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Nostrobank Review - Is it scam or safe?

Nostrobank Review - is Nostrobank.com scam or good forex broker?

RATING: 1 / 22 REVIEWS
Nostrobank is an offshore broker. Your money is not safe.

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Trading Accounts

 

Account type  Minimum deposit  Maximum leverage Spread
Mini $500 1:200 Fixed from 3.0 pips
Classic $5,000 1:200 Fixed from 2.0 pips
Premium $20,000
1:200
Fixed from 1.0 pips

Nostrobank offers forex trading through three account types. Spreads at this brokers are fixed. There have been several complaints against the company in popular forums.

 

The Company. Security of Funds

 

Company Country Regulation
Keyds Lydya Ltd Marshal Islands N/A

 

Nostrobank is owned and operated by KEYDS SCOTLAND LP, a subsidiary of Keyds Lydya Ltd. which is registered in Marshall Islands. The company does not stand under any specific financial regulation, which is a concern for us. The company also owns Pips-fx.com, a review of which you may find here. They are also affiliated, with MultiplyMarket, but the relations aren't as clear.

 

You may already know this, but financial regulatory agencies are state entities which impose certain restrictions on companies in the sector. Different regulators apply different principles and practices. For instance, Australia’s ASIC requires brokers to have capital holdings of at least AUD 1 million, as a sign of good will. Furthermore, client’s funds must be kept in “segregated accounts”, which implies the company can not use them freely.

 

There were a few complaints against Nostrobank on a popular forum, from users who claim they can’t withdraw their funds. This combined with the lack of regulation leads us to believe the company may be a scam.

 

Trading Conditions

 

Minimum Initial Deposit

Nostrobank has set the minimum initial deposit requirement at $500. This is a relatively high level, compared to what most brokers nowadays. For instance, IG does not even have a minimum requirement. Keep in mind this should not be a major factor for you, as trading successfully requires more capital and a solid risk management plan.

 

Average spreads & Commissions

Spreads at Nostrobank are fixed, starting at 3 pips for EUR/USD (for the mini account). This is higher than other similar offerings, as most fixed spread brokers nowadays provide better conditions. For instance, HYMC offers 2 pips for this pair for the Mini accounts and even slightly tighter spreads for the other account types. 

 

Leverage

Nostrobank has set a maximum leverage of 1:200, which is in line with what you would expect nowadays. Some forex brokers even offer higher levels, such as 1:500

 

Trading with higher leverage does not necessarily mean you are getting better conditions. High leverage allows you to take higher risks, which can lead to serious losses. Be sure to fully understand the risks involved with margin trading, before participating in it.

 

Trading Platforms

 

Nostrobank offers the popular MetaTrader 4 (MT4) platform as well as their own web-based solution. MT4 is popular with many brokers and there is a reason for that. The platform is easy to use, has a great charting package and provides the world’s most famous automated trading environment – you can check out our reviews of Expert Advisors here.

 

We couldn’t get the web-based platform running for the purposes of this review. That being said, this may be a temporary issue.
 

Methods of Payment

 

Nostrobank offers only Bank Transfer and Credit Card as its deposit methods. Funds can be withdrawn only via Bank Transfer. Keep in mind these operations can take up to several business days.

 

Conclusion

 

Nostrobank is a forex broker, owned by a company registered in the Marshal Islands. The company is not regulated. There are several complaints against the company on popular forums, from people who can’t withdraw their funds. Even if they were a legitimate broker (which doesn’t appear likely), their trading conditions are far from ideal. Here are the advantages and disadvantages with regards to this broker:

Pros Cons
MetaTrader4 Platform No regulation
  Complaints in forums
  High fixed spreads

 

 

Latest news about Nostrobank
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Traders` reviews for Nostrobank

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

 

 

Multiply Market taking over Nostro Bank?

Before I had an account with Nostro Bank which is still there but em not doing more trading for few months now. Still I had little balance there. Today I received a call from Multiply Market saying that we have purchased the Nostro Bank and now all accounts are with us and they are offering to start trading with them coz Nostro Bank is no more with their name.

Please let me know is it right, I mean is the news of taking over Nostro Bank by Multiply Market is truth ?

Regards

Arif Saleem 06/27/2018

Nostrobank have disappeared- advice please

All contact has been lost with Nostrobank my links no longer work

My account was at 5ooo Euro and seems to have vanished, ok so it's not a vast amount of money but it stings!

tried many times to get it out but they just wouldn't give it back

David Hartley 06/13/2018

Nostrobank - Multiply Markets. Fraudsters,scammers.

i have just been scammed and robbed $25oo australian dollars buy a company calling themselves multiply market.my broker was peter young who's name keeps popping up everywhere.this is a very well professionally organised fraud.they all have english fake names,yet all have european accents.are brilliant sweet talkers and liars,then turn aggressive when you say you want to close your account and are not prepared to deposit anymore.i am absolutely ropeable and so angry it's not funny.i am 55 years of age and on a disability support pension and i have a autistic disabled boy to care for.i will fight and fight and do whatever it takes to get my money back.and have heartless maggots like peter young put in jail.if anyone needs my signature for any lawsuit against them i am more than happy to contribute.in the meantime if anyone can help me with somebody that may be able to get money back i would be so grateful.my email is [email protected] and take care my fellow brothers and sisters there are so so many scamming,fraudulent companies and people out there that it is nearly impossible to know who's who.if i can help anyone with any information please contact me.i also need some help or advice as to how to get my money back,which is with nostrobank.Dragi Jovanovic.D

Dragi jovanovic 05/26/2018

fraud

My bank wish to put the fraud police on your bank can you get some one to contact me urgantly thank you

