NCXFX is a CFD broker with a domain registered on May 15, 2024. This broker primarily offers investment services in markets such as forex, digital currencies, metals, energy, futures, commodities, and indices. It does not offer services in countries or regions where it may violate local laws or regulations.
Company Registration and Regulatory Status:
According to publicly available information on the NCXFX website, the company entity registered in Colorado, USA is NCXFX GLOBAL LIMITED, with a registration number of 20201885207. The broker claims to be regulated by the Financial Crimes Enforcement Network (FinCEN) and the National Futures Association (NFA) in the USA, with MSB number 31000272134599 and NFA ID: 0564008.
Upon verification, a company named NCXFX GLOBAL LIMITED can be found in the Colorado State Information Marketplace and the FinCEN, with matching registration information provided on the broker's website. However, the NFA does not list a regulated company with NFA ID 0564008.
Moreover, the mission of FinCEN is to safeguard the financial system from illicit use by strategically utilizing financial authorities and collecting, analyzing, and disseminating financial intelligence to combat money laundering and related crimes, including terrorism, while promoting national security. Its constraints on normal financial derivatives trading are relatively low.
Therefore, NCXFX is essentially an unregulated fraudulent broker site.
Trading Products:
NCXFX offers a variety of trading products, including forex, indices, metals, commodities, and cryptocurrencies as CFDs.
- Forex: Forex trading involves the exchange of different currencies, known for its high liquidity, allowing traders to profit from exchange rate fluctuations.
- Indices: Index trading allows speculation on the overall performance of the market or specific sectors without trading individual stocks. By exploring popular indices, traders can discover diverse trading opportunities and use high leverage to enhance potential returns.
- Commodities: Commodity trading covers key resources on the global market, allowing traders to buy and sell various raw materials, including metals, energy, and agricultural products.
- Precious Metals: Precious metals trading refers to the buying and selling of gold, silver, platinum, and palladium in financial markets. Due to their scarcity and industrial use, precious metals are typically seen as a store of value and a hedge against inflation.
- Stocks: Stock CFDs allow traders to speculate on stock price movements without owning the underlying shares. These products let traders profit from price changes of these stocks without owning the underlying assets.
- Cryptocurrencies: Cryptocurrency trading provides opportunities for digital currency enthusiasts to profit from highly volatile assets.
Opening an Account:
To open a trading account with NCXFX, visit the broker’s website and click the “Open Account” button at the top right corner. Enter your email address and create a password. You will receive a verification code through the provided email. Enter the code in the registration form and submit it. Once registered, you need to complete a full KYC verification before making any deposits and trading.
Trading Account Information:
NCXFX offers two types of live trading accounts: STANDARD ACCOUNT and ECN ACCOUNT.
STANDARD ACCOUNT:
- Trading Platform: NCXFX
- Execution Speed: Instant Execution
- Products: Commodities, Futures CFDs
- Maximum Leverage: 1:500
- Spread: Starting from 1 pip
- Trading Commission: 0
- Minimum Deposit: $200
ECN ACCOUNT
- Trading Platform: NCXFX
- Execution Speed: Instant Execution
- Products: Commodities, Futures CFDs
- Maximum Leverage: 1:500
- Spread: Starting from 0 pips
- Trading Commission: $6 per round turn
- Minimum Deposit: $200
Trading Platform:
The NCXFX website claims to provide its proprietary trading platform, available both on the web and mobile. The mobile software is named Proket.
Deposits and Withdrawals:
NCXFX supports deposits and withdrawals via Mastercard, VISA, NETELLER, Skrill, and bank transfers.
Conclusion:
Traderknows reminds investors that NCXFX is actually a scam broker website with no valid regulation. The website does not disclose a genuine company operating address and does not provide any contact information. Investors are advised to choose brokers with transparent information, strong regulation, and a good reputation to avoid unnecessary financial losses.
Currently, this broker is labeled as "Suspected Fraud" on Traderknows.
