Trading nowadays is generally risky, considering thousands of companies operating without licenses. That’s why finding a proper broker becomes harder and harder, especially for inexperienced traders.
But if you look at NordMarket at first glance, you might think the company is absolutely legit. Thus, if you know where to look for clues, you will realize the company is not actually that good. Let us guide you through this NordMarket review to safe trading.
| Regulated By: | No regulations |
| Is This Company Safe? | No |
| Known Websites: | |
| Have Warnings From: | N/A |
| Registered In: | Vanuatu (allegedly) |
| Operating Since: | 2022 |
| Trading Platforms: | WebTrader, MT5 |
| Maximum Leverage: | N/A |
| Minimum Deposit: | $500 |
| Deposit Bonus: | Available |
| Trading Assets: | Cryptos, forex, indices, shares, commodities |
| Free Demo Account: | Not Available |
| How To Withdraw From This Company? | Withdrawing funds from a brokerage that misleads traders about regulation is most likely impossible. We advise you to book a refund consultation with our specialists before they vanish. |
Legal Info: Is NordMarket Legit Or A Scam?
When researching this broker, one of the first things you can find is its statement about regulatory oversight of VFSC (Vanuatu). Even though it doesn’t bring you any more comfort than a broker without a license, VFSC regulation should make a difference. Yet, NordMarket Ltd can’t be found in their database.
Fairly, even if the company was licensed by this authority, the fund’s protection would be minimal. Generally, the requirements of offshore regulators can’t be compared to the top-tier ones. Primarily to FCA, BaFin, ASIC, or any similar institution.
Who Are NordMarket’s Victims?
Another important detail is that this company is quite young. Since 2022, when the company’s domain was registered, they have been advertising their services all over the world. You will quickly realize in the following list that most countries have top-tier regulations, starting with:
- Netherlands
- United States
- Finland
- Brazil
Yet, the company is not authorized to provide its services in any of these countries. Also, you can find some positive reviews about NordMarket coming from traders registered in Germany. Obviously, those reviews are completely fake. With this in mind, we recommend you start the refund process immediately. For step-by-step guidance, contact us.
Traders Reviews
It’s quite surprising to see only two comments on Trustpilot for a company that has been around since 2022. Even though both appear positive, these comments are obviously fake. With brokerages that hide trading conditions and mislead traders about licenses, it’s hardly believable that anyone can have a good experience.
Therefore, we invite you to share your opinion and experience in our comments section. If you need advice on a refund, feel free to contact us directly.
Leverage, Commissions, Spreads, Fees and Taxes
It’s important to realize that NordMarket broker doesn’t reveal any of its trading conditions. Consequently, traders should be prepared for surprises with this company. They can also simply choose top-tier licensed brokers to avoid any uncomfortable situations.
On the positive side, it appears all accounts are commission-free except for stock trading. Thus, details about those commissions are nowhere revealed.
Bonuses
Even though the company doesn’t mention bonuses transparently, their T&Cs reveal the possibility of such offers. Most importantly, traders should keep in mind bonuses are not withdrawable. Neither are profits generated with it. So, that might be the key trick with this firm.
NordMarket Trading Features
With the platform offered by this company, traders can enjoy a wide range of advanced options. Starting with one-click trading, strategy testing, various customization features, auto chartist features, and even PAMM accounts. The only disadvantage is that none of these features are relevant if the company is not licensed.
Trading Platforms Available
If you are wondering what NordMarket app is on offer, it’s a highly popular and trusted MT5. In combination with Autochartist features and market reports, it can be quite a good match for traders. Also, it’s available as a web trader and desktop app.
But is it worth it without regulations? To find out, make sure to check our tips from the RCG Markets review.
Available Trading Assets
Generally, tradeable assets with any brokerage nowadays are very similar. That’s why trading instruments are not a dealbreaker anymore. Anyone can find suitable investment options on almost any platform. Still, security is the key priority.
Anyway, the assets you can trade with the NordMarket account are:
- Currency pairs – GBP/JPY, EUR/SEK
- Cryptos – XRP, ETH, LTC
- Commodities – crude oil, silver
- Shares – Walt Disney, Netflix
- Indices – NYSE, NASDAQ
Account Types
Once traders complete the NordMarket login process, they can opt for one of seven account types. Each account requires a specific first minimum deposit to get started. Of course, the numbers progressively get higher, as do the number of benefits traders get. The question is if you can trust those.
In any case, the options are:
- Standard – $500
- Bronze – $1.000
- Silver – $3.000
- Gold – $5.000
- Platinum – $10.000
- Premium – $25.000
- VIP – $50.000
Mobile Trading App
Of course, with MT5 availability, traders can also enjoy reputable iOS and Android apps as well. But does that make the NordMarket platform reliable? Definitely not. But if you check our RRR Capital review you will understand why the platform can’t make any broker trusted.
Demo Account
If you are not eager to spend $500 with this broker, you have only one option: find another broker. This one doesn’t offer demo accounts, which is quite surprising considering the available MT5 platform.
Education
As can be seen from the account types, the company offers a wide range of educational programs. Start with mentoring, premium sessions, advanced mentoring, tips, and trading signals. It’s only disappointing that these options are unreliable when coming from unregulated firms.
NordMarket Withdrawal
Another problematic detail is the NordMarket withdrawal procedure. Fairly, there are plenty of withdrawal methods available. Such as card transfers, e-payments, and crypto. While e-payments and cryptos are completed instantly, the other options might take up to 5 business days.
But you should keep in mind the company takes up to 5 business days to process withdrawals. Also, withdrawal fees are not disclosed, and of course, there are maximum withdrawal limits per single transaction.
Customer Support
When it comes to contact options with this brokerage, you can try your luck via e-mail. Fairly, two other options, such as live chat and phone number, don’t work properly. Therefore, you can’t rely on those much. At least, the company presents us with working hours between 8 AM and 12 AM (Mon-Fri) GMT +3.
Key Information To Consider About NordMarket?
All the details we revealed in this review can easily tell you if is NordMarket legit or not. With fake licenses, hidden trading conditions, and unreliable support, it’s clear traders can expect problems. That’s why it’s crucial to know how to recover money from such brokers. Especially where there is a huge potential for withdrawal problems.
If you experience any issues with this trading firm, we invite you to share them with our experts. After all, you can get a free first refund consultation if you reach out to us directly. Make use of it. Get in touch today.
FAQ Section
What is NordMarket?
NordMarket is an FX and CFD trading firm with allegedly registered offices in Vanuatu, and it has been operating since 2022.
Is NordMarket Legit?
No. NordMarket scam broker presents us with a fake VFSC license that can’t be found in the database.
How to Withdraw Profits From My NordMarket Account?
You can request withdrawal via card transfer, e-wallet, and bank transfer. Thus, with the highly expected issues, we suggest you contact us to prepare a refund.
Source:
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