Read our NuxTrade review to see if we recommend this broker for trading. Just to clear doubts, this is a nuxtrade.com review.
Is NuxTrade Legit?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are infamous for scamming schemes.
So, NuxTrade is just another unregulated forex broker, which means the customers aren’t protected, and there is highly likely they will get away with your hard-earned money and there will be no regulating agency to hold them responsible.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
How does the scam work?
Usually, unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit. And they will try any conceivable method in order to make that happen. They will offer deals that sound too good to be true. Like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, they transfer clients to a smarter scammer, called a “retention agent”, who will try to get more money out of you. Also, one thing we need to add here is: don’t trust the good NuxTrade reviews you might see online. They pay websites and services to improve their online reputation by posting good reviews about them.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It doesn’t matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back NuxTrade?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all, you need to keep the emails as proof that you have been requesting the money back from them but they don’t give it to you. Or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how they deceived you into depositing money for a non-regulated trading company. Mention also that they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact [email protected] but don’t let your broker know they you read this article or that you are contacting us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on where you live, you can search google to find the regulatory agency for Forex brokers in your country. After that you can prepare a letter or an email describing how they deceived you. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you don’t know where to start, reach us at [email protected] and we’ll help you with this step as well.
Make sure you leave NuxTrade reviews in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites. See what other sites have posted reviews about NuxTrade, and describe shortly what happened. If you fallen victim, please leave a review and a comment on this site at the comment section. Also, when these people change their website, they tend to call the old clients. So, if they call you from a new website, mention it in the comment or let us know about it. That would be really appreciated by us by our users. Also, if you get phone calls from other companies, please put the name of these companies also in the comment. Or you can send them to us and we will expose them too.
NuxTrade Review Conclusions
Making the NuxTrade review was our pleasure, and we hope to save as many people from losing their hard-earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our NuxTrade review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade, please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
I wonder like to report my adviser Chris Stanley l had $1.5007 in my account he infested 25% all together I had nearly $2.000 in he informed me it was doing well. All together I invested £800 so things were doing well. I told him that I would like to close it, he then told me that I had $325 to draw out and then close it, what the f##k when I invested £800 pounds and things were going well, invest £800 recover£200 which I still await this company needs to investigate what going off and get back to me as soon as possible
(1/5)
Stay away from this fake platform trading because it is a scam. They will speak nice with you and give you successful trades, just to catch you in their trap. Then they will ask you to deposit more money claiming bigger investments, bigger returns. If you will tell them that you don’t have more money to invest, will propose you to get loans on your name. They are not FCA regulated and if you will ask them to sign or show you any qualifications, will tell you that can do this only for deposits bigger than $50k.
If you want to withdraw your funds, they will reject you claiming that they offered you credit, will tell you to have patience being called by your agent, but will never happen. Dia Melenka was my agent.
Having your funds blocked into their platform, your only option is to continuing trading, but they will milk your funds by increasing their commissions and show you fake trends.
(1/5)
I invested £250 originally in nux trade then more eventually £10,000 all my savings. I was then cohursed and pushed into taking out loans being assured by my advisor there was no problem paying back the loans. He took over my computer looked at my credit score and began looking for pre approved loans next I knew I was £75,000 in debt. All was fine until I wanted to withdraw money to pay first instalments of my loans. Excuses were made and the money not forthcoming. Then last week all went pear shaped my account went to zero and I was told it was closed and nothing they could do. Now I have no savings and am left with a £75,000 in debt with no way of paying it back. This has caused so much stress and anxiety 24/7 and this guy knew my financial situation. So don’t trust or invest
OMG! I just invested £250 2 days ago and now this guy is trying to get me to take out a loan 😫. Exactly the same thing. Now I am trying to see if I can get back my £250.
Can someone tell me how to make a withdrawal?
Donna, I did exactly the same as you on the same day! They are good talkers until you ask questions, then they start being insulting! I think Martin Lewis is partly to blame when he showed us the lady in the studio signing up and making money really quickly. It isn’t like that at all. So after reading other people’s comments and knowing you can’t get your money back. I think Martin Lewis should pay mine and yours back to us, as if it wasn’t for him, we wouldn’t have wasted our money. I’m a 74 year old pensioner they knew that and still took my money! I won’t be able to buy food for a couple of weeks, luckily there’s only me and my cat. I’d like to know what Martin has to say about this. I believed him. 🙁
(1/5)
Hiya, I found out today, that wasn’t Martin Lewis, you and I was watching, so even the interviews are part of the scam , I got pulled in because I thought I was watching Martin Lewis as well
Hi Christine, I’ve read your review on Trustpilot. Sounds like you’re exactly where I am with those con artists. I knew I saw Martin Lewis on TV talking about profit opportunities from trading. For a while I thought I was going mad because i tried to search the interview online to show my solicitor. Now I’ve realised it was AI and some other people were sucked in by the same fake tv interview
(1/5)
I am having great difficulty withdrawing funds and every time I write a review on Trustpilot it is either removed or flagged by NuxTrade to be amended or removed:-(
All you can do is request your withdrawal and hope they approve it! Mine have been rejected so far!
As for the initial £250 I was advised that I had signed up to a learning platform and would have to recover it from them
Good Luck 🤞🏼
(1/5)
Thanks 👍
Yes they told me that I need to recover it from the learning platform. Which is Pipsworkshop. I have send them a email . They have responded to my email saying that I should give them sometime to look into it. That’s almost a week now. 🤞🤞
I got in touch with pipsworkshop directly after reading about your experience and ‘investing’ £499.
I emailed them stating that I would like to exercise my right to a refund. Fortunately, I’d only paid that day. They did reply, although messages went into my junk Mail, so please check yours.
