Important Facts
- Regulation: Appears to not be regulated by any particular financial regulatory authority. It has listed a Belize International Business Companies Act registration listed on its website under the name Neto Trade Global Investment Ltd. Belize is a well known offshore entity, this means I believe NetoTrade is a unregulated entity. However there is also a British entity named Neto Trade UK Ltd. which seems to be a subsidiarity of the offshore holding. Such a company structure is slightly dubious.
- Instruments: There are 49 different Forex currency pairs on offer at NetoTrade however there appears to be no other instruments available to trade at NetoTrade and I have been unable to find a list of instruments at their site.
- Features: Nothing unique or interesting, though traders can open a demo account
- Leverage: Up to 1:400
- Minimum Deposit: $100
The Platform
NetoTrade offers the MetaTrader 4 platform and as you would expect this version of the platform doesn’t really differ from many of the other platforms. It also appears the NetoTrade version of MetaTrade does support Expert Advisors, but there is no information about whether NetoTrade allow you to use scalping expert advising and I’m guessing that the answer is probably no. There is also the option to use the NetoTrade web trader and the NetoTrade mobile trader, which are both perfectly functional even if the not offer brilliant functionality. It looks like the web trader may be powered by the Srix platform but I’m not 100% sure and the mobile platform is written HTML 5 and is similar to a number of other web platforms available at the moment.
Special Features
There is nothing remarkable or unique about the NetoTrade offering so this section is going to be very short.
Spreads
I was unable to find any listing of spreads fixed or floating, so again it is pretty hard to remark on what kind of Spreads are offered at NetoTrade. Not having spreads listed on your website is very bizarre the majority of brokerages have their spreads listed very clearly allowing you to compare them against other brokerages, however this is not the case at NetoTrade. Seems a bit fishy and odd. I have no intention of placing $100 with them just to discover the spreads on offer.
Customer Service
NetoTrade has a UK phone and fax line listed on their website as well as the address of Neto Trade UK Ltd. According to Companies in the UK 726 different companies are registered to 788-790 Finchley Road strongly suggesting that this is merely a forwarding address. This strongly suggests that those running NetoTrade are keen to hide their location, this may be either due to the fact they are not operating in this country or do not want people turning up to there offices. This may be the case considering their website seems to link to two different countries both Neto Trade Global Investment Ltd. of Belize and Neto Trade UK Ltd. There have been a number of different individuals complaining about the services at Neto Trade and some have even accused NetoTrade customer services having been rude to them. Establishing whether these accusations are correct is difficult however, but such accusations are concerning.
Regulation
NetoTrade UK Ltd. which appears to be the company which operates NetoTrade appears to be totally unregulated it’s company house registration lists as a company providing, Other Business Support Service Activities. This may mean that NetoTrade UK is just the service company for it’s Belize registered parent company, the problem with this is that CFD’s aren’t financial regulated instruments to the best of my knowledge meaning that NetoTrade is an unregulated entity. NetoTrade’s UK Ltd. only listed director has been a director of 42 different companies with many of these companies appearing to be of a financial nature. While some are in various technology niches including one company which appears to produce adult mobile apps. It could even be the case that this director is just a face for NetoTrade UK and the other companies linked to him, with a company called Centrum Secretaries being the Secretary of NetoTrade UK which appears to be a company that provides secretary services to a number of different companies. The company structure again is highly nontransparent making it seem quite likely that NetoTrade is an unregulated entity.
Overall, I would suggest that people are very careful when doing business with NetoTrade and it’s associated companies.
