News-Traders Review Is News-traders.com A Scam Broker

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News-Traders Review: Is News-traders.com A Scam Broker?

News-traders.com Review: this is the website of a Forex broker that withholds its location information. Is News-Traders a legit broker or scam? It is important that traders know if their invested funds are safe with a broker. Read the details of what we found out about this broker.

The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.

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News-Traders does not mention where it is located which makes it impossible to check its license information. This is rarely a mistake but a popular tactic used by unlicensed companies to stay under the rather. We see through this and do not appreciate it. Licensed companies are always forthcoming with registration details.

This is a big disadvantage because trading with a Forex broker that is unlicensed poses many dangers to traders’ funds. Misappropriated funds may not be recoverable by the government as well. Unlicensed brokerages are not under any rules of traders and this puts traders in more risk than they will be in if they had chosen properly licensed ones.

Advantages of News-Traders

News Traders website does not reveal any spectacular feature. They mention the common things like a wide selection of investment options and low-cost commissions. It, however, mentions having a trading mobile app that is available in the App store. The broker uses an ultra-low latency trading system that speeds up trade execution time and improves profit-making chances.

It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

News-Traders Trading Platform

The type of trading platform used by clients of News-Traders is the MT4. We advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating systems. All can be used on desktops, Linus, Windows, iOS, and Android.

Tools that come with these trading platforms are also found to be useful for traders. It has proven to be user-friendly as well and helps traders in analyzing the market easily.

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Trading instruments offered to traders are stocks, ETFs, Options, and Margin trading. We find this discouraging because legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

The maximum leverage offered to clients is not mentioned and while some may seem generous, they are not advised. Spreads are fixed at 3 pips.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on News-Traders

The means of making deposits and withdrawals with this broker are Vogue Pay and Crypto coins. We do not feel assured by these transaction options because standard and legit brokers make deposits and withdrawals available via Visa, MasterCard, and Wire Transfer. Many offer e-wallets like Skrill, Neteller, UnionPay, FasaPay, and so on.

A minimum deposit of $250 is required and this is within the obtainable average of $100 to $250 that is common among legit brokers. The inactivity fee is $100 per month after 45 days of not trading. Withdrawals are completed within 5 to 7 business days.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is News-Traders Licensed?

No. News-Traders is not a properly licensed and registered broker. There is no mention of any sort of regulation on the page as well.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

To contact the broker or its customer service, dial +41 43 50 89232 or email [email protected]

Conclusion

News-Traders is rated poorly because it is unlicensed and the trading conditions are unclear. It does not list the common trading instruments among its portfolio. We find its minimum deposit encouraging and the use of MetaTrader 4 as well. Transaction methods are limited. If you have anything to say about this broker, do so in the comment section.

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News-Traders Review: Is News-traders.com A Scam Broker?

After doing some research, we found out that a lot of traders are reporting News Traders and writting bad reviews about it.
It seems like they are not happy about it and they warn others not to trade with them.

It’s always important to know what other traders are thiking about a broker before using it and we can say that they are not saying good things about News Traders.

What do regulators say about News Traders ?

This is the most important thing you need to know about a broker before using it. Is News Traders regulated ? Is it an offshore company ?

Most brokers are unregulated or regulated by an offshore regulation authority which won’t help you in case of problem. Keep in mind that if a broker steal your funds, you won’t be able to complaint about it unless they are licensed by a serious regulator such as the CySEC (Cyprus Securities and Exchange Commission).

An unregulated broker is clearly not authorized to operate in any regulated country and you should definitely not put any money into it.

News Traders is an unregulated offshore broker owned by News Traders Limited and located at Suite 305, Griffith Corporate Centre, Kingstown, St. Vincent & the Grenadines.

They can be contacted by phone at this number : +41435089232 or you can send an email to [email protected]

You should definitely avoid any unregulated or offshore broker and News Traders is one of them.

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News-Traders Review – is it scam or safe?

News-Traders is an offshore forex and CFD broker based in St Vincent and the Grenadines, offering four account types with a choice between MetaTrader4 and a web based trading platform.

Account type Min. deposit Max. leverage Spread s
Classic Account $250 n/a n/a
VIP Account $10 000 n/a 3 pips, fixed
Gold Account $25 000 n/a 3 pips, fixed
Platinum Account $50 000 n/a 3 pips, fixed

Unfortunately the broker is not regulated, so if you are thinking about trading with them be sure to read this review first.

News-Traders Advantages:

We try to list any positive features about our brokers in the beginning of our reviews and here with News-Traders that might be the fact that they offer MetaTrader4. They do that through a third party – Trading Technologies Ltd., which is not a standard practice, and yet we will credit them for it.

MetaTrader4 is a highly reliable trading platform, featuring lots of in build market indicators and even trading robots with the help of which one can easily run automated trading sessions. The platform also comes with a user friendly set of advanced charting tools, so here you may also check our list of brokers supporting MT4:

Unregulated, offshore broker

This is a major issue. We understand that News-Traders is owned and operated by News Traders Limited, an offshore company, based on St Vincent and the Grenadines, which is not licensed and authorized to offer any financial services on regulated markets like the EU, including the UK for example.

Trading with unregulated brokers has always been extremely risky as they are completely unaccountable for the way they handle your money and more often than not are simply involved in scam.

That is why our general advise has always been to trade only with properly regulated brokers, licensed by official institutions like the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), or the Cyprus Securities and Exchange Commission (CySEC).

And because with a FCA broker your funds will even be protected by a client compensation fund, covering the first 85 000 GBP in your trading account, here you may also check our list of brokers regulated in the UK:

Market Maker offering managed accounts

As most other brokers News-Traders is a market maker, which means that they make money whenever traders lose. And there is nothing bad with this, except when a market maker offers its clients to manage their accounts. In this case we have a conflict of interest. And that is exactly the case with News-Traders – they offer their clients some unproven auto- trading software, which comes with a minimum trade volume requirement and a promise of fast and easy returns.

Unusual fees and withdraw processing time

Another issue with News-Traders is their 100 USD monthly inactivity fee, which they charge after just 45 days without trading. Bear in mind that legit broker may charge such a fee only if you have not logged into your trading account for over a year.

Also, News-Traders says it will take them 5 to 7 business days to process your withdraw request, while with most legit brokers that period is never longer than 24 hours.

No demo account directly available

Unfortunately we were not immediately able to open a demo account and that is why we can not commend on the News-Traders spreads. Just bear in mind that spreads are considered acceptable only if they start below 1,5 pips. Here you may check our list of brokers, offering tighter spreads:

News-Traders is low credibility, offshore broker, which we can not recommend for obvious reasons – it is not regulated and it offers managed accounts, while acting as a market maker. In fact this sounds to us as a clear recipe for a scam. Once again, be sure to trade only with properly regulated brokers like the ones authorized by the FCA in the UK, CySEC in Cyprus and ASIC in Australia.

Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

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