Mysterious yet promising, that’s how the broker NGL INVESTMENT could be described. Rising to the pinnacle of the trading world, it boldly claims to have nearly two decades of experience. However, the devil is in the details, and user reviews tell a different story. The words “scam” frequently emerge in connection with this broker, casting doubt and suspicion. Let’s uncover the truth behind the mask of this company.
- NGL INVESTMENT General Information
- Registration and Client Portal Review
- NGL INVESTMENT Trading Conditions
- Account Types Review
- Trading Platform
- NGL INVESTMENT — Deposit and Withdrawal of Funds
- Is NGL INVESTMENT a Scam?
- Legal Information and License
- Nglinvesttr11.com Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
NGL INVESTMENT General Information
|Phone Number||+357 25 056426|
|Address||Limassol – Cyprus|
|Leverage||Up to 1:200|
Registration and Client Portal Review
The official website of NGL INVESTMENT looks more aggressive than appealing, perhaps due to its sharp color scheme. However, it’s worth noting that the unpleasant impression is mostly limited to the homepage. As you navigate further, the website becomes quite typical. There’s nothing supernaturally striking here. You’ll find the usual stock photos and plenty of unnecessary fluff that add no value to traders, as well as the customary emphasis on listing the broker’s advantages.
The registration process at NGL INVESTMENT is quite intriguing. Despite the website offering only English and Chinese languages, they ask you to fill out the form in Turkish. There’s no option to switch languages. Judging by the domain, they randomly assign you to one of the broker’s branches. It’s not particularly user-friendly. Intuitively, you can understand what data is being requested in the form, but it still feels unfinished.
In the Client Portal, you’ll be informed that your account is currently at the first level, and you can only trade at the second level, which requires verification. And yes, once again, everything is in Turkish.
As for how to change the language to something more understandable, we’re clueless. There are no obvious language switches, which is highly inconvenient for the majority of users. It’s puzzling why a broker supposedly registered in England doesn’t even have a Client Portal in English.
NGL INVESTMENT Trading Conditions
We are already curious about the trading conditions offered by this mysterious broker. It claims to be the most powerful platform in the world, but such statements are hard to believe.
Account Types Review
On the website, there is a mysterious tab called “Account” in the singular form. So we conclude that the broker indeed has only one account, unlike the usual multiple account options. Moreover, this section lacks any description of the account. It only offers registration or login options to access the platform. All the information NGL INVESTMENT provides about its trading conditions can only be gathered bit by bit. The website doesn’t mention the minimum deposit, spreads, commissions, swaps, or other details. It only mentions that clients have access to leverage ranging from 1:10 to 1:200. However, it’s not specified what determines the leverage size, whether it depends on the account type or the instrument.
Considering the variety of trading assets offered by NGL INVESTMENT, we can confidently say that they are all CFD contracts because one platform typically doesn’t trade cryptocurrencies and commodities, for example. And that’s all the information the broker provides to its clients.
Another enigmatic aspect of NGL INVESTMENT is the trading platform. Judging from the presentation, the broker wants to convey that it is their proprietary development. However, we haven’t heard of such a terminal. The platform can only be downloaded from the Client Portal. However, at the time of writing this review, none of the download links work. They simply redirect users back to the download page. None of the links in this section work properly, so the platform remains a mystery to us. By the way, NGL INVESTMENT doesn’t offer a demo account.
NGL INVESTMENT — Deposit and Withdrawal of Funds
In the Client Portal, there are only two ways to deposit funds. You can transfer money via bank transfer in Turkish Lira or US Dollars, or use cryptocurrencies. The same methods are possibly used for withdrawals, but it’s impossible to verify this at the first level. Only at the second level can you explore these options.
The verification process at NGL INVESTMENT is a necessary step to ensure the security and compliance of the platform. Traders are required to complete the verification procedure to access certain features and services. You’ll need:
- Proof of Identity (valid passport, national identity card, driver’s license).
- Proof of Address (utility bill, bank statement).
- Additional Documents (proof of source of funds if requested; selfie with the provided documents for identity verification).
It’s important to note that NGL INVESTMENT may request additional documents or variations of the listed ones based on individual circumstances. Once the documents are submitted, the broker’s team will review and verify the information provided.
Is NGL INVESTMENT a Scam?
Looking at the lack of information on the broker’s website, it’s only natural to have doubts about its legitimacy. Let’s take a closer look together to assess whether it’s safe to collaborate with NGL INVESTMENT.
Legal Information and License
NGL INVESTMENT claims to operate under a UK license, even providing a license number on their website – 140725. Unfortunately, this information seems to be nothing more than a string of digits. There is no company with that number listed in the UK Companies House or the Financial Conduct Authority (FCA), which is the regulatory body responsible for granting licenses to brokers.
Furthermore, there is no similar entity listed among the regulated entities in Cyprus, a common jurisdiction for brokers.
In fact, we couldn’t find any company with the exact name through a basic search. The only somewhat similar match we came across was a company called NGL Investments in the Georgian registry. However, the difference in the name, being “NGL INVESTMENT” instead of “NGL Investments,” is quite significant. Therefore, we can conclude that the broker is simply deceiving traders, as there is no evidence of any valid license or registration in any country.
Nglinvesttr11.com Domain Info
We were intrigued by the domain itself. Typically, brokers choose such domains when their desired domain is already taken or when they have multiple domains for different geographical regions. However, based on reviews and available information online, NGL INVESTMENT appears to be a newcomer. This is further confirmed by the Whois service, which indicates that the domain was registered on March 17, 2023. Thus, all the claims about a twenty-year experience turn out to be false.
Notably, NGL INVESTMENT does not provide any office address anywhere. The lack of this information, combined with other red flags, strongly suggests that it is illegitimate. However, they do provide an email address and a contact phone number.
Pros and Cons
- Fake legal data.
- False legend
- Short lifespan
- No license
- No official registration.
Frequently Asked Questions (FAQ)
NGL INVESTMENT offers CFD trading on five types of assets.
Unfortunately, the broker doesn’t mention this information on its website.
No, no way. NGL INVESTMENT is just an anonymous scam.