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Is FXNobels a scam broker?

Overview

FXNobels is a forex broker that provides its customers with various trading options, including forex, derivatives, options, stocks, indices, futures, and cryptocurrency trading. The brokerage firm also offers more than 40 currency pairs for trading. But the main drawback of this brokerage firm is that you cannot find any information about the company that owns and operates FXNobels. Even though data from other sources say that FXNobels operates from Malta, we cannot confirm from the official website of FXNobels. In this review, we’ll uncover the truth about FXNobels and reveal whether the forex broker is whether legit or a scam broker. So, please read the review completely to know the truth about FXNobels.

About FXNobels

FXNobels is not a licensed and regulated forex broker and is owned and operated by Glencoe Partners Ltd in the Marshall Islands. As far as we know, FXNobels is not licensed by any of the prominent licensing authorities CySEC, FCA or ASIC etc. Even though their official website reveals that they are a registered member of the Financial Commission, it seems to be an independent body and doesn’t vouch for the credibility of the brokerage firm. Signing up with the broker is quite simple and once you login to your account, you will be taken to your dashboard displaying details about all your recent trading transactions.

FXNobels offers its customers with two different types of trading platforms including WebTrader and MetaTrader4. People comfortable with web-based trading can go for the WebTrader platform and serious trading professionals can opt for the more technical MetaTrader4 software. FXNobels offers two different packages including the Basic and Premium categories. In the basic category, customers can choose between Bronze, Silver and Gold accounts whereas, in the Premium category, customers can choose between Premium, Platinum and Royal accounts. The maximum leverage provided is 1:500 and details regarding the spreads are not clearly provided.

Is FXNobels Legit or Scam

If you are asking whether FXNobels Legit or Scam, we would recommend staying away from FXNobels. Yes, the reason for us to come to this conclusion is that their official website doesn’t provide us with more details on the company which runs FXNobels. When you compare the pros and cons, it is the cons that are larger than the advantages. But the broker is relatively new to the market and it is always better to watch out for more updates before investing your money on this forex broker.