NEW KNIGHT GROUP LIMITED Forex Broker

General Information Founded in 2007, NEW KNIGHT GROUP LIMITED is a financial brokerage firm registered in Sydney, Australia, with its branches in the United States, Vanuatu and Hong Kong. NEW KNIGHT GROUP LIMITED boasts that it provides access to various trading instruments thorough the MT5 trading platform, and the minimum deposit to start with this forex broker is as high as $1000. Please note that NEW KNIGHT GROUP LIMITED does not hold any regulatory license to show it operates legally. Minimum Deposit In the FAQ section, NEW KNIGHT GROUP LIMITED says that the minimum deposit is 1000 USD, which is absurdly high. most licensed brokers offer more affordable terms for novice traders, including Starter account with a minimum initial deposit of 100 USD or even less. Leverage NEW KNIGHT GROUP LIMITED offers flexible trading leverage from 1:100 to 1:200, generous offering yet with high risk. Leverage may increase potential risks on one hand, but it can cause serious fund losses, especially to experienced traders. So, it is wise for them to choose the safe leverage ratio no more than 1:10. Spreads In NEW KNIGHT GROUP LIMITED MT5 trading platform, we discovered the spread on the EUR/USD pair is starting at 3 pips. However, in the forex industry, a spread over 2 pips is considered wide for forex traders. Furthermore, it is not clear if there are additional commissions for trading. Trading Platform NEW KNIGHT GROUP LIMITED says it provides easy access to the advanced MT5 trading platform, which is among the most popular trading platforms around the world. MT5 trading platform features powerful charting tools, multiple technical indicators, as well as EA supported to operate automated trading. Negative Reviews Some traders shared their awful trading experience on the NEW KNIGHT GROUP LIMITED platform, complaining that this forex broker stole this deposited money, and blocked their trading accounts. This broker involves serious withdrawal problems. Come to WikiFX to see the whole story. Payment Methods Like most scammers, NEW KNIGHT GROUP LIMITED accepts cryptocurrencies as the only payment methods for clients to make a deposit and withdrawal: Scammers prefer cryptocurrencies because these transactions are not subject to refunds. Legit forex brokers typically work with a series of payment processors, such as Credit Cards, PayPal, Skrill, Neteller, and more. Customer Support Worryingly, NEW KNIGHT GROUP LIMITED left its clients nowhere to turn to since no contact information can be found. This can be served as further evidence that this forex broker is just a scammer established purely for extract traders available funds. Risk Warning There is a level of danger that comes with trading on the financial markets. As sophisticated instruments, foreign exchange, futures, CFDs, and other financial contracts are typically traded using margin, which significantly increases the inherent risks involved. Therefore, you should consider carefully whether or not this sort of investment activity is right for you. The information presented in this article is intended solely for reference purposes.