NWF Limited, founded by Min Htike Aung in 2020, is a Contract for Difference (CFD) broker based in Yangon, Myanmar. It primarily offers CFD trading services for forex, ETFs, commodities, stocks, and more. The official website of this broker is https://www.newworldfinancialgroup.co/, with language support in English and Burmese.
Company Background:
NWF Limited's official website claims its establishment in Myanmar in 2019, with a specific office address at KABAR AYE PAGODA ROAD,10,11,12, CONNECTING FLOOR, MYANMAR CENTRE TOWER 2,192, BAHAN TOWNSHIP, YANGON REGION, MYANMAR. However, according to information from the Myanmar Directorate of Investment and Company Administration (DICA), the broker was registered in 2020 with the enterprise number 125506852, and the director listed is DAW EI MON THINZAR. As per Whois records, the domain name for their official website was registered on April 29,2020.
Regulatory Information:
NWF Limited is not regulated by any regulatory authority. This lack of regulation may pose higher risks in terms of asset safety, investor protection, and risk mitigation compared to regulated brokers. Investors should exercise caution when considering the services of this broker to safeguard their financial interests.
Trading Products:
NWF Limited offers a variety of financial instruments for user trading, including:
Forex: NWF Limited provides opportunities to trade various currency pairs in the forex market through CFDs. Forex CFDs enable investors to speculate on price movements between one currency and another. Examples of available currency pairs include EUR/USD, GBP/USD, and USD/JPY, among others.
Commodities: Commodity CFDs allow investors to potentially profit from price fluctuations in commodities like crude oil, copper, and iron ore, without physically owning the underlying assets.
Stocks: Traders can engage in CFD trading of stocks from different companies, including well-known names like Apple, Microsoft, and Amazon. This allows investors to participate in the market without owning actual shares.
ETFs: NWF Limited offers CFD trading for Exchange-Traded Funds (ETFs), enabling investors to engage in ETF markets without holding physical ETF units.
These products not only provide opportunities for investors to access different financial markets but also enable them to manage risk through diversified portfolios.
Account Registration:
NWF Limited's official website provides a link for account registration, but it is not clear whether it is for live or demo accounts. The registration process typically involves providing details such as name, phone number, email, and other required information on the website.
Account Types:
Information about account types, commissions, and minimum deposits is not publicly available on the official website.
Spreads and Leverage:
NWF Limited offers spreads starting from 0.1, a maximum leverage of 1:200, and a minimum lot size of 0.01.
Trading Platform:
NWF Limited offers the widely recognized MT4 platform for forex trading. MT4 is known for its customizable interface, charting tools, and a range of built-in indicators like MACD, KDJ, CCI, etc., which assist investors in analyzing market trends and making informed trading decisions.
MT4 is renowned for its fast and reliable trade execution, making it a preferred choice for many investors and financial institutions. It is compatible with various devices, including PC, mobile, and web-based platforms, providing convenience to traders.
Deposits and Withdrawals:
NWF Limited supports various deposit and withdrawal methods, including e-wallets, credit/debit cards, and bank transfers, such as NETELLER, Skrill, VISA, and more. Investors can choose the method that suits their preferences.
Customer Support:
Investors can reach NWF Limited's customer support through Facebook, phone, and email during business hours from Monday to Friday, 8 AM to 5 PM. In case of urgent inquiries, a real-time phone contact option is available.
Summary:
NWF Limited offers users opportunities to trade a range of financial products, along with the popular MT4 platform. However, the broker has misrepresented its year of establishment, raising concerns of false advertising. Additionally, it operates without regulation, potentially posing issues related to asset safety, investor protection, and risk management. As of now, the broker has been marked as "suspected fraud" on TraderKnows, and users should exercise caution when considering their services to protect their financial interests and avoid falling into potential scams.
