FX NextGen Review
FX NextGen Review – An Introduction
Headquartered in Georgia at City Kutaisi, Avtomshenebeli Street No 88, Kutaisi Howling Free Industrial Zone, FX NextGen, a startup company primarily into forex brokerage has been offering a variety of market spreads for its traders. Since its founders were traders themselves at their early stages, the company claims to be the best in knowing the trading market and affirms to provide the best market statistics for trading. The company also claims to operate on 3 pillars – Integrity, Competitive and Transparent and offering 3 different trading accounts – Platform 4 Desktop, Platform 5 Desktop, and Mobile Platform. It has also created a nice looking two-page withdrawal and refund policy, available on the website, for its traders.
Is FX NextGen a scam or a legit broker?
Now when we have learned some good things about FX NextGen, let’s also find out whether this company with a flashy website and a lot of mouth-watering offerings is worth or not trading with. Sky touching promises to its traders and delivering little or nothing has become one trend in this company. How? Let’s go through some facts that will answer the “how”.
- First, this broker company is registered under the Republic of Georgia, wherein, any broker company, operating officially, in Georgia is supposed to get registered under the National Bank of Georgia and not under anybody else.
- Second, it carries a business license from Hauling Free Industrial Zone which is absolutely fake because the license provider is not, at all, the regulatory authority in the country.
- Third, the Austria FMA has issued a warning against FX Nextgen stating that it is not authorized to carry out any financial transactions officially and hence is banned from commercial trading.
- Fourth, it has been officially declared to be one of the risky and dangerous platforms for forex trading.
- Fifth, the number of testimonials written by the victims of FX Nextgen will clearly prove that they all failed to get their withdrawals and refunds and the broker is undoubtedly a fraud.
The account managers are so well trained to pounce on investors or traders who seem to be the easy targets and convince them in such a way that the unsuspecting investors turn out to be their victims over time. The broker does not even guarantee any security of funds to the traders. It also does not provide any security features or Firewall which means your personal information or data may be at risk. It’s a dishonest platform with a lack of secured encryption. According to its withdrawal policy, traders or investors can only withdraw via Bank transfer or Bitcoin, which, as per the victims, never happened. The victims specifically mentioned in their review testimonials that when they tried to withdraw their own funds, the accounts managers of the company calls and claims that the bank is not accepting their system, which is a complete lie. This is just a way of not giving the money back.
Traders or investors should stay away from this unauthorized forex brokerage platform and not fill the pockets of the scammers with their hard-earned money. Although, the broker has not been exposed properly but soon will be marked blacklisted.