NOOBEX Review – Social Networks Crypto Scam Exposed

Generally, when a company presents itself as a trusted platform and doesn’t reveal legal information, there must be something wrong. Neither do they mention any relevant individuals or reveal their operating location.

In the end, all these firms manage to scam a certain number of traders. How? Let’s find out in this unbiased NOOBEX review.

Legal Info: Is NOOBEX Legit Or A Scam?

As mentioned, legal information is missing. So, what could make this company legitimate? Honestly, only if a top-tier license is issued by authorities like FCA, BaFin, ASIC, SEC, or similar. Consequently, if the company had any of these licenses they would be required to be more transparent. But to be fair, they would present their license details transparently and proudly.

Nevertheless, the reality is a bit different. None of these institutions ever issued licenses to this firm. Therefore, all the security features the company offers become just a fairytale.

Who Are NOOBEX’s Victims?

Through the NOOBEX reviews, we can see the company has been mainly targeting Europeans. However, a few countries stand out from the group. Those are: 

• United States
• France
• United Kingdom

All these countries have top-notch regulatory authorities. Yet, NOOBEX exchange is not authorized by any of these. So, you better withdraw your money immediately from them. Or at least try so you have a reasonable ground for a refund. For refund assistance, feel free to contact our experts.

Traders Reviews

Fairly, comments about the platform and mobile app on Trustpilot don’t look good. Even though there are only a few, everyone tells the same story. It seems this company has been targeting users over social networks like Telegram and WhatsApp. Inexperienced users and mostly older people can easily fall for such traps.

But to learn how transparent companies operate check our LDN Global Markets review. Ultimately, when you realize NOOBEX has been scamming you, reach us for refund advice.

Leverage, Commissions, Spreads, Fees and Taxes

One of the leading causes of investment scam through the NOOBEX app is hidden investment costs. The company’s staff can always present you with some non-sense fees or commissions you have to pay. The problem is that they require upfront payments instead of taking from the account. That should ring a bell not to trust them.

Bonuses

Generally, bonuses with legit crypto exchanges happen from time to time. Mostly during ICOs. However, with an exchange that offers only 50 cryptos, that’s a less probable option. In any case, currently, there are no bonus offers with this company

NOOBEX Trading Features

If the company was licensed properly their features would be worth the time. Especially with NFTs in the offer, but also perpetual futures and options trading. Thus, when you access the platform you will realize there is not a single advanced trading feature available.

Trading Platforms Available

Before you even complete the NOOBEX login process you can find out there are no downloadable apps for desktops. This raises another suspicion with this company. That’s a risk of platform manipulation.

Fairly, apps can be also designed to be fraudulent. But they wouldn’t bother designing those if their plan is to disappear. Anyway, with only a web-based platform and limited functionalities, you have another reason to avoid this firm.

Available Trading Assets

As can be seen, the company advertises only access to a bit more than 50 cryptocurrencies. In general, that limits your profit potential. So, you might reconsider your investment choices. For more clarity, we advise you check our TMi Markets review. In any case, with NOOBEX you can expect: 

• BTC
• IOTA
• LTC
• ETH and a few more.

Account Types

One of the ways to extort more money from users is through different account types. On the positive side, there are no such offers with this company. Or at least they want us to think so. In any case, minimum requirements to get started are not revealed. So, you can expect literally anything.

Mobile Trading App

Another way to understand if is NOOBEX legit is through their mobile apps. They present us with iOS and Android apps available in trusted stores. However, these apps don’t exist there. Instead, you’ll have to download them from the company’s website. But that’s where the catch is. Downloaded files might be corrupted. Therefore, be careful.

Demo Account

If you still decide to test out this exchange, you’ll have to do so with a real account. Sadly, demo accounts are not on the offer. However, the catch is that you can’t register without an invitation code. Is it a sign to keep your money away from them? Surely yes.

Education

If you are into learning how to trade cryptos, this platform is certainly not the place for that. With only a few articles available, you won’t be learning much. Instead, choose top-tier licensed firms and start trading and learning properly.

NOOBEX Withdrawal

Most of the NOOBEX complaints include withdrawal-related issues. This company will gladly accept anyone who wants to deposit some money. Of course, they are more than helpful during the process. However, with unclear withdrawal policies and fees, getting your profits out becomes a mission impossible.  

Customer Support

Considering quite poor support options traders can’t really expect much from this company. With only live chat and e-mail available, it’s clear the company won’t interact with users if they don’t need to. Even though there are no NOOBEX Reddit topics about this firm, Trustpilot is enough to understand you won’t get any assistance from this firm.

Key Information To Consider About NOOBEX?

In the end, it all comes down to a few details. It’s regulation and transparency. When you see those two missing, you can certainly expect issues. Luckily, even with crypto transfers, there are ways to track them down and apply for refunds. For more details and a free consultation, reach out to our experts today.

FAQ Section