New Traders Holdings – Is It Safe To Trade With Them?

Website URL:  https://newtradersholdings.com

Founded:  2020

Regulations: Unregulated

Languages:  English

Deposit Methods:  Master Card, Maestro, Visa Card, Fast bank transfer, Skrill, Neteller, Online wallets, and Wire transfer

Minimum Deposit:  $100

Free Demo Account: Yes

Number of Assets: 100+ assets

Types of Assets: Forex, Stocks, Indices, Metals, Energies, and Agriculture

Trading Accounts and Conditions

New Traders Holdings is offering its customers three types of accounts:

•         Basic Account: The minimum deposit amount is $100.
•         Standard Account: The minimum deposit amount is $500.
•         VIP Account: The minimum deposit amount is $5000.

In addition to this, they are also offering a mini account during registration and also give the option of choosing between a real and demo account. Moreover, they are offering lower spreads except for the basic account.

NEW TRADERS HOLDINGS – ADVANTAGES

New Traders Holdings does not offer incentives or advantages to the clients for investing money with them.

NEW TRADERS HOLDINGS – DISADVANTAGES

• An Unregulated Enterprise

New Traders Holdings claims to be owned and operated by a renowned and reputable regulatory authority but they do not mention which regulatory authority is regulating them. Surely, it is an unregulated enterprise because if it was a regulated and legit broker, they would not have hidden the most important information from the customers. They are just lying about their regulatory status.

In addition to this, they have not mentioned any information related to their regulation or the authentic license but only a phone number with the area code of the UK. While when the FCA authority’s registration database was checked, there was no broker listed with this name.

Additionally, the physical address they have claimed to be based in is of Marshall Islands which is an offshore area in the pacific which is famous for its weak forex trading regulations and an attractive place for scammers. For starting a business online in the Marshall Islands, you do not even have to go there. Hence, this offshore zone lacks personal accountability which is very beneficial for scammers.

Therefore, New Traders Holdings is an unregulated broker.

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• Lies About Trading Software

New Traders Holdings claims on its website to offer the Metatrader4 trading platform. However, it is not more than a lie because on its website there is a totally different non-downloadable platform called Sirix.

In addition to this, Sirix trading software does not offer many functions to carry out trading transactions. With Sirix software, algorithm trading is nearly impossible. Moreover, Sirix is embedded with the social trading panel where you can easily copy other trader’s trading strategies and can easily review what other traders are doing. Also, this software does not offer many charting tools. For this reason, Sirix trading software is most popular among scammers.

Apart from this, Sirix software seems to be interlopped by this scammer as it is showing a success rate of New Traders Holdings. While, in reality, as everyone knows, financial forex markets are highly risky, volatile, and unpredictable markets. Even the best and most experienced brokers cannot report a 98% success rate as New Traders Holdings is showing through its meddled software. Hence, this broker has just fudged the numbers to make it appear like they are accurate and authentic. It is not more than a trap for new victims.

• Missing Information

If talking about the leverage levels, New Traders Holdings has not disclosed it anywhere on the website.

In addition to this, the broker has mentioned at the bottom of the website all the payment methods they are accepting such as Neteller, Skrill, Wire transfer, Master, and Visa cards.  Moreover, there are lots of other claims like short processing times, no commission on the trading transactions, and no hidden charges for the deposit and withdrawal requests. Unfortunately, none of these claims can be confirmed because no further information is found related to these claims on its website as well as the customer cannot create an account due to the poor registration process. So, none of these claims can be confirmed.

• Shady Withdrawal Policy

New Traders Holdings has mentioned in their terms of service many different clauses related to their shady withdrawal policy to ensure that the customer can not withdraw their deposits. For achieving this goal, they offer bonuses to trap the customers and then assign those bonuses to the customer’s account in a malicious way, which is not a new thing for scammers. They have attached the bonuses with the requirements of the time frame and trading volume. It means the customer can not withdraw the funds until they do not reach the trading volume of 40 times the deposit amount and a certain time frame has not been passed. While there is no information found on its website related to how much time frame is required to withdraw the funds.

Additionally, the broker claims that the bonuses they offer are optional. However, during the deposit process, there is no opt-out option available. Hence, you cannot withdraw any of your profits if you have accepted the bonus of 50% of the deposit amount.

Therefore, these are standard practices followed by scammers through which they make it impossible to withdraw bonuses or profits.

• The Poorly Designed Registration Process

When you try to register with New Traders Holdings for opening a trading account, you will notice that there is no “User name” input field, as well as no email. But, when you log in to your account, you’ll be asked for a username and account number details. The question is, where do customers get these details if they don’t ask for the customer’s email address? Additionally, the “Forgot Password” feature also required the user name which also creates an error at the end. Therefore, you will not be able to create an account with this broker at the end.

Conclusion

New Traders Holdings is not a legit or regulated broker. What they mention on their website are only empty claims and false commitments. They are an unregulated, unauthorized, unlicensed offshore broker that is not bound by the policies and rules because they are not regulated by any authority. Therefore, investing money with this broker is not safe!

New Traders Holdings

2.4

User Experience

3.1/10

Payment Options

2.3/10

Security

2.1/10

Support

2.0/10

Reputation

2.4/10

Pros

• None

Cons

• An unregulated enterprise
• Lies about trading software
• Missing information
• Shady withdrawal policy
• The poorly designed registration process