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NewForex Review, Rating and Comparison

NewForex Review, Rating and Comparison - is newforex.com scam or good forex broker?

RATING: 4.4 / 26 REVIEWS ForexBrokerz NewForex
NewForex is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

Trading Account  Minimum deposit Min. trade size Maximum leverage Spreads     
Cent $1 0.01 1:1000 2.0 pips, fixed
Standard $10 0.01 1:700 2.0 pips, fixed

 

Clients of NewForex have two account options: Cent & Standard accounts. Both of them offer high leverage levels, low minimum initial deposit, commission-free trading, fixed spreads, instant execution and micro tradeable lots on the MetaTrader 4 platform. Besides, Standard account holders may benefit from 2.5% interest on deposits per annum.

 

Overall, NewForex’s trading conditions seem reasonable: you may start with just $1, and its fixed spreads are average – 2.0 pips on EUR/USD. In comparison, another offshore broker, FxChoice, offers average spreads of 1.2 pips on its commission-free accounts. In general, floating spreads tend to be tighter than fixed ones, however they widen during news releases, for example. For further information and comparison, you may look up the real-time spreads of 15 leading brokers here.

 

As this broker offers only fixed spreads, instant execution and on-deposit bonus, we suspect that it acts as a Market Maker.

 

The Company. Security of Funds

 

Company

Country

Regulation

FinPark Ltd.

BVI

FSC

 

Founded in 2013, NewForex is a broker that offers trading in more than 30 currency pairs and commodity and metals CFDs on the popular MT4 platform. It has offices in Hong Kong, Dubai, London, and Moscow and it looks like it originates from Russia.

The company behind the brand is FinPark Ltd. (according to the client agreement on the broker’s website), which holds a license from British Virgin Islands’ Financial Services Commission.

Although offering regulated status, the BVI Commission allows companies to be entirely based overseas and does not exercise effective supervision. So, we do not recommend investing with offshore brokerages, as it is extremely risky – these companies can easily manipulate the platform, delete your winning trades, and do whatever they like with your money. You’d better choose among brokers regulated by the FCA, ASIC or another trustworthy regulatory body.

 

Trading Platform

 

NewForex offers its clients the most popular software in the forex industry - MetaTrader 4. Unfortunately, there is only desktop version available.

 

The MT4 Terminal is a perfectly equipped - It provides the necessary tools and resources to analyze price dynamics of financial instruments, make the trade transactions, and create and use automated trading programs (Expert Advisors).

 

Promotion

This broker offers 30% bonus on each deposit, which can be withdrawn after certain volumes are traded.

 

Methods of Payment

 

NewForex offers its clients the following payment modes: credit/debit card (Visa, MasterCard), bank wire transfer, and e-wallets Skrill, Neteller, WebMoney, QIWI and PayCo.

 

Accepted currencies: USD, RUB. EUR.

 

Conclusion

 

It looks like NewForex is another offshore forex and CFD broker and supposedly a market maker that supports the MT4 platform. Here are, in a nutshell, the pros and cons of NewForex:

 

Pros   Cons
Commission-free trading Not regulated
High leverage levels offered Only desktop MT4 platform available
MT4 available Market maker model
Bonuses available  
Latest news about NewForex
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Traders` reviews for NewForex

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

very good company

Hello. I trade with a Newforex. It’s a very good company with a convenient service. Trading process takes place without delays. At the beginning I used a no deposit bonus 50 dollars. Per month on average earn 800-900 dollars, withdrawal takes a couple of days. Very good company for trading.

Billy 04/28/2017

No problem

I started working with NewForex company on the cent account First Stream with the no deposit bonus $50. It is a good opportunity to test the trading conditions of the company without a deposit. I contacted the Support Service as often as I had a question, and they answered me quickly. Then I started to trade on my own funds, I deposited $200 using skrill. There weren’t any problems with the withdrawal. I also want to mention such advantages as a good selection of trading instruments and payment systems, fixed spread and the leverage up to 1:1000.

Philosopher 04/17/2017

I trade with Newforex

I trade with Newforex for about a year. I started with a no deposit bonus $50. I get used to test a broker before working with it. I deposited my own money, made the withdrawals and deposits several times, traded on different types of accounts, changed the leverage over and over again. The test period was about 4 months. In general I didn’t experience any problems. Once it took 2 days to get my money, but it is ok, it was just one occasion. There are fixed low spread, leverage from 1:100 to 1:1000, two types of accounts - dollar and cent. I trade on the dollar account now (7080649). The good analytics are published on their website. I always check it. The support is good. I like this company. And I am going to work with it for a long time.

Pirel Hars 03/20/2017

NewForex is a reliable company

NewForex is a reliable company and provides the great trading conditions. I earn with NewForex for 2 years and I am not going to change my broker. I withdraw my profits without any problem and very fast. The company has a good support and a smart personal manager. You can start working with this company with a no deposit bonus $50 as I did. Now i trade on a dollar account New Grade. I prefer news trading. By the way fresh analytics are published on the website regularly. Now I am thinking about becoming the partner of NewForex company.

