Next Level Pro Traders is an online platform that claims to provide trading in financial products such as forex, cryptocurrencies, indices, stocks, energy, and commodities. However, investigations have revealed multiple irregularities and potential scam risks associated with the platform, warranting caution for investors.
Company Background:
The domain for Next Level Pro Traders was registered on October 7, 2024, and the website lists its operating address as 20-22 Wenlock Road, London, UK, N1 7GU. However, upon verification, no company registration matching the platform's name could be found. The only similar entity is NEXT LEVEL TRADERS LIMITED, which is not directly affiliated with the platform. This raises questions about the platform's legitimacy, suggesting it may not be officially registered in the UK.
Regulatory Information:
Next Level Pro Traders claims to be regulated by the Australian Securities and Investments Commission (ASIC), but further investigation reveals that the platform is actually not regulated by any authority. Unregulated financial platforms often lack mechanisms for fund and user protection, making it unsafe for investors.
Account Registration Process:
According to the platform’s displayed process, users can register an account by following these steps:
- Log in to the official website and click the registration button.
- Fill out the application form.
- Submit identity verification and number verification documents.
- Deposit funds and start trading.
However, the registration process is simple and lacks rigorous identity verification measures, making such platforms easy tools for fraudsters.
Account Types:
Next Level Pro Traders offers three different account types, each promising extremely high profit expectations to entice investors to deposit significant funds:
- STARTER ACCOUNT: Minimum deposit of £500, expected profits ranging from £3,500 to £5,000.
- CLASSIC ACCOUNT: Minimum deposit of £5,000, expected profits ranging from £45,000 to £50,000.
- PLATINUM ACCOUNT: Minimum deposit of £10,000, expected profit of £99,999.
Such high promises of profit are very enticing, but in regulated financial markets, no platform can legally guarantee a specific profit level, which is often a sign of potential fraud.
Trading Software and Products:
As of now, Next Level Pro Traders has not disclosed the trading software it uses, which is highly unusual for a professional financial platform where transparency about trading tools and technical support is standard. Additionally, although the platform claims to offer trading in forex, cryptocurrencies, indices, stocks, energy, and commodities, it lacks detailed explanations of specific products.
What are the Spreads, Leverage, and Commissions?
The platform offers leverage up to 1:500 and commissions as low as 0.08%. Although these conditions seem attractive, on an unregulated and non-transparent platform, high leverage can actually increase the risk to investor funds.
What are the Deposit and Withdrawal Methods?
Next Level Pro Traders does not provide specific information about deposit and withdrawal methods, which further increases the risks to fund security. Regulated platforms typically clearly list all deposit and withdrawal channels, along with respective fees and processing times, whereas such vague information might imply restricted or opaque fund movement.
Customer Support:
Email: support@nextlevelprotraders.com
Summary:
Next Level Pro Traders exhibits multiple risk factors, including lack of regulation, opaque company information, promises of high returns, and ambiguous fund management mechanisms, all indicating the potential for fraud. For investors, it is crucial to choose platforms that are regulated and have transparent operational information. Avoid being lured by promises of high returns that could result in unnecessary financial losses.
