NordEquity, despite its cold-sounding name, turns out to be quite a hot broker. It is clearly oriented towards a Spanish-speaking audience. Let’s take a closer look to see if this company is worthy of attention or just another scam on our path.
- NordEquity General Information
- Registration and Client Portal Review
- NordEquity Trading Conditions
- Account Types Review
- Trading Platform
- NordEquity — Deposit and Withdrawal of Funds
- Verification
- Additional Options
- Is NordEquity a Scam?
- Legal Information and License
- Nordequity.net Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
NordEquity General Information
| Website | https://www.nordequity.com/, https://www.nordequity.net/ |
| Phone Number |
|
| office@nordequity.com | |
| Address | Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960 |
| License | — |
| Minimum Deposit | $300 |
| Assets | CFDs |
| Leverage | Up to 1:200 |
| Trading Platform | WebTrader |
Registration and Client Portal Review
The website is exclusively available in Spanish. It’s quite rare to come across brokers that can’t even provide an English translation on their portal. Regardless of the language, the content here doesn’t impress. Even in Spanish, we can discern how much time the broker dedicates to self-praise and how little to actual trading conditions and essential information.
Let’s delve into the registration process on this website in more detail. Like many other brokers, NordEquity requires you to provide some personal information and contact details during the registration process. This includes details like your name, email address, phone number.
One notable aspect of the registration process is that it doesn’t require you to verify your phone number or email address. While this might streamline the registration experience for some users, it’s also worth noting that verification steps can add an extra layer of security to your account.
The brokerage firm provides a rather typical client portal. It doesn’t come with any particularly advanced or unique features. Instead, it adopts a simple and minimalist approach. While it may lack some of the bells and whistles found in more sophisticated dashboards, it still offers all the fundamental functions necessary for trading. This straightforward design might appeal to traders who prefer a no-frills experience.
NordEquity Trading Conditions
Now, let’s take a closer look at what the broker offers to its clients in terms of trading conditions. This is where the rubber meets the road, so to speak, as favorable trading conditions are crucial for traders looking to achieve success in the financial markets.
Account Types Review
NordEquity offers a range of trading accounts, providing traders with different options depending on their preferences and capital. However, it’s worth noting that these account types don’t vary significantly apart from the minimum deposit required and a few additional services. To get started, you can fund your account with as little as $300. Alternatively, there are higher-tier accounts available for $1,000, $5,000, and $10,000, each coming with fairly standard offerings. These offerings include features like analyst support and 24/7 customer service. Unfortunately, the team doesn’t disclose information regarding commissions and spreads. On a positive note, it seems you can open a demo account directly from the main page for practice purposes.
Trading Platform
The trading platform presents itself as quite underwhelming. It lacks many of the additional features that traders often find valuable, and its interface is relatively simplistic. Moreover, the platform’s capabilities for trading are somewhat limited, particularly in terms of available indicators.
One notable aspect worth mentioning is that NordEquity offers a rather high leverage, reaching up to 1:200. This level of leverage is often viewed with caution and may even be restricted or discouraged by regulatory authorities due to the significant risks associated with it.
NordEquity — Deposit and Withdrawal of Funds
It offers several payment methods for depositing funds, including credit cards, bank transfers, and popular e-wallets such as Skrill and Neteller. However, it’s worth noting that the options available in the client portal might be somewhat limited in comparison to the advertised variety.
Regarding withdrawals, the broker suggests that funds will be processed and credited to the trader’s account within approximately 3-5 days. However, managers do not provide clear information regarding any commissions or fees that might be associated with these transactions.
Verification
NordEquity, despite its predominantly Spanish orientation, does require its clients to adhere to the Know Your Customer (KYC) procedure. The verification process involves submitting certain documents to confirm your identity. This includes proof of identity (such as a passport or driver’s license), proof of address (like a utility bill or bank statement), and sometimes proof of payment method.
Once you’ve provided the required documentation, the broker’s compliance team will review and verify your information.
Additional Options
When it comes to additional features, the broker offers rather standard services. They claim to provide education and analytics, but the quality of these offerings appears to be questionable. Notably, there doesn’t seem to be any publicly available forecasts or analyses provided by the company’s staff. This raises concerns about the credibility and reliability of the broker’s analytics.
Is NordEquity a Scam?
As we delve further into our evaluation, it’s crucial to address the issue of this broker’s legitimacy. Stay with us as we uncover the truth behind it and determine whether it’s a trustworthy platform for traders.
Legal Information and License
The company claims to be registered in the Marshall Islands, and indeed, there is a company listed in the registry under the name Sinvara LLC. However, it’s worth noting that the difference in names between the broker and the managing company raises questions. Nevertheless, the critical point here is that the Marshall Islands do not license online brokers.
In essence, NordEquity operates without any regulatory oversight, which significantly simplifies matters for the broker and gives it substantial leeway in its operations.
