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Newerahost is a broker claiming to offer high-quality trading services worldwide. However, after conducting a thorough investigation of their operations, it is clear that Newerahost is a scam broker out to steal from unsuspecting traders. This review will highlight why you should avoid this broker at all costs.
One of the most significant red flags with Newerahost is that they are not licensed. We first tried to get the license information from their website. But there was no information found. Then we tried to search with the major financial regulatory websites such as FCA, FMA, CySEC, etc, but these websites also had no information about this broker. Clearly, this broker has no license or regulation to convey financial activities.
When you choose to trade with an unlicensed broker, you expose yourself to many risks. Firstly, unlicensed brokers are not bound by any rules or regulations so they can manipulate the market to their advantage. Secondly, since they are not regulated, they are not required to keep client funds in segregated accounts, which means they can use your money as they, please.
In short, no. Newerahost has been linked to several fraudulent activities, including manipulating prices and withholding funds. Many traders have reported losing their entire investment to this broker, and there is little to no chance of recovering these funds.
A quick search online reveals that Newerahost has a terrible reputation among traders. Many traders have reported being scammed by this broker, and there are countless negative reviews detailing their experiences with this fraudulent company.
If you have been scammed by Newerahost, submit your complaint through our form. We can provide you with a free consultation, and legal helps if needed and hold these unscrupulous companies accountable for their actions.