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NEWTOWN

United Kingdom|2-5 years|
Suspicious Regulatory License|cTrader|Suspicious Scope of Business|Suspicious Overrun|High potential risk|

https://www.newtownc.com

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Contact

support@newtownc.com
https://www.newtownc.com
Unit 1804, South Bank Tower, 55 Upper Ground, London England SE1 9EY.

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Broker Information

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Company Name

Newtown Capital Global Limited

Company Abbreviation

NEWTOWN

Platform registered country and region

United Kingdom

Company website

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Warning: Low score, please stay away! 2
Previous Detection : 2024-04-19
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The United StatesNFA regulation (license number: 0552858) claimed by this broker is suspected to be clone. Please be aware of the risk!

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NEWTOWN · Company Summary

NEWTOWN Basic Information
Registered Country/Area United Kingdom
Founded Year 2022
Company Name Newtown Capital Global Limited
Regulation Suspicious Regulatory License
Minimum Deposit $500
Maximum Leverage 1:500
Spreads Variable
Trading Platforms cTrader
Tradable Assets Forex, Stocks, Cryptocurrencies, CFDs
Account Types Not specific
Demo Account No
Islamic Account No
Customer Support Email: support@newtownc.com
Payment Methods Credit/debit cards, bank transfers, e-wallets
Educational Tools Limited

Overview of Newtown

Newtown Capital Global Limited is a forex broker that was founded in 2022 and is based in the United Kingdom. The company is not regulated by any financial authority, and its regulatory license has been deemed suspicious by the Financial Conduct Authority (FCA) in the UK. This means that NEWTOWN is not subject to the FCA's regulatory oversight, which could put your funds at risk.

The minimum deposit to open an account with NEWTOWN is $500, and the maximum leverage is 1:500. The spreads are variable, which means they can change depending on market conditions. The only trading platform offered is cTrader. The tradable assets include forex, stocks, cryptocurrencies, and CFDs. There are no account types or demo accounts offered, and there is no Islamic account available. Customer support is available via email only. The payment methods accepted are credit/debit cards, bank transfers, and e-wallets. There are no educational tools offered.

Overall, NEWTOWN is a relatively new broker that offers a limited number of features and trading platforms. The company is not regulated by any financial authority, and its regulatory license has been deemed suspicious by the FCA. This may be a concern for some traders, so it is important to do your own research before opening an account with NEWTOWN.

In addition to the lack of regulation, there are other reasons to be wary of NEWTOWN. The company's website is poorly designed ( inaccessible now) and contains numerous grammatical errors. The contact information provided on the website is also incomplete, making it difficult to reach customer support.

basic-info

Is NEWTOWN legit or a scam?

NEWTOWN claims to be regulated by the National Futures Association (NFA), a US-based self-regulatory organization for the futures industry. However, the NFA does not list NEWTOWN as a registered member, and the regulatory license number that NEWTOWN claims to have does not exist. This is a clear indication that NEWTOWN is not regulated by any financial authority.

regulation
regulation

The lack of regulation is a major red flag for any forex broker. Regulated brokers are subject to strict rules and regulations that are designed to protect their clients' funds. Unregulated brokers, on the other hand, are not subject to any such rules, which means that there is no guarantee that your funds will be safe if you trade with them.

Pros and Cons

Newtown offers several advantages that may appeal to traders. One notable advantage is the generous leverage of up to 1:500. However, there are several drawbacks to consider. Firstly, Newtown has a high minimum deposit requirement of $500, which may deter traders with limited funds. Additionally, the broker lacks comprehensive educational resources, making it challenging for traders to enhance their knowledge and skills. Customer support options are also limited, which can be frustrating for traders in need of timely assistance.

Pros Cons
Generous leverage up to 1:500 Limited trading instruments
High minimum deposit of $500
Lack of educational resources
Limited customer support options
Reports of withdrawal issues
No demo accounts
No Islamic Account Option
Limited educational resources

Market Intruments

NEWTOWN offers a limited range of market instruments, but they are some of the most popular assets traded in the world. These include:

  • Forex: The forex market is the largest and most liquid financial market in the world, with a daily trading volume of over \$5 trillion. This means that there is always a high volume of buyers and sellers, which makes it easy to enter and exit positions.

  • Stocks: The stock market is a market where shares of companies are bought and sold. This allows investors to own a piece of a company and to participate in its growth.

  • Cryptocurrencies: Cryptocurrencies are a new asset class that has become increasingly popular in recent years. These digital currencies are not issued by any government or central bank, and they are based on blockchain technology.

  • CFDs: CFDs are a type of derivative that allows traders to bet on the price movement of an underlying asset, without actually owning the asset itself. This means that traders can profit from both rising and falling markets.

Account Types

NEWTOWN is a forex broker that does not disclose the types of trading accounts it offers on its website. This is a red flag, as regulated brokers are typically required to disclose this information. Additionally, the website does not provide any information about the broker's regulation or history. This further raises concerns about the legitimacy of the broker.

