Nordic CT Review 2024 – Scammer Targets Swedish Traders

Looking at Nordic CT’s website, one would get the impression that it is a legitimate brokerage business with a reputable name and lucrative trading conditions. However, the truth is different. 

This platform was created relatively recently and is not regulated at all. There is plenty of evidence to support that claim. Bear with us as we expose this scammer in our Nordic CT Review and find out how you can recover your funds from cyber fraudsters.

Legal Info: Is Nordic CT Regulated?

The Nordic CT broker is allegedly the trading brand of the famous HSBC UK Bank, regulated by the Financial Conduct Authority (FCA). Yet, there is Nordic CT in the FCA’s register, as you can see here.

So the business was not founded by the aforementioned bank. There is also no legal documentation on the bogus website, which raises concerns. For those reasons, we strongly advise you to avoid this platform at all costs! It is a sham like Profit Edge. 

Instead of trusting unlicensed imposters, you should stick to regulated providers supervised by recognized financial authorities such as the FCA (UK), ESMA (Europe), CFTC & NFA (US), ASIC (Australia), IIROC (Canada), JFSA (Japan), MAS (Singapore), etc.

Who Are Nordic CT’s Targets?

According to godaddy.com/whois, the nordic-ct.com website domain was created on September 8, 2023. Since then, the con artist has been targeting mainly unwary traders and investors who reside in the following countries:

• United States;
• Netherlands;
• Sweden;
• Lithuania;
• Spain.

All of these countries are known for having tight regulations and strict rules. Their respective financial watchdogs meticulously oversee the markets to prevent unauthorized phonies from running their schemes. 

As mentioned, Nordic CT has no license. The broker directly violates European and American regulations by offering users leverage higher than allowed for retail clients. 

Trader Reviews – Sharing Experiences

We found 18 Nordic CT reviews on trustpilot.com, 17 of which were in Swedish. The majority of the reviews were positive and we found that suspicious. The last couple of comments were negative though.

There are more complaints on scamcheck24.com. This feedback seems more genuine so we suggest you read all of it to get a clear picture of how the platform works. Withdrawal issues seem to be a recurring theme in the comments. Keep in mind that it’s illegal for a broker to demand an upfront fee before fulfilling withdrawal requests.

The financial swindlers behind the scam are looking for potential victims on various channels and platforms. We thus recommend you always read what users say about a certain provider to learn which methods the tricksters use to fool traders.

Which Trading Platform Is Available?

Nordic CT’s trading platform is a relatively basic online terminal designed for trading various instruments like Forex currency pairs, indices, commodities, stocks, and cryptocurrencies.

Upon analyzing the platform’s specifications, it appears to be lacking in sophistication, providing only basic charts and graphs with a limited set of tools. Due to the broker’s questionable background, we suspect that the WebTrader might be rigged.

For a more comprehensive trading experience, we recommend you choose a licensed provider that supports well-established third-party software such as MetaTrader 4, MetaTrader 5, or cTrader. 

MT platforms are widely regarded as among the best in the industry, offering advanced tools like automated and algorithmic trading, sophisticated charting, real-time market reports, API integration, support for 20+ timeframes, Expert Advisors (EAs), and fast order execution.

Nordic CT account types

Leverage, Spreads, Commissions, Demo Account

The maximum leverage that Nordic CT offers is capped at 1:600, which, as mentioned, violates regulations worldwide. It is extraordinarily higher than the legal limit for retail clients in Europe (1:30) and North America (1:50). 

It’s important to note that high leverage acts as a double-edged sword in trading. While it has the potential to magnify profits, it also carries the risk of significant losses. Spreads and commissions were not disclosed. 

A notable concern is the lack of a demo account, which serves as a significant red flag. For beginners, practicing with virtual funds is crucial before jumping into real trading. Licensed brokers always provide free demo accounts, so it’s essential to select a platform that offers this important feature.

Deposit and Withdrawal Process

The website listed several payment methods that can be used to fund live trading accounts and withdraw generated profits:

• Credit/debit cards;
• Wire transfers;
• E-wallets.

There is a discrepancy regarding the Nordic CT minimum deposit; the lowest account tier costs 10,000 EUR but the FAQ section says the requirement is 250 USD.

Given the platform’s dubious background, you’re unlikely to receive customer support in case of withdrawal issues. It happened to those who trusted Immediate Matrix. 

If you deposited funds via MasterCard or VISA credit/debit cards, you can request a chargeback at the issuing bank within 540 days and reverse the transaction. Wires can be reversed via a recall but this action can only work for transactions yet to be completed.

Key Facts To Consider About Nordic CT

We are wrapping up our review and so far have revealed that Nordic CT primarily targets users from the US, Netherlands, Sweden, Spain, and Lithuania. The fake broker is not compliant with regulatory standards and rules, meaning the platform is dangerous.

The platform is unregulated and therefore, we do not recommend it. In case you’ve lost money to the Nordic CT scam, you must seek our professional help to recover your funds!

Use the form below to book your free consultation with Scam Brokers Reviews and tell us more about your case. Our team will gladly guide you through the fund recovery process and assist you every step of the way.

Book your free consultation here and start the chargeback process.

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