NSBroker: False Promises & Payment Requests

Established in 2021, NSBroker is a forex broker that is hardly a 1-year-old company registered in Malta. Upon checking on WikiFXs database, it was found that NSBroker has many clones with different registered domains. All of them have low WikiFX scores and do not have any regulatory status or valid licenses to support their business operation. In short, WikiFX does not recommend this broker.

This is similar to the case of Wintersnow Ltd that was highlighted recently.

Read here for more information: https://www.wikifx.com/en/newsdetail/202208168284579306.html

In conjunction with NSBroker, WikiFX received an Exposure piece from our user, named Hesta from South Africa, who was unfairly treated by NSBroker.

Hesta was initially approached by a representative of NSBroker on Whatsapp who promised a guaranteed return on her investment. She was convinced and she made the initial deposit.

Her capital grew as she managed to obtain profits.

However, when she wanted to make a withdrawal, she was told to pay several fees, such as income tax payments, brokerage fees, transfer fees, remittance fees, and more.

That was when she realised that she could have been scammed by NSBroker.

NSBroker later changed its name to Fenda Trade.

WikiFX tried to log on the NSBroker website that was provided by Hesta, but it could not be reached.

On the other hand, Fenda Trade looks like a professionally curated website that is here to substitute the old NSBroker.

It could be that the syndicate behind this group has moved on to another “shell” like a hermit crab to continue targeting new victims. Therefore, WikiFX advises our users to stay clear from both NSBroker and Fenda Trade.