Financial Fraud Lawyer is a Network of Law Firms specializing in online Forex and Crypto trading and dispute resolution. Our Financial Lawyers represent victims of Forex scams to recover their lost funds.
The purpose of the article NessFx Review is to summarize the current status of the financial platform NessFx. Financial Fraud Lawyer aims to propose an understanding of NessFx by discussing the findings presented in NessFx Review. Our researches are based on public sources, such as NessFx website (license regulation terms), and the Cyprus Securities and Exchange Commission’s (CySEC) information.
Is NessFx a legitimate Forex Broker?
NessFx platform is an online CFD trading service. The NessFx brand is one of Fxnet Ltd
trademarks, licensed and controlled by CySEC :
• NessFx Licence Number: 182/12
• NessFx Licence Date: 01/11/2012
• NessFx Company Registration Number: 300624
According to its registration with the CySEC in Cyprus, NessFx is allowed to provide financial services across Europe.
Based on CySEC’s information shared in NessFx Review, it appears that the only NessFx website approved by the CySEC is www.nessfx.com.
On 10 September 2020, NessFx Review shows that the broker claims that 73% of their CFD accounts lose money in their trading platform.
NessFx is registered in Cyprus, Europe, under the CySEC.
NessFx‘s office is located at Theklas Lysioti, 4 Harmony House, 3rd floor, Office 31, 3030, Limassol, Cyprus.
NessFx Liquidity Provider – SWISSQUOTE and VELOCITY
NessFx Review: Warning.
NessFx has a geographic restriction. NessFX cannot provide trading or any other services to residents of the following countries and regions: Belgium, Turkey, Russia, Japan, Canada, British Columbia, Quebec, Saskatchewan, and the United States of America.
NessFx Review: LiquidityProvider – Execution Venues
We noted from NessFx Review | Order execution Policy that Swissquote and Velocity are Execution Venues of the financial platform NessFx.
“Execution Venues are the entities with which the orders are placed or to which the Company transmits orders for execution. For the purposes of orders in the various financial instruments offered, the Company acts as a principal; The transactions entered by the Client in financial instruments with the Firm are not undertaken on a recognized exchange or an MTF (Multilateral Trading Facility), rather they are undertaken over the counter (OTC) through the Company’s Trading Platform and, accordingly, they may expose the Client to greater risks than regulated exchange transactions.
Depending on the type of account you have with the Company, either the Company or a third-party liquidity provider will be the Execution Venue for the execution of Client Orders (as defined in Commission Directive 2006/73/EC implementing MiFID).
1 SWISSQUOTE – Bank – FX, Equity Indices, Commodities
2. VELOCITY – Prime Broker – FX, Equity Indices, Commodities, Bonds”
NessFx Review – Forex Peace Army Thread
Forex Peace Army website exposes different NessFx reviews of traders. The NessFx reviews section of the Forex Peace Army website presents ratings for all the different types of services offered by NessFx.
NessFx Review: “Scam. Nothing but trouble. They keep on harassing you. I stopt in time so I didn’t lose any money but keep in calling me. They are like a mosquito. Don’t ever sign up with these scammers !!!’’
This NessFx review was posted by the user Mister B, from Holland on February 13, 2020 on Forex Peace Army website.
We shall mark that it is not possible to know the exact accuracy of the NessFx reviews used in this article. However, as they are provided by traders, these NessFx reviews share experiences and express different opinions on NessFx.
NessFx Review: What are NessFx Obligations?
NessFx compliance to Financial Securities Directive-MiFID
NessFx Review reveals that the broker claims on its home page to be transparent and reliable (as per NessFx Review | Risk Warning – screen capture). MiFID II provides a harmonized regulatory environment for trading across the European Economic Area (EEA).
The Investments in Financial Securities Directive-MiFID-requires NessFx to obey three guiding laws in the provision of investment services. NessFX Review sums up these guiding law as follow:
• To behave in a truthful, equitable and competent manner, representing the best interests of traders;
• To have appropriate, full, accurate and precise information;
• To analyze the investor’s particular condition (e.g., expectations, circumstances, and experience of selling financial products).
Sources used In Nessfx Review by Financial Fraud Lawyer:
NessFx review source 1 – Cyprus Securities and Exchange Commission – CySEC Investment firms information: https://www.cysec.gov.cy/en-GB/entities/investment-firms/cypriot/37671, September 3, 2020
NessFx review source 3 – Forex Peace Army – NessFx review source 4 Review section https://www.forexpeacearmy.com/search?q= NessFx, September 3, 2020
NessFx review source 4 – DIRECTIVE 2014/65/EU OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL – MiFID – https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex%3A32014L0065 , September 3, 2020
NessFx review source 5, – Forex broker reviews By Law Firm Mikov & Attorneys Financial Fraud Lawyer, https://www.financial-fraud.lawyer/2020/07/17/forex-broker-reviews-by-law-firm-mikov-attorneys/, September 3, 2020
NessFx review source 6, – Fraud lawyers expert in Forex and Cryptocurrency recovery
Trust our experience, https://www.financial-fraud.lawyer , September 3, 2020
NessFx review source 7, – European network of Forex Law Firms, Law Firm expert in Forex– why should you choose one?, https://www.financial-fraud.lawyer/the-law-firm-mikov-attorneys/ September 3, 2020
NessFx review source 8, – Lost funds in a Forex broker’s platform? Recover your lost funds, https://www.financial-fraud.lawyer/2020/07/09/lost-funds-in-a-forex-broker-recover-your-lost-funds/ September 3, 2020
Law Firm Mikov & Attorneys and the author of this NessFx review are regularly engaged in the collection and dissemination of information to the public. This NessFx review aims to share experience, warn the interested parties. NessFx review was written in good faith, based on public information and testimonies of traders, dating from September 2020.