NOAH Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
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The customer's transaction records since 8.1, the commission and details cannot be queried in the background, and the agent does not reply
In the ever-evolving landscape of online trading, Noah has emerged as a broker that warrants scrutiny. This review synthesizes various sources to provide a comprehensive overview of Noah's offerings, user experiences, and expert opinions. Overall, Noah has been characterized by a lack of regulation, which raises significant concerns regarding its trustworthiness. However, it offers a range of trading instruments and competitive spreads, making it appealing to certain traders.
Note: This review highlights the importance of understanding the regulatory landscape, as Noah operates without recognized regulatory oversight, which can vary across regions.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Setup/Experience | 6 |
| Trustworthiness | 2 |
| User Experience | 4 |
How We Rate Brokers: Our ratings are based on a thorough analysis of user reviews, expert opinions, and factual data from credible sources.
Noah, founded in 2021, is a Seychelles-based brokerage firm that provides access to various financial instruments, including forex, commodities, indices, stocks, and cryptocurrencies. The platform primarily utilizes the MetaTrader 5 (MT5) trading interface, which is popular among traders for its advanced features and user-friendly design. However, it is crucial to note that Noah is not regulated by any major financial authorities, raising questions about its reliability and the safety of clients' funds.
Regulated Regions: Noah operates without regulatory oversight, which is a significant red flag. According to multiple sources, it has been flagged as an unregulated broker, which can pose risks to traders, particularly in terms of fund security and dispute resolution.
Deposit/Withdrawal Currencies/Cryptocurrencies: Noah supports various deposit methods, including local bank transfers and cryptocurrency options like USDT (Tether). The minimum deposit requirement is set at $200, making it accessible for many traders. However, specific withdrawal policies and fees are not clearly outlined, which could lead to unexpected costs.
Minimum Deposit: As mentioned, the minimum deposit to open an account with Noah is $200. This relatively low entry point may attract novice traders looking to start their trading journey.
Bonuses/Promotions: There is no substantial information regarding bonuses or promotions offered by Noah, which is often a common practice among brokers to attract new clients.
Tradeable Asset Classes: Noah provides a diverse range of asset classes, including forex, precious metals, indices, stocks, cryptocurrencies, and crude oil. This variety allows traders to diversify their portfolios and explore different market opportunities.
Costs (Spreads, Fees, Commissions): Noah offers competitive spreads starting from 0.0 pips on its standard account, with no additional commission fees. However, its essential to be aware of potential overnight fees that apply when positions are held beyond midnight server time.
Leverage: The broker provides leverage of up to 1:100, which can amplify both potential profits and losses. While leverage can be beneficial, it also increases the risk, making it crucial for traders to implement effective risk management strategies.
Allowed Trading Platforms: Noah primarily uses the MT5 platform, which is compatible with various devices, including Windows, macOS, iOS, and Android. This flexibility allows traders to access their accounts and trade on the go.
Restricted Regions: Notably, Noah does not accept clients from the UK, EU, or the USA, which limits its market reach. This restriction is often a sign of regulatory issues and should be a consideration for potential clients.
Available Customer Service Languages: Noah provides customer support through various channels, including phone and online messaging platforms like QQ and WeChat. However, the overall quality of customer service has received mixed reviews, with some users reporting difficulties in receiving timely assistance.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Setup/Experience | 6 |
| Trustworthiness | 2 |
| User Experience | 4 |
In conclusion, while Noah offers a variety of trading instruments and a user-friendly platform, the significant lack of regulation and mixed user reviews suggest that potential clients should proceed with caution. It is advisable to consider alternative brokers that offer better regulatory oversight and customer support.
