Nxpip is a new unlicensed broker that appears to be targeting Australians primarily. They claim to have unique features with few aspects of trading and offer a variety of account types. At first, they may appear like a low profile entity, but that doesn’t define them entirely.
During our research, it was clear that this platform is a shady one and as such, it is bound to go down in the near future. Moreover, there is an overwhelming amount of uncertainty present as well.
Read this post till the end to find out all the reasons as to why you need to avoid them like the plague.
Nxpip Overview
Nxpip is trying its best to appear like a typical trading exchange. They offer 3 account types and fees appear to be cut throat compared to industry standards. MT4 and MT5 are also said to be supported. Concerning things about platforms like these are the lack of clear terms and conditions.
There is no FAQ section on their website and few of their policies are vague at best. So, for obvious reasons, we didn’t proceed to sign up with them. Remember, when there are no clear answers to basic stuff, it is always a wise move to look in the opposite direction.
Account Types
As we mentioned before, this portal offers 3 account types. Things like trading signals or educational materials are said to be included in the higher tier accounts. Generally put, to unlock more leverage and features, clients may have to start with higher capital.
We do agree that few of their offerings are enticing, but as the odds are stacked against the end user, don’t fall for them. After all, without regulation and transparency, how can we trust anyone?
Nxpip Regulation and Contact Information
Let’s make it as clear as possible, Nxpip is an unlicensed exchange. They feature a UK address, but they are not under FCA.
So, we shouldn’t trust them with any sensitive details or money. Below, we have gathered the contact details from their website.
Isn’t it ironic to see any brokerage operate without providing phone support?
- Address – 60 St. Martin’s Lane, London, England, WC2N 4JS
- Email – supportdesk@nxpip.com
Conclusion
It is never worth the risk to proceed with brokerages that are operating without valid licenses. Withdraw your funds immediately in case you have already deposited with them.
If you are unable to get the money back, reach out to us to learn about other ways of getting it back.
