NetoTrade.com Review

Scam!
2.006 · 47 REVIEWS
Updated: Sep 12, 2021 · Visit site  · Is this your company?

NetoTrade is a forex broker. Neto Trade offers the MT4 and WebTrader forex trading top platform. NetoTrade.com offers over 40 forex currency pairs, stocks, gold, silver and oil for your personal investment and trading options.

NetoTrade.com
December 16, 2013:The French AMF has issued a warning about unauthorized forex brokers. NetoTrade.com is on that list. CLICK HERE to verify.

January 20, 2014 SCAM ALERT

There are 3 FPA Traders Court Guilty Verdicts against NetoTrade.  The FPA now considers NetoTrade to be a Scam broker.

The FPA advises AGAINST opening an account with NetoTrade.  If you have an account with NetoTrade (شركة نيتوتريد), the FPA recomments that you try to withdraw all of your funds immediately.

SCAM ALERT

The FPA asks that NetoTrade's employees in Cyprus and Israel stop trying to post reviews while pretending to be customers.

Website is in Arabic.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 400:1
Minimum to Open Live: $500
Established: 2013
Address: Unknown
Contact: support@netotrade.com, + 44-2080893679
Regional offices:
Regulators:
Prohibited countries: Unknown
Trading platforms: MT4, WebTrader
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (45+)
Cryptocurrencies:
CFD: (50+) Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
Scalping: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, CASHU
Withdrawal Methods: Bank Wire, VISA, MasterCard, CASHU

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Scam!
2.006 · 47 REVIEWS
Forex Peace Army
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Traders Reviews

TEO,
Singapore, Singapore,
Sep 15, 2020,
Guest

Is it a scam call?

Service use: Other

Just received a call from NetoTrade from a rep call Victor. They said they have to closed their trading department and they have to refund my money that I have in my trading account with them but I am not trading with them.

They said I have $22k and they want me to share my computer screen with them to verify my KYC detail. No legitimate broker ever do that. That should prove that they are trying either trying to hack my computer by tempting me with the fund which I never deposited.

I'm writing this just in case anyone from NetoTrade call, please be careful and beware that it might be a scam.
 
Forex Peace Army
Review moderation team note
Thanks for sharing the warning.  Giving someone else access to your computer can allow them to install malware which gives them access at any time.  This would let the steal passwords and other private data.
Had,
UAE, United Arab Emirates,
Jul 7, 2019,
Guest

They toke my money and they stopped responding to my calls and emails

Service use: Live

Length of use: 0-3 Months

Don’t believe them they cheated me and i lost my money with them don’t trade with them don’t believe them
 
Oman, Sohar, Oman,
Feb 19, 2019,
Registered user

please help me with this case

Hi
Dear all I will till you my story I have received a call from this company Netotrade frist call come from UAE they say will opening an account for me with them and they keep a manager who will help me in my acc and teach me who to sell and buy they till my I should deposit at list 500$ for opening the acc then my account manager say that not enough for as to make brofit so he ask my to deposit money and I do I deposit another 500$ than he told my there is a big chance to win a lot of money because the oil will increase so he ask me to deposit money and there is 100% brofit so I deposit 3200$ than a deposit another 2500$ and when the brofit come almost 32800$ I ask to withdraw some money but they not accept they say I should deposit another amount to transfer the amount to my account or I will lose all my money . I don't know what should I do to make them return at lest my money I am a house wife and I give them all my money can any one help my what should I do please I bagging you
 
Forex Peace Army
Review moderation team note
To get advice, please open a thread in the Scam Alerts folder.
dubai, United Arab Emirates,
Mar 21, 2018,
Registered user

i feel i scamed by them

i had a bad experience w them. it was in 2015 when some lady called me and convince me to trade w them the minimum amount investing was 500$
I had a mentor and i managed to raise this amount to 1000$ then somebody called me and asked me to raise my investment to 2000 or more because there was a news he knows about it and it could make me a fortune
and when i refused to do that, thing got changed and i lost trade after trade . m not sure what they did to my account but any trade i was taking, was loss
eventually i got a margin call and because i didn't trust them any more i didn't add any fund to my account and its blow out
 
Sibusiso,
Durban, South Africa,
Nov 13, 2017,
Guest

Netotrade is not a scammer

Netotrade is not a scame site. I cannot relate to some of the bad and terrible things which have been stated against Netotrade. As regards to the account I had with Netotrade all was well and even when for a meanwhile I suspended my account I was able to make withdrawal of monies from my account. The only thing I could relate to is the delay of couple of weeks it took Netotrade to finalise my withdrawal request. If they can improve in finalising withdrawal request promptly all other allegation levelled against them could be proved wrong. Absolutely, Netotrade is not a scam.
 
