NLM 86 Limited says their core virtues are trust, quality and reliabiliy. The company wants to “bridge” the gap between retail and institutional trading where they make the business more inclusive for all. All of these promises are professed on the nlm86limited.com website which ushers us to 5 different account types. The basic account requires 100EUR and it seems that we can only trade Forex pairs on this particular account. Furthermore, NLM 86 Limited declares that the current month is when everybody is purchasing shares and they’re willing to give an “investment bonus” of 50%.

Before you jump into conclusion that NLM 86 Limited is the broker you want, think twice! Our review is driven by curiosity since this broker’s words are tempting and we need to scrutinize them carefully by analyzing the platform and making conclusions based on first-hand experience with this broker.

General information about NLM 86 Limited

Website	https://www.nlm86limited.com/
Company	NLM 86 Limited
Email	support@nlm86limited.net
Phone number	+442080970440
Address	22 Bishopsgate, London EC2N 4BQ, United Kingdom
License	None
Assets	Forex, Commodities, Stocks, Cryptocurrencies CFDs
Trading platform	WebTrader/Mobile Trader

Analysis of NLM 86 Limited official website

It’s a basic website design with no bells and whistles that you’d expect from a broker who wants to exude premium quality kind of service. Their website homepage contains text that invites us to buy shares using investment bonus of 50%. Since NLM 86 Limited is a CFDs broker, this investment bonus of 50% would be a deposit bonus.

Their website also says when we sign up, we will gain access to an extensive range of tradeable instruments. We will be guided by a team of experienced and well-educated people. As we scroll further down the page, we find various plans on offer as well as a news section which doesn’t seem to be updated frequently.

On top of this, we find pages that introduce who NLM 86 Limited is and why we should be trading with them. At some point they claimed that this broker is 5 years old yet we can see very clearly that their website was registered in July 2023. At the time of publishing this review, the NLM 86 Limited website was just 4 months old as opposed to 5 years old.

Finally, all of the pages that we need from this website are present with the exception of the terms and conditions page.

Last but not least, we have noticed on several occassions that the NLM 86 Limited website has trouble staying online. It seems this is a server issue that needs to be addressed quickly. However, at the moment we consider it a red flag since this website is pitching a service that will need people to bank their monies on the platform. If the website is not accessible on a frequent basis, then this becomes a problem to those who have already made a deposit. We don’t expect a broker who is making good promises to stay on a bogus server. But if this is intentional, we’ll soon find out.

NLM 86 Limited Client portal

You obviously need to create an account to get a sneak peak of the client portal. This is a 1 minute procedure since this broker only requires your name, email, address, phone number and and a confirmation of your password.

User experience is well-taken care of. As part of the functionality of this client dashboard, users can edit their profile, deposit or withdraw funds, review monetary statistics and even get a chance to speak with customer support directly from the platform.

NLM 86 Limited has also implemented a KYC requirement procedure. This process can be conducted via the client portal. The documents they require should reveal your identity and physical address. Furthermore, when testing their service, we found out that the broker also requires a picture of your Visa or MasterCard. This is something that we’re skeptical of especially if we’re giving this information to an unlicensed broker where the risk of selling the information is pretty high.

NLM 86 Limited trading platform

Launching the trading software, we get a surprising list of assets to trade. The WebTrader is apparently designed for novice and expert retail traders. But we still think the MT4/5 software is the king since it’s so popular among brokers out here.

NLM 86 Limited offers the WebTrader as their only choice of charting software. It comes with a wide range of analytics tools, candlestick charts with various timeframes and also the ability to open the charts in multiple screens is provided.

Since NLM 86 Limited claims that they welcome mobile users, we found out that their web terminal is also accessible through any mobile browser. This means no apps to download. It could be the only pro that we see with this broker.

Last but not least, this broker offers no demo trading accounts. Brokers who run WebTrader software don’t offer demo accounts by the way. This shows that they don’t have thoughts for beginners who would like to horn their skills before committing funds. This is a serious con and we have knocked one star out of the broker’s initial rating because of this reason.

The account types that nlm86limited.com offers

They are 5 and the basic account type seems to be the most useless account type because it provides two feature only. These features include daily news and access to insights from “financial experts” for 5 days.

Upgrading to higher plans will give you access to the basic features including access to webinars, reduced transaction fees, participation in IPOs, customized trading plans, copy trading, online money management among other things. Anything from 5000 EUR and above will get you an upgrade.

Now the question is….

If you want copy trading, how sure are you of the performance of the traders that you’ll be following?

In our past reviews, we’ve discussed ways that retail brokers deceive those who want copy-trading. We fear that this would be the case here as well since nlm86limited.com has failed to expound on matters copy trading despite this feature being listed in their high plans.

A review of NLM 86 Limited Deposits, withdrawals and fees

The broker accepts card deposits. About withdrawals? We don’t know if there has ever been a successful withdrawal out of this broker’s website. The broker says that they do not charge fees for deposits and withdrawals. They have also refrained from discussing bonus conditions as well as various fees and commissions that may apply during trading activities. This shows lack of transparency on the part of this broker.

Is NLM 86 Limited legit or a scam broker?

We do not feel very confident that this broker will deliver their promises. A website that keeps going offline every 5 minutes is likely to frustrate your trading experience, let alone your withdrawal of profits.

On the regulatory front, NLM 86 Limited passes off as a regulated broker but a quick search on the FCA database can reveal that this broker is just a clone of another UK-regulated broker.

The original and genuine company address is Belmont House 75 Church Street Bentley Doncaster Yorkshire DN5 0BED N 5 0 B E UNITED KINGDOM. However, the address for the clone (the broker that we’re reviewing now) is 22 Bishopsgate, London EC2N 4BQ, United Kingdom.

The email address for the legit NLM 86 Limited company is nat.morris@vaughans.co while the fake company is using support@nlm86limited.net.

It’s therefore obvious that this broker is not licensed and are using the details of another FCA-regulated firm to pretend that they’re the same company that is regulated.

Pros and Cons

Summary of this review

We can’t buy their story and we feel that signing up to trade with this broker is a total waste of your time and money. You’re not ready to deal with a non-compliant website that goes offline every 5 minutes. NLM 86 Limited is insincere when they clone another company in the UK. They cannot be trusted with any money. With all of these red flags, it only make sense to conclude that this broker is a scam.

I would like to hear your opinion on this matter and if you have encountered another rogue broker like this, kindly tell us in the comment section.