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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.
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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 – is nimblemarkets.com scam or good forex broker?
RECOMMENDED FOREX BROKERS
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.
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|
FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.
NimbleMarkets.com Review Visit site
NimbleMarkets is a forex broker. Nimble Markets offers the MT5 and Mobile forex trading top platform. NimbleMarkets.com offers over 50 forex currency pairs, cfds, oil, gold and silver for your personal investment and trading options.
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