Note: NoaPrimes official site - https://www.cn.noaprime.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
What is NoaPrime？
NoaPrime, a broker that claimed to be regulated by FCA with license number 470392, is now under suspicion of being a clone. The validity of their regulation is currently in question as the official website of NoaPrime is inaccessible.
However, it is noted that NoaPrime is known for offering a diverse range of trading instruments across various asset classes. With spreads starting from 1.3 pips for their trading accounts, NoaPrime also provides the popular MetaTrader 4 (MT4) platform for their clients.
In the forthcoming article, we will examine the attributes of this broker from different angles, presenting you with concise and well-structured information. If you are intrigued, kindly continue reading. Towards the end of the article, we will provide a brief summary, allowing you to grasp the broker's characteristics in a single glance.
Pros & Cons
NoaPrime Alternative Brokers
Depending on the traders individual requirements and preferences, there are numerous alternative brokers to consider instead of NoaPrime. Some popular options include:
XM - Flexible trading platform with low spreads and a range of trading instruments.
Equiti - A trusted global broker specializing in online trading of forex, commodities, and indices, offering cutting-edge technology, superior execution, and comprehensive market analysis.
Grand Capital – A trading platform that offers traders access to diverse financial markets, advanced trading technologies, and a wide array of investment opportunities across multiple asset classes.
Is NoaPrime Safe or Scam？
There are suspicions that the regulation claimed by NoaPrime, with license number 470392 from the United Kingdom's FCA, is potentially a clone. As of now, NoaPrime does not possess any valid regulation, indicating a lack of oversight by government or financial authorities over their operations.
Besides, the official website of NoaPrime is inaccessible, indicating that the trading platform may have absconded. These make investing with them risky.
Before making any investment decision with NoaPrime, it is crucial to conduct comprehensive research and carefully assess the potential risks and rewards involved. It is generally advisable to choose brokers that are well-regulated to prioritize the protection of your funds.
Market Instruments
NoaPrime offers a diverse range of trading instruments across various asset classes. This includes 45 forex pairs, which cover major currency pairs as well as some exotic currencies like Singapore Dollar, Danish Krone, Swedish Krone, Norwegian Krone, Turkish Lira, Hong Kong Dollar, Chinese Yuan, Hungarian Forint, South African Rand, Mexican Peso, and Czech Krona.
In addition to forex trading, NoaPrime also provides CFDs (Contracts for Difference) on silver, gold, oil, and indices. This means traders can speculate on the price movements of these assets without owning them physically. CFDs on indices allow traders to take positions on the performance of stock market indices, providing exposure to a broader market.
Accounts
NoaPrime provides the Prime account option, which requires a minimum deposit of $5,000. This particular account type is designed to offer certain benefits and features to traders who are willing to deposit this amount. However, it's essential to remember that specific details about account options, deposit requirements, and associated conditions can change over time.
To obtain the most accurate and up-to-date information regarding NoaPrime's account offerings and minimum deposit requirements, it is recommended to contact their customer support.
Leverage
NoaPrime offers a maximum leverage of 1:100 to its traders. Leverage is a tool that allows traders to control larger positions with a smaller amount of capital. With a leverage of 1:100, traders can potentially amplify their profits, as they can trade with up to 100 times the amount of their initial investment.
However, it is important to understand that while leverage has the potential to yield higher returns, it also comes with increased risks. The higher the leverage, the greater the potential for gains, but also the potential for losses. Traders should be aware that trading with high leverage can magnify both profits and losses, and it is crucial to manage risk effectively.
Spreads & Commissions
NoaPrime offers spreads starting from 1.3 pips for their trading accounts. Spreads refer to the difference between the buying and selling price of a financial instrument, such as a currency pair or a stock. The spread is essentially the cost that traders pay to execute a trade.
Besides, due to the unavailable website, there is no access to find out the commission of NoaPrime.
Trading Platforms
NoaPrime offers MT4 for its clients. MT4 is a widely recognized and widely used platform in the financial industry, renowned for its robust features and user-friendly interface.
MT4 offers a range of tools and functionalities that cater to the needs of both novice and experienced traders. It provides access to various financial markets, including forex, commodities, indices, and more, allowing traders to diversify their portfolios and explore different trading opportunities.
Deposits & Withdrawals
NoaPrime offers a diverse range of deposit and withdrawal options for their clients, accommodating various preferences and needs. Clients can fund their trading accounts and withdraw their profits through multiple convenient methods, including credit cards, e-wallets, local payment methods, and wire transfers.
- Credit card deposits provide instant funding, allowing clients to start trading without delay.
- E-wallets like Skrill and Neteller offer secure and efficient fund transfers, ensuring convenience for clients.
- Local payment methods cater to the specific needs of clients in different regions, such as online banking transfers or localized payment platforms.
- Wire transfers provide a reliable option for clients preferring traditional banking methods, ensuring security and stability.
Customer Service
Customers can visit their office or get in touch with customer service line using the information provided below:
Telephone: +44 203 734 7057
Email: support@noaprime.com
Moreover, clients could get in touch with this broker through the social media, such as Twitter and Facebook.
Conclusion
In conclusion, there are concerns surrounding the regulation claimed by NoaPrime, as their FCA license number (470392) is suspected to be a clone. The official website of NoaPrime is currently inaccessible, further raising doubts about the validity of their regulation.
It is crucial for individuals to exercise caution and thoroughly research the regulatory status of any broker before engaging in trading activities. Staying informed and choosing a regulated and reputable broker is vital for ensuring the safety and security of one's funds and investments.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
