Northstate Review (northstate.io SCAM)

NorthState is not regulated and not safe

There is a list of regulated European Union brokers that you can always check out and NorthState is not one of them. So, trading with them is extremely risky and dangerous because these people are free to use your bank details in their favor and leave you with no money at all. It’s just not worth it, especially when you have other trustworthy alternatives if you want to trade.

According to their official website, NorthState is located somewhere in Zurich and they have a Swiss phone number. However, a closer look will reveal that they are, in fact, a subsidiary of Long Creek Partners LDT, in the Commonwealth of Dominica. This is a huge red flag that they are a SCAM because that region is infamous for stealing money from people because CFDs and forex trading are not regulated there at all.

Unregulated brokers have a basic way of tricking people into getting their money and personal info which they will use every time. Traders will first be persuaded via phone call and e-mail to make an initial deposit.

Moreover, they will give you certain deals and offers that seem extraordinary as a way into making you become a victim. Once the first deposit is made, you will end up in a cycle of scammers that will try to get money out of you by offering even more deals and bizarre advantages. We are sure that NorthState also does that.

NorthState will not help you make money

NorthState will not help you make money because they are a SCAM. Also, withdrawing funds from their platform seems like a lot of work that also involves a lot of fees and taxes. There is a flat tax for both wire and credit cards. Then there is also a processing fee and you owe them 10% of your money if your account has not executed a 200 times turnover, which is outrageous!

There are many other fees involved when you withdraw money and, once you’re done, you might end up with only half of your sum. This is unacceptable and a clear indication that NorthState is a SCAM that shouldn’t be trusted! You might not even be able to withdraw money at all because they have all sorts of bizarre policies in place and request a lot of documents. Plus, the waiting times are huge, entire days. This just means that they will find every excuse to NOT let you withdraw your money.

More on NorthState’s ridiculous features

When it comes to leverage, NorthState boasts a huge 1:600 leverage which is there to help them make more money off of you. So, when you lose, you’re losing big and they gain more. Besides that, the minimum deposit that’s $250 seems quite big, especially when other brokers allow you to start with $5.

Their MetaTrader 4 web platform is nice and basic. However, keep in mind that you will NOT be able to create a demo account. So, this is a clear indication that they want you to start losing money right away. When it comes to payment options, you can do it either via wire transfer or credit card. We strongly advise you to choose the latter because then you will have the possibility to request a chargeback. Otherwise, you may lose your money forever.

Inform others about your experiences!

Lastly, telling people about your bad experience with NorthState can prove very useful.  You can do this by leaving honest reviews regarding your problems with this broker on various professional websites and telling your fellow traders what happened to you.

There is also a common strategy that these brokers use once they are revealed as scams. They change the address of their website and get in contact with old clients to convince them to fall victims once more. In case this happens to you too, do not hesitate to report them and let the world know who they are.

NorthState – northstate.io –  a SCAM

NorthState is definitely a SCAM broker that we do not recommend working with. Their huge fees, weird withdrawal process, notorious location, and overall shady vibe do not make them worthy of your time. In case you want to have a successful trading career, go for regulated and popular online brokers that people recommend. Risking your money and personal information is just not worth it.