Trading with offshore brokerages is always a gamble. You never know if they will simply disappear with your money. However, one thing can easily change everything. That’s top-tier regulation coming from FCA, BaFin, ASIC, SEC, or similar institutions.

To be precise, regulators from any country that truly has connections to financial markets can be fairly trusted. But to find out if that’s the case with this brokerage, you’ll have to read our NGCB review until the end.

Legal Info: Is NGCB Legit?

NGCB or Newton Global Commercial Business LTD, is an offshore firm registered in Mauritius. Surprisingly, the company also operates under the regulatory oversight of the Financial Services Commission (FSC) since 2022. Or at least that’s what they say. However, if you look at the company’s domain age you will realize it was registered in March 2023.

Fairly, these numbers don’t add up. But in any case, the company doesn’t have any top-tier regulations. Consequently, traders can’t expect segregated bank accounts for deposits or any other funds protection feature.

Who Are NGCB’s Clients?

If you look at NGCB reviews you will realize most of their clients come from Nigeria. Or at least, that’s what they want us to believe. In reality, when you analyze the company’s website, the results are a bit different. It appears the company targets: 

• United States
• Papua New Guinea
• Japan

Generally, we are not surprised by this data. After all, if you check our Wallbitex or zForex reviews you will realize many companies target wealthy countries. Luckily, refund options are there to help you recover money from these investment scams. For professional guidance, get in touch with our experts.

Traders Reviews

Based on reviews about NGCB Forex broker, many traders might think it’s a legitimate company. As can be seen, 9 out of 9 reviews on Trustpilot are positive. Thus, when you realize these reviews come from Nigerians there’s surely a little bit of doubt involved.

To avoid thinking about all potential problems, we suggest you apply for a refund as soon as possible. Don’t wait before it’s too late. Get in touch with our experts to start the procedure today.

Leverage, Commissions, Spreads, Fees and Taxes

When it comes to trading conditions with this broker traders can expect a lot of issues. Firstly because the leverage, fees, and commissions are not disclosed. But also, the spreads with the NGCB app can’t be trusted. Yes, the company advertises average spreads of 1.5 pips but if you will get those, remains a mystery.

Bonuses

Another problem with offshore regulated brokers is welcome bonus. Even though for some traders it might look like a benefit. In reality, bonuses are designed to keep traders trading and throwing money away. But when they decide to withdraw the money, bonus clauses will easily prevent them. If you check the company’s bonus policy you will find out.

NGCB Trading Features

Generally speaking, the company doesn’t promote any advanced features whatsoever. Neither copy trading, social trading, or auto-trading. Luckily, with the platforms offered by this brokerage, traders can expect at least a bit more sophisticated trading options. Such as netting, hedging, and scalping.

Trading Platforms Available

One of the reasons traders might trust this firm is the NGCB MT5 availability. Thus, they have to remember the company also provides proprietary NG Trader. So, the idea is to attract traders with MT5 which is a trusted and reliable platform but after a while to switch to NG Trader. That’s where the magic happens.

Available Trading Assets

Unfortunately, before traders complete the NGCB login procedure they won’t find out the whole instruments offer. So, we’ll have to trust the company’s presentation. In any case, without cryptos available, some traders will immediately start looking for another broker. Anyway, with this one you can trade: 

• Forex – GBP/CHF, USD/SEK
• Commodities – gold, crude oil
• Shares – Amazon, Netflix
• Indices – NASDAQ, DAX30

Account Types

Generally speaking, account types with this broker don’t reveal many benefits to traders. The only transparent advantage is the average starting spread of 0.5 pips. Fairly, not enough big reason to put more money in. Anyway, the options are: 

• Silver – $20
• Gold – $500
• Platinum – $4.000

Mobile Trading App

Mobile trading is becoming more and more important every day. That’s why trusted mobile apps make a big difference in choosing a broker. Since the company offers MT5, mobile apps for iOS and Android devices are available. However, NG Trader is only available in the form of a web trader. So, watch out.

Demo Account

Even though a demo account is usually in the offer when a company offers MT5, that’s not the case with this broker. Neither do they offer it on the NG Trader. But to be fair, they would expose all their flaws if they offered it.

Education

Trading education is only worth it if it’s offered by top-tier licensed firms. Everything else is highly speculative. To make everything worse, this broker claims to offer it. Yet, it’s only a few answers to basic trading questions. If you are looking for webinars or live sessions, look elsewhere.

NGCB Withdrawal

Generally speaking, the company offers a wide range of withdrawal methods. Thus, if they will provide a withdrawal it’s highly speculative. After all, the company is not regulated properly and they offer services to US traders. So, what else to expect with the NGCB withdrawal procedure? Not to mention fees are not disclosed.

Customer Support

Even though the company provides traders with phone numbers and e-mail, the operating hours of the support team are not revealed. Consequently, you shouldn’t raise much hope in their assistance regardless of your demands.

Key Information To Consider About NGCB?

First and foremost, the company doesn’t have any top-tier licenses. Secondly, trading conditions and withdrawal policies are hidden. Lastly, but most importantly, they offer services to US traders without authorization.

All in all, to many details traders with NGCB scam broker you have to worry about. Still, with their potentially lucrative offers, we can understand how traders become their clients. That’s why we recommend you withdraw your money immediately. In case you experience any trouble, contact our refund experts for advice.

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