Alan Lloyd 05/25/2018

Legal action against Nostrobank

I am taking legal action against your company peter young Cristina brooks and aronld fox as scammers I am also reporting you to the financial ombudsman I think that I Have been more than fair with you now I know you just scam people out of there money yours alan

Alan Lloyd 05/21/2018

you can not withdraw from your bank

I am very upset with your bank as all emails get sent back undelivered you can not withdraw from your bank as you have to confirm your withdrawal as the email to confirm on does not exist the phone numbers do not exist so how can anyone withdraw or even close a account if you can not get intouch with any body so ther for Ithink it looks like a leagl root yours Alan

Alan Lloyd 05/10/2018

Accounts

I have just decided to close my account with your bank could you please arrange it for me as your withdrawal system does not work they send a ticket that you have to verify which you can not do as there email and phone numbers do not exist so if you ask them to trancefare it back into the account where they took it from they have all the details if they need any more they can ring me thank you

Alan Lloyd 05/03/2018

Pay them a visit at home

I have another name for your list - Peter Young. All English names with European accents. I suggest an older, more subtle approach.

Perhaps we should pool some money - a faction of what they have stolen - and 'employ' someone to find out their real names and addresses, family members details, etc, and pay them a visit at home and see if they can be 'persuaded' to change their withdrawal policy.

What do you think? Please contact me.

Rick Beikoff

Rick Beikoff 04/02/2018

I want my money back from nostrobank

Is it possible to get all my money back from nostrobank ??

raymond totten 03/29/2018

no replies

I have had money in your bank since December and nothing cant withdraw false information would like someone to get in touch with me thank you

Alan Lloyd 03/26/2018

nostrobank account disabled

as soon as I registered a withdrawal, my account was disabled.

my password does not work.

no way to contact them, you can only send an email , but they do not answer.

even the guy on skype is now missing.

vic 02/26/2018

They are all called Steven Gold and Olivia Green

We together can make a difference.If you can not find a trusted broker quit this bussiness before it is too late , never mind of what you have lost until now.2000 signatures obligates a prosecutor to investigate them. Email me so we can arrange something all together : [email protected]

ps:All their names are made up names in my opinion.

Steven Tilley 02/20/2018

Do not! deposit anything, to Nostrobank

I receive phone calls from Nostrobank employees, they lie about everything and encourage me to deposit more, well don't do it!!!

They stole US$5000 from me, and will tell you they can get your money back by depositing more. Its so illegal they will end up in Jail soon.

Steven Tilley 02/20/2018

Withdrawal - money never arrived

I made a withdrawl the 31.th January from my Nostrobank account of 1000$ the money should be transfered to Sakkingbank.dk but the money never arrived

Jytte Jolanthe Jarl 02/15/2018

Thieves at Nostrobank Keyds Scotland LP

Olivia Green, Steve Gold, Ruby julien all are crooks.
Keyds Scotland LP set up to steal your money.

VLG 12/31/2017

Thieves at Nostrobank Keyds Scotland LP

Crooks at Nostrobank (olivia Green, Steven Gold, Ruby Julien, Linda King) are stealing peoples money claiming that they are the most honest brokers. These crooks needs to be ion jail !
Victor Goliac

Victor Goliac 12/20/2017

Nostrobank Brokers stea money from customers

I have funds with Nostrobank (17.500( and after a successful trade (42.000) but those funds were manipulated by the Brokers and their assistants.
I asked to have those funds returned but I wasn't lucky enough to get them. I have proofs (several email contacts), my banks tried to retrieve the deposits without success.
This system must be illegal and punishable by UK laws.
Yhe 'Brokers' I worked with were Steven Gold, Ruby Julien, Olivia Green and Zack (accountant)/
I received an email (October 23, 2017) from Mrs. Linda King. She knew about my complaint and those involved and told me (via email) that she needed a little time to investigate the issues. When I tried to conyacy her again the email address was not good anymore. So, basicaly was noway to contact anybody at Nostrabank (the 'brokers' dissapear sometime ago).
I am a stuborn man and I promise that I will follow this situation until I get these crooks to jail. It appears that they are organized (like a Mafia)

Victor Goliac 12/10/2017

Another scam

Do not deposit money with these crooks. You will never see it again.

Liam 11/12/2017

Thieves at Nostrobank

I start with Nostrobank trading on June 2017. First contact was Olivia Green who assured me that Nostrobank is the best trader on the market. Than I continue with Ruby Julien ans than with Steven Gold. All were set up to steal customers money. As soon as my account became 42000 all vanished and were no responses to my emails or phone calls. THEY ARE ORDIBARY THIEVES AND ARE DISTROING THE COMPANY THEY WORK FOR NOSTROBANK AND THE KEYDS SCOTLAND LP.

VLG 10/16/2017

Nostrobank - Scam

Nostrobank abd KEYDS SCOTLAND LP are 'colaborating' in STEALING people's money. The principal brokers are Steven Gold, Ruby Julien, Olivia Green and Zack.
Stay away from this scammers and the companu they are using Nostrobank and KEYDS SCOTLAND LP wgo's
bank accpunt its used.

Victor Goliac 10/14/2017

Re am Olivia Green and Steven Gold Thieves and Scamers

Do not deal with these Thieves :Olivia Green and Steven Gold

Victor Goliac 10/09/2017

Nostrobank: Tried to get me to set up a new account by saying they could get back money I'd lost from 10 Markets

They called me up 1 month after I'd been scammed out of £25500 from 10Markets.com saying they could get most of the money back using their legal department for a percentage only if I opened a new account with them. They put me on to an account manager who was very convincing until I told him it was the same old spileal as 10Markets, who basically ripped me off by getting me to over trade with my account when the promise was never to invest more than 10% of your account! look what happened to me! Don't be fooled by these seemingly nice people and lose out!

Dave 06/26/2017
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