DON’T USE THIS BROKER: Nekstra review

In this review we explain why Nekstra is a broker that you should not trade with.

About Nekstra

Nekstra reviewAt first sight Nekstra is an ordinary CFD (contract for difference) broker. It will let you trade currency pairs on Forex, commodities, indices and stocks.

To open a real account you will need at least 250 USD. You will get a 20% deposit bonus. Higher accounts require higher minimum deposits and come with higher bonuses and trading signals. It is unclear if Nekstra offers a demo account, we could not find the link to open one.

The broker is owned by Plus One Ltd., which is a company from Saint Vincent and the Grenadines.

Beware of Nekstra

There are several red flags that you should be aware of. They give you good reasons not trade with Nekstra.

More or less anonymous

Contact informationA broker based in Saint Vincent and the Grenadines is unfortunately a bad sign. This broker gives you just an e-mail address and a P.O. box if you want to contact it. You won’t even find a phone number!

A lot of scam brokers are based in Saint Vincent and the Grenadines, at least they claim so. We suspect they physically are never present there, they just hire a postal address and hide elsewhere.

So, as we cannot really tell who really owns and run the broker, it is a red flag that cannot be ignored.

Also, deposit bonuses offered by a broker are also a red flag, since they have been forbidden in most countries for quite a while now.

Illegal investment service

The company is not regulatedThe vast majority of countries in the world require brokers to be regulated. It means that a broker needs a license valid in every country it wants to have clients in.

What about Nekstra? It is not regulated, it has no license whatsoever. It means that it cannot legally offer it services in almost any country in the world!

It also means that nobody is overseeing what the broker is doing and clients’ deposits are not insured, unlike with regulated brokers.

Last but not least, if you run into problems with Nekstra, it will be extremely hard to find somebody who could help you, since no regulator has powers over this company. The broker can basically disappear from one day to another and nobody will know what really happened.

Conclusion

Nekstra is a broker that is not regulated, it cannot legally offer it services in most countries in the world. Your money would not be protected with this company, stay away from it!

For trading you should always used only regulated brokers that are under control of independent authorities.

1 thought on “DON’T USE THIS BROKER: Nekstra review

Leave a Reply

Your email address will not be published. Required fields are marked *