The world of online trading is becoming increasingly popular, with many people looking to make quick profits by investing in various financial markets. However, with the rise of online trading comes the rise of fraudulent brokers looking to scam unsuspecting investors. One such broker is NFTproX, and in this review, we will take a closer look at this company and why you should avoid them.
Company Overview
Broker Name | NFTproX |
Website | https://nftprox.com |
Location | 88 Gresham Street, London England, EC2V 7NG, UK |
Regulation | Not regulated |
Traders’ review | Negative |
In the location they provided, there is no office registered for this company. We searched the UK Government Find and Update Company Information website. They are not registered there too.
Team
NFTproX does not provide any information about its team members. On their about us page, they placed a paid video with some generic stock footage. There is no information about their team members.
Services or Products
NFTproX’s website shows they are trading with NFT collection. They have several packages for their NFT collectibles and they offer investment options on these NFTs. If you invest in any of their packages, they will give you a portion of your daily profit.
Trading Platforms
NFTproX does not mention any trading platforms they use, which is another red flag. Trading platforms are essential for online trading, and not providing this information suggests the company may not have any trading platforms at all. You can buy any of the NFT collections from their explore page after signing up.
License and Regulations
License Status
NFTproX is not a licensed broker. They do not provide any information about the regulatory bodies they are registered with, which is a significant concern for potential investors.
Regulation Status
Being unregulated means that NFTproX is not accountable to any regulatory body. This lack of oversight creates a risk of fraud and puts investors at risk of losing their funds. As they are situated in the UK, we tried with FCA to find their regulation status. But, we found they are not even registered in FCA.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Why Dealing With Unlicensed Brokers Is Risky?
Unlicensed brokers operate outside the law and are not held accountable for their actions. They often lure investors with false promises of high returns and then disappear with their funds. Dealing with unlicensed brokers is a significant risk, and investors should always choose regulated brokers.
Legal Warnings Against NFTproX
Several regulatory bodies, including the UK’s Financial Conduct Authority (FCA), have issued warnings against NFTproX. The FCA warns that NFTproX is operating without their authorization and advises investors to avoid them.
Client Feedback About NFTproX
About Trading
Several clients have reported negative experiences with NFTproX, including losing money in trades and difficulty withdrawing funds.
About Customer Service
Clients have also reported poor customer service, with difficulty getting in touch with NFTproX and a lack of response to complaints.
How Can FXfarmupdate Help You If You Get Scammed?
FXfarmupdate is a website dedicated to helping victims of online trading scams. We provide guidance on how to recover lost funds and how to report scams to the appropriate authorities. When you submit your case through our website form, you will get a free consultation and service recommendations to get help in retrieving your lost fund.Â
Final Thought
Based on the information provided, it is clear that NFTproX is not a trustworthy broker. Their lack of transparency regarding their location, team, services, and trading platforms, coupled with their unlicensed and unregulated status, makes them a significant risk to investors. The numerous negative client feedback and legal warnings against them only reinforce this fact. Investors should avoid NFTproX and only choose regulated brokers to ensure the safety of their funds.
