Nab Europe – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Nab Europe - DO NOT TRADE WITH THIS PROVIDER
2.6/10
$100
Minimum Depositupdated 2021
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://nabinv.com
Founded: 2020
Regulations: Unlicensed
Languages: English / Italian
Deposit Methods: Bank Cards, Skrill, Wires
Minimum Deposit: €250
Free Demo Account: Not Available
Number of Assets: 400+
Types of Assets: Forex, CFDs on Indices, CFDs on Stocks, Commodities
Trading Accounts and Conditions
Here are the trading accounts that are offered by Nab Europe:
- Micro: The minimum amount you are asked to deposit to start this account is €250. Spreads start at 3 pips and are variable.
- Silver: The minimum amount you are asked to deposit to start this account is €2,500. Spreads start at 1.9 pips and are variable.
- Gold: The minimum amount you are asked to deposit to start this account is €10,000. Spreads start at 1.5 pips and are variable.
- Platinum: The minimum amount you are asked to deposit to start this account is €50,000. Spreads start at 1.2 pips and are variable.
- Exclusive: The minimum amount you are asked to deposit to start this account is €200,000. Spreads start at 1 pip and are variable.
The maximum leverage that Nab Europe offers its clients is 1:200.
Nab Europe – Advantages
After going through Nab Europe’s website in detail, we can say that no trader would have any advantage in trading with this broker.
Nab Europe – Disadvantages
Here are all the reasons why we believe that Nab Europe is a scammer and not to be trusted:
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Blacklisted by CONSOB
The first thing every trader must check before contracting with a new broker is its legal status. This can be done very simply – you need to check whether the broker has provided all its corporate information, including its license and registration details. And then you can take that information and check the online register of the relevant regulator to confirm whether the broker is telling the truth or not.
If the broker does not have these details in place, it is the first and most important sign that a broker is not legitimate and should be avoided.
So, we checked for these details with Nab Europe. This is the first red flag we found. There are no details about the parent company that owns and operates this broker. There is no physical address provided. All we have is an Estonian telephone number. And there is absolutely no licensing information given.
However, in another section of this broker’s website, Nab Europe mentions that it is based in St. Vincent and the Grenadines. The broker goes on to claim that it is an education organization and therefore does not need to be regulated by any regulator!
We also checked the Estonian FSA (Financial Supervision and Resolution Authority) to see if this broker was licensed with them. During our search, we found out that this broker is actually blacklisted by the Italian CONSOB (Commissione Nazionale per le Societa e la Borsa).
All of this proves to us that this broker is a scammer and best left alone.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Links to Other Scammers
In our search to check for this broker’s legitimacy, we found even more incriminating information. This broker is clearly linked to other scammers. We found out that this brokerage was launched by the same people who launched NabEuropeLimited.com and NabConsulting.com. How do we know that it’s the same entity behind all of these scams? Because the logos are the same and so is the content in each of these brokerages’ websites.
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Lies About Trading Platform
Nab Europe claims to offer its clients the MetaTrader 4 trading platform. If this were true, it would be a big advantage for the broker, since this platform is the best in the world at this time.
However, we checked, and we found out that this is a lie. What the broker actually offers in the name of a trading platform is an archaic WebTrader that doesn’t do anything much. The MT4 links on Nab Europe’s website don’t work – the only platform you can use is this other one that can’t even compare.
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Poor Trading Conditions
The trading conditions offered by this broker are very unfavorable, so even if they were legitimate, we would still advise against trading with Nab Europe.
The spreads for this broker’s basic account start at 3 pips, which are much too high. The market offers a spread range of 0.5 pips to 1.5 pips, so 3 pips is much too expensive.
The leverage this broker offers is a maximum of 1:200 but can be increased to 1:500 under special circumstances (what those circumstances are, are not mentioned). Both the leverages are much too high – especially for the European Union, where leverage is capped at 1:30. Such high leverage is not just illegal, it is also dangerous. While the possible returns are extremely high, the dangers are much higher. It has been proved that most traders lose money while trading in the forex market. Legitimate brokers are expected to publish this data – 75% to 85% of their clients tend to lose money. Therefore, playing with such high levels of leverage can lead to massive losses. It is because of this danger that limits have been placed on the amount of leverage that can be offered.
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Strange Inactivity Policy
While there were many issues with had with this broker’s policies, one of them really stood out for us – the Inactivity (or Dormancy) policy. If you are inactive for 3 months, then your account is considered dormant. Then you will be charged $25 for the first 12 months, and then $100. But we do not know if that $100 charge is a lumpsum or a monthly or annual charge.
Conclusion
Nab Europe is not a broker that can be trusted – it is a scammer that has been exposed by a top regulator. It would be best to stay far away from them.
Nab Europe
Pros
- None
Cons
- Blacklisted by CONSOB
- Links to Other Scammers
- Lies About Trading Platform
- Poor Trading Conditions
- Strange Inactivity Policy
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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