Forex Peace Army
Review moderation team note
If NetoTrade wants to prove it is not a scam, they should resolve the complaints that led to them being labelled as a scam.
Yasmin ,
Doha, Qatar,
Jul 19, 2017,
Guest

Netotrade SCam

Netotrade called me to several times and I was afraid to participate and then I decided after long time to start with minimum amount 500$ and when I am paying something happened as if they can see me, they took the double of the amount. after a while another guy as trying to convince me to pay 20000$. I suddenly felt something wrong, The second day they called me again and I told him Named DR. Dyaa let start buying stocks, I refused and told him I want my money back since that time he never call me back and there only lady who keeps telling me I forward your quest to admin. That happened three weeks ago, I can long in and see the amount of money but I cannot refund it.
Thank you
 
ajman, United Arab Emirates,
Feb 25, 2017,
Registered user

plz if someone trading with plz stop trading bcz its looking like fraud

hi this is saqib and i registered an account in netotrade so in one month i got profit 9000 us dollars nd now one week before i submitted one request for withdrawal 4500 dollars and still i did not get in my account . and i tried a lot of times to cantact them but they are not attending any call before they were calling for deposit and now they are not attending my call because i want to withdraw little amount so its means its fraud so if some one can help me in this matter so plzz help
 
Jenno,
London, United Kingdom,
Sep 7, 2016,
Guest

Neto Scammers

Neto Trade (conmen people) rang me last week (cold calling) and tried to scam my bank account for 2500$ without my permission, which sent me massively over drawn.. I never agreed to anything and they even set me up a traders account without my permission again.

Neto Trade then offered me silly amounts of money to go with them part compensation, but you know your will lose all your money and more by reading all these reviews regardless.

FCA have warnings on their website about Neto Trade as scammers, these people from Neto Trade are not regulated and operate totally illegally!!!!!!!!

Neto Trade even set up more withdraws through my bank account and I had to change all my cards details with the bank very quickly.

Luckily, my bank ensured Neto Trade couldn't take my money and I didn't get scammed by Neto Trade, but had lots of sleepless nights worrying over this scam problem.

Best Advise: "If Neto Trade ring you, just hang up the phone", if you don't, Neto Trade will take your money for certain.
 
Abuhadi,
Dammam, Saudi Arabia,
Jun 16, 2016,
Guest

Netotrade is a scamming broker, on 20 Dec 2015, I received a call from UK, from MR Fahed Abdullah an account advisor, asking me to join the forex then I told him that I have no experience in forex. he reassured me bygetting the help of assigned an account manager called Tareq Elyan titled "VIP account manager,faculty of economics,university of cambridge".I deposited 2500 USD, then in few days the account manager ask for more deposits to get bonus 100% in addition getting VIP account. He was calling me on daily basis getting remote access to my laptop performing positions without stop loss order .due lack of experience I didn't realized the TRAP that he was playing. always promising to correct the - ve balance & near margin call by Asking me to add more & more money & even hedging position
it is uncontrolled open losses with big Lots,margin level 250-350 % & too many positions. on Feb 5, 2016 the account manager ask me for more deposit to buy gold, I refused then he threaten me if no deposit he will perform a trading lead to total loss.
He is not agree to do stop loss order or closing non-profiting positions & I Have to do unlimited deposit of more money to solve the shortage of margin otherwise it will be my fault.
there was too many Fake promises to solve it.
eventually in 2 months time, I lost my money.
total amount deposited 210,500.00 USD with 0 USD withdrawal
& margin call on Feb 26,2016 where I have been confronted with complicated situation.
now it is very clear to me that they push me to deposit more & more money trying to save the losing account.
NETOTRADE IS A SCAM
 
TROWAITEE,
, Saudi Arabia,
Jan 19, 2016,
Guest

This is a Terrible company ,they main goal is the commission,your money is not.

2014-12-02 5 Stars Thank everyone who reply to my problem with Netotrade.

I am pleased to announce that I resolved this issue with NetoTrade Compliance Department with agreement.

I would like to thank especially Mrs. Roberts for her kind assistance and understanding.

