Beware that Nozax.com is an offshore broker offering CFDs for trading.

Majority of traders lose money from CFDs trading because these assets lack transparency and most of the time brokers will manipulate the trading environment in their favor.

The website Nozax.com first appeared online in 2002. It did not exist as a broker until much later in 2022 when the new owners acquired the domain.

The new owners of Nozax have found a way to full their clients that this brokerage has a track record dating back to 2002.

The regulatory information of this broker does not inspire trust either as they claim to be regulated in Montenegro.

This is a peculiar destination for brokers as majority of the reputable companies we review mostly come from countries like the US, Canada, Australia and UK.

Today we give you reasons why we don’t believe that Nozax.com is a trustworthy broker. And if you have other reasons, you should add them in the comment section of this review.

5 reasons we don’t trust Nozax.com

When we investigated this broker, we didn’t find anything special with their platform. They’re offering the usual CFDs assets on the MetaQuotes trading platform and nothing else.

So here are our reasons for not liking or recommending Nozax.com.

1)No strong regulatory backup for this broker

The broker is allegedly regulated by the Montenegrin Capital Market Authority.

The truth is that not all financial regulators are working in the same way that aggressive ones do their job. Since when did you hear that Montenegrin Capital Market Authority is enforcing its laws on errant brokers?

If you want a properly licensed broker, look for brokers who are regulated by the FINRA or SEC in the US or those under FCA in UK and ASIC in Australia.

Montenegrin Capital Market Authority appears to be one of those toothless dogs. Even if you have an issue with Nozax, chances are that you will lose your money and nothing will be done.

2)Nozax.com is not among popular brokers

Popular CFDs brokers are known because each time you surf the web, you will most likely come across them.

Nozax is not one of those brokers that traders trust. They are like Xcgin which are implying that they are popular but in the real sense clients shun them.

You need to go where others are currently trading, and this list may be of great help.

3)Nozax is a regular CFDs broker

These are bucket shops. Their business is to trade against your positions in order to make profits. They give you an unfair advantage.

This is why CFDs brokerage business is popular. The business is profitable because brokers can still get a license and promote their business to poor clients who may not understand that CFDs brokers trade against their clients to make profit.

They never route your orders to the regulated exchanges. This means conflict of interest is bound to arise and you are bound to lose your money in the process.

4)Misleading promotion

NOZAX AD is the name of the company that runs this brokerage. The website says that the the entity is a publicly traded company.

This is supposed to be their only claim to fame. In the real sense, this has nothing to do with your ability to trade and make profits on the platform.

Since this is a typical CFDs broker, they’ll still do their thing and continue to sell shares.

We are yet to find a trader who is successful on this platform. We’re 100% sure that there is none.

5)Insufficient feedback to verify the claims of this broker

Nozax currently lacks reviews from real clients who can verify that indeed the promotion material on their website is real.

This broker praises its own services but has no backing from real clients.

We need their clients to do the confession instead of the broker speaking for himself.

We noted that they’re trying to hard to look trustworthy but this is something they can’t achieve so easily unless they have real clients who can confirm that indeed this broker is good.

Conclusion of the Nozax review

We can’t recommend this broker under any circumstances.

We have not seen any ratings from their customers to prove that this broker actually implements their promises.

Furthermore, this remains to be a CFDs broker and so ways of cheating to make you lose your deposit are one too many.

We’re eager to hear what you’ll say in the comment section as we don’t trust this broker at all.