NG Forex Broker

NEW GALA Securities Company Limited, referred to as 'NG', was established in Hong Kong in 2003. It is an international online provider of indices, precious metals, and related services, all of which are offered without charging commissions. However, there are suspicions regarding the authenticity of its regulatory license.Pros and Cons Pros Cons High Maximum LeverageSuspicious Clone Regulation MT4 Trading PlatformLimited Account Type Multiple Educational ResourcesNo Demo Account No CommissionIs NG Legit? The current regulatory status of NG is considered a suspicious clone, which means it may be using the regulatory license of a legitimate company to conduct business, leading you to believe that it is under legal supervision. Before trading with NG, you must be cautious and verify its authenticity.What Can I Trade on NG? You can trade commodities and indiceson NG. Commodities: On NG, the commodities available including oil and precious metals. Crude oil is an important international commodity and financial asset and serves as a hedge against inflation, which contributes to its exceptionally active trading volume. For precious metals, you can trade gold and sliver on NG. Indices: The indices available on NG including Hong Kong Hang Seng, Nasdaq, Dow Jones, S&P 500, Frankfurt DAX, London Financial Times 100 (also known as the FTSE 100), CAC 40 (of France, Paris), and others. Tradable Instruments Supported Forex Pairs❌ Commodities✔ Indices✔ Cryptocurrencies❌ Shares❌ Mutual Funds❌Account Type On NG, there is only one account type available, and a demo account is not provided. This is unfriendly for beginners, as you are unable to conduct simulation training and there is an increased risk of losing funds. NG Fees NG does not charge any commission, but there is a three-day overnight interest charge on Wednesday, and the specific fee is not disclosed. For the common precious metal spot gold, spread is fixed in 25 points, and the rest of the products are 25 points spread and floating spread. Additionally, the leverage ratio offered by NG is relatively high, with the maximum leverage up to 1:400.Trading Platform NG supports trading on MT4, which is a globally renowned trading platform. You can check your transaction at anytime, whether on your computer or mobile phone. Trading PlatformSupported Available Devices MT4✔computer and mobile phone MT5❌Customer Service You can contact NG through phone, email, or their physical address. Contact Options Details Phone+852 5697 3327 Emailhknewgala@gmail.com Supported LanguageEnglish, traditional Chinese Website LanguageEnglish, traditional Chinese Physical AddressRoom 1106, Lai Ching Centre, 88 Queen's Road Central, Hong KongThe Bottom Line In a word, trading a variety of products and indices on NG is commission-free with high leverage, however, it entails significant risks as the broker holding a suspicious clone license. Therefore, you are advised to choose a broker with legal regulations to ensure your assets safety.FAQs Is it safe to trade with NG ? No, trading with NG is unsafe given the suspicious nature of their clone license. What is the maximum leverage offered by NG? The maximum leverage is 1:400. Does NG provide a demo account? No, demo account is not available in NG.