Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
10/10 · CriticalNo licence of its own, wearing another firm's CySEC identity, plus a warning from that regulator naming the exact domain and an Italian blocking order.
Identity & transparency
10/10 · CriticalPublished another company's legal name and registered address as its own; the actual operator was never disclosed anywhere on the site.
Withdrawals & conduct
5/10 · ModerateOne fund loss report on a review platform and no corroborating pattern; the complaint trail is thin and does not carry this case.
Reputation
8/10 · CriticalWarned by CySEC, blocked by CONSOB and rated unsafe by independent review sites, though the customer footprint itself is small.
Website claims
10/10 · CriticalClaimed another firm's regulatory identity, claimed UK regulation it never held, advertised 25 years and 15 awards, and contradicted its own age claim on the same page.
Operational history
9/10 · CriticalVisible life ran from late 2022 to late 2023 across two disposable domains, against advertised claims of 10 and 25 years.
Who they are
A quick desk file on the company behind the brand.
A short desk file on what this operation actually was.
- Brand: NBI Markets, also written Mercati NBI on its own Italian pages.
- Website: nbimarkets.net, with account and trading subdomains. Earlier at nbimarkets.com. Neither domain is registered any more and neither resolves.
- Legal entity it claimed: NBI Investments Limited. That name belongs to a different, genuinely licensed Cyprus firm and was used without any basis.
- Address it claimed: 256 Arch. Makariou III, Eftapaton Court 2, 3105 Limassol, Cyprus. This is the registered address of that other company.
- Its own licence: none. No regulator anywhere records this operation, and CySEC stated in writing that the website was not an authorised firm's.
- Offered: retail CFD trading on forex, shares, indices, metals and cryptocurrencies, with micro, standard and premium accounts.
- Marketed to: Italian retail investors. The whole site was in Italian.
- Age claim: 25 years of excellence in one place and 10 years in another. Its visible life ran from late 2022 to late 2023.
- Not to be confused with: NBI Investments Ltd of Limassol, at nbinvest.com, which holds CySEC licence 162/12 and is the impersonated party here, not the subject of this warning.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Licences the broker publishes
Cyprus Securities and Exchange Commission (CySEC)
Commissione Nazionale per le Societa e la Borsa (CONSOB)
Financial Conduct Authority (FCA), United Kingdom
Why we reached this verdict
How the evidence adds up.
Two regulators and one register entry settle this, and they agree.
- The licensing regulator disowned the site. CySEC's warning of 25 January 2023 lists nbimarkets.net among websites that, in its words, do not belong to an entity which has been granted an authorization for the provision of investment services. That is the regulator whose licence the site leaned on, naming the exact domain.
- The licence it wore belongs to someone else. CySEC's public register records licence 162/12 to NBI Investments Ltd of Limassol, company number 289258, with one approved website: www.nbinvest.com. The Bank of Lithuania, which lists the same firm for cross-border services, records the same single website. nbimarkets.net appears in neither. The site copied that firm's name and its registered address down to the building.
- Italy blocked it. CONSOB ordered nbimarkets.com and its account and trading subdomains blocked on 14 November 2022 for unlawfully offering financial services. The operation reappeared on the .net domain, which CySEC then named ten weeks later.
- Its own pages contradicted themselves. The homepage advertised regulation in the United Kingdom for a firm it described as Cypriot, claimed 25 years of excellence beside a 10 year figure, listed awards from events that do not award them, and left unfinished placeholder text in the body copy.
- The real firm never ran it. NBI Investments Ltd publishes no retail CFD brand, no trading platform and no mention of NBI Markets anywhere on its site.
We assess the risk of fraud here as high. The scoring reflects that: a weighted mean of 9.0 across the six dimensions, and a floor of 90 that applies automatically once two independent regulator-class findings are on the record. The figure sits at 92 because there are three, from two different authorities.
One limit worth stating plainly. The public complaint trail is thin, a single one star review, so the case does not rest on customer reports at all. It rests on the register and the two warnings.
Evidence ledger
Every finding, with its source and how strongly it points.
E1CySEC's warning of 25 January 2023 lists nbimarkets.net among websites that do not belong to an entity granted authorisation to provide investment services.
