Sponsored By
de | cn | ru

NoaPrime Review - is it scam or safe?

NoaPrime Review - Is noaprime.com scam or good forex broker?

RATING: 2.5 / 1 REVIEWS
FIND BETTER FOREX BROKER

RECOMMENDED FOREX BROKERS


NoaPrime is a UK based, FCA regulated forex and CFD broker, part of the Finotec Group, offering some exotic currencies and CFDs on spot metals, commodities and indices with the MetaTrader4 platform. You can find more information on the trading conditions offered by the broker in the following review.

 

 

Account type Min. deposit Max. leverage Spreads
Prime Account $5000 1:100 1,3 pips, floating

 

NoaPrime Advantages:

 

FCA license

 

NoaPrime is a trading name of Finotec Trading UK Limited, which is based in the UK and regulated by the Financial Conduct Authority. 

 

The broker is a part of the Finotec Group, which also owns and operates Finotrade, TopWellCG, DragonGain (a brand, which targets mainly Japanese investors), Ballistic Markets, 121 Clearing, Finobitcoin, Krypfin and YCM-Invest.

 

Here we should also note that the FCA had issued a warning that individuals are using details of Finotec Trading UK as part of a scam:

 

 

NoaPrime's sound regulation is a main advantage, giving the broker sufficient credibility to be trusted by investors.

 

FCA is one of the most respected financial authorities in the world. FCA licensed brokers abide by strict financial and ethical rules, guaranteeing transparency to all transactions involving customers' funds.

 

FCA obliges all brokers under its jurisdiction to participate in a Financial Services Compensation Scheme, which insures traders' capital in case a broker can not meet its contractual obligations. Under the scheme, if a broker goes insolvent, clients can receive back up to 50 000 GBP of their trading capital. 

 

Additionally FCA brokers have to keep all clients funds in a secure, segregated account and to maintain at all times a minimum of 730 000 EUR operational capital. Here you can check our list of FCA regulated brokers:

 

>>Find FCA regulated Brokers here<<

 

Various trading instruments

 

NoaPrime offers trade with 45 forex pairs, including some exotic currencies such as Singapore Dollar, Danish Krone, Swedish Krone, Norwegian Krone, Turkish Lira, Hong Kong Dollar, Chinese Yuan,Hungarian Forint, South African Rand, Mexican Peso and Czech Krona. The broker also offers CFDs on silver, gold, oil and indices, but we miss the crypto currencies, so you can check our list of brokers offering trade with CFDs on Bitcoin and other crypto currencies:

 

>>Bitcoin Forex Brokers<<

 

Reasonable spreads

 

As advertised on the NoaPrime website, spreads with the single Prime Account start at 1,6 pips. With a Demo Account the EURUSD spread wes between 1,2 pips and 1,4 pips, which is in line with what traders would expect with a standard account. Still here you may check our list of brokers, offering even tighter spreads:

 

>> Lowest spread forex brokers<<

 

Various payment methods

 

NoaPrime says they accept all major credit cards, e-wallets, local payment methods and wire transfers. Still you may want to check our list of brokers where you can pay with Bitcoins:

 

>>Brokers where you can pay with Bitcoins<<

 

MetaTrader4 available

 

The MetaTrader4 platform is well known and preferred among traders. It has more than 50 in-bulid indicators and excellent charting tools with which to explore the markets.

 

In addition, with the help of a specially designed editor you can create your own indicators and even trading bots for automated trading sessions. You can also run simulations to test your indicators before trying them in real trade. Here you can check our list of brokers also offering the MetaTrader4 platform:

 

>>Find other MT4 brokers here<<

 

Website is supported in English and Chines

 

NoaPrime has an English and a Chinese version of their website and the support is advertised as 24/7 via live chat and a UK phone number. 

 

NoaPrime Disadvantages:

 

Excessive minimum deposit requirement

 

While with most brokers you can open an account with a hundred US dollars or less, with NoaPrime the minimum deposit is 5000 USD and that is clearly too much. Have in mind that with some brokers like XM and FXTM you can even open an account with just 5 USD.

 

Just one account type

 

NoaPrime offers just one account type – the Prime Account with a minimum trading order of 0,01 pips or 1000 base currency units. Trading with just 0,01 standard lot is usually available with micro accounts. Here you can check our list of brokers offering Micro Accounts:

 

>>Brokers offering Micro Accounts<<

 

Conservative leverage 

 

NoaPrime offers maximum leverage of 1:100, which although enough to accommodate most trading strategies seems a bit conservative. Having in mind that higher leverage means higher risk, here you can check our list of brokers, offering leverage of up to 1:500 and above:

 

>> Brokers offering at least 1:500 in leverage <<

 

No swap-free Islamic account offered

 

With NoaPrime you do not have the option to open a swap-free or Islamic account, where no interest is accrued on positions held overnight. Such accounts are preferred by Muslim traders as they are not allowed by the Sharia Law to take or receive interest. Here you can check our list of brokers, offering swap-free or Islamic accounts:

 

>>Brokers offering swap-free accounts<<

 

Unusual limit on credit card payments

 

The minimum amount that can be deposited or withdrawn via a credit card is 500 USD.

 

Conclusion:

 

NoaPrime is a FCA regulated forex and CFD broker and this is a major advantage as the license guarantees the security of the invested capital. And while the offered spreads, as tested, seem reasonable and there are some exotic currencies and indices available for trade, the minimum deposit requirement of 5000 USD is excessive.

Latest news about NoaPrime
No news about NoaPrime. Check back later.
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
Cyprus CySec, FCA MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, South Africa CySec, FSCA, FSC MT4, Web $5 Review Website
UK FCA MT4, AT Pro,
Advantage Web
£100 Review Website
Seychelles FinaCom MT4, Web $10 Review Website

Traders` reviews for NoaPrime

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

 

 

Noaprime, Noafx & Mr. Seeni

Just to share with you the Director of Noaprime is Mr. Seeni who is the same Director who was running NOAFX. He shutdown Noafx in April 2018 and he didn't pay his clients. He is promising every week to pay me but as today after 4 months I am still waiting to get back my 18,500 USD.

Marcello 08/04/2018
de | cn | ru