Neferma Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this Neferma Review.
Neferma Review
Neferma is a forex broker that offers three types of live trading accounts ECN swap free, Cent ECN swap free and Classic. The first two are swap free, while the third one has a market swap. All three have a 10% stop out option. There is no demo account.
Clients can trade in 28 major forex pairs, plus 20 exotic pairs and CFDs on several indices, gold, silver, some agricultural products, oil and stocks.
The company. Security of funds.
Neferma is one of the shadier forex brokers we have come across. Aside from the fact that it does not provide any regulatory information, there is no clearly visible company info either. After some digging we have found the “Client Agreement”, which mentions ROX Commerce GmbH. It appears the company is registered in another famous offshore zone – the Seychelles.
According to the contact details, Neferma’s headquarters are in downtown Copenhagen, the call center is in Seoul and the “technical office” is located in Dubai. The broker says it does not provide its services to clients in the US and Canada.
As per the client agreement, the client money is held in segregated accounts, but the overall feeling is that the broker is pretty dodgy, to say the least, and the wisest thing to do is to avoid it.
Trading platforms
Neferma offers a trading platform called “Neferma Trader”, which claims to be “one of the most popular CFD and FOREX trading platforms in the world”. Small wonder, considering that actually this is MetaTrader 4 (MT4) – indeed one of the most popular and widely used trading platforms for margin trading in forex and CFDs. The fact that the broker does not state that the trading platform is in fact MT4 strikes us as somewhat odd. Usually the brokers promote the availability of MT4 – a platform that has been on the market for more than 10 years and most traders are well familiar with and which has many functionalities and additional plugins.
Promotions
Neferma offers a “no deposit bonus”. This is a bonus of $150 on the ECN swap free account. According to the conditions, a client can in theory get the bonus unlimited times, with the condition that each time s/he provides a new number of a valid credit card. Profits made from trading with the bonus can be withdrawn via bank transfer.
Methods of payment
Neferma accepts deposits via bank transfer, credit/debit cards and the online payment systems Paypal, Skrill, Neteller, Qiwi, Webmoney and Lavapay.
Neferma is yet another offshore broker, which in itself is a reason enough for investors to be doubtful. But there are other unusual things which suggest this could be a scam. Take, for example, the no deposit bonus. The mere fact that all a client must do in order to get it, is open an ECN swap free account and give the broker his/her credit card number is rather dubious. After all, we have all heard of brokers who withdraw funds from people’s credit cards and make off with the money.
Another strange thing is the broker’s decision not to promote the fact that it uses MT4 as a trading platform.
The Broker is not a safe forex broker, Instead you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
Neferma Review Conclusion
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