Nexon Groups Review: Is it a SCAM?

Nexon Groups claims that cryptocurrency is money. That’s why we have to use it. By usage here is meant trading. Unfortunately, 90% of crypto brokers are scams. Therefore, such companies should be checked with special care. Which is what we’re going to do. At the same time, let’s see what traders write about the project in the reviews.

Nexon Groups General Information

Website	https://nexongroups.com/, https://nexongroups.io/
Phone Number	+442081575967
Email	Support@Nexongroups.com
Address	10-16, Elm St, London WC1X 0BJ
License	—
Minimum Deposit	$2,500
Assets	CFDs
Leverage	—
Trading Platform	MetaTrader5

Registration and Client Portal Review

The official Nexon Groups website is not too similar to the platform of a reputable broker. Rather, it seems that this is some kind of HYIP. There are a lot of bright colors, painted pictures, and meaningless inserts in the design. Of course, the broker does not forget to praise itself. On the main page, you will find nothing but a list of its advantages. However, there is some legal information in the footer.

Registration on this platform is simplified. To get access to the client portal, you will need to fill out just one small form. Enter your first and last name, phone number, and email, and come up with a password.

However, no matter what we did, we failed to register. It seems that Nexon Groups has some problems with the registration form. We have checked our data countless times. Meanwhile, the form still stubbornly informed us that an error had occurred. We hope this problem will be fixed in the future. In the meantime, the broker has disappointed us very much because of such an annoying trifle.

Nexon Groups Trading Conditions

As you have already understood, Nexon Groups focuses on cryptocurrency. However, it would be a mistake to consider it only a crypto broker. It turns out that the company gives access to trade in different CFDs. These include currencies, indices, stocks, and other instruments. So we would rather call Nexon Groups a CFD broker. And now let’s look at its proposals in more detail.

Account Types Review

In total, Nexon Groups offers customers 6 types of accounts. After reading their description, we were left perplexed. Practically anything that is really important, the broker did not specify. As all scammers love, it came up with a bunch of near-market services. At the same time, its minimum deposit is huge. In the Starting account, it is installed on a note of $2,500. Of the additional services, a beginner is owed only a support service and an account supervisor. What is included in the duties of the latter is also not described.

The next account needs to be deposited 10 thousand dollars. It is called Basic here. Customers will not receive any special services either, only a 15% bonus to the account. As you guessed, Nexon Groups will provide all types of services to customers with premium accounts only. For example, if you transfer $1 million to a broker, it will provide you with:

• 25 risk-free trades
• Access to seminars
• Daily trading signals
• Ready-made trading strategies
• Analytical consulting
• Full market analysis
• Deposit bonus of 35%
• Trading support
• Professional scalping
• Guaranteed for all taxes done from Nexon Groups side.

What does the last point mean? We did not understand. The broker is not a tax agent in most countries. What is a tax guarantee? Is this a new term? In general, the trading accounts of Nexon Groups are rather left in confusion. What is the leverage of this broker? What are the spreads and swaps? What about commissions? It brings up more questions than answers.

Trading Platform

Nexon Groups claims to provide MetaTrader 5. And this is not official software. We don’t know what happened. Perhaps the broker is very greedy, so it decided not to pay for licensed programs and just stole them. And perhaps in the original MetaTrader 5, Nexon Groups built backups that allowed it to manipulate quotes, for example.

In any case, unlicensed software is very, very bad. Even on a smartphone, you can only download a file in apk format. By the way, MetaQuotes, the developer of MT5, places all its apps, including MT4/5, in the official PlayMarket and App Store. Trading on unlicensed terminals puts your money at great risk. Honest brokers never have to invent something. They go to the developer and buy software from it. Unlicensed platforms are a major red flag.

Nexon Groups — Deposit and Withdrawal of Funds

Nexon Group does not say anything about depositing methods. In the client agreement, there is only mention of credit cards, bank transfers, and SWIFT. As for the withdrawal methods, the available ones are listed in the Client Portal. One more point. Nexon Groups can set a limit on the number of withdrawal requests.

Verification

The Company reserves the right to ask the client to pass verification. The list of actions is standard. Traders have to upload documents to their personal accounts. Nexon Groups asks them to confirm their identity, address and, in some cases, take photos of credit cards. Unfortunately, the broker did not mention how long it will take to check these documents.

Additional Options

During the description of the accounts, we mentioned the deposit bonus. And it is not the only illegal service that Nexon Groups offers additionally. The company has a very interesting offer. It will accrue Investment Increase Returns on the balance of your deposit. Depending on the type of account, the yield varies from 2.5 to 33%. Of course, brokers have no right to offer guaranteed income on deposits. Also, there is not a single mention of where Nexon Groups takes money for payments to traders.

Everything else in this company does not deserve special attention. The analytics are untested. The signal generators are questionable. There is not a hint of a trading statement. Nexon Groups cannot confirm that its forecasts are worthwhile at all.

Is Nexon Groups a Scam?

Considering only the conditions of cooperation described above, we think Nexon Groups to be a fraudster. It is quite easy to prove this.

Legal Information and License

Nexon Groups claims to be registered in the UK. In the footer, investors can see the legal address and registration number. The management company Nexon Groups Limited is in the registry. However, the type of its activity is not brokerage services but fund management activities.

That’s not all the issue. To provide services legally, the broker must be authorized by the FCA. However, in the register of this regulator, there is no data on Nexon Groups. So, the company is unregulated and provides services without a license.

Nexongroups.io Domain Info

Nexon Groups was added to the register of England on November 21, 2022. Around the same time, the official website appeared. Checking the domain showed that it was rented on October 20th. However, they rented it out for only a year. That is not surprising. It is unlikely that this broker will last longer. It is already showing all the signs of a scam with its dubious software and lack of a license.

Warning! The article has been updated. For some reason, the scammers moved to the nexongroups.io domain. According to Whois.com, it was registered only on May 15, 2023. We keep following.

Contacts Review

There are no special problems with contacts. Nexon Groups specifies a phone number, an email, and even an address. Except traders sometimes complain that it is very difficult to get through to support.

More Details

We were very interested in the «Extension» section in the main menu. When we opened it, we were speechless. Here is literally everything that scammers love so much! If you want, download AnyDesk to your PC or a TeamViewer, whatever. However, after that, don’t forget to say goodbye to your money!

Speaking seriously, please never install such programs on your computer or smartphone. Fraudsters need them to gain access to your desktop and important data. Careless customers lose thousands of dollars around the world by installing these programs. Scammers simply rob their accounts, take loans on them, etc.

Pros and Cons

 

Frequently Asked Questions (FAQ)