News-Traders (News-traders.com) is another crude Forex trading scam platform ripping off anyone who signs up. NewsTraders is openly stealing from anyone who signs up for no apparent reason. And this is what makes trading with this platform a ride straight from hell. Most members are ruing signing up after having their accounts closed for no reason. Want to know more? Read this genuine and honest NEWS-TRADERS Review for more details.
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After receiving hundreds of email complaints from members of this platform, we decided to investigate. How can over thirty members be complaining of the same issue? Dealing with these illicit platforms is the leading cause of investors being swindled. To make the matter worse, News-Traders is an offshore based trading platform. These scam artists have cloned this website and signed up people with no credible experience. No one knows whether the people running this platform are experienced brokers.
Scam artists are known to create visually compelling websites in an effort to entice unsuspecting investors. It seems to be working with News-Traders as they have been able to solicit funds from investors. We feel it is our duty to protect the good Forex trading name by exposing these rogue platforms. Thanks to our years of trading experience, we know how to spot a scam from a mile away. Get to know the tricks used by scam artists to steal funds from investors without breaking a sweat.
According to details posted on their contact page, News-Traders is based in St. Vincent and the Grenadines. By their own admission, they openly reveal that they are offshore brokers. Offshore brokers are notoriously known for flaunting set regulations and rules. Stay away from these rogue platforms as no one will protect you once you deposit funds. A problem with offshore brokers is that they don’t actually safeguard your interest. They can close shop at any given time.
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Another problem with this platform is lack of credible information regarding ownership. Who are the actual owners of this website? Is it possible to know the names of the founding members? Who are the people running this website and why haven’t they posted their actual names? Now you know why you should stay away from this and any other online anonymous platform.
After checking their terms and conditions, it is clear NewsTraders is not licensed or registered. A licensed entity will have solid proof of their registration on their website. If you look at their entire website, there is no information regarding their license status. We also checked with various online regulatory bodies to check their license status. Some of the bodies we contacted include ASIC, COSNOB, CySEC, FCA, NFA, and SEC. None of these bodies has ever heard of this platform.
What about posting copies of their license for members of the public to see? News Traders does not post any documents since they are not dully licensed. You can also note their homepage does not have any registration number at the footer of the page. With this concrete proof, we are sure they are offering illicit trading services. No one is safe from this platform as they are simply out to steal funds. Investors are not protected and their funds are stored in a private or personal bank account.
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Any investor who signs up with this platform should expect a rough trading period. Stay away from these scam artists who are based offshore. Another issue we have with News-Traders is in regards to unsecured website. No sane broker can create a website and not use proper security features. .
News-Traders is furnishing users with four different account types to choose from. Investors can choose to have Classic, Gold, Platinum, and VIP. These accounts are used to entice users into believing this is a legit platform. They even have different depository requirements to target different classes of investors. Some of the features posted are not available such as video tutorials.
Account funding is well covered as users can pick between six depository channels. They include American Express, Maestro, MasterCard, Skrill, Visa, and Qiwi Money. Depositing is easy and it takes less than five minutes. A huge problem with this platform still remains users not being able to withdraw funds. What these scam artists are doing is stealing funds from members once they deposit. How can you offer a trading website and fail to allow members access to their funds?
According to information on the website, the platform uses MT4 trading platform. Whether this is true or not, there are questions we need answers to. Is it possible users are finding it difficult to trade with an unstable platform? We can’t verify why this platform is still in play with such illicit platforms. A platform with no SSL Encryption will put all users at risk of being scammed. Whoever signs up with this platform should be ready to face hackers who target unstable platforms.
Another problem with News-Traders is not having a responsive live chat. Once you send an email asking for how to deposit, respond is in record time. Withdrawing funds still remains the biggest challenge with this platform. Make sure to check whether a platform allows members to deposit funds.
Funds are not safe with a platform which has no valid security setup. Segregation of accounts is also another problem as News-Traders is pooling funds in one account. And we have a feeling they will cash out once they have their pockets fill. Stay away from this platform as they don’t insure funds stored in their account.
Evidence clearly shows we are dealing with a rogue platform. Stay away from this and any other platform with such characteristics. Proof of News-Traders is a scam is enough to ensure you stay away from this platform. Whatever you do, ensure you ignore all calls from their agents. Mark their email as spam and never click on any links sent. Warn your family and friends from signing up with this platform.
We will be adding this platform to our scam blacklist to protect our readers. .
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Wishing all investors a happy and prosperous trading period.
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