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Dominic|2-5 years|
Suspicious Regulatory License|MT4/5 White Label|Regional Brokers|High potential risk|


Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

Server Name
WarpEnterprise-Demo1 MT4
Server Location Germany


+34 910039618
8 Copthall, Roseau Valley, 00152 Commonwealth of Dominica


No valid regulatory information, please be aware of the risk!

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

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Contact number


+34 910039618

Broker Information


Company Name

Donnybrook Consulting Ltd.

Company Abbreviation


Platform registered country and region


Company website

Pyramid scheme complaint


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Warning: Low score, please stay away!
Previous Detection : 2023-11-30
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

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NeoTrade · Company Summary

Note: NeoTrade is to operate via the website -, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

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 contained in this article is for general information purposes only.

General Information & Regulation

Feature Detail
Regulation No Regulation
Market Instrument forex | commodities | indices | stocks | metals | energies
Account Type Starting | Standard | Trader | VIP
Demo Account N/A
Maximum Leverage Starting: 1:20 | Standard: 1:50 | Trader & VIP: 1:100
Spread Starting: from 0.4 pips | Standard: from 0.3 pips | Trader: from 0.2 pips | VIP: from 0.1 pips
Commission N/A
Trading Platform MT4
Minimum Deposit $250
Deposit & Withdrawal Method VISA | MasterCard | Piastirx | wire transfer

NeoTrade, a trading name of Donnybrook Consulting Ltd., is allegedly a forex broker registered in Dominic that claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:100 and floating spreads from 0.1 pips on the MT4 trading platform via four different live account types.

As for regulation, it has been verified that NeoTrade currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.34/10. Please be aware of the risk.

General Information & Regulation

Market Instruments

NeoTrade advertises that it is an online trading platform provider offering trade in forex, commodities, indices, stocks, metals and energies.

Account Types

NeoTrade claims to offer four types of trading accounts - Starting, Standard, Trader and VIP, with minimum initial deposit requirements of $250, $2,500, $5,500 and $20,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.

Account Types


The specified leverage for different account types at NeoTrade varies between 1:20 and 1:100. Leverage is adjusted based on balance and certain assets. Clients on the Starting account have a leverage of 1:20, the Standard account can experience a higher leverage of 1:50, while only the Trader and VIP accounts can enjoy the highest leverage ratio of 1:100. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.


All spreads with NeoTrade are a floating type and scaled with the accounts offered. Specifically, the spread starts from 0.4 pips on the Starting account, from 0.3 pips on the Standard account, from 0.2 pips on the Trader account and 0.1 pips on the VIP account.

Trading Platform Available

The platform available for trading at NeoTrade is one of the most notable and preferred trading platforms the market offers - MetaTrader4. This trading terminal is highly praised by traders and brokers alike due to its ease of use and great functionality. The MT4 offers top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.

Trading Platform Available

Deposit & Withdrawal

NeoTrade says to work with numerous means of deposit and withdrawal choices, consisting of VISA, MasterCard, Piastirx and wire transfer.

The minimum initial deposit requirement is said to be $250.

Funds deposited via bank/wire transfer will take up to 5 business days to appear in the clients account. Withdrawal requests may take even longer to get processed – from 4 to 7 business days.

Bonuses & Fees

NeoTrade claims to offer some bonuses, which differ depending on the account type. For example, the bonus is up to 25% on the Starting account, 50% on the Standard account, 75% on the Trader account and 100% on the VIP account. In any case, you should be very cautious if you receive a bonus. Bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Note that brokers are prohibited from using bonuses and promotions by all leading regulators.

Also, the broker charges a dormant fee - accounts that have not been used for 6 months are considered dormant and a fee of 10% is charged each month.

Customer Support

NeoTrades customer support can be reached by telephone: +34 910039618, email: Company address: 8 Copthall, Roseau Valley, 00152 Commonwealth of Dominica.

Pros & Cons

Pros Cons
• Flexible leverage up to 1:100 • No regulation
• Variable spreads from 0.1 pips • Website inaccessible
• MT4 supported • High minimum initial deposit required

Frequently Asked Questions (FAQs)

Q 1: Is NeoTrade regulated?
A 1: No. It has been verified that NeoTrade currently has no valid regulation.
Q 2: Does NeoTrade offer the industry-standard MT4 & MT5?
A 2: Yes. NeoTrade offers the MT4.
Q 3: What is the minimum deposit for NeoTrade
A 3: The minimum initial deposit to open an account is $250, while $250 on the Starting account, $2,500 on the Standard account, $5,500 on the Trader account and $20,000 on the VIP account.
Q 4: Does NeoTrade charge a fee?
A 4: Yes. Like every forex broker, NeoTrade charges a spread fee. While the information on other fees like commissions, deposit & withdrawal processing fees are missing.
Q 5: Is NeoTrade a good broker for beginners?
A 5: No. NeoTrade is not a good choice for beginners. Although it offers the leading MT4 trading platform, it lacks legitimate regulation and its minimum initial deposit is too high.

User Reviews

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Nguyễn Như Hồng
more than one year
This is a very elaborate scam, they will entice you in with months of chat and false promises, you invest and watch your account soaring daily, then all of a sudden when your money runs dry and you have no more to give, everything changes, you are no longer treated to several calls per week with updates.
2023-03-17 10:42
more than one year
NeoTrade is a total scam company, it scammed me out of almost 5 thousand dollars and now ignores all my messages! I've called the police but they say it will be very difficult to recover the money.
2023-02-23 11:50
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