E2CySEC's register records licence 162/12 to NBI Investments Ltd, company number 289258, at 256 Arch. Makariou III, Eftapaton Court 2, Limassol, with one approved website: www.nbinvest.com. The suspect domain is not listed.
E3CONSOB ordered nbimarkets.com and its account and trading subdomains blocked on 14 November 2022, among four sites unlawfully offering financial services in Italy.
Hard proofCONSOB communication of 14 November 2022E4The Bank of Lithuania's record for NBI Investments LTD, providing cross-border services from Cyprus, gives the same Limassol address and the same single website, www.nbinvest.com.
E5The site's own footer named NBI Investments Limited as the operating company, gave the Limassol address of the licensed Cyprus firm, and cited an Italian investment firm listing number.
E6The same homepage advertised regulation in the United Kingdom, 25 years of excellence alongside a separate 10 year figure, awards from industry expos, and left unfinished placeholder Latin text in its body copy.
E7nbimarkets.net no longer exists in the domain name system and returns no address, and the registry holds no record for it or for nbimarkets.com.
E8The review page for the domain carries a single one star review, posted 29 December 2022 in Italian, describing money lost with the platform, and is now closed because the company website has shut down.
E9An independent broker review site records the operation at nbimarkets.net, notes claims of UK FCA, ASIC and South African FSCA regulation plus Italian investment firm status, and finds none of them supported.
E10The licensed Cyprus firm's own site describes brokerage, portfolio management and investment advice for corporate and private clients, and names no retail trading brand, no CFD product and no connection to NBI Markets.
The other side
The strongest case in this broker’s favour.
We looked hard for the innocent reading before reaching this verdict. None of it survived.
- Was NBI Markets a retail brand of the licensed Cyprus firm? No. CySEC lists one approved website for licence 162/12 and it is nbinvest.com. The Bank of Lithuania records the same. The firm's own site names no trading brand and offers no CFDs.
- Could this be a passported EU entity operating legitimately in Italy? No. CONSOB's blocking power is used against unauthorised operators. A firm entitled to passport into Italy does not get its site blocked for unlawfully offering financial services.
- Could the register simply have lagged behind a new authorisation? No. The warning came from the licensing regulator itself, and it was explicit that the site was not an authorised entity's.
- Is this a name collision rather than impersonation? It is not a coincidence. The site reproduced the other firm's exact registered address in Limassol alongside its name, which is copying, not overlap.
- In fairness to the operation: we found no regulator finding of theft, no enforcement action for fraud and no court record against it, and only one customer complaint in public. The case is one of impersonation and unauthorised solicitation, proven on the record, rather than a documented pattern of stolen deposits.
- In fairness to the impersonated firm: NBI Investments Ltd appears to be exactly what it says it is, a licensed Cyprus investment firm since January 2012, and is the injured party here.
What would change this
What we would need to see to revise the verdict.
This verdict is falsifiable. Any one of these would force us to revisit it.
- CySEC adding nbimarkets.net to the approved websites of licence 162/12, and withdrawing its warning of 25 January 2023.
- CONSOB lifting the blocking order and confirming the operation was entitled to solicit Italian residents after all.
- Documentary evidence from NBI Investments Ltd itself that it authorised and operated the site, which would turn this from impersonation into a licensed firm's poorly run brand.
- A corporate registry entry identifying the actual operator of nbimarkets.net and tying it to an authorisation somewhere.
What would harden it further: a regulator or court finding naming the operator, or credible customer accounts of deposits taken and not returned.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
CySEC warning of 25 January 2023 naming nbimarkets.net
The Cyprus regulator states the listed websites do not belong to an authorised firm.
CySEC register entry for NBI Investments Ltd, licence 162/12
The genuine licence holder, and its single approved website www.nbinvest.com.
CySEC warnings index
The dated list of CySEC warnings containing the 25 January 2023 entry.
CONSOB order of 14 November 2022 blocking nbimarkets.com
Italy's regulator blocked the operation's earlier website for unlawfully offering financial services.
Bank of Lithuania register entry for NBI Investments LTD
An second official record of the Cyprus firm, listing www.nbinvest.com as its website.
NBI Investments Ltd, the impersonated firm
The licensed Cyprus firm whose identity was copied. It is not the subject of this report.
Frequently asked questions
Quick answers about this broker’s safety.
