Nittrex(Nittrex.vip and Nittrex.co) calls itself an investment platform that supposedly helps retail investors make a considerable amount of returns. Unlike traditional MLM type schemes, this one does not feature any bold claims.
However, there are a lot of things about them that are scary and concerning. Owners of the organization are unknown and information about their certificates are scarce as well.
Clearly, they do not have proper authorization and if anyone invested with them, then the likelihood of getting the money back is pretty much zero. User reviews about them are also not that much. In simple words, the way they function is not only just controversial, but it resides in the gray area of law.
Surprisingly, the management side has not done anything to improve their image which raises a lot of suspicion. If you are a victim of this hustle, then do get in touch with us at the earliest.
Our staff will help you with the recovery process and hook you up with actionable steps and plans. If you are interested in knowing the way this firm operated, continue reading.
Is Nittrex Licensed and Fully Regulated?
Nittrex platform does not share any details about their legality at all. We do not have a clue about their parent firm or any other related company. Even their liquidity providers are unknown. Of course, there are few details about their offices.
However, the broken links in their explanation along with the way they have tried to hide their footprints is a red flag. As expected, there are no detailed policies that outline the way the funds are handled.
Lastly, know that your money is never truly safe with them. If and when they go down, they have no obligation to reimburse the users and that allows them an unfair advantage.
Also, their books are not audited frequently by third parties. Regardless of which way you look at them, you will find only ambiguity mixed with anxiety.
Customer Support
Support staff interact with the users mainly through email and phone. We did find a few addresses, but there is no way to verify the reality of the situation. We have listed all the contact information below.
Keep in mind that you should never entertain any of their offers regardless of how good it might sound. After all, the conflict of interest is huge and it works against the clients.
- Address – Rue de Luxembourg 19, 1000 Bruxelles, Belgium
- US – 200 Vesey Street, Three World financial Center, Battery Park City, New York City, United States
- UK – Tower 42, 25 Old Broad St, Cornhill, London, EC2N 1HN
- Canada – Burnhamthorpe Rd, Hurontario Street, Mississauga, Absolute World Tower, ON L4Z 0A8, Canada
- Phone – +44 7418354167, +13328956076
Closely resembling firms
There are a handful of firms that closely resemble Nittrex’s operational model. While we cannot prove the connection they share, it does appear to closely resemble.
We have listed the list of the url’s you need to go through to understand the scene of this paragraph below. As soon as you visit all the sites, let us know your thoughts by commenting below.
- Nittrex.co
- Nittrex.vip
- Nittrex.io
Nittrex Trading Terms
Nittrex does not reveal all the details beforehand. For starters, the minimum deposit amount is not clear. Trading costs are unknown and even the availability of Islamic accounts are not specified by them.
We have no clue about spreads and God only knows whether they allow all kinds of copy trading functions. Inactivity fees aren’t disclosed and the platform they offer is also a mystery. Simply put, we have no idea about the key parameters and ironically enough, the trading platform appears to be web based.
Personally, we have never seen any firm that keeps so many basic things and parameters confidential. Looks like it is impossible to gauge their services without putting our hard earned money at risk.
Given every fact about them, trusting them with our money is certainly a one way street, chances are you might never get your funds back.
Deposit and Withdrawals
This broker does not offer bonuses. Payment methods supported by them are debit cards, credit cards and wire transfers. Guess what? There is no information about fees and processing time is unknown. Note that even inactivity fees aren’t disclosed.
Clearly, this firm has too much control and they can do a rug pull whenever they want. Lack of transparency is always a dead giveaway that exposes the real nature of the firm. So, always keep an eye on the small stuff and it will help you understand the big picture.
Nittrex User Reviews
We did spend a lot of time on the web searching for information about them. Sadly, we could not trace many user reviews about them. The ratings they have earned is obviously not good, but the available data is not statistically big enough to derive meaningful conclusions.
Nonetheless, it is not wise to believe anything they say blindly. As both social proof and transparency is questionable, no rational person ever would proceed with them.
Ask yourself, if this firm was really helping retail investors, then why are they operating in a strange and mysterious manner? Aren’t their objectives too obvious?
Is Nittrex a Scam?
Yes, in our books Nittrex is certainly a scam. Their traits resemble a ponzi scheme and it has caused financial damage to a lot of users already. While it may be too late for the regulators to jump in, do not give them an opportunity to walk away with your funds.
Get educated about the recovery procedures and take professional help whenever you feel it is necessary. Going forward, do not invest in any firm or token without consulting a financial planner.
Remember, there is no such thing as shortage of opportunities. However, you need to be fully prepared and educated to make the best out of it.
Recover funds
In recent years, have you noticed that the number of online scams has really gone out of the charts? The way the internet works has made it easier for crooks to escape crime and thanks to cryptocurrencies, they can hide it somewhat from law enforcement agencies.
People who pay by credit card to fraudulent companies are more secure than those who choose other methods, but this does not mean that they have completely lost money. If you deposit money to Nittrex and do not get their money back, just fill out the contact form available on this page and let our team work for you.
We need some quick details about the nature of the transaction and as soon as we receive it, our experts will start identifying the account details. If you pay by credit card, there will be approximately 30 days for a full refund, but this is slightly different for other methods. Note that cryptocurrency transactions are also recognized and our recovery success rate has averaged over 80% over the years.
Verdict
Nittrex scam did cause a lot of harm to the clients. Though they displayed a lot of signs, people did not recognise their true nature quickly. While this platform is dead now, do remember the lessons it taught us.
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