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The WikiFX Score of this broker is reduced because of too many complaints!

NEW KNIGHT GROUP LIMITED

Australia|2-5 years|
Suspicious Regulatory License|White label MT5|Regional Brokers|High potential risk|

https://nknight.live

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

1
Server Name
NewKnightGroup-live MT5
Server Location Hong Kong

Contact

https://nknight.live
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Contact number

Other ways of contact

Broker Information

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Company Name

NEW KNIGHT GROUP LIMITED

Abbreviation

NEW KNIGHT GROUP LIMITED

Platform registered country and region

Australia

Company website

Pyramid scheme complaint

Expose

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This platform is a Ponzi Scheme. Please stay away! 4
Previous Detection : 2024-07-14
  • This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
  • The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 6 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

NEW KNIGHT GROUP LIMITED · WikiFX Survey

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Pyramid scheme complaint
Expose
Unable to Withdraw

I discovered a method to overcome

I made a withdrawal request on the 14th of September but it was rejected once, so I reapplied on the 16th although it showed that it was completed, the money did not

2022-11-01 04:08
Unable to Withdraw

Unable to withdraw

The fraud broker NEW KNIGHT GROUP LIMITED trades on the MT5 platform, and uses the foreign exchange to deposit funds. When applying for withdrawal, the only contact method on the Internet is LINE online customer service. Although the so-called official website is registered in Australia, it does not have any Formal enterprise tax number, business address or contact information, the only contact is the email. According to the information query bundled in MT5, it is an online company address from Hong Kong, that is, the APP can be copied at any time in high yield. The so-called "referrals" don't give you time to search for information when they take you, and will downplay the hidden black dealers. Just to tell you that NEW KNIGHT is just a currency exchange company, all funds are controlled in the NEW KNIGHT account, not MT5. When the application amount is large, they are all rejected, and they are told to pay more security deposit before they can unfreeze the funds. It is undoubtedly a bottomless pit and a black account. met a liar. When the relationship between them is sorted out, it is too late. At the same time as the tricks of the liar are constantly updated, either do not do it, it is necessary to spend time to identify it.

2022-08-23 10:39

NEW KNIGHT GROUP LIMITED · Company Summary

basic-info

General Information

Founded in 2007, NEW KNIGHT GROUP LIMITED is a financial brokerage firm registered in Sydney, Australia, with its branches in the United States, Vanuatu and Hong Kong. NEW KNIGHT GROUP LIMITED boasts that it provides access to various trading instruments thorough the MT5 trading platform, and the minimum deposit to start with this forex broker is as high as $1000.

Please note that NEW KNIGHT GROUP LIMITED does not hold any regulatory license to show it operates legally.

Minimum Deposit

In the FAQ section, NEW KNIGHT GROUP LIMITED says that the minimum deposit is 1000 USD, which is absurdly high. most licensed brokers offer more affordable terms for novice traders, including Starter account with a minimum initial deposit of 100 USD or even less.

Leverage

NEW KNIGHT GROUP LIMITED offers flexible trading leverage from 1:100 to 1:200, generous offering yet with high risk.

Leverage may increase potential risks on one hand, but it can cause serious fund losses, especially to experienced traders. So, it is wise for them to choose the safe leverage ratio no more than 1:10.

Spreads

In NEW KNIGHT GROUP LIMITED MT5 trading platform, we discovered the spread on the EUR/USD pair is starting at 3 pips. However, in the forex industry, a spread over 2 pips is considered wide for forex traders. Furthermore, it is not clear if there are additional commissions for trading.

Trading Platform

NEW KNIGHT GROUP LIMITED says it provides easy access to the advanced MT5 trading platform, which is among the most popular trading platforms around the world.

MT5 trading platform features powerful charting tools, multiple technical indicators, as well as EA supported to operate automated trading.

trading-platform

Negative Reviews

Some traders shared their awful trading experience on the NEW KNIGHT GROUP LIMITED platform, complaining that this forex broker stole this deposited money, and blocked their trading accounts. This broker involves serious withdrawal problems. Come to WikiFX to see the whole story.

negative-reviews

Payment Methods

Like most scammers, NEW KNIGHT GROUP LIMITED accepts cryptocurrencies as the only payment methods for clients to make a deposit and withdrawal:

payment-methods

Scammers prefer cryptocurrencies because these transactions are not subject to refunds. Legit forex brokers typically work with a series of payment processors, such as Credit Cards, PayPal, Skrill, Neteller, and more.

Customer Support

Worryingly, NEW KNIGHT GROUP LIMITED left its clients nowhere to turn to since no contact information can be found. This can be served as further evidence that this forex broker is just a scammer established purely for extract traders available funds.

Risk Warning

There is a level of danger that comes with trading on the financial markets. As sophisticated instruments, foreign exchange, futures, CFDs, and other financial contracts are typically traded using margin, which significantly increases the inherent risks involved. Therefore, you should consider carefully whether or not this sort of investment activity is right for you.

The information presented in this article is intended solely for reference purposes.

User Reviews

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6

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FX3925864476
more than one year
First Su Ya finds you on WhatsApp, strikes up a conversation due to accidentally sending to the wrong number (stupid assistant). Says nice things to you. Decides you might know a lot about Forex, really smart, can do it with her help. Come use my family's Forex Trading Site: New Knight. I'll help you. Money goes in, but money never comes out. I think it's a training site that inputs real Forex numbers for XAUUSD, and you aren't supposed to notice the extra letter they added.
2023-04-10 14:57
1
0
0
FX1082635599
more than one year
It's ridiculous. I wanted to withdraw, but customer service told me that their system was being upgraded and they could not withdraw for the time being, so I was asked to wait patiently. I'm just wondering, why are deposits without any problems? When it comes to withdrawals, there are so many problems that stop me.
2022-12-05 15:34
Reply
0
0
blew888
more than one year
Scammed site. Website went down after a few trades, I tried to do a withdrawal, but they denied every time. I recently found the new website, they started deleting the google searches, so I found the URL, https://user.newkht.info/login, funds still existed that time, but weeks later, funds were depleted by a couple trades all of the sudden by the admins.
2022-10-31 06:12
2
0
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