Nava Gates Review: Navagates.com Forex Scam Exposed

Nava Gates (Navagates.com) is an offshore broker based in the Dominica Republic. NavaGates is selling itself as the go to broker for all CFDs and Forex assets. The few members who signed up are having a terrible time trying to withdraw funds. It would seem the broker is trying every trick in the book to block withdrawals. And this is the reason why everyone should be wary of the broker. Read this genuine NAVA GATES Review and get more details.

About Nava Gates

The broker claims on their about us page that the platform is trusted by hundreds of traders worldwide. Scam brokers will do or say anything to try and make their platforms appear legit. And this would be the case with this ridiculous broker. On their about us page, they use over the moon claims and promises to try and entice new signs ups. Before you get excited with their trading platform, there are a few details to note. These are scam brokers whose end game is to steal from anyone who deposits with them.

Online trading is a lucrative way of making extra profit if the right channels are used. Getting the appropriate broker to help with your trading is the main ingredient to success. Nava Gates fails to inform traders on their background and history. It makes them new to trading and with no history, trusting them becomes an issue. Offshore brokers are a handful when it comes to communicating and releasing funds. And this is what most of the traders have been going through with the platform.

Assets Found on Nava Gates

The broker promises to offer a high liquidity market especially when it comes to currency pairs. Leverage set for the currency pairs on their homepage is 1:300 which is favorable to newbie traders. The spreads vary with each currency pair and are active throughout the trading sessions. Energies listed on their platform include UK oil, US Oil, and Natural Gas. They all come with spread of 5 for oil and 6 for natural gas. The leverage set for energies stands at 1:100 which is considered fair.

Nava Gates is promising members with high leveraged instruments which include futures. Leverage set for futures stands at 1:50 with 1 lot having 100 contracts. Indices found on the website include FTSE 100 and S&P Asia. The broker offers fixed spreads on all major indices. There are two types of metals on offer, Gold and Silver. Leverage for these metals is also set at 1:100. Traders are promised shares from international companies such as Apple, Ferrari, Netflix, among others.

Business Owner

Disclaimer at the footer of their homepage claims Share Oracle Limited owns this platform. The address is from the Commonwealth of Dominica Republic. And this is a clear indication Nava Gates is an offshore broker. A look at the company register in Dominica reveals no such institution is registered. These scam brokers are using a random company name to entice investors into signing up.

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Domain Details

Nava Gates is a broker who has been in operation since 2014. According to the trusted domain register whois.net, the website was created on 21^st June 2104. What this means is that we have a broker who has been operating without a valid license for six years. They have been operating below the radar up until withdrawals became an issue. It would seem they offered genuine trading at first to initial members before greed got to them. And now trying to withdraw funds with this broker is next to impossible.

License and Registration of Nava Gates

These scam brokers have posted a random number to act as their registration number. Disclaimer at the footer of their homepage shows a broker who is using false information. The registration number is not clear whether it is for the broker or their company. A look at most regulators reveals no such broker exists in their data base. The regulators we checked include ASIC, CONSOB, CNMV, CySEC, and FCA. And this is proof Nava Gates is NOT LICENSED OR REGISTERED to offer any trading services.

An unregulated broker spells doom for online investors who sign up with the broker. These brokers rarely insure deposits made as dictated by trading regulations. And this is why none of the members are able to recover funds. Unlicensed online brokers will break industry set regulations just to get unsuspecting investors to sign up. Offshore brokers rarely get the nod to offer trading services outside their jurisdiction. Stay away from this or any other online investment platform without a valid license.

Pros/Cons of Nava Gates

Account Details

Nava Gates is furnishing traders with four account types to choose from. The accounts listed include Bronze, Silver, Gold, and Platinum. Each of these accounts comes with a different spread and they don’t have commissions. Leverage set is 1:100 to 1:400 depending on the account type. Expert advisors are available on the three account types apart from the Bronze type.

Contact and Support

According to their contact page, users can reach the broker using email or phone number. What is interesting about the platform is that they use a UK phone number. Most members don’t realize that this is a virtual phone number. Scam brokers will use virtual phone numbers to try and send the notion they are UK based. Email is one way which gives the broker an advantage in choosing which one to respond to.

Deposit and Withdrawal

Nava Gates is accepting bank transfer and Credit card/Debit cards. Depositing funds is easy as the process takes less than five minutes to complete. What remains to be the biggest hurdle with Nava gates is withdrawing funds. For the past couple of months, no member has been able to withdraw funds. And this is what dealing with offshore brokers amounts to, having no access to funds. Complaints over withdrawal have been lodged to authorities which means the broker is under scrutiny.

Trading Platform

The broker claims to be using MT4 trading terminal as their preferred tool of trade. NavaGates is claiming to have a platform that enables users to use any device. The sad truth is these brokers are using a custom made trading platform. They have used the MT4 logo on their homepage to fool investors. The problem with custom built trading terminals is lack of security and stability. Placing trades takes longer and the security is appalling to say the least. Stay away from this broker for safety reasons too.

Safety of funds with Nava Gates

Security of funds is not safe with a broker is offshore based. Nava Gates is not able to safeguard funds or follow set industry rules. Segregation of funds is not possible with the platform and it lacks security software. Lack of DDoS protection and SSL encryption is proof we are dealing with a rogue platform. These scam artists have nothing else to do than steal from online investors.

Scam or Legit Nava Gates

After carefully reviewing all the evidence, it is clear Nava Gates is a scam waiting to pounce on investors. Stay away from this ridiculous platform which has no valid trading license. Warn your friends about the dangers of signing up with an unlicensed broker. Mark any of their promotional emails as spam. Resist from joining any of their affiliate programs as they too, don’t pay. These are offshore brokers who will shut down shop as fast as they opened. It is our hope that authorities will shut them down and recover stolen funds.

Bottom Line

Adding this broker to our scam blacklist will ensure no one else falls for this trap. Our readers are asked to use approved brokers which are backed by experts. It is the only way to trade safely with online platforms.

We wish all investors a happy and prosperous trading period.