NU2UTRADE – Are They Trustworthy?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
NU2UTRADE - DO NOT TRADE WITH THIS PROVIDER
2.5/10
$100
Minimum Depositupdated 2023
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://nu2utrade.com
Founded: 2023
Regulations: None
Languages: English, Russian
Deposit Methods: Bitcoin, Tether
Minimum Deposit: $150
Free Demo Account: No
Number of Assets: 100+ Assets, 60+ Cryptos
Types of Assets: Forex, Stock Indices, Commodities, Cryptocurrencies
Trading Accounts and Conditions
Here are the account types that NU2UTRADE offers their clients:
- Beginner: The minimum deposit they ask for is $150 to open this account. The crypto leverage is 1:1, the leverage for other assets is 1:100.
- With Experience: The minimum deposit they ask for is $1,000 to open this account. The crypto leverage is 1:1 and the leverage for other assets is 1:100.
- Professional: The minimum deposit they ask for is $10,000 to open this account. The leverage for both crypto and regular assets stay the same as the other two accounts.
There is no information on the spreads and other trading conditions.
NU2UTRADE – Advantages
There are no advantages to trading with NU2UTRADE.
NU2UTRADE – Disadvantages
Listed below are all the reasons why we believe that NU2UTRADE is a scam operation:
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Issues with Regulation
Regulated brokers need to present all the evidence of their legal standing on their website. They need to clearly provide information about their corporate identity as well as their authorization and regulation details. This means we should see the name of the company that runs the online brokerage, the location, i.e., their physical address, and their contact details. We also will see the registration and regulation/license number on their website.
With scammers, this information can be fabricated, incomplete/contradictory or may just be completely missing. With NU2UTRADE, we see that this information is incomplete and contradictory.
NU2UTRADE claims that they are one of the largest banks in the US for auto lending by volume. However, in the footer of their website, the broker states that they do not offer services to customers in the US. And then, the broker presents us with a certificate of registration from the Vanuatu Financial Services Commission. In this certificate, the company name presented is Credit Financier Invest Limited, not NU2UTRADE.
We checked the VFSC online register, and we found that none of these claims are true. There is no broker by this name or license number listed with the authority. Which means that this broker has lied about being regulated by the VFSC.
All of these lies tell us that we are dealing with a scammer.
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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No Legal Documents
Legal documents are a legal necessity on any regulated broker’s website. These are the documents that tell us what to expect if we sign up with a broker. They tell us the terms of the broker providing us with their services, the conditions to use their trading platform and what trading conditions they offer, their conditions for withdrawing funds and so on. They also tell us the policies that the broker follows with regard to KYC, privacy, etc.
When we sign up with a broker without reading through the legal documents and we get scammed, then there is no authority that can help us.
This is the reason why it is so imperative for all traders to read through the legal documents before registering with a new broker.
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Weak Trading Platform
Another sign of a scam is the quality of a broker’s trading platform. This software is the main product that a broker offers, so it has to be top quality. However, since scammers don’t really plan to help you with trading, they don’t care if their trading platform is good, or that they even have one.
With NU2UTRADE, at least we have a working trading platform. However, it is basic – one that we have seen being used innumerable times with other scammers. This type of trading platform is web-based. It has few tools to help with trading, and it barely functions; you can’t do much more than buy and sell the assets listed on it.
The poor quality software that this broker offers is a clear sign that we are dealing with a scammer.
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Issues with Trading Conditions
We also know that this broker is a scammer just by checking their trading conditions. The trading conditions are key to the broker’s services. They tell us whether it would be advantageous to trade with a broker or not.
With scammers, the trading conditions are either skewed, incomplete or missing. So, here is what we have found with NU2UTRADE.
While the minimum deposit is within the industry limits, the leverage is much too high at 1:100. Furthermore, there is no way to reduce the leverage ratio, which is another red flag. As for the spreads, they are not mentioned anywhere on the website, but when we checked the broker’s trading platform, we found it to be set at 0.9 pips for the EURUSD pair. It sounds really good, until you realize that this broker has not mentioned anything about whether they charge any commissions per trade. The commissions plus the spreads are what tell us the cost of trade, so if half the information is missing, we don’t really know whether it would an advantageous deal or not.
All of this tells us that NU2UTRADE is a scammer.
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Single Payment Option
The only way that you can make payments with NU2UTRADE is via cryptocurrencies (Bitcoin and Tether). There are no other payment options. Another huge red flag.
Regulated brokers offer multiple options ranging from the traditional bank transfers, wire transfers and card transfers (debit and credit card payments) to the more updated e-wallet remittances (Neteller, Skrill, PayPal, etc.). They offer crypto payments in addition to the regular options.
With scammers, it is normal to see only cryptos as a payment option since all crypto transactions are permanent and untraceable – the perfect option for scammers!
Conclusion
NU2UTRADE is a scammer and if you invest your money with this untrustworthy broker, you are bound to lose all your funds.
NU2UTRADE
Pros
- None
Cons
- Issues with Authorization
- No Legal Documents
- Weak Trading Platform
- Issues with Trading Conditions
- Single Payment Option
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.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.