NGL Forex Broker provides real users with * positive reviews, * neutral reviews and 2 exposure review!
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He is a fraud who has a complete fake profiles including company address, company videos, license and phone. He also pretends to meent you. Be careful since there are so many investment advertisements in many group chats.
Fraud platform. I called the police.
In this comprehensive review of NGL, we delve into the various aspects of this forex broker based on recent findings. While NGL offers the widely recognized MetaTrader 4 platform, its lack of regulation raises significant concerns among potential clients. Users have reported mixed experiences, with notable issues regarding withdrawals and customer service.
Note: It's essential to recognize that NGL operates under different entities across regions, which might affect its services and regulatory status. This review aims for fairness and accuracy by synthesizing information from multiple sources.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Setup (or Experience) | 5 |
| Trustworthiness | 2 |
| User Experience | 3 |
| Additional Rating | 4 |
How We Rate Brokers: Our ratings are based on a combination of user feedback, expert analysis, and factual data regarding services offered.
Founded within the last 5 years, NGL, or New Goba International Investment Limited, is based in Hong Kong and primarily operates without regulatory oversight. The broker offers trading on the MetaTrader 4 platform, which is popular among traders for its user-friendly interface and extensive trading tools. However, specific details regarding tradable assets, account types, and minimum deposits remain scarce, raising concerns about transparency. NGL is currently unauthorized by the National Futures Association (NFA) in the United States, which further complicates its legitimacy and trustworthiness.
Regulated Areas/Regions: NGL operates primarily in Hong Kong but lacks regulatory approval in major markets such as the United States. This unregulated status poses significant risks for clients, as they are not afforded the protections typically provided by regulated brokers.
Deposit/Withdrawal Currencies/Cryptocurrencies: The available information on deposit and withdrawal methods is limited. There is no clear indication of which currencies or cryptocurrencies are accepted, which could hinder potential clients' ability to manage their funds effectively.
Minimum Deposit: Specific details about the minimum deposit required to open an account with NGL are not readily available. This lack of information can deter potential clients who seek clarity before committing their funds.
Bonuses/Promotions: NGL does not appear to offer any educational content, bonuses, or promotional offers, which is common among many regulated brokers. This absence could indicate a lack of commitment to attracting and retaining clients.
Tradable Asset Classes: There is little information about the range of tradable assets available through NGL. The lack of transparency regarding market instruments raises concerns about the broker's credibility and ability to meet the diverse needs of traders.
Costs (Spreads, Fees, Commissions): The absence of clear information on spreads, fees, and commissions further complicates the decision-making process for potential clients. Traders typically need to understand the cost structure before engaging with a broker.
Leverage: NGL does not provide specific details about leverage ratios, which are crucial for traders looking to manage their risk effectively. The lack of transparency in this area is concerning.
Allowed Trading Platforms: NGL exclusively utilizes the MetaTrader 4 platform, which, while popular, limits clients' options for trading software. Many competitors offer multiple platforms, giving clients more flexibility.
Restricted Regions: Given its unregulated status, NGL may be subject to restrictions in various regions. However, specific details about these restrictions are not provided.
Available Customer Service Languages: NGL offers customer support primarily through QQ, a popular messaging platform in China. However, the absence of multiple communication channels raises concerns about the quality and accessibility of customer service.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Setup (or Experience) | 5 |
| Trustworthiness | 2 |
| User Experience | 3 |
| Additional Rating | 4 |
Account Conditions (3/10): NGL lacks transparency regarding account types and minimum deposit requirements, which can deter potential clients.
Tools and Resources (4/10): The availability of MetaTrader 4 is a positive aspect; however, the absence of educational resources limits traders' learning opportunities.
Customer Service and Support (2/10): Users have reported significant difficulties with withdrawals and poor customer service experiences, raising concerns about the broker's reliability.
Trading Setup (or Experience) (5/10): While the trading platform is familiar and widely used, the lack of information on costs and available assets detracts from the overall experience.
Trustworthiness (2/10): NGL's unauthorized status with the NFA and mixed user reviews contribute to a low trust rating among potential clients.
User Experience (3/10): Overall user experiences appear to be mixed, with some clients expressing concerns about withdrawal issues and the authenticity of the company.
Additional Rating (4/10): The lack of promotional offerings and educational content is a notable drawback, impacting NGL's appeal to potential traders.
In conclusion, while NGL may offer a familiar trading platform, its lack of regulation and transparency raises significant concerns. Potential clients are advised to exercise caution and thoroughly evaluate their options before engaging with NGL. As highlighted in this NGL review, understanding the risks involved is crucial for making informed decisions in the forex market.
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