neotrades Forex Broker
Basic Information
Mauritius
2-5 years Suspicious Regulatory License Self-developed Suspicious Scope of Business High potential riskCompany profile
Pros
Secure trading platform with advanced technology and tools
Wide range of trading instruments, including over 1,000 CFDs and forex options
User-friendly app with features like copy trading and dedicated account representatives
Cons
Regulatory status limited to the Financial Services Commission (FSC) in Mauritius
High minimum deposit requirement of $1,000 for live accounts
Lack of detailed information on trading fees and commissions for unregistered users
Neotrades Forex Broker - Complete Information Guide
1. Broker Overview
Neotrades is an international brokerage firm established in 2022. The company is headquartered in Port Louis, Mauritius, and operates under the name Neotrades Capital Ltd. As a private entity, Neotrades primarily serves retail clients looking to trade in various financial markets, including forex, contracts for difference (CFDs), stocks, and commodities.
Since its inception, Neotrades has aimed to provide a user-friendly trading environment, catering to both novice and experienced traders. The broker has made significant strides in the industry, establishing itself as a notable player among online trading platforms. A key milestone in its development was the introduction of innovative trading features, such as copy trading and PAMM accounts, allowing investors to benefit from the expertise of seasoned traders.
Neotrades operates primarily in the retail forex market, offering a diverse range of trading instruments and services. The company's business model focuses on providing accessible trading solutions, enabling clients to engage in various investment strategies while leveraging advanced trading technology.
2. Regulatory and Compliance Information
Neotrades is regulated by the Financial Services Commission (FSC) of Mauritius, which oversees its operations and ensures compliance with local laws. The regulatory number associated with Neotrades is GB21200093. However, it is important to note that the FSC is considered a tier-3 regulator, which means that it may not provide the same level of investor protection as more stringent regulatory bodies, such as the FCA in the UK or ASIC in Australia.
The FSC's oversight includes basic compliance requirements, but it does not offer an investor compensation fund, which raises concerns regarding the safety of client funds. Neotrades implements a Know Your Customer (KYC) and Anti-Money Laundering (AML) policy, requiring clients to verify their identity and address before trading.
Client funds are held in segregated accounts, providing an additional layer of security. However, the lack of a robust regulatory framework means that traders should exercise caution when dealing with this broker.
3. Trading Products and Services
Neotrades offers a wide variety of trading instruments, including:
- Forex Currency Pairs: The broker provides access to over 25 currency pairs, including major, minor, and exotic options.
- CFDs: Clients can trade CFDs on various asset classes, including:
- Indices: Major indices from global markets.
- Commodities: Precious metals, energies, and agricultural products.
- Stocks: Shares from leading companies worldwide.
- Cryptocurrencies: A selection of popular digital currencies.
Neotrades continuously updates its product offerings, ensuring that clients have access to new and emerging markets. The broker's retail trading services are complemented by features such as copy trading and PAMM accounts, which allow clients to invest in managed accounts or replicate the strategies of successful traders.
4. Trading Platform and Technology
Neotrades supports the MetaTrader 5 (MT5) platform, a widely recognized trading software known for its advanced features and user-friendly interface. MT5 allows traders to utilize multiple order types, conduct technical analysis, and automate trading strategies.
In addition to the desktop version, Neotrades offers a web-based trading platform, enabling users to trade directly from their browsers without the need for downloads. The broker also provides mobile applications for both iOS and Android, ensuring that traders can access their accounts and execute trades on the go.
The execution model employed by Neotrades is primarily Market Making, which may introduce potential conflicts of interest. The broker's servers are strategically located to facilitate quick trade execution, enhancing the overall trading experience.
5. Account Types and Trading Conditions
Neotrades offers three main account types, each with varying features and minimum deposit requirements:
- Standard Account: Requires a minimum deposit of $1,000 with spreads starting from 1.8 pips. This account is suitable for beginner traders.
- Advanced Account: Requires a minimum deposit of $5,000 and offers tighter spreads starting from 1 pip. This account is designed for more experienced traders.