Is NBI Markets a scam?
Yes. NBI Markets, at nbimarkets.net, presented itself as a licensed Cyprus investment firm by using another company's name, registered address and regulatory identity. CySEC stated on 25 January 2023 that the website did not belong to any authorised firm, and CONSOB had already ordered its earlier site blocked in Italy.
Is NBI Markets a fraud?
We hold evidence, not a court finding, so we put it this way: two regulators acted against this operation, and we assess the risk of fraud as high. CySEC said the site was not an authorised firm's. CONSOB ordered it blocked for unlawfully offering financial services. No regulator or court has published a fraud charge naming the operator, partly because the operator was never publicly identified.
Is NBI Investments Limited in Cyprus the same company as NBI Markets?
No, and this is the most important point in this report. NBI Investments Ltd of Limassol holds CySEC licence 162/12, has done since January 2012, and operates at nbinvest.com. It offers brokerage, portfolio management and investment advice, not retail CFD trading. It is the company that was impersonated, not the one we are warning about.
Was NBI Markets regulated?
No. It held no licence of its own anywhere. It displayed the credentials of a different Cyprus firm, and that firm's regulator publicly disowned the website in January 2023.
Which regulators took action against it?
Two. CySEC in Cyprus named nbimarkets.net in a warning dated 25 January 2023. CONSOB in Italy ordered nbimarkets.com and its account and trading subdomains blocked on 14 November 2022, using its power against sites that unlawfully offer financial services.
Can I still reach nbimarkets.net?
No. The domain is no longer registered and does not resolve. Its sister domain nbimarkets.com is gone too. The last content the site served dates from 2023, after which it became a placeholder page and then disappeared.
I deposited money with NBI Markets. Can I get it back?
Work through the payment rail rather than the platform. Contact your bank or card issuer about a chargeback and give them dates, amounts and any correspondence. Report the loss to CySEC, to CONSOB if you are in Italy, and to your own national regulator. Money sent in cryptocurrency is far harder to recover.
Someone has offered to recover my money from NBI Markets. Should I pay them?
No. People who lost money to clone sites are routinely approached a second time by recovery services that ask for a fee in advance and then disappear. Any request for an upfront payment, a tax, or an unlock fee before your funds are released is the scam repeating itself.
What is a clone broker?
A clone is a website that borrows a real regulated company's name, licence number and address so that anyone who checks the register finds a genuine firm. The licence is real. It just belongs to someone else, and it gives the clone's customers no protection at all.
How could the site look regulated if it was not?
Because every detail it published was true of another company. The name NBI Investments Limited, the Limassol address and the Italian regulatory listing all pointed at a real, licensed firm. The one thing that did not match was the website itself, which is exactly the field a register records and the field a clone cannot fake.
How do I check whether a broker really holds the licence it claims?
Search the regulator's own register by the licence number, then read the website field on the entry. If the site you are being asked to deposit with is not the site named on the register, the licence does not cover it. CySEC publishes an approved website for every Cypriot investment firm precisely so this check is possible.
Is nbinvest.com safe to use?
It is a separate matter from this report and we have not reviewed that firm's service. What we can say is that NBI Investments Ltd appears on the CySEC register with an active licence dated 4 January 2012 and on the Bank of Lithuania's list of EU firms providing cross-border services, and that nbinvest.com is the website both registers record for it.
What we recommend
The practical takeaway from everything above.
There is nothing here to open an account with, and there is something to watch out for.
- Do not send money to anyone using this name. The site is gone, so any approach citing NBI Markets today is a fresh approach by someone reusing a dead brand.
- If you deposited, act on the payment, not the platform. Ask your bank or card issuer about a chargeback and give them the dates and amounts. Crypto transfers are far harder to reverse.
- Report it. CySEC and CONSOB both have this operation on record already, and your national regulator should hear about losses.
- Refuse every recovery offer. Firms that lost money to clone sites are targeted a second time by people promising to get it back for an upfront fee. No legitimate service asks for payment in advance to recover funds.
- Never pay a fee to release a balance. A demand for tax, insurance or a verification payment before a withdrawal is released is always the scam, never the solution.
- Check the domain, not the name. A regulator's register lists the exact website a licence covers. If the site you are on is not the site on the register, the licence does not cover you.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed September 11, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.