NetMarkets (Netmarkets.com) is a CFDs and Forex scam broker to hit the lucrative Forex world. Net Markets is purporting to be a trusting partner in trading Forex. NET MARKETS is claiming to be a global company which is far from the case. Complaints have been sent to us by users who have been conned by NETMARKETS. Read this detailed and honest review of NetMarkets and finds out the whole truth!
Due to the numerous complaints we received, we simply had to investigate this broker. Most of these complaints were based on lack of withdrawal opportunities. There’s more to this broker than anyone previously thought. What NetMarkets is up to is no good news for any expert or newbie investor. This review is meant to shed light on the rotten scam practice that is happening with this broker.
Newbie traders are always enticed by what they read on most websites. Scammers know that we all want to make a quick buck or two. They take advantage of this scenario by claiming to offer a way out. What these scammers do is promise to make money using fast and quick means. Don’t be another victim of NetMarkets and make sure you read this review before signing up. Here’s the damning truth regarding the world’s biggest scam broker.
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According to the disclaimer at the footer of their homepage, Net Markets is owned by One Market East LLC. Disclaimer also points out that this firm falls under the laws of incorporated in Belarus. It should be noted that scammers will do or say anything to get users hooked to their product. These scammers have left vital information on the homepage regarding real ownership of this platform.
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Why have they failed to mention the CEO or CFO of their mother company? Don’t you agree that you should know who your money goes to? Failure to disclose this vital information means that they are hiding something. Anonymity is a dangerous character to associate with in any type of investment. This is the first red flag that we spotted with Net Markets. When it comes to ownership, they hide this vital information.
Scammers will post anything just to make their product or service appear legit. Net Markets claims to have a Belarus registration number 19817451. If they had been legally registered, which regulatory body issued this number? A real broker will give details as to which regulatory body issued registration. That’s not the case with Net Markets, it’s clear that we are dealing with a rogue Forex broker.
A real broker will also post registration certificates and documents to back up their claims. Why hasn’t this broker posted any documents to prove authenticity? NET MARKETS is not licensed or regulated by any known financial institution body in Europe or beyond. This means that we are dealing with an unauthorized broker. Net Markets has no authority to conduct any Forex business on behalf of third parties.
According to their platform page, this broker offers MT4 trading platform. They have a mobile MT4 app, WebTrader MT4, and a desktop MT4. They continue to claim that their platform will give users access to over 300 trading instruments. Claim that this platform has advanced capabilities remains to be seen. To test their platform, we had to download it to our devices for further testing.
And this is where we spotted our next huge red flag. Download stalled at 57% which spells doom for anyone who uses this platform. It means that their platform us highly unstable and open to cyber-attacks. This platform will leave users open to hacking challenges due to its unstable nature. Hackers find unstable platforms breeding ground for credit card theft. That’s not all, your personal data can be stolen by hackers using unstable platforms.
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When it comes to depositing money with Net Markets, that’s the only thing these scammers got right. Users can use two available options to deposit money with Net Markets. MasterCard and Visa are the only options available to fund your account with NETMARKETS. This is not a good reason to sign up with them. There’s more than meets the eye with this broker, let’s us explain the downside.
When it comes to withdrawing money with Net Markets, here’s where the main challenge lies. According to most users, they have been able to withdraw their money with this broker. Reasons given to them are lame and this is what makes NetMarkets a Forex scam. Users are told that they haven’t reached the minimum trading volume to warrant withdrawal. Folks, this is straight out of the scammer’s manual book. They bluntly refuse to allow withdrawal!
How can funds be safe with a broker who refuses to allow members to withdraw their hard earned money? Furthermore, this broker fails to give users vital information regarding how the transactions take place. Why have they failed to mention their banking partner? Where do they bank money deposited by users? This is another scary fact with NetMarkets. Did you know that users maybe depositing money straight to owner’s personal bank account?
Another disturbing feature with this broker is that they don’t segregate accounts. What this means is that they are pooling funds in one account. This is a dangerous practice that leads to losses in case of bankruptcy or insolvency. Also, this broker does not participate in a compensatory scheme. In case of bankruptcy or insolvency, don’t expect any compensation from this broker.
This broker has gone a step further into rigging their demo account. Demo account is rigged in favor of users which is a bad thing. Their demo account makes over 90% successful trades which is a marketing gimmick. They have done this in the hopes that users will believe that they will mirror the same results. Once users open a real account, things are totally different as demo accounts wins are not mirrored.
Folks, this it’s clear we are dealing with a professional scam outfit. What these scammers want is for users to sign up with them and later shut down this website. Don’t become another victim of and resist any calls to sign up. Having a rigged demo account is proof enough that these fraudsters will do anything. Plus, their demo account interface sucks as it has no user friendly interface.
NetMarkets is simply a made-up fake brokerage firm that wants to steal from traders. From the level of anonymity to having rigged demo accounts, this is surely a scam. Make sure to mark all their emails as Spam and never click on any links sent by them. It has come to our attention that these links contain malicious malware. This malware is used to steal credit card information as well as personal data.
NetMarkets is a scam that has to be stopped immediately with the help of authorities. On our end, only option we have is to add this broker to our scam blacklist. Ensure you warn your friends and relatives from signing up with this broker. Authorities will help if they shut down this website and help safeguard newbie Forex traders. Make sure you never sign up with this broker, you have been warned.
On all occasions, sign up with Relevant and Reliable Forex brokers at all times. An Authentic and Formidable Forex broker is what you need to make Real money. Genuine Forex brokers have been Tested and are Trusted by the Forex trading community. Don’t be left behind, sign up with industry top rated Forex brokers today. This is a proven way of making real money trading Forex.
Finally, ensure you always remain safe with any online investment opportunity, wish you all the best.
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