Nexudex

I lost a significant amount because Nexudex did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.

I found Nexudex through my accountant's suggestion and the initial impression was positive. But for nearly two years later, I have encountered so many issues that I cannot recommend them. Trades failing, charts not loading, and support tickets going unanswered for days at a time.

Nexudex changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.

For anyone considering Nexudex, please be aware that this company has been flagged by Financial Markets Authority. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.

I invested $25,000 with Nexudex after seeing their professional-looking website. At first, everything seemed fine - they showed me impressive returns on my dashboard. But when I tried to withdraw, they kept making excuses. First it was "processing time," then "verification needed," then "you need to pay a tax fee first." I never got my money back. I have since reported them to Financial Markets Authority.

After for the past year and a half with Nexudex I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.

I had a dispute with Nexudex and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.

Do not believe the bonus offer from Nexudex. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited after doing extensive research and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.

KYC with Nexudex is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.

I am in a dispute with Nexudex over a trade that was clearly erroneous. The price shown was wrong, I closed at a profit, and they reversed the trade and took the money back. They said it was a system error. So I lose and they keep? Unacceptable.