Attention! The company is suspected of fraud
Today we will talk about another pseudo-broker that promises quick and guaranteed profits to all naive “Pinocchio”. This is NoorTrades, which offers professional training and successful trading on the stock exchange. Today we will prove why you cannot believe a single word of scammers, and show what the clients of this office say in their reviews.
Basic information about NoorTrades
The broker's website is located at noortrades.com, the content is template, typical for one-day sites.
Get instructions on how to withdraw funds
A minimum of specifics, vague wording and stupid typos. For a serious financial organization, this is unacceptable, but they don’t bother in sharagas.
Let's check the contacts right away, because scammers usually do not indicate physical addresses and phone numbers, preferring one-way communication with the user. So it is, the site does not indicate the address, and for some reason the phone number is Australian.
It also states that NoorTrades is a registered brand of Glastrox Trade Ltd, a corporation that operates offshore in the Marshall Islands and is allegedly headquartered there.
We checked the register of the republic and indeed found such an organization. That's just her status - canceled. And in March 2021.
Please note that the company was founded in 2017, although we see very different information on the website.
Such inconsistencies are a common thing for swindlers who rivet “broker” sites according to one prototype, sometimes forgetting to change the names in the documents. So, in the Terms and Conditions, NoorTrades becomes Broker Jet Co. Ltd.
Further in the text, both the original name and the old one, apparently taken from the previous template, are found. Just like in the “Privacy Policy”, only some 555Markets pops up here.
In general, the Terms and Conditions are a chaotic mess of paragraphs and have nothing to do not only with a legal document, but in principle with a coherent text. Here, for example, they forgot to translate a fragment.
There is generally an incomprehensible mix of English and Russian text.
Such paperwork clearly demonstrates a disregard for both their obligations and the clients themselves. This is confirmed in clause 19 of the agreement. The company disclaims all responsibility for your losses, even if it itself caused them.
It is already clear that we are dealing with scammers, but we will also check the licenses and permissions that every broker should have.
Who regulates NoorTrades and how?
As a rule, such offices like to hide behind fake or other people's documents. But in our case, the scammers decided not to bother. There is not a single mention of a license or permission on the site; there is no clear answer to this question in the FAQ section.
Given that brokerage services are provided on the territory of the Russian Federation, among other things, you need to check the availability of a license from the Central Bank of the Russian Federation. This is a requirement of Law No. 460-F3.
Not surprisingly, there are no records of a license being issued.
Trading offers and account types
Like most pseudo-brokers, NoorTrades focuses on beginners, this is their target audience. They are offered to try their hand at trading with a demo account.
This is considered good practice. But in the reviews, abandoned customers often complain that this is how they were scammed into large sums. By trading virtual currency, the user quickly earns and increases his deposit several times. Believing that everything is easy and simple, he deposits real money, and not small ones, to the “Standard” or “Pro” account.
Please note that when registering, you need to select a leverage.
Such large leverages enable fraudsters not only to appropriate the client's money, but also to make him their debtor.
Real reviews of traders about NoorTrades
The scammers launched their advertising campaign in the spring of 2020, it was then that the first custom reviews about the fantastic earnings on this site appeared on the Web. When real investors pulled up, the picture became clearer.
Here is a detailed review with a detailed description of the work of scammers:
Please note that negative reviews are more specific, while positive ones are full of enthusiasm and vague beliefs in reliability and honesty. Here is an example:
What scheme is bred in NoorTrades?
In this "kitchen" they did not reinvent the wheel. Having enticed a client, managers demonstrate to him the ease and profitability of trading by managing funds on a demo account. At the same time, transactions are not brought to the market, but revolve within the platform itself. Believing that you can earn money here, the user will deposit his hard-earned money into a real account. It is clear that this contribution will end up in the pockets of crooks, and the trader will continue to be milked.
Considering how much leverage is offered when opening an account, you can drain the deposit in a matter of days. The first 1000$ will evaporate instantly, and then the managers will begin their processing, explaining everything with temporary bad luck. In this way, you can extract thousands of dollars from a gullible client, sometimes showing a small profit, but only in order to maintain his excitement. As you can see from the reviews, some compare it to playing in a casino. And it is true, as well as the fact that the office will always win.
Review summary: NoorTrades - scammers without a license and real contacts
We have proved that it is impossible to deal with this sharaga: the activity is not regulated, the contacts are fake, there are no intelligible documents. Yes, and the reviews clearly demonstrate that they do not withdraw money here and do not return deposits. Be careful when choosing a broker and do not trust such "kitchens" as NoorTrades.
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