Broker Name: NorthState
Broker Type: Forex
Country: The Commonwealth of Dominica
Operating since year: 2011
Address: 2nd FLR, Eversleigh House, Cnr Hanover street &Hodges , Roseau , Commonwealth of Dominica
Broker status: Active
Phone: +41 445 087 408
Email: [email protected]
Trading platform Time zone: –
Demo account: –
Mobile trading: –
Web-based trading: –
Bonuses: 35% credit for re-deposit, 10% promotion if you bring in friends
Other trading instruments: –
Minimum deposit ($): 250
Maximal leverage: 1:600
Scalping allowed: N/A
- GENERAL INFORMATION
- FUNDS TRADING AND SECURITY
- TRADING ACCOUNTS
- TRADING CONDITIONS
- TRADING PLATFORM
- NORTHSTATE’S TRADING PRODUCTS
- CUSTOMER SERVICE
Broker Review: Northstate
The first thing you notice when you search for Northstate is that you can’t find them on Google. To enter their website, you must go to the exact Northstate.io web address. That’s already a bad sign, as obscure brokers usually earn that designation through malicious practices. Once you do get into the website, however, it looks quite nice and seems like they’ve put in some effort.
Don’t let looks deceive you, though. Our Northstate review will dig deeper and reveal what’s under the nice-looking coat of paint.
Funds Trading and Security
Northstate raises two major red flags when safety is concerned. Firstly, they hide a lot of information. For example, finding out what platform they use is impossible unless you sign up and pay for an account. Secondly, they are unregulated, meaning they can just pack their bags and leave with your money whenever they wish to do so. Anyone that wishes for a fair trading experience should know to avoid brokers that show such signs.
To nobody’s surprise, there are no demo accounts at Northstate. Furthermore, the lowest account type requires quite a hefty investment, at $250. The later account types cost even more, and the specifications they give aren’t nearly good enough to cover the price. All those are clear signs of a scam and are seen with many shady brokers.
To add insult to injury, Northstate also locked some key features behind paywalls, which is, without any doubt, done to bait you into investing more. However, a bigger deposit would only net you what you can get for free elsewhere.
The trading conditions are a bit confusing as they fluctuate wildly between different account types. Spreads get tighter, which is good, but you get less leverage as you progress. You also lose access to some features, like an account manager, as you get to the more expensive account types.
Regardless of what account type you reach, however, the results are underwhelming and can’t hold a candle to competitors.
As we mentioned earlier in our Northstate.io review, it’s unclear what platform the broker provides. Scam brokers, such as Northstate, usually use a proprietary platform, so that’s a good guess, but there’s no way to know with certainty.
Northstate’s Trading Products
On the surface level, Northstate’s asset section looks fine, it’s split into categories and has a tracker you can use to inspect the exact instruments. However, the tracker doesn’t change to match the instrument you click and always shows the same thing. Also, a popup ad jumps out before you can use the tracker, which is in poor taste.
Perhaps you remember that, earlier in our Northstate review, we mentioned that they lock crucial features behind paywalls. Customer service is the most egregious example, as you only get access to calls unless you pay $2500 for a Standard account. Then you get access to emails, but if you want texts, then you’ll need to invest $25000. That sort of investment bating is one of the more precise ways you can tell if a broker is trying to scam you.
Phone: +41 445 087 408
Email: [email protected]thstate.io
While Northstate did try a bit harder than other shady brokers in designing their website, once you scratch the surface, the broker’s true nature is easy to see. There’s no doubt in our minds that Northstate is a scam, and with all the evidence presented, you shouldn’t be doubtful either.
Of course, we can’t recommend using a service that’s out to steal your money, so stay away from Northstate.
- Trading Instrument