The minimum deposit requirement of $500 is also quite high. This is higher than the minimum deposit requirements of many other regulated brokers, which may be a barrier to entry for some traders, especially those who are just starting out.

account-types

Here are some additional points to consider:

  • The lack of transparency about the types of trading accounts offered is a red flag. This suggests that the broker may be trying to hide something.

  • The high minimum deposit requirement may be a barrier to entry for some traders.

  • The lack of regulation is a major concern. This means that there is no guarantee that your funds will be safe if you trade with NEWTOWN.

How to open an account?

Here are the steps on how to open an account with NEWTOWN:

  1. Visit the NEWTOWN website and click on the “Open Account” button. This will take you to the online application form.

  2. Fill out the online application form. Be sure to provide accurate information, as this will be used to verify your identity and open your account.

  3. Make a minimum deposit of $500. This can be done via credit/debit card, bank transfer, or e-wallet. The minimum deposit requirement is quite high, so be sure to factor this into your decision before opening an account with NEWTOWN.

  4. Download the NEWTOWN trading platform. This is where you will place your trades. The trading platform is available for Windows, macOS, and Linux.

  5. Start trading! Once you have funded your account and downloaded the trading platform, you can start trading.

Leverage

Leverage is a powerful tool that can be used to magnify your profits. However, it is important to use it with caution, as it can also magnify your losses. NEWTOWN offers a high degree of leverage, up to 1:500. This means that you can control a position worth 500 times your initial deposit. For example, if you deposit $100 and use leverage of 1:500, you will be able to control a position worth $50,000.

It is important to note that leverage can be risky. If the market moves against you, you could lose more money than you deposited. Therefore, it is important to only use leverage that you are comfortable with and to manage your risk carefully.

leverage

Spreads & Commissions (Trading Fees)

Spreads are the difference between the buy and sell price of an asset. Commissions are fees charged by a broker for each trade. NEWTOWN offers variable spreads, which means that the spreads will fluctuate depending on market conditions. The spreads are typically wider for less liquid instruments. The broker also charges a commission of $2 per lot for forex trades.

For example, if you buy 1 lot of EUR/USD, which is worth $100,000, you will pay a spread of 1 pip. This means that you will pay $10 for the trade. The commission for the trade would be $2. Therefore, the total cost of the trade would be $12.

Non-Trading Fees

NEWTOWN charges a number of non-trading fees, including:

  • Inactivity fee: A fee of $10 per month is charged if your account is inactive for more than 12 months.

  • Withdrawal fee: A fee of $25 is charged for each withdrawal.

  • Payment processing fee: A fee of 2% is charged for payments made with credit/debit cards.

The inactivity fee is charged to discourage traders from opening accounts and then not using them. The withdrawal fee is charged to cover the costs of processing withdrawals. The payment processing fee is charged to cover the costs of processing payments with credit/debit cards.

Trading Platform

NEWTOWN offers the cTrader trading platform, which is a popular platform among forex traders. The platform is user-friendly and offers a variety of features, including:

  • Real-time pricing: The platform provides real-time pricing for all major assets.

  • Advanced charting tools: The platform offers a variety of advanced charting tools, including technical indicators and drawing tools.

  • Automated trading: The platform allows traders to automate their trading strategies.

  • Social trading: The platform allows traders to connect with other traders and share ideas.

The cTrader trading platform is a good choice for traders who are looking for a user-friendly platform with a variety of features. However, it is important to note that the platform is not regulated.

trading-platform

Deposit & Withdrawal

Traders can make deposits using credit/debit cards, bank transfers, and e-wallets.

Credit/debit cards are a popular choice for many traders, offering quick and secure deposits. By linking their cards to their NEWTOWN trading accounts, traders can seamlessly fund their accounts and initiate trades without unnecessary delays.

Bank transfers provide an alternative deposit method, allowing traders to transfer funds directly from their bank accounts to their NEWTOWN trading accounts. While this method may take slightly longer to process compared to card deposits, it is a reliable and widely accepted option, especially for larger transactions.

E-wallets, such as PayPal or Skrill, offer another convenient option for depositing and withdrawing funds. Traders can securely link their e-wallet accounts to their NEWTOWN trading accounts, enabling swift and hassle-free transactions.

It is worth noting that while NEWTOWN provides these deposit and withdrawal options, specific details regarding transaction fees, processing times, and minimum/maximum limits may vary. Traders are advised to consult NEWTOWN's official website or contact their customer support for precise and up-to-date information regarding deposit and withdrawal procedures.

Customer Support

NEWTOWN offers customer support via email: support@newtownc.com. The customer support team is available 24/7. However, the response time can be slow, and the support staff is not always knowledgeable.

If you have a question or issue, you can submit a ticket through the broker's website or contact the customer support team via live chat. The customer support team will usually respond to your ticket within 24 hours. However, the response time can be longer if you contact the customer support team during peak hours.

The customer support team is not always knowledgeable. This can be frustrating if you have a complex question or issue. In some cases, you may need to contact the customer support team multiple times before you get a satisfactory answer.

