Nigma Finance Scam Review
You may have heard of Nigma Finance and you might have even been to their website. After spending some five minutes on the page, you might have been impressed by the slick design and the beautiful, even if kind of unrelated, imagery. Though, after taking a closer look, you will have realized that something does not make sense at all. You would not be wrong to assume so. So you have decided to read our Nigma Finance Review and find out what was that strange feeling you were getting. We went through a similar emotional and thought process, wondering why the website gave us a bad feeling, even if it looked pretty good. So we spent some time looking closely at it and realized that the broker is nothing but a scam. Which is why we got that feeling of something being wrong. So, let’s take a closer look.
The Nigma Finance Scam: a well-designed but poorly thought out trap
The design of the website might seem pretty attractive, but to a trained eye, it is nothing but an invitation to realize how dangerous this website is. You see, a person who does not know what to look for, will not be able to identify all of the little details and horrors that are hidden behind this slick design. You see, while there are many scam brokers out there that don’t bother to set up an attractive design for their websites, there are a few that get their homepage right. These are the brokers that you should be most cautious of. These are the guys who know that they need to hide information and do it well, while the scammers with bad designs don’t care and simply fail. The Nigma Finance fraud has a nice design in order to distract you from the contents of the page. The thing is, the page doesn’t contain much in terms of information either, but whatever it contains is just enough to help us understand that the broker is not reliable. So, pay no heed to the design, and let’s jump straight to the information they provide.
When you first arrive on the page, you will notice the company claim that they have been licensed to operate and are regulated by authorities. We are always happy to hear this and are excited to find out in more detail about the licensing. But to find out more, we have to be given the information about at least the licensing body that has provided the broker with the permission to operate. If the company had done this, we would have asked the question “is Nigma Finance legit?” instead of simply assuming it is a scam. Instead, there is no information about the licensing body, the license number or even another mention of the license on the page.
Though this does not stop us from looking at the issue deeper. We decided to instead go ahead an look at some of the possible places that the broker might be licensed to operate with. After checking with a number of licensing authorities (including the British and the European one) our searches came with nothing. It is thus here that we start to assume that the broker is nothing but a scam and that you should stay away. Though, if this is not enough to convince you yet, keep on reading to see what other clues we came up with.
Information about spreads, platforms and more
The lack of a license is a sign that you should run, but another sign that the Nigma Finance FX brokerage is untrustworthy is the fact that they barely provide any information on trading conditions. And by barely, we mean none. There is no information about spreads for all the different currency pairs, there is no list of currency pairs, there are no mentions of leverage and there is no mention of a trading platform. All they have provided for the traders is a list of different types of accounts that they can register. And these seem a little more than laughable:
The Silver account plan, the lowest deposit requirement that they require, demands that the trader be able to deposit ten thousand US dollars onto the account. Not only that, but they also mention how they will be able to receive 40% profits and monthly returns. Is this a guaranteed return? Does this mean that the traders will be receiving the money even if they don’t trade? If that is the case, then we have gotten to the bottom of what kind of scam the Nigma Finance Forex broker is: a Ponzi scheme. The scheme where you will only get returns on your investment from the investments that future clients make. Even if they are not a Ponzi scheme (which they probably are) the 12% commission on all trades you make is an exorbitant amount to charge their clients. Finally, what are this “30 days” they mention at the bottom of each plan type? We have a hard time understanding and we would like to recommend that you stay away from these guys.
Stupid is what stupid does
Beyond these two glaring issues, we have also noticed a couple of things that are simply funny in how stupid they are. Whether it is because of a lack of attention, not knowing how brokerages actually operate, or the fact that they did not care to go beyond just the very surface level, there are numerous mistakes in the design of the website that show it to be not only a scam, but a bad one at that. First, let us start by going to their features page. This is where they would be listing all of the features they have to offer to their clients: the minimum deposits, the Nigma Finance bonus, their platform and tech, their payment systems. Instead, they simply list a couple of things that they have, which every other broker is capable of offering, and leave at that. Terrible design.
Though what we find funniest is the about page that the brokerage has posted. Here they mention their CEO, saying that he owns the company in bad English. Below, they start showcasing members of the team and showing their pictures, forgetting to mention the CEO. Though they do mention the CFO, the COO, and the Senior Trader. We tried googling these guys, but nothing came up on any social media. Though after some image searching, we found out that they are holding the same exact positions at a different brokerage. What could this mean? Definitely not that this website can be trusted to tell the truth. Oh, they also wanted us to know that these are the guys behind the “success of the success” of the Nigma Finance Rating online. Though we can’t seem to find anything about this success.
If you like to lose money and never being able to get in touch with a brokerage after depositing with them, congratulations, you have found the perfect scam for you. If you don’t, and we really hope you don’t like any of that, then stay away from this broker. If you still believe the answer to “can Nigma Finance be trusted?” is yes, then go back and take a closer look at what we just told you. Stay away from this scam and keep your funds safe.