- Expert Account: Requires a minimum deposit of $25,000 with spreads starting from 0 pips. This account provides the most advanced trading conditions and personalized support.
All account types allow for leverage of up to 1:400, enabling traders to amplify their exposure to market movements. The minimum trade size is set at 0.01 lots, and overnight fees may apply depending on the positions held.
6. Fund Management
Neotrades supports various deposit methods, including:
- Bank Transfers
- Credit/Debit Cards (Visa, Mastercard)
- E-Wallets (Skrill, Neteller)
The minimum deposit requirement varies by account type, with the standard account starting at $1,000. Deposits are generally processed quickly, with no fees associated with the funding of accounts.
Withdrawal methods include the same options as deposits, but the broker does not specify any withdrawal fees publicly. Clients have reported varying experiences regarding withdrawal processing times, which can be a concern for some users.
7. Customer Support and Educational Resources
Neotrades provides customer support through multiple channels, including:
- Phone: Available in several countries.
- Email: Support is accessible via email.
- Social Media: The broker maintains a presence on platforms like Facebook, Instagram, and Twitter.
Customer service operates from 6 AM to 1 PM GMT, Monday to Friday. The support team is multilingual, catering to a diverse client base.
While Neotrades offers some educational resources such as market analysis and webinars, comprehensive training materials are limited. Traders seeking in-depth education may need to look elsewhere or utilize external resources.
8. Regional Coverage and Restrictions
Neotrades serves clients from over 150 countries, providing access to a wide array of financial markets. However, it does not accept clients from the United States and certain other jurisdictions due to regulatory restrictions.
The broker has a presence in various regions, with local offices to enhance customer service. Despite this, potential clients should be aware of the risks associated with trading with an offshore broker like Neotrades, particularly regarding regulatory oversight and fund safety.
In summary, while Neotrades offers a range of trading products and features, it is essential for potential clients to conduct thorough research and consider the risks involved in trading with an offshore broker. As with any investment, understanding the broker's regulatory status, trading conditions, and overall reputation is crucial for making informed decisions.
neotrades Similar Brokers
Latest Reviews
FX9786704352
United Arab Emirates
Warning: Neo Trades is a Scam Broker I’ve been scammed by Neo Trades and want to warn others. They aggressively push you to deposit funds, but when you try to withdraw your profits, they make it impossible. They imposed a ridiculous condition, demanding a trading volume of $35 million to withdraw just $1,000. When questioned, they hide behind their "terms and conditions" booklet. Beware of their fabricated positive reviews designed to trap new customers. Stay away from Neo Trades and don’t fall for their tricks. Share this to protect others.
Exposure
2024-12-18
dao4129
Vietnam
Advertisement is to withdraw money during the day, only 1-2 hours. Today, I placed an order to withdraw from early morning until late at night.
Exposure
2023-08-18
Rodríguez6
Colombia
Neotrades is alright, gotta say. Order execution for forex is super fast, nice. But bummer, they don't have cTrader, which is my jam. They have MT5, which is okay, but cTrader's just easier for me to use.
Positive
2024-05-29
Golden888
Malaysia
Trading with Neotrades has been a rewarding experience. Their platform operates seamlessly - no lags, no delays, just swift trading. I appreciate their reasonable trading conditions and diverse asset variety. Their PAMM accounts and copy trading features are also quite beneficial. Perfect!