Garandy 01/24/2017

New Forex good

I work with a Newforex for two years. I have a good opinion about the company. The company has very good conditions of trading - the correct execution of orders, big variety of leverage, trading terminal works well. This broker allows you to trade without investing big sums - in the beginning I just opened a cent account and transferred small sum of money. I also used a no deposit bonus 50 dollars. With this I started trading. After some time I opened a US dollar account (7883491) and I use it at the moment. Per month I earn 600-800 dollars.
To withdraw funds, I use the Skrill. Withdrawal is always in time. The company has excellent conditions for customers - this is most important.

Margrjet 01/12/2017

New Forex is my broker

Negative feedback is better not to read and believe in your strength and actions. I'm trading in the company NewForex two years and problems I never had.Are traded on the First Stream and for the New Grade. Always withdraw money without problems.Maybe there are brokers better ,but I stayed here. The service is convenient is SWAP-FREE, it is also Islamic accounts.The last year and a half I got a lot of money. This year I have never been in contact with support and get my money without problems. Now added to my account for 500 bucks. I traded the most popular pairs. Everything is OK.A month ago I entered the market on nzdusd and held until the price fell. Caught 650 points. Broker has behaved very well at the highest level. The transaction is not terminated spontaneously, and it was closed and she disappeared. I set trailing stop of 100 and safely with a profit out of the transaction.

Magdalena 12/09/2016

I like NewForex

My trading experience with NewForex in 2014 and it is positive. I very quickly open an account, activate it. I withdraw money on my Bank card within 10 minutes. On WebMoney I will say that there is a day for withdrawal and a few hours to enter. I currently do business with the three brokers, including NewForex. The size of fixed spreads there are low, the license of a company in the UK, it is excellent. The MT4 platform with the performance to the second. I can recommend them as really adequate and honest specialists. Now I'm learning affiliate program. As I understand, profitable business.

PetraFob 12/05/2016

beware do not trust this company

they'll stole your money and make u lose trading

TRADER 11/30/2016

all positive reviews are fake

pls do not make transaction with this broker,you'll lose money

TRADER 11/30/2016

deposit made but not credit to account ,newforex stole my money

29/11/2016,I made a $30 deposit via payco gateway by using mastercard to NEWFOREX account but still not credit to balance.I sent many support tickets but no response.I regret for using thie service.I should have read other comments before making any deposit to this company.

TRADER 11/30/2016

Instant execution and fast withdrawals

Hello. I trade with a Newforex company for a 6 months. I like trading conditions offered by the company. There are several of leverage options, a large selection of currency pairs, fixed spread. Last month I earned 1470 dollars, I withdraw money to my skrill wallet, everything took place without delay, in 2 days I got the money. I have a good opinion about Newforex.

Elena Na 11/17/2016

Good broker

I knew about the Newforex recently, a month ago. I trade only for a two weeks. I like this company, very good service. I use a no deposit bonus $50 that offers Newforex. It’s a real money, I use it for trading. I already earned 100 dollars. Withdraw money yesterday, everything took place without any problems, all the money is already on my wallet. This is a good company.

Anna-Mary 11/01/2016

I trade with a newforex company from last year

Hello. I trade with a newforex company from last year. The trade process goes well, the terminal works correctly, orders are executed on time, no problem. First time I used a no deposit bonus 50 dollars, it’s a real money and you can use it for trading. Now I trade on my own money, I earn 800-900 dollars per a month, with the withdrawal of money problems don’t happen, company always pays the full amount of money to clients.

Rosalie 10/11/2016

Newforex Can Be Trusted

I just amazed with its trading server performance. Closing order on my Live account no requote even in volatile market and the platforms are friendly user.

Amera 10/06/2016

I can say only good things about the newforex

I can say only good things about the newforex. I trade with this company for 5 months, from January. I like it. Good trading conditions, it’s possible to open a dollar or cent accounts and trade on a comfortable for you amount of money. In the beginning I used a no deposit bonus 50$, with this money I started to trade. Per a months on average I earn 600-700 dollars. Sometimes less, it depends. Trading is good, orders are executed without delay. The company always withdrawal of funds within 1-2 days.

