The broker’s page is in French, meaning it’s targeting mainly French clients. According to their website, the broker offers a next-generation trading platform. However, we saw nothing new and nothing spectacular. All we can tell is that the broker is a huge red flag. Why?
Read our NewCFDs review and find out.
|Broker status:||Offshore Broker|
|Regulated by:||No regulation|
|Owned by:||PRO – SM Ltd|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Supported Platforms:||Web trader|
|Types of Assets:||FX, commodities, indices, shares, cryptocurrencies|
|Free Demo Account:||Yes|
|Accepts US clients:||No|
NewCFDs Regulation and Security
NewCFDs is an online trading brokerage owned by PRO- SM Ltd from Saint Vincent and the Grenadines. However, the broker is not quite impressive since it’s not listed in FSA SVG or any other trading register. Since SVG has the rule to tell brokers to opt for Tier1 regulations, we’ve checked AFM, FCA, ASIC, and more and found nothing. This means we are involved with an offshore scam, and you should get your money back as quickly as possible.
Fund Withdrawal Issues With NewCFDs
Everyone starts trading with the same goal in mind – to make some profit. But what happens once you discover you cannot withdraw that profit? Who should you complain to if the broker is offshore and unregulated?
Many clients experienced withdrawal issues, according to NewCFDs reviews. And many of them stated the same. The company does not accept withdrawal requests, and if by any chance you manage to speak with your broker, your account will simply be suspended and your phone number blocked in the company’s system. If something similar happens to you, please let us know immediately.
If you cannot withdraw the funds, of course, you will not be satisfied. That’s why we were not surprised to see many negative NewCFDs reviews. According to traders, the broker does not give clients much back. Moreover, they are connecting to AnyDesk and trying to deduct even more money.
Do not deal with illicit offshore brokers.
How Does Online Trading Scam Work?
Online trading scams are prevalent nowadays. Why? Because many people are looking for additional income. And investing is the most profitable. Now, the problem is that many companies and regulatory bodies do not oversee them all. And once they turn their backs, brokers are doing whatever they want.
Usually, everything starts with a false trading ad that is promising millions overnight. Once you sign up, the broker gives you a call, convincing you to add more funds than you intended to increase the success.
And it works like this until you stay with no money. So, you are not an asset anymore, your account is suspended, and your money is gone.
Scammed by NewCFDs?
If you were scammed by NewCFDs or any other illicit brokerage, report it immediately.
Our experts are ready to provide you with all the information regarding the chargeback process.
But what is a chargeback?
This is a way for your bank to refund the money directly from the merchant. Contact us via online chat to let us know what happened and we’ll help you find the most suitable solution.
Let’s get your money back now.
What is NewCFDs?
NewCFDs is an online trading brokerage without a trading license.
Is NewCFDs a scam?
Since NewCFDs is not a regulated broker, it can be considered a scam.
Is NewCFDs regulated?
No, the broker does not have any kind of financial regulation for providing financial services.