Nextonbid Review: Is Nextonbid.com a Legitimate Site or a Fraud?

Described as a means of achieving financial independence and a significant player in CFD trading, nextonbid.com is nothing more than a fraudulent website, as revealed by the British Columbia finance authorities (BCSC). The company lacks the necessary license to offer trading services. 

Moreover, we will show you many complaints about poor customer service and lack of transparency. Therefore, we caution you against using this website and suggest exploring alternative trading platforms that are more reliable. Additionally, we urge you to read reviews from other users before making decisions. Let’s dig deeper into this Nextonbid review. 

Regulation and Security of Nextonbid

Let’s start with the recent warning issued by the British Columbia Securities Commission (BCSC) regarding Nextonbid and their company Reddy Keddy Limited. The BCSC warning reveals that Nextonbid offers trading forex, stocks, crypto, commodities, indices, and NFTs. 

Despite claiming to be from the United Kingdom, Nextonbid is not registered to trade in British Columbia. It is not licensed or authorized by the Financial Conduct Authority (FCA) in the UK. As a result, the website’s legitimacy and location are questionable. Namely, residents of British Columbia are advised to exercise caution when dealing with unregistered trading firms in the area.

In summary, Nextonbid is a scam that should be avoided if you value your funds’ safety. Always double-check your new broker’s identity and license credentials before depositing. We recommend checking regulatory authorities’ registers and avoiding suspicious brokers.

The Truth Behind Nextonbid’s Trading Platform

Nextonbid’s web-based platform is quite simple, which could indicate a lack of the necessary tools to support professional traders. A trustworthy broker should offer proven professional trading software, such as the industry-standard MetaTrader 4 or MetaTrader 5, to their clients. If your chosen broker fails to provide such software or equivalent options, it could be another warning sign of a potential scam.

Before investing your funds, research and evaluate your broker’s trading software. Besides, check their customer support and ensure you choose a reputable and regulated broker with top-notch trading tools. This will help minimize fraud risks.

Account Types Offered

Nextonbid includes six account types, ranging from Main to VIP. However, despite the $250 minimum deposit requirement, Nextonbid is still a scam. This is reported by many traders who have faced withdrawal issues, delays, and poor customer service. Therefore, investing in this company is not recommended.

It is crucial to conduct thorough research and evaluate a broker’s reputation and credibility before entrusting them with your funds. Always prioritize your safety and exercise caution to avoid falling prey to fraudulent schemes. Beware of that. 

Note: Be careful when dealing with Nextonbid, Liquidspro, and similar companies. Your safety should be your top priority.

Deposit and Withdrawal Procedure

Nextonbid’s payment methods are limited to crypto. This is not surprising for a scam website. Cryptocurrency transactions take much longer to trace, making it an ideal choice for scammers who want to avoid refund requests. Unfortunately, you also cannot know who owns the Bitcoin wallet you send your money to.

On the other hand, if you make a deposit using a credit or debit card and something goes wrong, you can file for a chargeback with the bank that issued your card. This allows you to reverse the payment and recover your funds potentially. If you are dealing with an unregulated broker like Nextonbid or TradeSmart1, we advise you to take immediate action and file for a chargeback if necessary.

Withdrawing funds from an unregulated and anonymous website like Nextonbid may prove impossible. Moreover, you may be surprised that you must pay a processing and handling fee. That is regardless of whether your withdrawal request is approved. 

Additionally, if you have accepted a trading deposit, you may be subject to a minimum trade volume rule. It makes it difficult or impossible to withdraw funds. It’s crucial to choose a reputable and regulated broker to avoid these kinds of issues.

Offshore Brokers: Understanding Their Fraudulent Practices

Unregulated offshore brokers exploit regulatory loopholes to cheat their unsuspecting clients. They establish their operations in lands with lax laws and lure traders with high returns and low fees.

Fraudulent brokers use various tactics, including offering bonuses and incentives, to encourage traders to deposit more funds. Once they have gained their trust and secured their deposits, they manipulate trades or deny them access to their accounts. This makes it challenging, if not impossible, to withdraw funds.

To further scam traders, unregulated offshore brokers manipulate trading results and charge excessive fees. They may even steal client identities or funds. To appear legitimate, fraudulent brokers may use fake reviews and testimonials too.

It’s a well-known fact that offshore brokers operate without licenses, leaving victims with little or no recourse for refunds. Therefore, it’s essential to research a broker’s credentials, reputation, and regulatory status before entrusting them with your funds. Avoid unregulated offshore brokers with fraudulent histories.

Nextonbid Summary

Nextonbid, which claims to be based in the UK and offers forex, stock, crypto, commodity, index, and NFT trading, is actually an unregulated and bogus website, according to the British Columbia Securities Commission (BCSC). 

The company, which is not licensed by the Financial Conduct Authority (FCA) in the UK, lacks the necessary licenses to offer trading services. Also, it lacks transparency and good customer service. Therefore, Nextonbid is a scam that should be avoided. Traders should carefully research and evaluate broker reputations and regulatory status before depositing funds.

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