Nerostrade Global – Are They Safe?

Website URL: https://nerostrade.com

Founded: 2022

Regulations: None

Languages: English

Deposit Methods: Cryptocurrencies

Minimum Deposit: No Information Provided

Free Demo Account: No

Number of Assets: N/A

Types of Assets: Cryptocurrencies

Trading Accounts and Conditions

From their Terms and Conditions section, we know that Nerostrade Global offers their clients two types of trading accounts: Standard and Premium. However, the broker does not provide any details about either of these account types. Thus, we do not know what the trading conditions in each of these trading accounts are, or even what their fees and commissions are. The only snippet of information we are given is that if you sign up for a Premium Account, then you are paid a fee of 2.5% of each deposit you make.

Nerostrade Global – Advantages

There are no advantages to trading with Nerostrade Global.

Nerostrade Global – Disadvantages

Here are all the red flags that tell us that Nerostrade Global is a scammer:

• Lack of Regulation

At the bottom of their homepage, Nerostrade Global gives us an address in the United Kingdom. However, just below that, the broker states that Nerostrade USA, Inc. (assuming that that is their parent company) is licensed to operate in Virtual Currency Business Activity by the New York State Department of Financial Services. And finally, when you check this broker’s Terms and Conditions page, we see that Nerostrade Global claims to be owned by Nerostrade.com Finance LLP, a company that is supposedly based in the UK.

Now, here are all the red flags that tell us clearly that this broker is lying about their identity and their regulation status.

First to operate out of the UK, a broker needs to be regulated by the Financial Conduct Authority, the regulator of this country. And to operate out of the US, a broker needs to be regulated by the Commodity Futures Trading Commission (CFTC), the Big Brother of forex brokerages in the country. However, for a US forex license, being regulated by the CFTC is not enough. Brokers also need to be members of the National Futures Association (NFA). Without these permissions in place, brokers cannot operate in either the UK or the US. And needless to say, both these countries have very stringent regulations in place to protect traders and ensure fair trade practices by brokers.

We checked the online databases of all three authorities and found that there is no broker or company by any of the above-mentioned names listed with them. This means that this broker is not regulated by the FCA or the CFTC and is definitely not a member of the NFA. Therefore, we are looking at an unregulated broker.

Furthermore, the lack of clarity about which company actually owns and operates this website also tells us that not only is Nerostrade Global unregulated, it is also anonymously operating. A typical scam operation.

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• Rudimentary Trading Platform

On their website Nerostrade Global claims to offer their clients a top-of-the-line high-tech trading platform. However, when we checked their trading platform, it turned out to be a simply and rather rudimentary trading platform, one that we have seen frequently with other scammers.

This platform offers barely any features; in fact, you cannot do much more than buy and sell cryptocurrencies.

Since the trading platform is a broker’s main – and only – product offering, a legitimate broker will ensure that they offer their clients the best possible software in the market. This usually means the MT4 or MT5 software. These two are the most popular trading platforms in the world at this time. They offer their users a range of functionalities that make trading almost intuitive.

Scammers such as Nerostrade Global, on the other hand, couldn’t be bothered about offering even a decent trading platform.

• Issues with Trading Conditions

While the trading platform is a broker’s main product, their trading conditions are the key services they offer. These trading conditions tell us whether it would advantageous to trade with that broker or not. So, brokers ensure that they spell out their trading conditions in detail on their websites – information that can be corroborated on their trading platforms.

With Nerostrade Global, we see another feature typical of scammers – a lack of transparency on their trading conditions.

We do not know what types of trading accounts they have. We also do not know the spreads (trading costs), the risks (leverages), the fees and other conditions. We don’t even know how much it will cost to open an account with this broker!

• Cryptocurrency Broker

Nerostrade Global presents itself as a cryptocurrency broker. This is another indication of this broker’s scam. How?

Brokers in the UK are not allowed to offer cryptocurrency derivative trading to retail investors – it’s illegal. Therefore, the fact that this broker claims to offer only crypto trading means that they are operating illegally in the country.

• Single Payment Method

The only way that you can make payments to this broker is via cryptocurrencies. When you check their payment portal, there is a big list of cryptocurrencies – Bitcoin, Ethereum, Bitcoin Cash, Bitcoin Gold, Tether Omni, and so on.

We need to point out that there even legitimate brokers offer cryptocurrencies as a payment method. The issue we have is this: traders are offered multiple payment options – bank cards (debit/credit cards), wire transfers, bank transfers, e-wallets (Skrill, Neteller, etc.), Western Union, PayPal and so on. Traders can then choose the option that they are most comfortable with.

With scammers, they offer only those options where a chargeback is not possible. And cryptocurrencies fit the bill perfectly. These transactions are anonymous and permanent; once your money is gone, you cannot get it back.

This is the reason why we strongly advise all traders to opt for credit card payments if you are dealing with a new broker. Credit card transactions allow for chargebacks in case you are scammed. 

Conclusion

Nerostrade Global is unfortunately just another typical scammer. It would best to avoid this broker.

Nerostrade Global

2.5

User Experience

2.5/10

Payment Options

2.5/10

Security

2.8/10

Support

2.3/10

Reputation

2.6/10

Pros

• None

Cons

• Lack of Regulation
• Rudimentary Trading Platform
• Issues with Trading Conditions
• Cryptocurrency Broker
• Single Payment Method