Charisa 09/22/2016

To Shabeenasunil

Dear client! As I learned in the Financial Department the cause of the problem was found and today it will be solved. The official response you will receive an email with finance@newforex.com

Best regards,
Anna Mon,
NewForex spokesperson

Anna Mon 09/14/2016

Small Broker BUT POWERFULL

I don't know why some bad review about this Newforex?? So far my trade with this broker really smooth and never have problems there. I've been traded in so many brokers but most of them really make me unpleasant, too many delay and requote while making orders. here, in newforex no requote and no delay order. i like this place for making money. really best choice although small features of broker.

deny robot trader 09/09/2016

Withdrawal success with proof

I don't know why there are many bad review related with Newforex, but from my experience, I didn't have any problem with my withdrawal. This is a proof of my withdrawal from newforex
https://s21.postimg.io/565o6r0t3/image.jpg

I trade mainly using daily candlestick pattern and news. So usually I trade long term not scalping. Have great experience from this broker

Diva nalendra 09/05/2016

scam

mytrading a/c.7115056.
I deposited the money to new forex(through pay co.)But they didnot give to my trading a/c.I'm several times email to finance and support department, only support department response my email but the answer almost always same as.Soon' and be patient ... We are working on this problem at the moment. We will try to fix it as soon as possible'Our technical department is working on this. I thought that they are scam..

shabeenasunil 09/05/2016

I trade not for money but more for interest

A lot of controversial reviews, I want to leave my opinion too. I trade not for money but more for interest. I like it especially when I gain. My fellow invited me to NewForex. After the first depisit I got good bonus +30% which was very handy I should say. I’ve already worked out my deposit and now boost it. I trade on Grade, have several active trades, hope to withdraw profit at the end of the week. Broker meets my requirements.

Maximilian 08/31/2016

I traded successfully, made 600$ from 300$

I came to NewForex in September last year. I traded successfully, made 600$ from 300$ but then lost all in several trades. I started to argue with technical support. They calmed me down, explained to me all the risks and how to trade corrctly.As a result I started to use their company analytics, analyse market, take news into account. I open trade with more understanding and trade without losses already 3 months, try to increase my balance. NewForex trading conditions totally satisfy me, good order execution, fast withdrawals, no commission.

Henri 08/24/2016

They are always ready to help and explain, withdraw money without delays

I trade at newforex for a couple of months, on a demo account so far. I’m learning now, work out my own strtegy. I like trading conditions here and technical support is responsive. Demo is very convenient, training and error correction. The first month I saw my mistake. Failing to wait for the positive result I used to close a trade with loss and later I understood that it’s the reason of losses. But sometimes on the contrary I hope till the last that the price will go in my direction, wait and lose everything. I started to act in another way, more wisely. Finally I learned how to hold profit for a long time. Now I’m going to open a real account.

Julien 07/20/2016

Support service works fast, no problems with withdrawals

Hello! I work with newforex for a year and a half and can say that I’m content with conditions. I compare with other brokers I traded with earlier. I found a lot of plus points, order execution and withdrawals are fast. Enough instruments for trading, all main pairs are available. However I think they could widen their range of pairs. It would be nice to have the opportunity to trade with options. Support service works fast, no problems with withdrawals. This month I have already made $550!

Hayden 07/08/2016

I work with newforex for a year

I work with newforex for a year. Earlier I traded with other brokers but every time something went wrong. NewForex is ideal for me ‘cause I trade mostly with advisors and they allow to use them. They have low spread, opening/closing of positions doesn’t hang up, when you deposit account you can choose bonus 30%. It’s important ‘cause I don’t have spare money and in this way my deposit rises. I trade regularly, don’t earn a lot of money but as additional income it’s quite good. I get up to $1000 a month.

Selina Toy 06/23/2016

My experience with Newforex is good

My experience with Newforex is not so big. I should say that I don’t believe in stories about a trader who becomes a millionare one day. Our investments in comparison with big market players such as leading banks are tiny and consequently gains are not so large. But as an extra income it’ll be not so bad. I withdraw around $300 a week. Newforex promotions really help. If you open an account, they give plus $50 and you use this money in trading. Another promotion +30% on the deposit boosts a trading balance and profit. Without these benefits there would be much less profit.

Main 05/31/2016

Great company, recommend to everyone

I trade not so long, only a few months. I started with newforex as they offer hedging. My experienced friend said that it helps to save even
the most helpless trades covering most part of losses. He didn’t lie. Hedging really minimizes losses. NewForex consultants always in touch and
help to solve any problems during trading. With them the start of my trading is without losses, I feel more confident now, no financial losses,
withdraw $300 monthly. I think soon it will get bigger. Great company, recommend to everyone.

Robert Toch 05/17/2016

To Ammar Farhat

Dear Client! We care about our clients and constantly work to improve our services including support.We have not had any disputes and we did not refuse to meet our obligations. We would be very grateful if you give good comments concerning the response of NewForex on all websites where you left your complaint. Could you, please, confirm that NewForex company made a withdrawal of all your money.

Best regards,
NewForex Spokesperson

Anna Mon 04/25/2016

NewForex are Just Scammers

I opened a cent account back in 06/2015, traded more than 4 months, made some profits and fulfilled all requirements, requested a withdrawal, after 22 days, these guys keep asking me to wait because the statement has been sent to financial services..until today there is no responses to emails...be aware and be careful. they just will put in their pocket your money. you will see no one dollar paid to you...they are scammers .Beware...I have got all proofs, photos and trading history...Avoid NewForex.com.. that is my advice.

Ammar Farhat 11/10/2015
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