NewFX Review : Fees, Pros and Cons, Reviews by Real Traders

NewFX

Operating status: SCAM

Website: https://www.newfx.us/ https://www.newfxtrading.com/

Broker violations and abnormal records

Aug 08, 2021 The Spain CNMV Added NewFX into Its Warnings
On 9 Aug 2021, the Spain Comisión Nacional del Mercado de Valores (CNMV) issued a warning that NewFX was not authorised to provide the investment services in Spain. You may visit: http://www.cnmv.es/Portal/ResultadoBusqueda.aspx?tipo=1&nombre=newfx.co

On 9 Aug 2021, the Spain Comisión Nacional del Mercado de Valores (CNMV) issued a warning that NewFX was not authorised to provide the investment services in Spain. You may visit: http://www.cnmv.es/Portal/ResultadoBusqueda.aspx?tipo=1&nombre=newfx.co
Aug 31, 2021 The Malta MFSA Added NewFX into Its Warnings
On 1 Sep 2021, the Malta Financial Services Authority (MFSA) issued a warning that NewFX was not Maltese registered companies nor licensed or otherwise authorised by the MFSA to provide any investment services or other financial services which are required to be licensed or otherwise authorised under Maltese law. You may visit: https://www.mfsa.mt/news-item/mfsa-notice-newfx-limited-unlicensed-entity/

On 1 Sep 2021, the Malta Financial Services Authority (MFSA) issued a warning that NewFX was not Maltese registered companies nor licensed or otherwise authorised by the MFSA to provide any investment services or other financial services which are required to be licensed or otherwise authorised under Maltese law. You may visit: https://www.mfsa.mt/news-item/mfsa-notice-newfx-limited-unlicensed-entity/
Apr 03, 2022 The Italy CONSOB Added NewFX into Its Warnings
On 4 April 2022, the Italy Commissione Nazionale per le Società e la Borsa (CONSOB) issued a warning that NewFX was not authorized to provide financial services in Italy. You may visit: https://www.consob.it/web/consob-and-its-activities/warnings?viewId=ultime_com_tutela

On 4 April 2022, the Italy Commissione Nazionale per le Società e la Borsa (CONSOB) issued a warning that NewFX was not authorized to provide financial services in Italy. You may visit: https://www.consob.it/web/consob-and-its-activities/warnings?viewId=ultime_com_tutela
Oct 24, 2022 BrokersView has Reviewed that NewFX is an Unregulated Forex Broker
NewFX claims to be a reliable broker without presenting any information about its regulation. The lack of such important information may be a distinct signal of an unlicensed broker, as regulated brokers always present their accreditations and licenses in a prominent position. It is a red flag.
In adittion, the broker also claims to be located in the USA. We searched National Futures Association (NFA) of the United States but found no matching results. And there was no financial reports of this company in U.S. Commodity Futures Trading Commission (CFTC). All in all, this broker is not regulated in the USA.
Moreover, the company also has offices in the UK and Dubai, according to its website. However, we did not find any matching results in the United Kingdom Financial Conduct Authority (UK FCA) or the Dubai Financial Services Authority (DFSA). That means the broker is not authorized in the UK or Dubai.
Actually, NewFX has been warned by three regulators including: the Italy Commissione Nazionale per le Società e la Borsa (CONSOB), the Spain Comisión Nacional del Mercado de Valores (CNMV), and the Malta Financial Services Authority (MFSA).
The truth is that NewFX is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe, and the money can not be protected by any laws. Therefore, it is a scam.

NewFX claims to be a reliable broker without presenting any information about its regulation. The lack of such important information may be a distinct signal of an unlicensed broker, as regulated brokers always present their accreditations and licenses in a prominent position. It is a red flag. In adittion, the broker also claims to be located in the USA. We searched National Futures Association (NFA) of the United States but found no matching results. And there was no financial reports of this company in U.S. Commodity Futures Trading Commission (CFTC). All in all, this broker is not regulated in the USA. Moreover, the company also has offices in the UK and Dubai, according to its website. However, we did not find any matching results in the United Kingdom Financial Conduct Authority (UK FCA) or the Dubai Financial Services Authority (DFSA). That means the broker is not authorized in the UK or Dubai. Actually, NewFX has been warned by three regulators including: the Italy Commissione Nazionale per le Società e la Borsa (CONSOB), the Spain Comisión Nacional del Mercado de Valores (CNMV), and the Malta Financial Services Authority (MFSA).The truth is that NewFX is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe, and the money can not be protected by any laws. Therefore, it is a scam.

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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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