They rang me first and I explained I had changed my mind so they then emailed a confirmation that I would be refunded. That was yesterday and I have just received my refund.
My understanding is that Pipsworkshop are unwittingly being used as a front for these ruthless con men. I’d arranged an appointment a few days in advance so I could do my research. This kept away the constant calls and once I’d confirmed it was a scam I reported the phone number to WhatsApp explaining what they were up to. Then I blocked the number and all other previous numbers they had made contact.
Please report these people to the fraud squad.
I was fortunate enough to act swiftly and retrieve my money. I will now contact Pipsworkshop and inform them of the scam.
I am GLAD I have read these comments because this company does not run like advertised.. You deposit from little as £250 and make money, anytime you can turn on auto pilot which makes trades, watch the money they grow they say BUT IT DOES NOT WORK LIKE THAT! As many are saying wanting more and more money from you.. I deposited £250 and its the same wanting more non-stop which I was thinking until now.. The thing is they only made 6 successful small % trades and nothing more.. I asked about the advertisement and how it was different and they said not to worry, constant calls wanting more money… They must lure you in bye winning 10r 2 small trades then DEMAND more money.. I am TOTALLY glad read these comments because it does not work like advertised people BEWARE!
This company has nothing to do with trading. They are posing as brokers but in fact they are all scammers, conmen and steal your hard earned money. They use fake celebrities online to endorse their trading platform but it is all fake. I for one have been their bait. Two of their employees Jack Jensen and Luck (at least that is what they called themselves) conned me and took my £5262. After i opened an account with weteachacamdey.com i deposit £250 and they transferred me to Jack who from day one was putting pressure on me to invest more if i want good profit. I invested £1000 after two days of opening an account. He them pushed me to invest more to which i said i dont have more money. He pushed me to apply for loan which can be repaid in 2 months. I told him there is no way i would do so. His behaviour started to change and he became extra rude and obnoxious. At one point he told me i don’t have a life. I asked him i want my money back and close the account. He said i cannot close my account unless he wants. He took my £1000 + profit and left my account with zero balance. I then realised he was a scammer. After two months a guy called himself Luke phoned me claiming he is the account manager and found out my money was not returned to me. After i explained what happened, he acted really nice and told me the reason he has called me is because i made 5000 USD and he is now going to pay that back to me. I was surprised and thought Nuxtrade is probably not a scam after all. Luke even tried to speak to me at a personal level asking where i am from and what i am doing and etc trying to win my confidence (please be careful this is all part of their trick). Long story short, he told me that i can only get my money back if i transfer the same amount (£4262) to their account through Ibinex and Moonpay. They will then reimburse me (£8524). He told me to make the payment in 3 parts and once he receives the full amount, he will confirm and pays me the whole amount by the end of the day. I became foolish to listen to his sweet words though at the back of my mind i wasn’t sure i am doing the right thing. But throughout our conversation, he was using convincing words which i later on realised was part of his trick. As soon as i made the £4262 transfer, he stopped communicating and blocked me on WhatsApp through which he was texting me. This is their WhatsApp +447380328354. He and money hard earned money disappeared like thin air and i was left with only £300 in my account. The next day i was travelling for a family emergency and left with no money. I told him this and yet he used my vulnerability and left me with no money. I have filed a complaint to them and waiting for an answer but when companies like Nuxtrade scams innocent people to this extent, chances of them getting back is slim. Whoever is reading this, please please please do not get involved with Nuxtrade and any of its employees as they are all nothing but professional scammers. They not only take your money but also your peace and sleep.
(1/5)
Hi Th, did you get anywhere with them? As your review is very similar to mine.
Hi Th
i am dealing with the same guy Jack Jensen I’ve invested around £800 and all you get from him he wants more, after making a small profit.
i did manage to withdraw $50 back in May but every other request has been rejected since then.
he has not done any trades for me now for over 3 weeks because i told him i work away from home
i started copying another trader and TBH has been successful
i stopped copying just tonight.
i requested another $100 on the 9/08/23 so tomorrow will be 5 days so lets see what happens
Please do not engage with these Scammers Nux Trade. I initially saw a ‘ click bait ad ‘ for Bitcoin Trading (showing This Morning presenters earning profits with Auto Trading Software )
I clicked on link and was diverted to Pips Training with £250 initial deposit.
Then transferred to account handler at Nux Trade.
The Nux Trade representative was indeed charming and polite in every respect and I even managed to make a £60 profit withdrawal after 4 weeks.
But with some open trades showing a loss I was asked to make a more substantial investment (to make higher returns) of say £5,000 or even £10,000 that would not be touched by Nux Trade, as this would always show in a separate account, as this same amount would be matched by Nux Trade.
Too good to be true.
I decided to ask for a withdrawal of my existing funds before I make a large deposit.
I unbelievably received my £200 balance.
(There withdrawal procedure is not straightforward)
Needless to say I will not be investing any further funds and ended my risk taking on the Financial Markets with Potential Scammers.
SCAM ! SCAM ! SCAM
Do not read the good reviews, as they are fake
(1/5)
I would have given zero stars but that’s not an option. Now reading reviews it follows a pattern. Hooking you in for £250 then trading starts. You make small profits for a couple of weeks which gives a settling in time and you feel comfortable. Then in my case I was persuaded to put in another £250. Then the original trader left me in the hands of Ruby. Three trades and all the money had gone down the pan. I tried to get help from customer support and was basically left in the lurch. So, a hard lesson to learn, don’t touch these people with a barge pole. It is a complete scam and no doubt they are continuing to fleece the poor saps who fall for it. I include myself in this.
(1/5)