On-line since: About the company:
Nefteprombank renders brokerage services on Forex since 1996. It stands for Joint Stock Oil-Industrial Investment Commercial Bank and forms a part of ZAO Nefteprombank.
7/10
(votes 3078)
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I really don't like Nefteprombank broker! They have constant re-quotes with unacceptable excuses. High spreads on stocks and commodities. The prices are not accurate and the processing of withdrawal are taking longer than usual. Very bad customer supports.
I don't have a bad opinion about Nefteprom Bank. About their website is clearly managed well and the design is pretty well too. I can easily trade during the news time because they have very limited slippage. The best part is that they allowed me to withdraw my profits within 8 hours. I trading in live account with a deposit about $1500 to $2000 in every trading and for every months my profit is more then 50% It's also because their spreads amounting from 2 pips respectively.
Nefteprombank broker has the worst execution service on their MT4 platforms. I can't deal in a Prime account with Nefteprombank broker, as I got huge slippage and they charge huge spread. I wasn't able to make any profits and I've lost $230. So I want to close my account withdrawn the rest of the investment from the Nefteprombank broker.
After about half a year of trading at Nefteprombank, I was able to earn back a hundred percent of my capital already. I did not expect it but it became possible because of the smooth trading transactions at this broker's platform. The spread, although floating, remains at a low amount as well.
I will add to my deposit. Because yesterday I am getting profit from my trading activities, I thought of getting even bigger profits than before. Their service is very satisfying. Besides, they always help me to solve my problems immediately whenever I need even in the night. And the spreads are very low from 2 pips and there are many payment options I can use to make a deposit or take my profit. Within one and a half month I earned $900. I withdrawal of profit to Wire Transfer, money came in 5 hours.
I checked my account, balance of deposit was only $220, another $80 was deducted as a brokers fees. I can't trade normally at all, very bad execution speed. This broker is awful. Execution is very slow and it makes you loose money, orders are not executed properly. They always play against you. Commissions are very high.
I did not last for too long at Nefteprombank. I opened an account with them because they claimed that trading activities at their company would be smooth-flowing. I tried their demo account, and indeed, I had a great experience. However, it was very different when I started a live account. The real platform was shaky and terrible. Orders were not executed well and the platform would often crash. Because of that, I soon closed my account.
Sometimes take profit are not triggered because of this spread and I have to close manually or set the breakeven settings. For 3 days, they cost me $150 by closing my position at a critical lows, then by the time I logged back on the rebound was over and my I couldn't buy back in. They manipulated the margin and spreads on you and auto close your trades making it almost impossible to profit in long run. They never give my money. Please, stay away from them, because your money is not safe from this company.
I opened an account Nefteprom Bank the past month and I now consider closing it. I deposited $1000 and lost $700 because their platform has delay in execution. The average speed isn't as written in the website 0.5 sec for Pro account but instead 2 seconds. I tried to trade commodities like metals Gold and pairs EUR/USD, USD/CAD, USD/JPY. I had problems since day one, and called support team, but they refuse to acknowledge this problem.I requested to withdraw the rest of my money and I will close the account.
Is this broker good? Their website is too simple and lacks information. At first glance, you would not be interested with the broker. I only visited the website of Nefteprombank because one of their representative reached out to me via email (which I don't understand how they got my details). They offered to train me with trading so I don't have to worry if I don't have enough knowledge. But the problem is I don't feel confident enough to trust this broker.
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