Apparently, this trading brand has been operated by Naristech Corp. This entity should be registered in the Commonwealth of Bahamas, according to the company. However, the headquarters are presented to be in the UK.
These details are already confusing and that’s a sign to get started with detailed research. Obviously, this broker won’t like it, but it’s to protect all traders from them. Therefore, don’t miss a bit in this honest Naristech review.
| Regulated by: | No regulations |
| Is This Company Safe? | No |
| Known Websites: | Naristech.com |
| Have Warnings from: | FSMA |
| Registered in: | UK (allegedly) |
| Operating since: | 2023 |
| Trading Platforms: | Proprietary platform |
| Maximum Leverage: | 1:200 |
| Minimum Deposit: | €250 |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptocurrencies, indices, commodities, shares, forex |
| Free Demo Account: | Not available |
| How to Withdraw from This Company? | Considering license misleading details it’s highly possible traders won’t be able to withdraw their money with this brokerage. If any problem occurs, our chargeback team is available for consultation. Don’t miss a chance to get your money back just because you don’t know the way. Let the pros do the hard work. |
Legal info: Is Naristech Legit or a Scam?
Since the company presents itself as UK-based, it should primarily have the FCA license or TPR (Temporary Permission Regime). Of course, the company doesn’t have them. Instead, they presented us with a FISEU license and also regulatory details of a license issued by the Securities Commission of Bahamas (SCB).
The problem is that license number 199667 B belongs to ActivTrades Corp registered in the Bahamas. So, that’s already a scam sign for the Naristech firm. On top of that, German BaFin has warned traders that FISEU is not an official regulator. So, keep that in mind as well.
Lastly, but most importantly, Belgian FSMA has published a warning for traders with freshly registered scam firms. Guess who’s on the list? Naristech.
Who are Naristech’s Victims?
Since 2023 when this trading brand was established, they were mainly targeting Europeans. Luckily, all these countries have strict regulatory oversight. Therefore, you can expect warnings to pile up slowly. Anyway, if you come from the following countries, be extremely careful:
- Belgium
- Netherlands
- United Kingdom
- Greece
- Denmark
If somehow you fall for the cheap tricks this broker uses, there’s only one thing to do. Reach our refund team and consult about the next steps in the fund’s recovery process. With this brokerage, you’ll definitely need it.
Traders Reviews
Another proof that you need professional recovery assistance can be found in the Naristech reviews. On the Trustpilot platform, we can see almost 40% of negative comments. Even though there are only 42 comments in total, it’s more than enough for a conclusion. Plus, we have to account for the traders who didn’t share their experience at all.
In any case, if you get defrauded by this firm or potentially by other swindlers like Bittra or IM Markets, get in touch with us. Our refund team will adequately inform you about the refund process completely free.
Leverage, Commissions, Spreads, Fees and Taxes
Pretty much all trading costs with Naristech broker are unclear, starting with commissions and spreads. Even though it’s clear there will be fixed costs for each account type, the company doesn’t reveal any details about them. Another problem is that traders can get some discounts only if they deposit more than €100,000. That’s simply unfair.
In any case, there’s one thing known that also exposes the company as a fraud. It has leverage of up to 1:200 while in Europe maximum allowed is 1:30.
Bonuses
Through the Naristech account types, we can’t see if there are any bonuses involved. Sadly, without transparent T&Cs we can’t check them either. Therefore, if you get any suspicious bonus deals, make sure to consult with professionals before accepting those.
Naristech Trading Features
To be honest, there are no advanced features traders can expect with this brokerage. Except for Trading Central signals which are basically signals from indicators, nothing can be described as superb.
All in all, nothing advanced like EAs, auto-trading or anything similar is available.
Trading Platforms Available
In addition to the lack of advanced options, the company only offers a web-based trading platform. Even though the Naristech trading firm claims to offer a wide range of platform options, it fails to deliver. Be sure it’s not the trusted ones like cTrader or MetaTrader.
Available Trading Assets
Tradable assets offered by this broker are nothing you can’t find anywhere else. Except for the fact you won’t have to worry about manipulation with top-tier licensed firms. In any case, you can trade here:
- Forex – GBP/JPY, EUR/SEK
- CFDs – natural gas, Alibaba, DowJones
- Cryptos – ETH, XRP
Account Types
Generally speaking, once traders complete the Naristech login process they’ll have to choose between 7 account type options. Even though there’s a trial version, it still includes payment. So, you better stick to a demo account if you are not sure about it.
Anyway, you can choose between:
- Trial – €250
- Classic – €1.000
- Silver – €10.000
- Gold – €25.000
- Platinum – €100.000
- VIP – €500.000
- Prestige – €1.000.000
Mobile Trading App
If the company was truly offering any trusted software, they would mention it. Consequently, traders would have the option to explore all mobile apps available. Sadly, with only a web-based platform available, there are no trusted apps the company can offer.
Demo Account
We just mentioned traders should test out brokerages with a demo account first. However, with some brokers, such features are not available, primarily because such brokers are hiding all of their flaws. This is also the case with the Naristech app.
Education
When it comes to education, can you believe there are only articles available with this company? Fairly, you can’t learn anything from reading about trading. You have to experience it and the best way is through live sessions and webinars. Of course, such things can’t be expected with this scam broker.
Naristech Withdrawal
Another thing traders have to keep in mind is Naristech withdrawal conditions. Firstly, they will charge a hefty 10% withdrawal fee on the trial account. The more money you deposit, the lower the withdrawal fees are. Apparently.
In addition to that, there are daily withdrawal limits starting at €1,000 for a trial account. Generally, the processing time varies between 48 hours and instant. Of course, it also depends on how big your deposit is.
Customer Support
As can be seen, the company provides traders with a phone line, e-mail, and a web contact form. However, the operating hours of the compliance are not revealed. So, be patient while waiting for their response.
Key Information To Consider About Naristech
All details about this brokerage are fairly misleading, starting with license and platform details. But also, there are warnings and negative reviews traders need to be aware of.
All in all, zero reasons to trust this firm. But if you do, make sure to withdraw your funds as soon as possible. If any problem occurs, don’t hesitate to contact our refund experts for assistance.
FAQ Section
What is Naristech?
Naristech is a trading firm allegedly based in the United Kingdom but with offices registered in the Bahamas.
Is Naristech Legit?
No. Naristech scam company is misleading traders about regulations and it’s already been found on a warning list of the Belgian FSMA.
How to Get Money Back From a Scam Broker?
If you share your experience with our refund experts they can easily guide you through the refund process. Therefore, book a free consultation and find out all you need.
Source:
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