The inception of NorthFinTechFX dates back to 2017. It promises profitable and reliable brokerage services including CFD’s on FX pairs, Indexes and some commodities. Read the full NorthFinTechFX review here. The broker is registered on the islands of SVG and accepts payments via Bitcoins as well. The broker is so obsessed with Bitcoin payment that it does not perform KYC for clients those who pay with Bitcoins. Nevertheless, the broker under the scanner is not regulated and it is our major concern. In this NorthFinTechFX review, we will share valuable information about it. Don’t be hesitant to follow this particular review word by word.
It seems that the broker NorthFinTechFX provides only one trading account whose required minimum deposit is unknown. There are two types of trading platforms in the offerings Meta Trader and Web Trader. The Meta Trader no doubt is worlds most appreciated trading platform however it is provided by the third party called Change LTD. The Change LTD is an unknown entity and we don’t know anything about it. The provided spreads are different according to the trading platform. The spreads on Web Trader is 2.3 pips and on Meta Trader is 1.5 pips on the same fx pair of EURUSD. These offered spreads are quite higher than accepted. The lower spreads are feasible and reduce the actual cost of trading. The leverages as high as 1:500 is offered. The higher leverage levels are attractive but they can cause major losses. In addition to it, the broker NorthFinTechFX does not provide Negative Balance Protection that is helpful in higher leverage levels. It means no protection to trader’s funds. The broker is situated in the islands of Saint Vincent and the Grenadines the territory is known for the hub of many scam brokers. SVG based brokers do not require regulation of any kind of financial regulators. It means the broker can handle traders funds the way he wants without any permission and protection to it. The broke was established recently and does not have any credibility. The main question is that any trader can make money with NorthFinTechFX? The answer is straightforward – NO.
Is NorthFinTechFX scam or legit?
The broker NorthFinTechFX is registered on the islands of Saint Vincent and the Grenadines, an offshore territory that is the hub of scam bakers. The trading conditions are not attractive and increase the actual cost of trading. They are also loss oriented. Minimum deposit required is unknown and MetaTrader provided by another company. In short, the broker is a potential scam broker 2020.