October 12, 2020

NeoChain Review

NeoChain Review by Forexscams

Overview

NeoChain is a brokerage company that is disputed. Several articles and reviews on the internet talk about the trickery of the Neo chain. It is asserted that it’s not a regulated and authentic platform to trade. There is less or no accountability from their side. If you search NeoChain, you possibly won’t find an authentic website. The arguments are that it’s not trustable and many have lost their money via the Neo chain. To reassert, their website uses – Automated Trading Software. While using this system new traders often get trapped as they find it easy and less brain work which is fatal for trading.¬†Read the full NeoChain review here.

NeoChain Review

According to the Financial Conduct Authority (FCA), the UK based authority confirmed that Neo-chain has been providing financial services or products in the UK without their authorization. That is an indication of scammers. Whenever a forex broker conducts finance-related services like trading and investment which involves the transfer of money then such brokerages have to be authorized by FCA. 

However, the Neo chain is not authorized under FCA. That explains it is scamming the traders. They issued a warning against NeoChain to make the users aware of the potential scams that must be carried on by the Neo chain. Their website is not even reachable. It is advised by FCA to check if a company is a registered financial service organization or not. If not then you should probably avoid investing in them at all costs. 

The neo chain claims to be a registered firm when it is not. Thus, it is very important to cross-check the credentials which they claim. If you neglect to cross-check and impulsively invest just by getting attracted to glittery promises of unrealistic returns, you probably lose your hard-earned money. There is no accountability taken by any authority if invested in such an unauthorized firm without cross verifying. 

Is Neo chain a scam or legit broker?

Neo Chain is one of the unauthorized firms which makes it Non- trustable. There are many personal as well as collective reviews on Neo chain that confirm they have already scammed them. Their website is down, No follow-ups, No reverting. They got people to invest through their firm and now there is no clue where they are. They have also tried to change their names from Neo-chain to coin-chain to coin trades. 

Therefore, the Neo chain is a scam because the probability of it being a legit broker is negligible as it is not even registered.