money from them.
How Is NLM 86 Limited Regulated?
The company lacks a brokerage license, and the UK’s Financial Conduct Authority (FCA) has no information about this broker. Although the official website offers support in English, Russian, and Polish, financial regulatory bodies in Russia and Poland have not issued any licenses to NLM 86 Limited either. As a result, the organization is operating illegally.
| Features | NLM 86 Limited | TheFinancialCentre | Geetle |
|---|---|---|---|
| European Zone | ❌ | ❌ | ❌ |
| Asian Zone | ❌ | ❌ | ❌ |
| American Zone | ❌ | ❌ | ❌ |
| African Zone | ❌ | ❌ | ❌ |
| Offshore | ❌ | ❌ | ❌ |
Frequently Asked Questions (FAQ)
Kevin Berry It’s immediately apparent that NLM 86 Limited is engaged in the extortion of funds. Take, for instance, the pop-up offering a 50% bonus when you access their website. Is this something a secure and trustworthy Forex partner would do? Moreover, the firm hasn’t furnished any evidence to support its claimed operating experience or the existence of a UK-based office. Instead, these fraudsters are disseminating a lot of misleading and false information to potential clients. How could there not be a conflict of interest when they operate under a Dealing Desk business model? Do these scammers think traders are fools? The lack of a license, a short operating period, attempts at deception, and much more serve as blatant indicators that NLM 86 Limited is an outright scam.
NLM 86 Limited rating
3 reviews about NLM 86 Limited
Read the reviews before you sign up for an account with nlm 86 limited. You will be surprised how many negative reviews there are on the internet. People are offered bonuses, they agree, and then can not withdraw the money because of conditions that can not be met. The minimum deposit here is 100 pounds, while other brokers offer to start trading from 10 pounds. There is no demo account here. So there are a lot of minuses and disadvantages of scambroker. I do not recommend nlm 86 limited..
I can’t understand how traders can fall victim to this fraud scheme. NLM 86 Limited belongs to the shady category of scambrokers. They are real scammers who have appropriated a brand name that was registered in England back in 2017, using it to lure people into parting with their money. How can this be acceptable? The fraudsters operate without any licenses, and their platform is an outright fake. The quotes and liquidity are also fake; there’s absolutely nothing genuine in NLM 86 Limited. The situation is worse than a casino, because at least in a casino, you might be able to withdraw your money. Here, you won’t be able to cash out even a single penny.
If you attempt to ask these scammers for their registration documents or any guarantees, they will likely not respond. Worse, they’ll probably block you for unraveling their deceitful operation. These swindlers specifically targeted financially uninformed individuals, easily misleading them to extract as much money as possible. There’s nothing reputable or secure about NLM 86 Limited.
What was I thinking when I decided to get involved with NLM 86 Limited? I had assumed it would be a reliable brokerage, one that would give me a safe platform to trade and earn money. How gravely I was mistaken.
I signed up, took a tour of the platform, and liked what I saw. When I requested to deposit funds, they provided me with a Bitcoin address. The fact that it was a disposable crypto wallet didn’t ring any alarm bells. Moreover, I didn’t notice or care that they lacked a demo account.
With high hopes for future profits, I deposited £1,000. I had envisioned a life where I could work from home, be my own boss, and trade freely. However, this dream quickly shattered when I attempted my first withdrawal.
I submitted the request, and NLM 86 Limited took no action. Literally, nothing happened. More than two weeks have passed, and I’m still without my money. My inquiries are being utterly ignored. Their email address doesn’t even exist, just fake. I reached out through a special contact form, hoping to hear back from them, but to no avail.
I’m down £1,000, no small sum for me. I hope this review saves someone else from losing their hard-earned money.