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Nimble Markets Review – is nimblemarkets.com scam or good forex broker?
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Trading Accounts and Conditions
|Trading account||Min. deposit||Max. leverage||Spread|
|Micro||$10||1:500||From 1 pip|
|Premium||$100||1:400||From 1 pip|
|Gold||$1 000||1:200||From 0.8 pip|
|ECN||$2 500||1:200||From 0.5 pip + $10 /lot|
Nimble Markets presents itself as a London based forex broker, and says to offer the account types listed above, plus VIP and Islamic (swap-free) ones. Apart from their account type and trading conditions, we have serious concerns about this broker and the details will be highlighted below in this review, along with a few possible advantages.
If you are going to skim through the review, be sure to read at least the first points of the Disadvantages section prior to investing any money.
Nimble Markets Advantages
Trading on the MT5, high leverage available
One of the disputable advantages of Nimble Markets is their choice of a trading platform – the MetaTrader5 (MT5) platform. Being one of the finest trading solutions on the market, the MT5 is highly praised for its Intuitive trading interface, top-notch charting, supports automated trading via Expert Advisors, and on top of that allows trading in exchange-traded stocks. That being said, Nimble Markets doesn’t appear to offer trading in any stocks, nor cryptocurrency CFDs.
Competitive spreads (allegedly)
According to the information on its website, Nimble Markets offers variable spreads starting from 1.0 pip on EUR/USD, which is more or less the average in the sector. Unfortunately, we couldn’t verify this claim, as the only MT5 available for download on the broker’s website isn’t actually branded.
We should also note that the regulatory status of a broker is far more important than the spreads offered and the trading conditions in general. Remember, the security of your investment depends on it.
Nimble Markets Disadvantages
No company name, no license
Our main concern with this broker is that Isn’t actually clear who stands behind the website and online trading services of Nimble Markets. The broker’s website only features an address in London, UK, but fails to present any relevant company information.
This means that Nimble Markets’ website and services are completely anonymous, and the people operating the brand are not bound by any low, nor are monitored by a government agency. In other words, clients (or victims) of this broker are not protected and have no one to turn to in case they have legitimate complaints.
Unbranded version of the MT5, no demo accounts
When we downloaded the MT5 offered on the broker’s website in order to test it, we saw that this is in fact an unbranded version of the platform. So, it isn’t directly connected to Nimble Markets, and the trading conditions are not indicative of the broker’s offer.
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As the broker doesn’t offer demo accounts, we couldn’t verify that the trading conditions are the same as those advertised on the website, nor that Nimble Markets really supports the MT5 platform.
No CFDs on stocks and cryptocurrency
This is a minor disadvantage when compared to the previous ones, but we decided to mention it nonetheless. Nimble Markets says to offer trading in around 50 currency pairs, CFDs on indices and precious metals. While this product portfolio is quite solid, some traders might miss popular instruments such as Bitcoin and Ethereum CFDs, as well as CFDs on stocks.
Nimble Markets is an anonymous unregulated brokerage, which basically means that every single buck invested is at risk. The people behind the brokerage are not bound by any law, nor do they answer any financial authority, which leaves them free to conduct business as they see fit. Besides, they remain completely anonymous, so traders (or victims) have no way of contacting them.
In order to ensure that traders’ interests are protected and their funds are safe, most countries have dedicated agencies, like the UK’s Financial Conduct Authority, or the Cyprus Securities and Exchange Commission (CySEC), which are one of the most reputable ones in Europe. These organizations require compliance with a number of strict rules that give significant assurance for the security of clients’ funds.
For example, all FCA-licensed brokers are members of the Financial Services Compensation Scheme (FSCS), which may pay up compensation of up to £ 85 ,000 per clients in the event of broker insolvency.
And finally, here are the highlights of the present review of Nimble Markets:
|MT5 available||No company information. Not regulated|
|High leverage, good spreads||MT5 unbranded, no demo accounts|
|No CFDs on stocks and cryptocurrency|
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Nimble Markets Review: Is Nimblemarkets.com A Scam Forex Broker?
Nimblemarkets.com Review: this is the website of a Forex brokerage that alleges to be based in London, UK. Is it safe to invest in Nimble Markets? Before doing anything else, read this review first to see our concerns regarding the company.
The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.
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Nimble Market claims that it is based in London, thus operating from there. We are aware that Forex trading in the United Kingdom is under the watch of the Financial Conduct Authority (FCA). All brokers in the UK must be licensed by this commission or they are operating illegally. When we checked the website of the trading authority, we didn’t find the broker.
Trading with a Forex broker that is unlicensed poses many dangers to traders’ funds. Misappropriated funds may not be recoverable by the government as well. Unlicensed brokerages are not under any rules of traders and this puts traders in more risk than they will be in if they had chosen properly licensed ones.
Advantages of Nimble Markets
The page presents very low spreads that may seem tempting but are in fact unrealistic. It offers generous leverage and requires only a little amount to start trading. Claiming to be regulated when it is not is actually discouraging. There are different choices of trading platform opened to clients.
It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.
However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.
Is Nimble Markets Licensed?
As we have pointed out, Nimble Markets is not properly licensed and thus not authorized to trade in the United Kingdom.
Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.
Nimble Markets Trading Platform
Clients of the Nimble Market Forex brokerage will make use of the MetaTrader 5 trading platform. This is however not provided by the company itself. We advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.
Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.