Educational Resources

NEWTOWN offers a limited number of educational resources, including:

  • A beginner's guide to forex trading: This guide provides an overview of forex trading, including the basics of currency pairs, leverage, and risk management.

  • A list of trading strategies: This list provides a brief overview of some popular trading strategies.

  • A video tutorial on how to use the cTrader trading platform: This tutorial provides instructions on how to use the cTrader trading platform.

The educational resources are not very comprehensive. The beginner's guide is relatively short and does not cover all aspects of forex trading. The list of trading strategies is also short and does not provide much detail. The video tutorial is helpful, but it is not very in-depth.

Is NEWTOWN suitable for beginners?

NEWTOWN is not suitable for beginners. Here are some reasons why:

Firstly, the minimum deposit requirement of $500 may be prohibitive for beginners, as it demands a substantial initial investment. Additionally, the educational resources offered by NEWTON are limited, prompting traders to seek supplementary materials elsewhere. Customer support is also lacking, with slow response times and limited expertise. Lastly, the absence of regulation raises concerns about fund security. Traders should weigh these factors carefully before deciding to trade with NEWTON.

Is NEWTOWN suitable for experienced traders?

NEWTOWN is not suitable for experienced traders. Firstly, the fees charged by NEWTON, particularly for withdrawals, are relatively high and can significantly impact profits. Additionally, the cTrader trading platform provided by the broker may not be as user-friendly as other platforms preferred by experienced traders. Lastly, it's important to note that NEWTON lacks regulation from any financial authority, which raises concerns about the safety of funds. Traders should carefully evaluate these factors before choosing to engage with NEWTON.

Conclusion

In conclusion, NEWTOWN falls short in providing a favorable trading experience for traders. The broker's lack of regulation, high fees, limited educational resources, and user-unfriendly platform contribute to its overall unappealing value proposition.

The absence of regulatory oversight raises concerns about the safety and security of funds entrusted to NEWTOWN. High fees, particularly for withdrawals, can significantly impact traders' profitability, even for those who have achieved success. Moreover, the limited availability of educational resources hinders traders' ability to acquire the necessary knowledge and skills to trade effectively.

Furthermore, the platform's lack of user-friendliness poses challenges for experienced traders who are accustomed to more intuitive and efficient platforms. Navigating the platform and executing trades may become cumbersome and less efficient, hampering overall trading performance.

Considering these drawbacks, it is advisable for traders, regardless of their experience level, to explore alternative options offered by regulated and reputable brokers. Such brokers typically provide a more secure trading environment, competitive fees, extensive educational resources, and user-friendly platforms.

FAQs

Q: Is NEWTOWN regulated?

A: No, NEWTOWN is not regulated by any financial authority.

Q: What are the fees charged by NEWTOWN?

A: The fees charged by NEWTOWN are high, especially for withdrawals. The withdrawal fee is \$25 per withdrawal. There is also a commission of $2 per lot for forex trades.

Q: What is the minimum deposit requirement for NEWTOWN?

A: The minimum deposit requirement for NEWTOWN is $500.

Q: What are the educational resources offered by NEWTOWN?

A: The educational resources offered by NEWTOWN are limited. There is a beginner's guide to forex trading and a list of trading strategies. However, the educational resources are not very comprehensive.

Q: What is the platform offered by NEWTOWN?

A: The platform offered by NEWTOWN is the cTrader trading platform. The cTrader trading platform is a popular platform among forex traders, but it is not very user-friendly for experienced traders.

Q: Would you recommend NEWTOWN to other traders?

A: No, I would not recommend NEWTOWN to other traders. There are many better options available from regulated and reputable brokers.

User Reviews

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Diep.Bui
more than one year
Reports of withdrawal issues from other traders are troubling, and the limited customer support options make it challenging to seek timely assistance. Considering the risks associated with an unregulated broker, it's crucial to explore regulated alternatives for a safer trading experience.
2023-12-08 10:33
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Arsyakha Yusuf Al Hakim
more than one year
The minimum deposit requirement of $500 is relatively high, and the broker lacks transparency regarding account types and demo accounts. The poorly designed and currently inaccessible website, along with grammatical errors, raises doubts about the professionalism of the platform.
2023-12-07 19:21
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0
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Adam785611
more than one year
NEWTOWN has got me shaking my head in disbelief, I kid you not. They've been blowing up my phone, claiming they've got the ultimate trading platform with ridiculously tight spreads and zero slippage. Can you believe that? They must think we're all born yesterday! They're treating us like total suckers, trying to reel us in with their sweet talk. Well, let me tell you, I've lost all interest in their smooth-talking nonsense.
2023-07-06 11:13
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Daniel****
more than one year
I've got some serious dirt on NEWTOWN, the so-called trading broker. Let me tell you, their reputation is tainted with negative reviews. Don't let them fool you with their promises of high leverage, low spreads, and a silky-smooth trading platform. It's all a sham, I tell you! My advice? Don't even think about trading with this sketchy bunch. Do yourself a favor and do some digging before you get tangled up with them. Check those reviews, my friends, and save yourself the headache!
2023-07-06 11:11
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