2014-11-24 1 Star MY STORY started in the last week of October 2014, when I received a call from a person form Netotarde
for the second time where the first was a female tiring for hours to convince me to open account of 2000$ with them. In the begging, I refused knowing the risk in Forex trading but the second person his name is ZAIN AL AYIN told me that you can trade in stocks if you want and that there is 100% profit in weeks time in Apple stock if I open account Today.
I did that ,then I received a call form a another stating that he is my account manger ,then I told him about the deal with apple stock ,but he told it is too late that time the stock was around 102 $ now the stock is 117$.MY ACCOUNT MANGER NAME IS( TAHA AMIN) with a TITLE CHIEF FINANCIAL ANALYST . Then he try to force me to deposit more money for bounce ,I did deposit 5000$ then he told to deposit more ,I deposit 2000$ .
After that, he started to make deals with big lots which cost me a lost of 3000$,then I stooped trading.Most of that was my mistake because I was new to trading in general which that his job to help me.Then he told me do not worry ,the lost will come with profits but I have to deposit 5000$ more to rise margin ,I send a email asking him to stop making trades with my authorization but he (you are not tell me that , i make the calls not you).
In less than a week , I lost all my money , and received a call form a person saying that the account in danger and if i do not deposit more money ,I will lose all 15000$ which I did.
N.B. when tiring to withdraw what is left 7000$ of my money the account manger called me and ask to cancel which I refused he closed the line and made sure I will lose all)
 
Julie Yamsuan,
Abu Dhabi, United Arab Emirates,
Nov 11, 2015,
Guest

Same here Furat Jawad,  same guy as well. Everytime he's calling me he is asking me to deposit money eventhough i already have a profit of $900. In just 3 weeks i lost my my deposit and as well as my profit that ive worked for more than 2 weeks. He will asked you to deposit money so you can trade this and that.
 
Furat Jawad,
Abu Dhabi, United Arab Emirates,
Aug 26, 2015,
Guest

Netotrade is a scam company- they play with the portfolio.They tacke my deposits.They don't pay profits.They have multiple sites but with same managers.T Elyan is main trade broker,take care of him.They are located in UK and Bahrai
 
Craig,
Victoria, Australia,
Jul 23, 2015,
Guest

Hello, WARNING DO NOT DEAL WITH NETOTRADE

I would like to warn the whole world about a company ‘Netotrade’ I have lost AUD$105 237.60 to these scammers, please read what happened below:
Netotrade as an online trading company approached me back on the 8/10/2014 telling me all the good Netotrade does and all that they can do for me and all they wanted was USD50 000 and they would double my money and more on a very low risk platform.
So on the 8/10/2014 I advised them to take USD$50 000 off my Debit Card and they did this in 10 lots, they promised that this would not cost me anything in bank or transfer fees – This in fact caused me HUGE fees totalling thousands of dollars of which I raised with them and they advised me that they would credit my account with those $2700 fees in trading money, and they did so.
The next day or so I got an email from Sandy Ross in the Compliance department – She asked for me to scan in my driver’s licence and Medicare card and Debit card I was using – Front and back, and to sign the form 10 times for all the transactions that I made the few days before – WARNING – DO NOT PROCEED with this.
After 30 days (November) they did in fact increase my money to USD83000, and from then on it started sliding backwards - Then I had the dealer Eddie Cooper on the phone to ask for more money to recover the account promising that he will have it recovered and back up by Christmas, I obliged and let him take another USD25 000 off my Debit card – From this date the account only got worse! - This was supposed to be low risk account?! As displayed and advertised on the Netotrade website. WARNING DO NOT DEAL WITH NETOTRADE
I escalated this to management of Netotrade, being Izzet Kamer - He then started telling me that this loss wasn't his or Netotrade’s problem and that I needed to put more money into the account so that he could start building up the funds - On this score I totally lost it with him and demanded that he recovers some of my money - He said he could do nothing without money. – another WARNING DO NOT DEAL WITH NETOTRADE
After this; my uncle kindly placed about USD15000 into my Netotrade account to assist Izzet to start recovering some of the money – As soon as the money was received Izzet lost the lot and now the account is in negative.
After disputing all transactions with Netotrade I had a few calls from Naomie Brooks in the compliance area to advise that they would reimburse me USD$20 000 as Netotrade money and I was to work the trades on my account – So they are admitting that they don’t know how to trade – WHAT are these people doing as supposed ‘traders’? WARNING DO NOT DEAL WITH NETOTRADE

In assessing Netotrade on the Internet I find this company as a totally fraudulent company having conned people into giving them thousands of dollars with NO return.
WARNING DO NOT DEAL WITH NETOTRADE
On the front of the Netotrade website states:
‘Your money is safe with Netotrade’ – My money was far from safe – in fact I lost the total of a house deposit that I had spent years to save!
‘Knowledge is profit’ – This statement is total fraud! I challenge ALL the trading staff at Netotrade as be totally unskilled and unable to trade in the market. How could Eddie be called a Senior Account Manager and Izzet be called a Senior VIP Account Manager and Head Analyst when they lost all my money – and not only mine but USD200 000 of my uncles money as well?

