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NEW RIVER

United Kingdom|1-2 years|
Suspicious Regulatory License|Suspicious Scope of Business|Suspicious Overrun|High potential risk|

https://newriverco.com/

Website

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Contact

https://newriverco.com/

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

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Broker Information

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Company Name

NEW RIVER DEVELOMENT CO. LIMITED

Company Abbreviation

NEW RIVER

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away! 3
Previous Detection : 2024-02-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The United StatesNFA regulation (license number: 0551774) claimed by this broker is suspected to be clone. Please be aware of the risk!

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NEW RIVER · Company Summary

Note: NEW RIVERs official site - https://newriverco.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

NEW RIVER Review Summary
Founded 1-2 years
Registered Country/Region United Kingdom
Regulation NFA (Suspicious Clone)
Demo Account Unavailable
Leverage N/A
EUR/ USD Spreads N/A
Trading Platforms N/A
Minimum Deposit N/A

What is NEW RIVER?

New River, a broker claiming to operate under the United States NFA regulation, is under suspicion of potentially cloning this regulatory license. As a result, it raises concerns about the validity of its regulatory claims.

Additionally, the official website of New River is inaccessible, further adding to the uncertainty surrounding this broker. Reports have also surfaced regarding difficulties in withdrawing funds from their platform. It is advisable for individuals to exercise caution when engaging with New River until more clarity is obtained regarding its regulatory status and operational practices.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

Pros Cons
• N/A • Website is unavailable
• NFA (Suspicious Clone)
• Reports of scams and unable to withdraw

NEW RIVER Alternative Brokers

There are many alternative brokers to NEW RIVER depending on the specific needs and preferences of the trader. Some popular options include:

  • TD Ameritrade - A well-established brokerage platform with a range of trading tools and resources for investors of all levels.

  • IG - A comprehensive trading platform with a range of trading tools and educational resources for all levels of traders.

  • XM - A flexible trading platform with low spreads and a range of trading instruments.

Is NEW RIVER Safe or Scam?

The United States NFA regulation (license number: 0551774) claimed by this broker is suspected to be clone. NEW RIVER currently has no valid regulation, which means that there is no government or financial authority oversighting their operations.

suspicious clone NFA license

Besides, the official website of NEW RIVER is inaccessible, indicating that the trading platform may have absconded. These make investing with them risky.

If you are considering investing with NEW RIVER, it is important to do your research thoroughly and weigh the potential risks against the potential rewards before making a decision. In general, it is recommended to invest with well-regulated brokers to ensure your funds are protected.

User Exposure on WikiFX

On our website, you can see that reports of unable to withdraw. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

User Exposure on WikiFX

Conclusion

In conclusion, New River, a broker claiming to operate under the United States NFA regulation, is suspected of potentially cloning this regulatory license, raising doubts about its legitimacy.

The inaccessibility of its official website further adds to the concerns surrounding this broker. Reports of difficulties in withdrawing funds also contribute to the overall uncertainty. It is important for individuals to exercise caution when considering any involvement with New River until more information is available about its regulatory status and operational practices.

Frequently Asked Questions (FAQs)

Q 1: Is NEW RIVER regulated?
A 1: No. It has been verified that this broker currently has no valid regulation.
Q 2: Does NEW RIVER offer demo accounts?
A 2: No.
Q 3: Is NEW RIVER a good broker for beginners?
A 3: No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its inaccessible website.

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.

User Reviews

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lyy4319
more than one year
I would strongly caution against investing with New River and recommend exploring alternative brokers with proven regulatory credentials for a safer trading experience. Ensuring the security of your funds should be a top priority in the financial markets.
2023-12-08 10:27
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FX1544317459
more than one year
The inaccessibility of the official website and reports of difficulties in fund withdrawals indicate potential issues with the platform. It is crucial for investors to prioritize safety and choose brokers with valid regulations to protect their funds and investments. Considering the available alternatives with established and well-regulated platforms is a safer approach for traders.
2023-12-07 19:16
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0
0
似水柔情
more than one year
Do not trust this company. First of all, their regulatory licenses are all fake, just fabricated to better defraud customers of their money. Plus, it's less than a year old, so it's still an immature company. Also, its website looks very unprofessional. All in all, investing here will be a decision you will regret.
2023-03-16 13:39
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0
0
月亮邮递员
more than one year
This is Xu Youcheng's swindling gang. They can't make money. They ask you to deposit money for various reasons. Finally, the account is blocked. Everyone pay attention to such scammers. Let's talk about stocks first.
2022-10-13 16:25
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0
0
星星点点30493
more than one year
This is a scammer's platform, everyone should keep their eyes open, they can't let you withdraw money at all
+2
2022-10-13 16:12
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