NLM 86 Limited Review: “Over Five Years of Experience” or a SCAM?

We are introducing yet another representative of scam brokers. Ladies and gentlemen, please welcome NLM 86 Limited, a company with “over five years of experience” in providing CFD contract trading services. The project boasts super advantageous conditions, lightning-fast order execution, and incredibly lucrative additional options for traders. However, we are absolutely certain that all these “super” promises are worth nothing, and we are ready to prove it to everyone. Read our concise overview of company details. We hope this will prevent you from making the mistaken decision of entrusting your funds to yet another set of fraudsters.

NLM 86 Limited General Information

Registration and Client Portal Review

The creators of the NLM 86 Limited website are adept at providing every visitor with a few vivid impressions. Let’s begin, perhaps, with the main banner on the homepage. The background video and the slogan claiming that with this broker, one can buy anything that money can purchase, are meant to convey to traders that they have entered a reputable company.

However, this is likely the only noteworthy aspect here. Everything else is so generic and dull that it induces yawns.

The registration process with the broker is straightforward. To create an account, users are required to fill out a basic form. Curiously, the broker appears indifferent to the typical email or phone verification steps that are common in the industry. Upon completion of the registration form, traders gain immediate access to the Client Portal without undergoing these customary verification measures.

The personal account of NLM 86 Limited appears quite standard, offering the following functionalities:

• Fill out or edit your profile information.
• Undergo verification process.
• Deposit funds and request withdrawals.
• View transaction history.
• Contact customer support.

Access to the web terminal, including the mobile version, is directly available from the personal account. Additional authorization is not required as the login credentials for both the platform and personal account are shared. However, this approach may raise concerns about the security of client funds.

NLM 86 Limited Trading Conditions

Given the broker’s bold claims, we are expecting to find excellent trading conditions here. Let’s delve into them and examine what they have to offer.

Account Types Review

NLM 86 Limited does not offer a demo account. Clients can only open a real account, which is divided into five different types. Four of these accounts are quite standard, differing mainly in their minimum deposit requirements and additional services. For instance, the Forex account can be opened with a minimum deposit of just 100 pounds, providing traders with daily analysis as an additional service. The next account is called Commodity, requiring a deposit of 5,000 pounds. This account offers more additional services, including access to webinars and reduced commissions.

Another account option is Stock Market, where the minimum deposit is significantly higher at 25,000 pounds. Interesting additional services include copy trading and an individual trading plan. Lastly, there’s the Cryptocurrency account, which requires a deposit of 75,000 pounds. Traders are promised services such as arbitrage, account insurance, and professional investor accreditation.

There is also a fifth account type, but it’s an investment account, and the broker does not disclose the required deposit amount. It promises returns of 21-37%, but NLM 86 Limited remains silent about how it generates profits. Besides, it generally follows an approach where wealthier clients receive the most services, which raises concerns.

Trading Platform

The trading platform offered by NLM 86 Limited leaves much to be desired. It appears quite lackluster and falls short in terms of providing a comprehensive trading experience. One of the most glaring issues is the platform’s limited selection of indicators, which can significantly hamper the analytical capabilities of more experienced traders.

While the platform does boast straightforward functionality that could potentially benefit newcomers to trading, it lacks the depth and advanced features that many seasoned traders rely on.

NLM 86 Limited — Deposit and Withdrawal of Funds

NLM 86 Limited offers several options for depositing funds, including credit cards, cryptocurrencies, and the SEPA payment system. However, when it comes to withdrawing funds, clients are limited to bank transfers or Bitcoin transactions. Surprisingly, NLM 86 Limited conveniently avoids providing transparent information about the associated fees and commissions, leaving clients in the dark about the potential costs of their transactions.

Verification

The standard verification process at NLM 86 Limited involves submitting accurate personal information, valid identification documents, proof of address, and verifying contact details. The broker’s verification team reviews the submitted documents, and upon successful verification, clients gain access to their account’s full functionality.

Additional Options

NLM 86 Limited offers a plethora of additional services, some of which we have highlighted. These services include various forms of analysis, copy trading, and even investment opportunities. However, intriguingly, we couldn’t find any readily available functionality related to these offerings within the client portal. This raises suspicions that these features might be more of a standard marketing tactic rather than tangible services provided by the broker.

Is NLM 86 Limited a Scam?

The NLM 86 Limited website bears striking resemblance to numerous other similar pseudo-brokers. Here, users will encounter trading conditions that are typical of analogous fraudulent schemes. We will continue our investigation further.

Legal Information and License

The owners of NLM 86 Limited boast about their registration in the United Kingdom and their head office in London. Verifying this information is relatively straightforward. Indeed, such a company was found in Companies House.

Established in November 2017, the company is active and operates in the realm of financial intermediation not classified under other categories (BIC 64999).

More detailed information can be found on aggregator websites, such as endole.co.uk. For instance, it indicates that NLM 86 Limited holds the status of a micro-entity and employs just 1 individual. Furthermore, its total capital reached 229,000 pounds by the end of 2021 (four years after its founding). In other words, there’s no doubt that these figures don’t align with those of a well-known, prominent broker and “leading provider of trading services.”

Of course, every broker operating in the United Kingdom must possess a license from the local regulator, the FCA. It would be expected to find such a license for NLM 86 Limited. And indeed, it is present!

However, to the dismay of the NLM 86 Limited project owners, the company is not entitled to operate in the claimed capacity. It has obtained a license as an appointed representative of the existing company, Alfred Vaughan & Co Limited. Accordingly, the activities of a representative are determined by the type of license held by the principal company.

At the same time, Alfred Vaughan & Co Ltd. is a credit broker, capable of offering debt management consultations, but it is not authorized to handle or manage client funds. These same restrictions extend to its representative, NLM 86 Limited.

Hence, it becomes evident that NLM 86 Limited is a project that merely cloaks itself under the name of an existing firm, lacking proper registration and license, and consequently operates illegally. In fact, this aligns precisely with the points we raised earlier.

Nlm86limited.com Domain Info

In the “About Us” section, the creators of NLM 86 Limited assert that the company has been operating in the industry for over 5 years (which, by the way, aligns with the actual founding time of the real company). However, on another page (as we have previously mentioned), they claim that over the past decade, their “mission has been to facilitate investor access to global markets.”

The whois service reveals that the broker’s website was only created in July 2023. Consequently, we have yet another confirmation of the unreliability of the information provided by NLM 86 Limited.

Contacts Review

The broker provides contact information including a phone number, email address, and even an office address. However, it is clear that the latter is most likely fake. Pseudo-brokers typically do not have actual physical offices.

Pros and Cons

3.0 TOTAL SCORE

NLM 86 Limited Summary

NLM 86 Limited appears to be nothing more than a counterfeit operation, following a prevalent pattern of deception. Exercise caution and remain vigilant to avoid falling into this trap. Stay alert, as this is a common scheme, and take every measure to protect yourself from potential harm.

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Website information content 4

Client Portal 3

Trading conditions 3

Trading platform 3

Deposit and withdrawal 4

Verification 4

Extra options 4

Licenses and guarantees 1

Work duration 1

Feedback 3

Frequently Asked Questions (FAQ)