They are now not answering any emails.

WARNING DO NOT DEAL WITH NETOTRADE
FRAUD COMPANY

Don’t even talk to these traders:

izzet.k@netotrade.com Izzet Kamer
eddie.c@netotrade.com Eddie Cooper
naomie.b@netotrade.com Naomie Brooks

WARNING DO NOT DEAL WITH NETOTRADE
 
Gary7,
Houston, USA,
Mar 9, 2015,
Guest

Managed accounts scammed me out of almost 40K. stay away from these people at all cost!
 
Mudassar,
, India,
Dec 31, 2014,
Guest

I sent a Withdrawal request few days back and amazingly I received if after some processing time from Netotrade.
I am spreading word about this and I am happy with the customer support received from Netotrade.
Keep up the good work !!!!
I don't think this is a scam site
 
Linda,
Oulu, Finland,
Oct 20, 2014,
Guest

Hi again,
I posted a bad review about netotrade last months. The issue has now been resolved. Netotrade has returned my money back to me and both of us are happy at the end

2014-09-28 1 Star Hi
I started trading with netotrade second week of August 2014 with 400 euros, and after two weeks I added 3,900 euros more to my account making a total of 4,300 euros. I entrusted my account to Alan Levin, who boasted to me that he would make me lots of money with his wealth of experience, I believed him and explained to him that I am a student and I had to loan the money I used to trade with netotrade from the bank and would have to return it by the end of September.
True to his word, the first week of trading saw that my initial money tripled in size and all this time Alan kept telling me to pump more money into my account and to notify him whenever I was about to withdraw any money from my account, little did I know that he was plotting my downfall.
The first time I suspected fowl play in my account was when Alan opened three trades simultaneously and under 10 minutes I lost about 4000 k and from then up until now my money has gone from 14,000 euros to less than 700 euros. I also noticed that Alan would deliberately open multiple trades that were losing at very rapid rates and would deliberately leave it. This went on until my husband decided to check on my netotrade forex account seeing that I was a novice and stopped all trades immediately he noticed what was going on. Alan again called me when my account was about 2500 euros balance and managed to convince me to let him keep trading on my behalf after I cried and told him that the money was a loan from the bank and I just wanted to make my initial money back and did not care about profit anymore. After this he told me a day later that he was travelling and has left my account for another, all this while he still kept asking to put in more money. Now almost all my money is gone, I am devastated and very angry, and I appeal to netotrade to please refund all of my money because I know my money is lying somewhere and has not just vanished into thin air.
For your information I am ready to go to any length to bring netotrade down if my money is not refunded, I spoke to Mr Masrawi, who had a similar experience to mine and whose money you have refunded and he told me this about netotrade:
Netotrade is unregulated
Netotrade do not operate from UK
Netotrade address in bank transfer is located in country called Belize
Netotrade have scammed many people in the same way
Netotrade have many guilty verdicts in FPA

 
Dan,
, New Zealand,
Oct 8, 2014,
Guest

Hi Linda,

I have a same experience. I lost almost $ 4500 USD. I'm also student and borrow money from my friends. Alan Levine is a terrible guy. Don't trust this company....they are making foolish to everyone.
 
JRuggerz,
Reading, United Kingdom,
Aug 20, 2014,
Guest

I’m relatively new to forex, so I can’t really compare to a lot of other companies. Netotrade is helping me understand what it’s all about.

I always get service representatives who are very patient and seem to be very knowledgeable.

They have some great articles on how to trade, the whole academy section in the site is very helpful.

I tried their mobile trading app- android, not iphone.
Through the app you can receive signals and SMS with daily analysis..

and I’m trading on the go – I dont have to be logged in from home.
And because it’s daytime, the important markets are all still open, and I don’t miss out the chance to place my trades.
 
theemilym,
Hamilton, New Zealand,
Jul 31, 2014,
Guest

I arrived at Netotrade after some questionable experiences with another company that screwed me.

They advertise the same spreads and leverage as almost everyone else,
but there’s no hidden fees or awkward calls when you want to withdraw.