Nordequity.net Domain Info
In the registry, this company was listed in February 2023. As for the official website, it was only updated in May 2023; before that, the domain was inactive. This means that the actual operational history of this broker is even shorter.
This article has been updated. Surprise! As one can see in the screenshot above, the domain doesn’t expire until December 2024. For reasons unknown, the owners have moved to https://www.nordequity.net/, processed on March 21, 2024. A clear red flag!
Contacts Review
Among the contact details, there are several phone numbers intended for different jurisdictions, such as Mexico and even Peru. There’s also an email address provided. However, regarding the office, it’s evident that the addresses are purely nominal, given the offshore nature of the registration, and the company does not have a physical office presence.
Pros and Cons
- Variety of funding methods.
- Limited language options.
- Scarce trading conditions.
- Limited trading platform.
- Questionable analytics.
- Lack of reliable regulation.
So, it is an offshore broker with questionable legitimacy. Registered in the Marshall Islands, where online broker regulation is lax, it lacks the oversight necessary for ensuring client safety. Limited language options and minimal trading conditions, as well as doubts about the quality of analytics, raise concerns about the overall reliability of this broker. Considering the absence of robust regulation, we recommend traders explore more secure and well-regulated alternatives in the industry.
Frequently Asked Questions (FAQ)
It offers trading services primarily focused on the Spanish-speaking audience. While it provides the basic trading functionalities, such as access to financial markets, its offerings appear rather limited compared to other brokers.
According to their trading conditions, the minimum deposit required to start trading is $300.
No, it cannot be considered safe. This broker operates from an offshore location, the Marshall Islands, which lacks the robust regulatory oversight common in more reputable jurisdictions.
Dubious scam sites
It’s crucial to highlight the startling similarity between NordEquity and countless other similar sites. If you visit the Exton Global website, for instance, you’ll see striking resemblances in website layout, platform offerings, text content, and account types. It’s as if these are clones, and I strongly suspect this is a part of a large-scale fraudulent scheme. Such striking similarities raise serious doubts about the legitimacy of these operations. It’s likely that these are not individual brokerages but rather a network of interconnected fraudulent entities.
Consequently, the lack of transparency regarding the company’s founders and legal details is a glaring red flag. There is a notable absence of any verifiable corporate information. These scammers are unlikely to disclose their identities or faces.
Therefore, it’s essential to steer clear of and remember this scam template to avoid falling victim to similar schemes in the future. These scams emerge and disappear quickly, only to re-emerge under different names. They thrive on unsuspecting individuals with overly trusting natures who deposit funds into their schemes, only to have their money stolen. Don’t feed the scammers with your hard-earned money.
The revealing truth about this scam
I really wonder who this scam is targeting because it’s hard to imagine anyone falling for it. Seriously, if you take a look at any experienced broker, one that’s been in the industry since the 20th century, it’s like night and day compared to this operation. Its online reputation is abysmally low. Positive comments about the company are almost non-existent, and those few that do exist seem rather strange and dubious, as if they were either scripted or copied from somewhere else. There’s no tangible evidence that this is a financially stable broker that will unconditionally process withdrawals. Instead, there’s plenty of revealing facts and negative feedback suggesting that it’s a fraudulent operation. Trusting a broker that has 90% or more of its comments and mentions labeled as a scam is simply unwise.
NordEquity lacks any licenses, and this is consistently mentioned in every review, which I concur with. Licensing is an essential component of a reputable broker’s profile, and absence of it raises significant concerns. Remarkably, Nord Equity has no presence on social media. It’s puzzling how an online business can operate without establishing a social media presence. Any online broker should create and promote social media profiles for added visibility and credibility. However, it appears that these scammers are so negligent that they won’t even create and maintain social media profiles. It’s far easier for them to churn out numerous template websites rather than invest the effort into legitimate business practices.
They are thieves
Please don’t trust this people, I started investing $250 and it soon came to $440 so I asked for my $250;back and they gave me thousands of lies to don’t send my money back. Last call with the “boss” he proposed to send me only 50 I said NO, so he got mad at me and close an operation where I lost my money and my profit with out my permission
Es estafadora la empresa support nordequity
Invertí en esta empresa 4525pesos mexicanos, deje a mi hija que manejara la plataforma con la asesoría del broker, mi hija tubo un contratiempo familiar y como la 8nversion estaba en números rojos o sea que estaba perdiendo dinero de la inversión, para atender su problema familiar la cerró, al día siguiente se contactó con ella el broker preguntando porque la había cerrado y no dejará que entrarán los números positivos, a lo que yo le expliqué el problema que tubo mu hija, posterior a esto ya no he tenido contacto con personal de la empresa para seguir el proceso de la inversión. Aunque insista ya no hay contestación a mis correos