Brief Look at NICOFX
NicoFX a self-proclaimed European Forex broker established in 2013, raises several concerns. The broker's website doesn’t operate, hindering the ability to review its services and terms. There is insufficient or missing information regarding the available instruments, spreads, leverage, and other critical aspects of trading.
NicoFX holds licenses from the Financial Conduct Authority (FCA, UK), The Federal Financial Supervisory Authority (BaFin, Germany), and the Financial Markets Authority (AMF, France). However, its status with the FCA is marked as "Subscription Cancelled." The BaFin and AMF licenses do not permit the broker to offer services in those countries.
Contact information and jurisdiction websites, other than Cyprus are missing.
Traders have complained about client support and the lack of an online chat. The support is available only via phone and email. Client reviews frequently mention issues with withdrawing funds.
Adding to the red flags, Mount Nico Corp Ltd, which owns NicoFX, previously managed eXcentral EU, a company that surrendered its license and ceased operations.
Share your experience
- Best
- Last
- Oldest
We constantly monitor the Internet for the emergence of new fraudulent schemes to deceive traders. We have been collecting data about scam brokers for more than 10 years and we think we know every dishonest company in the market. Below we have collected for you the information about the scammers from the List of SCAM Brokers.
Articles that may help you
Check out our reviews of other companies as well
User Satisfaction i