When I wanted to withdraw my earnings last week they said I need to submit my proof of identity papers.

I’d earned a lot of money over the past couple of months and I wanted it.
So I got the papers all together and uploaded them using my smartphone.

I got the money immediately after that, so I guess it was all for customer security.

Also, their web application is easier to use,
and it allows you to start trading immediately and concentrate on actual trading.
 
reviewerlady,
Pretoria, South Africa,
Jul 13, 2014,
Guest

I’m getting bonuses, really low spreads and 400:1 leverage with them.
You can probably get any one of these anywhere, but they’re giving me all 3 together. I’ve been using MT4 for the past couple of months.
Before that I was using their in-house web program, which is great for beginners because it gives you everything you need (even charts and technical indicators) without scaring you with a cluttered screen.

There’s also a mobile app, but I prefer to be sitting down and taking my trading seriously. I’ve just upgraded to their ECN account so I can get direct access to major market players. You get spreads of 0.3 pips(!). I actually managed to hit a 30% ROI one month. I’m only sorry I didn’t start off here, because they have a really great collection of articles and videos. Even I keep picking up pointers.

The support people are really helpful and patient, and they have experienced brokers and economists on call 24/5. I don’t usually need much help, but they have actually called ME at least twice to warn me I was about to take a loss.
Really, Great job!
 
forexft,
, Belgium,
Jun 10, 2014,
Guest

Letter I wanted to address at Neto Trade after a bad phone call I received from them:

I just received a phone call from one of your sales person. At about 17:45gmt+1, june 10, 2014. It was a french speaking woman. That was already the second phone call from her. The phone number was 00442036952492.

In the first phone call she asked me if I wanted to know more abaout Neto Trade, I said yes. She told me an 'expert' would call me back for more info. I asked if you had MT4 and the person on the phone didn't even know what MT4 was !!!!

Today I received another call from your company. I ask the woman if you have the instrument ETF SPY and she replied: yes. When I asked the trading conditions and contract specifications she was unable and UNWILLING to answer me. She implied I didn't know what I was talking about and that no FX broker has such things, that is why she was unable to give it to me. Her tone was arrogant.

After that she said that SPY was only available for Gold account. After that she said that it was not SPY but SP !! By the way I found out SP is available for ALL account not only Gold !!!

Then I asked about trading conditions for stocks and if there was a comission. She was STILL unwilling to help and spoke to me arrogantly implying I knew nothing about trading! She advise me to get an education first then come back later.

She said many times I needed to open an account FIRST in order to know what was the commission for the trading instrument !! Incredible!

I replied I had no interest in the company if she was unable to answer very basic questions such as contract specifications.

She ended up hanging up on me!!

Do you treat all you client that way? Do you really want to get new client that way? I want some apologies. If you fail to do so I will post this complaint on forex peace army.com and on all forex and trading forums I possibly can. Info on the net is viral and goes very very quick.

To add insult to injury you do not have a phone number nor an email on the site were I can send this complaint to. The only way to get to you is through your chat box. No answer in your live chat. Then after 3 trial a box opened telling me I had left too many messages !!! WHAAAT !! What kind of company are you???? do you really want to do business in this world????

I am reporting to FPA right now!
 
John Sachman,
Glasgow, United Kingdom,
Jun 8, 2014,
Guest

I opened my account after a friend of mine told me about netotrade. I have to say that in this industry it’s easy to get confused, but they make it very simple- easy to fund, easy to access, good spreads. haven’t downloaded their android app, plan to do it soon and will spread the word afterwards.
 
caplas,
Perm, Russian Federation,
May 29, 2014,
Guest

Tried a few brokers in the past year, found some good ones and a lot of bad!! i will recommend netotrade because I believe that you win some and lose some in many places- here I don’t feel like they are cheating like a lot of others. I definitelly sticking in with this one.
 
Yvonne,
, New Zealand,
May 23, 2014,
Guest

I got burnt for $18000 US and never got a single cent back from netotrade ever. DO NOT TRUST ALAN LEVINE he told me he would return my money and did not. I have an email where he says he will send me money and it has never come. Another Netotrade person contacted me and claims no knowledge of him they say given the poor performance he would have been fired.
 
luca81,
Bologna, Italy,
May 19, 2014,
Guest

after losing a lot of money for different brokers, I finally found an honest broker that didnt rip me off. I opened my account, immediately started tradning, got help from their support center plus good tips. I’m spreading the word around to my friends to come too.