Nerostrade Review: Nerostrade.com Illegitimate Broker

Nerostrade is a crypto exchange company that promises to make trades easy, fast and reliable. They claim to have 24/7 customer support, staking, bank-grade security, and insurance. However, using crypto as their only payment method is a red flag. 

They claim to have proven reliability, which is not the case. There is not much information on how they provide support to the client. The website itself doesn’t give a clear insight into its purpose. The first glance should be more intriguing. It is shady and not appealing to navigate. Clients ought to be very careful before engaging with such fraudulent companies. 

On the other hand, legitimate crypto brokers exist alongside such fraudulent companies. They offer a safe and secure environment for clients to trade and grow their investments.

Nerostrade.com Review

The website does not give information on the available trading platform. Nerostrade claims to have an intuitive interface. Clients need a factual representation of the current market. The website provides a terminal chart with figures that are not verifiable. It only looks like a plethora of figures.

They do not provide a demo or trial account. A demo account gives the clients insight into how the platform is expected to work. The company only deals with cryptocurrency, which means the assets become inaccessible once possessed by the company. Clients need a guarantee for an asset return policy. Such shows how hungry they are for your money.

The website claims to feature advanced analytical tools for experienced traders. Yet it provides a simple buy-and-sell interface for beginners. They do not have tutorials or guides on navigating the shady terminal. The website only provides three written steps to start trading: register, fund, and trade. Crypto trade requires adequate mastery. The three steps are not practical for a beginner to learn and become an expert. It is easy to lose funds trading without proper knowledge. 

The company provides four different emails for customer support. But, there is no clear information on which one to use for which instance. As an investment company, it is important to ensure that client support is always available. There is no guarantee for the 24/7  premium customer support that they claim. Most such fraudulent websites do not respond to customer queries.

Deposits and withdrawals

Nerostrade only accepts cryptocurrencies. Yet, cryptocurrency transactions are irreversible and not traceable. Thus, the company has full control of the funds once deposited. Legitimate investment companies do not limit investors to a single payment method. You can use Skrill, Neteller, e-wallets, wire transfers, or bank cards. Make sure you trust a company before making deposits via digital currencies. It is best to consider payments via refundable options like bank cards. The website mentions unlimited access with their mobile web wallet. It does not elaborate further on this. Besides, you will give your money to mysterious people on the internet.

In many fraudulent cases, scammers hold funds as they tell you to wait for them to mature. Nerostrade doesn’t have any withdrawal evidence by traders. There is also no evidence of client interactions on the website. There might not be other people using it. You do not want to be the scapegoat. 

The company has the chance to get investors’ funds. Clients should use brokers with safer payment options, such as bank transfers and debit/credit. Although safety is not guaranteed, the funds are traceable, and chargebacks are possible.

Nerostrade Account Types 

The platform does not give clients a lot of options. It only has one account, which is the real account. There is no demo account. Clients are expected to transact with their actual funds without first testing the platform. The platform lacking a demo account is a huge risk to the clients.

The platform allows clients to upgrade their accounts to premium accounts. The premium account has to be purchased. Unfortunately, it takes away a 2.5% fee from the purchasing deposit. But this upgrade is only for status and has no other benefits. The client handles paying commissions and service fees related to funds deposits made to the company’s account. These are extra costs that are unnecessary to the client.

Founders and Physical Location

Every brokerage company needs to introduce the team to the clients. Introducing the people behind the company shows the company’s level of transparency. Clients ought to look out for this to get an insight into what to expect from the company. But, Nerostrade founders remain anonymous. The team is not introduced to the clients. Choosing to stay anonymous is typical for fraudulent operations. They hide their identities to ensure they are not traceable.

Also, the website lists their physical address as 2 New Street Square London EC71B 9TW, United Kingdom. Contrary to this, the domain search places it in Reykjavik, Iceland. Providing inaccurate information is a red flag to any potential client. Besides, they claim to have been around since 2018, yet they only created the domain on 20/07/2022.

Regulation and Fund Safety

You should always look for companies with licenses from FCA, NFA, or CySEC. These watchdogs regulate broker companies and ensure they do not run criminal operations. They also ensure that a company has the right banking setup to protect clients from losing funds. Nerostrade does not provide any evidence of being a regulated entity. 

It is a rule for every broker company to segregate customer funds from the company’s funds. However, Nerostrade claims the company does not keep the user’s funds. Besides, they claim that a third party does the money transfers between them and the clients. Even worse, nerostrade.com is not liable for the actions of these third parties. That is a red flag.

Furthermore, there is also no evidence of systems protection from hackers. It is easy for them to penetrate the platform and get your funds. Such negligence is a huge compromise to the safety of clients’ funds. The company seems to be transacting its business in a shady way. Every broker company ought to be accountable to clients’ funds. 

In addition, hackers can also steal your identifiable data. The disadvantages are more than the advantages. There are too many ways for you to lose your money.

Final Verdict

Nerostrade is a fraudulent company. They are here to steal your money. The company does not have any form of regulation from a relevant body. They can not assure you of your funds’ safety. 

No one will be accountable for lost funds, as the founders and operators are anonymous. Investing with people on the internet, let alone those you do not have any information about, is risky.

Their inability to provide accurate information about their location is a red flag. The platform, also lacking a demo account, clearly shows how hungry they are for your money. 

Cryptocurrency, their only payment mode, is also another recipe for disaster. You will not be able to trace or reclaim your funds in case of any emergency. They also involve third parties to handle your funds. Nerostrade company does not care to mention the names of third-party companies.

If you are looking for a reliable forex broker, consider trying the best legitimate crypto in the market. These are better companies that give you better service. They operate transparently and have been in the market much longer. Their users also recommend them as safe platforms.

 

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