These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating systems. All can be used on desktops, Linus, Windows, iOS, and Android.
Tools that come with these trading platforms are also found to be useful for traders. It has proven to be user-friendly as well and helps traders in analyzing the market easily.
Trading instruments offered to traders are Forex currencies, gold, crude oil, and many more. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.
The maximum leverage offered to clients is 1:500 and while this may seem generous, it is not advisable. High leverages can lead to huge loss of funds for inexperienced traders. Spreads are 0.1 pips on the EURUSD pairs, which is ridiculously low and may be false.
Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.
Deposit and Withdrawal methods on Nimble Markets
The means that traders are to use to make deposits and withdrawals are not disclosed which makes it hard to trust the brokerage. We are also discouraged that popular e-wallets are not allowed.
This is because standard and legit brokers make deposits and withdrawals available via Visa, MasterCard, and Wire Transfer. Many offer e-wallets like Skrill, Neteller, UnionPay, FasaPay, and so on.
The minimum deposit required is $10 and this is good because it is within the average of $100 – $250 common among brokers. The withdrawal conditions of this broker are not listed, which is suspicious.
This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.
To get in touch with a representative of the client support service, call +337452374403 or send an email to [email protected]
Considering the details, we see that Nimble Markets is unlicensed and therefore dangerous to trust with funds. Although the trading conditions seem good, it means little without proper registration. The MT5 it claims to offer is likely not provided by it.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website
Nimble Markets Review – 5 things you should know nimblemarkets.com
Beware! Nimble Markets is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Nimble Markets says to offer a variety of trading instruments, including over 60 forex pairs and plenty of CFDs on indices and precious metals, with leverage as high as 500:1, a choice of six account types and the MetaTrader5 platform. And the broker says to be comfortably situated in central London and to operate an office in neighboring France as well.
As it turned out however, the Nimble Markets website is not only not regulated, but also it is virtually anonymous, so be sure to read the following paragraphs before depositing any funds with them.
Nimble Markets regulation & safety of funds
Our main issue with Nimble Markets is the fact that their website is virtually anonymous. We are not told for example the name of the company that operates them, nor we are given any other corporate details, including any information abut their regulatory status.
It is true that they display some incomplete address in the UK (the address is without a postal code), and that is why we decided to check the registers of the local Financial Conduct Authority (FCA), because any financial company operating on British soil should be properly licensed and authorized by FCA.
Unfortunately nowhere in the FCA registers were we able to find any trace of Nimble Markets. So basically what we have here is a unregulated, virtually anonymous website, which most probably is involved in scam.
Bear in mind that proper regulation is the single most important factor for the safety of your funds. And that is why our general advise in such cases is to trade only with brokers, licensed and authorized by an official financial watchdogs such as the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), or the Cyprus Securities and Exchange Commission (CySEC) .
Nimble Markets deposit/withdrawal methods and fees
When we proceeded with our registration it turned out Nimble Markets accepts payments only with bitcoins – a payment method that is once again virtually anonymous and totally irreversible.
Most legit and properly regulated brokers on the other hand accept payments with major credit and debit cards like VISA and MasterCard, with which you can file for a charge back within 540 days in case you feel you have been cheated.
And legit brokers also accept payments with Skrill , formerly known as Moneybookers, and presently by far the most popular e-wallet on the market. The interesting moment about Skrill, however, is their new anti scam policy, according which they partner only with legit and properly regulated brokers. But as we already established, not only Nimble Markets does not have a legit forex license, but also their website is virtually anonymous.
Otherwise the minimum deposit requirement is just 10 USD, which is in line with the best practices on the market.
How does the scam work?
Call centers, aggressive marketing techniques, and expensive looking ads all over the social channels – scammers run elaborate networks to trap gullible investors. And they also use the so called robo scam websites like Bitcoin Revival and Bitcoin Profit – which are basically build around some promotional video, telling you a rather convincing story of how you can get fabulously rich by just joining some innovative trading platform or app, that is supposed to trade by it self and multiply your funds within days. Of course you will be assured that there is absolutely no risk, and that you just have to register and leave your e-mail and phone. Now, if you do that, in a second you will be redirected to the homepage of a unregulated, offshore, scam broker, where finally you will have to deposit about 250 USD.
Of course, scammers will be doing anything to make you deposit more, so do not be surprised by how successful your initial trades will be – your account will simply be manipulated, as this is just a part of the scam.
Also, you will surely be getting lots of phone calls – it will be your “senior account manager”, who basically will be trying to convince you exactly this – if you really want to make some real cash, you surely have to invest more – like at least 10 000 USD.
And many people do invest that kind of money without realizing they have been scammed right until the day they file a request to withdraw some of their funds. Than all of a sudden it turns out withdraws are not possible, because of some minimum trade volume requirement, most probably linked to a trading bonus. The pretext might certainly be different, but you can be sure that all of your withdraw requests will invariably be canceled.
What to do if scammed?
Among the few options you will have, in the unfortunate event you have been scammed, is to file for a charge back with your credit card company. That will be possible, of course, only if you have paid with VISA or MasterCard as both companies now allow their clients to request a charge back within 540 days.
And be aware that scammers might use any information that you have provided them to steal even more cash directly form your bank account. For example, if for some reason you have told them your personal banking details like your credit card number and online banking password, immediately change the password and block your credit card.
And one final note – do not trust the so called recovery agencies. Those people will not help you in any way, but simply will charge you some fees in advance, leaving you with even less cash.
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