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Nobel Trade Review - is it scam or safe?

Nobel Trade Review - is nobeltrade.com scam or good forex broker?

RATING: 1 / 1 REVIEWS Nobel Trade
Nobel Trade is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account  Min. deposit Max. leverage Spread
Bronze  N/A N/A N/A
Silver N/A N/A N/A
Gold N/A N/A N/A
Platinum N/A N/A N/A
Diamond N/A N/A N/A

 

Nobel Trade offers as many as five account types. As you can probably guess by the gaps in the table above, there is zero clarity on the broker’s trading conditions. Yet, our main concern with Nobel Trade is that it is not regulated, so be sure to read this review before registering with them and depositing any money.

 

 

Nobel Trade Advantages

 

Good selection of CFDs (allegedly)

For all its faults, this broker at least offers wide range of financial instruments for trade. According to the information on Nobel Trade’s website. Its clients can trade in more than 100 instruments, including many forex pairs and various CFD, including on cryptocurrencies.

 

If you are into digital assets like Bitcoin, you’d better trade them on a regulated crypto-exchange, or with a licensed forex broker.

 

 

>> Licensed Bitcoin forex brokers <<

 

 

Nobel Trade Disadvantages

 

No legit license, blacklisted by Luxembourg’s CSSF

On the brokers website we read that the broker brand is owned and operated by Nobel Trade Investments LLC, a company based in Luxembourg. As in any other EU Member State, forex brokers in this country should be licensed by the local financial authorities, or by similar governmental agency in another European country.

 

Not only that Nobel Trade is not licensed, but it was in fact blacklisted by Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier (CSSF). The CSSF informed the public that Nobel Trade is unknown to it and that the entity has not been granted any authorization to provide investment or other financial services in or from Luxembourg.

 

Doing business with an unregulated brokerage is very risky and we always advise our readers to avoid them, as most of them are fraudsters.

 

Does not disclose any trading conditions

Another clear-cut sign of trouble regarding Nobel Trade is the lack of any relevant information on its trading conditions. Scammers would not share much essential information about their operation and offer, and the reasons for this are pretty obvious.

 

That is why we consider the lack of information on spreads, leverage provided, minimum initial deposit required, trading platform used, etc., as a great disadvantage on the part of Nobel Trade. Furthermore, it does not offer any demo accounts, which is another worrisome sign, as it shows lack of transparency.

 

Most brokers provide a clear indication of the typical spreads they offer on major pairs and they are usually around 1.0 – 1.5 pips for the most liquid pair, EUR/USD. For further information, check out the below link.

 

 

>> Spreads of top brokers compared in real time <<

 

 

No access to MT4 

As we already pointed out, it is not clear what platform does Nobel Trade use. Yet, judging by an image uploaded in its website, the industry’s standard MetaTrader4 (MT4) is not supported, and it looks like the broker uses some unproven web-based interface.

 

Click on the image to view full size.

 

Most traders will surely prefer the internationally acclaimed MT4, which offers a full spectrum of trading tools and services: a number of built-in technical indicators, advanced charting package, a wide range of Expert Advisors (EAs) and extensive back-testing options. Besides, traders can download ready-made or create their own EAs and let the program do all the work.

 

 

>> Wanna trade with a MT4 broker? <<

 

 

Unusual requirements & fees

According to the information in the broker’s terms and conditions, clients of Nobel Trade, who have not used their accounts for 30 working days and have less than 25 trades will have to pay 150 Euro service fee.

 

 

Click on the image to view full size.

 

Most brokers charge way lower dormant account fees, and provided that their clients have not used their accounts for 6 months or more. Besides, minimum trading volume requirements usually apply only to withdrawal of non-deposited funds such as bonuses.

 

 

Conclusion

 

Taking into account that the broker is not licensed, its website does not disclose essential trading conditions, and that it was blacklisted by the authorities in the country where it operates, it is very probable that Nobel Trade runs some sort of investment scam.

               

In order to avoid being swindled out of your money like millions of traders across the globe, you’d better only deal with entities holding licenses from reputable financial regulators like UK’s FCA, or Cyprus’ CySEC (in Europe). These regulatory agencies require compliance with a number of strict rules that give significant assurance for the security of the clients funds.

 

 

>> Trade with a CySEC regulated broker <<

 

 

And finally, here are the highlights of the present review of Nobel Trade:

 

Pros Cons
Good selection of CFDs (allegedly) No legit license, blacklisted by Luxembourg’s CSSF
  Zero clarity on trading conditions, no demo
  MT4 not supported
  Unusual requirements & fees

 

Latest news about Nobel Trade
No news about Nobel Trade . Check back later.
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Traders` reviews for Nobel Trade

Spread

Pros

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Slippage

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Requotes

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Price feed

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Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

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Summary

Pros

Cons

 

 

Nobel Trade withdrawals

Do not trade with this company they promise the world are very friendly to get you to open an account. I have been trying to withdraw my deposit for 12 working days. Although i have double the funds in my account they no longer call you answer emails i fear i have lost my £250.00 deposit. Advise stay clear of them do your research first.

Ricky 07/09/2019
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