Positive
2024-04-26
Cuong4444
Vietnam
LETTER OF APPEAL: NEOTRADER AND THE INVESTOR COMMUNITY! I am an investor on the floor with a registered trading account cuong5422004@gmail.com. The person who guided me to open an account with zalo nick name: A HOANG, after the application was approved. Someone called me and introduced himself as an employee of the exchange who was assigned to monitor and support my account throughout the transaction process. His telegram username is: @Minhvy68, investment consulting on buying and selling gold and stocks. . This person asked me to deposit with a deposit of 1000 USD and receive a bonus of 1000$ on January 24, 2024 and I make transactions with the exchange from this date. During the transaction, I linked my wallet to my bank account but it didn't work. I asked her and she didn't answer. After a period of trading, my account was burned (deposit and Bunos). Later, I joined a group with someone claiming to be an expert on a floor specializing in education and consulting (Live investment on Neotrader floor) with his own zalo group and telegarm nickname: Adam Hoang. I was contacted and instructed to deposit money back into the exchange with a 100% bonus. I deposited $1,000 and received another $1,000 in KM on February 28, 2024. I sent the bill to Adam Hoang. This person said do you want @Minhvy68 to continue supporting you? Because I was not loyal before, I asked to change to another person. There are others who advise, but it's no different from @Minh vy 68, so I trade on my own. After 1 period of trading, my account has increased to nearly $5,000 (both principal and interest). During the transaction process, I often linked my wallet to the bank but all failed. Then I contacted @Minhvy68 to help me link my wallet to my bank account so I could withdraw money. This person said that my profile has been managed by someone else so it cannot be processed. I earnestly asked her to contact the superiors associated with the wallet so I could handle personal matters and on March 11, 2024, she said the exchange had agreed to let me withdraw money and said: Guys. Just finished the meeting, there is a 100% bonus promotion for anyone who deposits 3000$ or more and includes 1 gold implant worth 730$ and only I can withdraw 2000$ (the original money I deposited on January 24 and 2/28, the profit cannot be withdrawn) She said that when you successfully withdraw $2,000, you will deposit $3,000 again to receive promotional money, and 01 tael of gold and promised to help me withdraw $1,000 principal and $730 bonus. out to cover personal expenses) March 12, 2024 at 05:41:20 my withdrawal order was successfully processed and the money returned to my account. Then I recharged $2000 according to the instructions on the Web to account: 1039520092 account holder TRAN THI LOAN at VCB bank - Joint Stock Commercial Bank for Foreign Trade of Vietnam. with transaction code ACSP/RZ226645. Next, at 10;41;00 (Vietnam time) on March 12, 2024, I deposited another 1000& into the above account with transaction code Q1804286. When completed, the account only received a bonus of $500 and the bonus and gold. ($730 and 100% bonus) is not available. After completing the deposit, I sent this deposit bill to @Minhvy. This lady said she had received my application and forwarded it to the superiors to wait for approval and said she would finish it by early afternoon and make the withdrawal order. When I contacted her again in the afternoon, she said she wouldn't approve until 5pm. Around 4:00 p.m. on the same day, someone called me from my telegram account saying he was from Neotrader and read my name, my MT5 trading account, and informed me that I had a withdrawal order but because the wallet had not yet been linked to my bank account. So you need to execute this platinum code transaction order to link and withdraw money. I made a buy order as they told me with a volume of 3.0, my account was negative by $2,700, then she told him to enter a sell order with volume so I followed. Immediately my account had negative principal and bonus. I quickly contacted Minh Vi and she told me I had been scammed and asked me to handle it so he had to recharge the amount of $3,000 to save the account from being burned. I didn't agree and said I couldn't have the money. She told me how much money I could get and I would support you to save my account, but I knew I had been scammed so I didn't follow up to deposit. After this happened, I posted to the Zalo group with expert ADam Hoang and was blocked and kicked out of the group. @Minh vy changed his telegram account. The person who called me said he was trading platiium code, but I didn't know I was scammed. I am mentioning it here with attached evidence, hoping that the floor and the community can help me regain justice and if the floor is honest, it will protect its reputation as well as the rights of genuine investors. . Any information I would like
Exposure
2024-03-29
FX3802246301
United Arab Emirates
They pressured me to deposit more money, but I refused due to the risk. Then they offered a promo: if I deposited $2,500, one trade would be "risk-free" for 30 days — they'd recover it if I lost. I accepted, made some profit, then lost $1,000 on a trade. They initially refused to cover it, only agreed after I threatened to stop investing — but gave it back as a bonus, not real money. I continued trading, doubled it to $2,000. Suddenly, my account was wiped to zero — all funds and profits gone. They claimed a hidden clause allowed them to revoke the bonus and all profits if I didn’t meet a trade volume within 30 days. This felt like a setup they got me to trade for a month, then used fine print to take everything. Very misleading and unethical behavior.
Exposure
2025-07-17