Nexospro is a stereotypical scam with a faulty website and not-so-believable lies. The newly registered fraudulent site didn’t last too long. Considering it’s already out of function, we can only assume the cheater has run away with the funds they stole from their clients.
With the plan to convince new users to invest as soon as possible, Nexospro presents itself as a legal brokerage company from the UK. You can quickly see right through the lies, though. As soon as we previewed the Terms and Conditions, we found out several disturbing things.
First off, the owning company of the Nexospro website is the notorious Cordelino LTD. This SVG-based broker firm of ill repute is also the owner of BTC-trends.com. Spanish regulator CNMV has warned the public about the bogus website that was shut down soon after.
Considering that the Nexospro site has also been inactive since recently, Cordelino LTD doesn’t seem to be handling its business well. Read our Nexospro review entirely to get the gist of the grand scamming scheme.
|Domains||Nexospro.Com – InactiveBtc-Trends.Com – Inactive|
|Regulation||Unregulated offshore broker|
Is Nexospro a Scam? Fund Security and Regulation
It can’t be more clear that Nexospro is another unlicensed offshore broker with scamming tendencies. Their owning company is a famous fraud from SVG, an offshore zone harboring many shady businesses.
The financial authority of SVG decided not to engage in regulating and supervising brokerage activities in that jurisdiction. This created safe grounds for scam projects to bloom. Crodelino Ltd is just one among many phony brokers registered in the area.
However, we still decided to investigate Nexospro’s regulatory status. The UK address implies the broker is overseen by the UK financial watchdog – FCA. Regrettably, their register of brokers doesn’t include Nexospro. Our fake broker here doesn’t have the authorization to sell their products and services to UK residents.
What’s worse, Nexospro does not hold a license from any other financial entity. We can confidently say this after checking several more databases. BaFin, AMF, ASIC, CySEC, FINMA, and CONSOB, none of them have allowed Nexospro to operate in their respective jurisdictions.
Without a permit to run their brokerage business, Nexospro cannot provide segregated bank accounts as a safe way of keeping clients’ funds. They do not limit the leverage to reduce the risk of loss.
Negative balance protection as a method of lowering the chance of clients losing investments is also not implemented. Lastly, Nexospro doesn’t comply with transparency rules and obligatory transaction reporting.
Overview of the Trading Platform
Testing the Nexospro web trader with a demo account was impossible. So we can’t really tell you what the exact trading conditions are and how amiable they seem.
Except for several basic functions, we can’t characterize the platform as multifunctional. For that reason, perhaps only learners can find this software helpful. The trading needs of professional traders can’t be satisfied by this plain platform.
Nexospro can’t brag about its trading terminal offering a variety of advanced options. In comparison to that, MT4 and MT5 are well-esteemed trading platforms, preferred over all others in the industry today. Superior execution speed, built-in indicators, customizable options and Expert Advisors allow traders to gain an edge in every market.
To be able to truly profit in the foreign exchange market, we urge you to choose a reputable broker offering this prestigious software.
Deposit and Withdrawal Methods
The rise of the popularity of digital currencies has led Nexospro to set up their scamming scheme around it. Therefore, the only methods of funding your account are via BTC and ETH. More or less anonymous and hardly trackable, this is the preferred funding method on all fraudulent websites.
If that doesn’t sound repelling enough let us elaborate on the pricing. Opening a Micro account at Nexospro costs an absurd $5 000. The other four account types are even pricier. Premium account, the most expensive one, asks you to infest an insane $150 000. Not even half of the supposed services these accounts unlock are worth this price.
Withdrawals are designed to be practically impossible. Each deposit gets a 100% bonus. However, the dreadful bonuses come with the trading volume requirement.
Before you can think of withdrawing anything, you have to make a turnover equal to 30 x (deposit + bonus). Otherwise, you won’t be able to withdraw even what you originally deposited!
And that’s not all. Even if you manage to reach the bizarre turnover, withdrawal fees are 30% of the amount, plus the handling fee of 7%.
How Do They Initiate The Scam?
Nexospro is a textbook scammer. It is a good example to show how customers are treated with utmost respect and care. That is, as long as they keep investing tremendous amounts of money.
There’s nothing easier for a scammer than building their web of lies around you. Empty promises are all about fast wealth gain in the shortest amount of time. Before you become aware of the entire idea of a scam, you will be trapped in the vicious loop.
Unreachable trading volume requirement is one way of keeping you stuck. You are trying to trade on bogus software manipulated by fraud to make enough profit. It will still be insufficient. The fees of 30% + 7% will drive you insane and bankrupt before you’re able to restore what you invested.
Reliable Forex Brokers
Choosing the most reliable broker with the trading conditions you are looking for is always a challenge. You have to learn the exact details of pricing and commissioning, available assets for trading, account types, and other features.
All these tasks can seem hard and a future successful trader has to muster them before picking a broker for investing.
Forex brokers can offer significantly different conditions in terms of platforms, fees, funding, and other criteria. We have selected the following brokerage enterprises based on their popularity, reliability, and regulation.
In that sense, we can guarantee your funds will be safe and investments will pay off. For getting familiar with the exact details of the trading environment they offer, feel free to make a demo account with each and learn everything you need to make a decision.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFx.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
This Nexospro review is all about brutal honesty in exposing a cyber thief behind a brokerage site. So, we have to warn you to be extremely careful if you ever come across a domain owned by Cordelino LTD. Or any other offshore firm for that matter.
Nothing screams scam like a missing regulation. Because they don’t have a license, Nexospro is as dangerous to your funds as any other fake broker.
We’ve already explained why regulation matters so much. Apart from the safety of investments, it binds brokers to transparency and customer protection. Numerous other rules apply and their goal primarily is to protect traders.
So for the sake of keeping your capital safe and growing, choose a reputable broker that respects the necessary regulatory standards.
FAQs About Nexospro Broker
Is Nexospro Regulated?
No, Nexospro is not regulated by any jurisdictional financial institution. They’re an offshore illicit broker.
What Are the Funding Methods for Nexospro?
The only methods for transactions at Nexospro are cryptocurrencies – BTC and ETH.
How Long Does it Take to Withdraw from Nexospro?
This information remains untold. The broker doesn’t disclose much data about deposits and withdrawals in general.