Nava Gates Scam Review – DANGER!
OFFICIAL SCAM URL: navagates.com
The Nava Gates Forex and CFD broker definitely looks like the real deal at a glance, but things start to unravel upon further inspection. This is our Nava Gates review and we are here to keep you safe from scam brokers like this!
Nava Gates Scam Factors
As mentioned above, there are quite a few red flags and scam factors which came to our attention here. Let’s take a look at all of the shady aspects which make us suspect that this Nava Gates broker is a scam broker.
Anonymous Leadership
For one, the navigates.com website does not display any information in terms of company leadership or ownership. Yes, we are told that the company is owned by Share Oracle LTD. However, there is also no ownership information present for this company.
This is what we like to call an anonymous and faceless scam. How can we trust this broker with our money when we have no idea who is in charge? This complete lack of transparency is a strong indication that the Nava Gates broker is a scam. Unless there is something illegal going on here, why else would the people in charge not let us know who they are?
Bogus Contact Info
What also stands out about the Nava Gates broker is how the contact information listed on the site is clearly bogus. First off, we tried emailing these guys, and of course, nobody ever responded to us. This was the first sign that something is fishy here.
Next, we tried calling them with the provided phone number, several times, but nobody ever picked up the phone. What also stands out here is how the company claims to be located in the Dominican Republic, yet the phone number is from the UK. It’s a virtual phone number and it is meant to distract from the fact that this is an unregulated offshore broker.
Fake Company Registration
Next, this company claims to be registered in the Dominican Republic under the name Oracle Share LTD. The website even goes so far as to provide us with a company registration number. Well, this is also not true.
For one, you should never use any sort of offshore broker as they are not really regulated or controlled at all. However, this is not even an offshore broker. We checked the Dominican Republic’s business registry, and no such business under this name is registered there. Therefore, the Nava Gates broker and the company behind it are both unregistered and have no real legal authority at all.
Nava Gates – No Licensing
Moreover, it is also painfully obvious that this Nava Gates broker is not licensed. Brokers which provide financial investment services to people are by law require to have the appropriate licensing, such as from the SEC or the FCA, just to name a couple.
Well, we looked far and wide, but we could not find a single shred of evidence which would indicate that Oracle Share LTD or Nava Gates is licensed in any way, shape, or form. In other words, this is a completely illegal, unlicensed, and unregulated broker. It has absolutely no authority handling anybody’s money.
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An Unsecure Trading Platform
What also stands out about the Nava Gates broker is how it claims to use MetaTrader 4 or the MT4 trading platform. Well, this is actually not true at all. Sure, these crooks slap the MT4 logo onto their own platform, but this is no different than slapping a fake Nike logo on a pair of knock off shoes. Navagates.com does not use MT4.
They actually provide their own custom made trading platform that is engineered to look like MT4. This platform is not secure at all, it has no encryption, and no security of any kind. This is why it is so easy for the crooks at navigates.com to steal money from their investors. They are using their own unsecure platform to facilitate the theft of funds.
Nava Gates- Ridiculous Accounts
Another thing that stands out about the Nava Gates broker is how the minimum deposit amounts for all accounts are ridiculous. For those of you who don’t know, the industry standard, the set number for the minimum deposit is $250.
This is the acceptable minimum deposit which brokers are allowed to ask of people. Well, most of the accounts are well above this level. Moreover, besides some small differences with leverage, there are no noticeable differences between the 4 account levels. This is ridiculous considering that the best account requires a $10,000 minimum deposit.
No Withdrawals
One of the most telling scam factors here is how there are no withdrawals possible. We have personally communicated with well over a dozen people, all of which have been scammed by navigates.com. The story is always the same. People are just not able to withdraw funds.
Some people have their accounts totally blocked and some people just receive error messages when they go to make a money withdrawal. One way or another, nobody, not a single person, has ever been able to successfully withdraw money from these scammers. This is perhaps the biggest red flag of all!
A Shady Referral System
The other red flag which stands out about this Nava Gates scam broker is how there is a shady referral system in place. We are told that for each person referred by a member, the member will get a nice bonus. However, there is no info present in terms of how much this bonus is.
At any rate, we also know that these con artists do not allow for withdrawals, so it is not like you will ever see that bonus. Moreover, all you are doing by referring friends and family is actively helping Nava Gates to scam those people out of their hard earned money!
Nava Gates Review – The Verdict
The bottom line is that the Nava Gates broker is a complete rip off. The one and only purpose it serves is to steal money from innocent investors!
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