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NewCFDs Review – Don’t Join Brokerage Scam

Jul 19, 2021
NewCFDs Exposed Scam Broker

NewCFDs was a hard one to review since the website is available in French and Italian only. Yet, it tells us who the main targets of this fraudulent broker are.

To ensure you have all the possible information before starting an investment account, read our honest NewCFDs review.

Broker status:Unregulated Offshore Broker
Regulated by:Unlicensed Brokerage (Illegal Broker)
Broker Owner:PRO – S.M. Ltd
Headquarters Country:Saint Vincent and the Grenadines
Foundation year:2020
Trading Platforms (Trading Software):WebTrader
NewCFDs Minimum Deposit:$250
Cryptocurrencies (Crypto Assets):Available (BTC, ETH, XRP)
Available Trading Assets:Cryptos, Forex (FX), Indices, Commodities, Stocks
Maximum Leverage:N/A
Islamic Account:Not Available
Free Demo Account:Not Available
Accepts US clients:Not Accepted

NewCFDs Regulation and Licensing Details

NewCFDs is a brand of PRO – S.M. Ltd, a company coming from Saint Vincent and the Grenadines. Considering that this country is offshore and the regulator itself stated that their license means only permission to establish a company, we decided to check what about company regulation.

Questions to NewCFDs License and Regulation

First of all, we’ve checked is NewCFDs regulated anywhere in the FSA SVG register. And there’s no mention of the company. Since the website is in French and Italian, we’ve checked AMF and CONSOB as well. Same result.

It looks like NewCFDs as well as Solid Marketz is not trying too hard to hide the fact it’s running a cyber fraud.

NewCFDs Reviews – The Truth About Forex Broker

Checking NewCFDs reviews, we’ve discovered that the broker has no limits. Usually, it happens that offshore broker is running some kind of a scam, but this scam went a step further in the case of the NewCFDs broker. The company offers an automated trading system, virtually promised $100 per day. However, once you invest a minimum of $250, it turns out that software cannot work with such a low amount, so you’re being prompted to add more money. 

Stay away from the NewCFDs scam & avoid fraudulent brokers like JustForex or LPL Capital.

NewCFDs Platform Review – Available Trading Software

Speaking of offshore brokers, we are already used to see low-quality trading conditions. The broker trading platform consists of a WebTrader that reminds a lot of an MT5. However, having MT5 software is always a better option since it’s safer.

NewCFDs App – Is Mobile Trading Available?

As any web trader, this one is available for mobile phones as well. Whether you have an Android or an iOS, you can simply use any web browser and visit your trading account.

There is also a mobile app that can be used the same way as a WebTrader and downloaded from the link on the platform.

NewCFDs Trading Assets

Assets You Can Trade With Broker

The broker offers trading with currency pairs, commodities, indices, shares, and cryptocurrencies. There are:

  • 6 most popular cryptos
  • S&P 500, NASDAQ, Dow Jones, and JPN 225
  • Gold & Silver
  • Major currency pairs, plus some of the minors
  • Amazon, PayPal, Puma, Tesla, and other significant shares

Yet, some primary trading conditions are not listed anywhere.

NewCFDs Deposit and Withdrawal Methods

NewCFDs minimum deposit is $250 for the Standard account. The broker offers depositing via credit card, as well as withdrawals. This is a preferred payment method with suspicious transactions since you have up to 540 days to request a chargeback if something goes wrong.

We couldn’t find a list of fees and commissions required by the broker for such transfers.

NewCFDs Withdrawal Issues – Traders Complaints

Since conditions are not clearly disclosed, no wonder there are so many withdrawal issues. Clients complain about the broker deducting random amounts each time they wish to deposit the money, while withdrawals are never an option.

The request will never be processed, and clients won’t get their money back.

Scammed by NewCFDs broker? We Can Help!

If you were scammed by a NewCFDs broker or any other illicit forex company, please let us know. Global Fraud Protection recently received numerous complaints about such companies and we can help you out. Tell us your story and we will guide you through the chargeback procedure. 

 Contact us via chat now to book a free consultation.

Don’t Let the Scammers Go Away for Free!

What is NewCFDs, and Should I Invest Money in it?

NewCFDs is an online trading company that has no regulation. Therefore you shouldn’t invest your money with them.

Is NewCFDs regulated and licensed?

This brokerage company is not a regulated or licensed, so avoid it at all costs.

Are My Funds Safe with NewCFDs?

No, your funds are not safe with an illegal offshore broker such as NewCFDs.

Does NewCFDs Have a Mobile Trading App?

Yes, broker does have a mobile app, and there’s a link to download on the website.