Wikilix
Contract reading

What neotrades legally published, but does not want you to read

Every clause below is published by neotrades itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: Neotrades Capital Ltd

sole discretionwithdrawalshidden feeprofit voidingmarginaccount closurebonus lockclient moneydata sharingdispute deadline

Neotrades has stopped opening new accounts, and its whole website is now one support notice. The contract behind it still runs, and it lets Neotrades void your profits once it decides you will not meet your obligations. An account with no login for 90 days is charged $30 a month until it is empty. A $100 bonus needs $1,000,000 of turnover before you can take it out.

Back to neotrades

Contract risk

Money at risk
8.0/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
9
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
30
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
7
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
5

How the 30 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical9
Warning18
Notice3

section 231 of 235is where the deepest clause sits: the very end of the document it is in

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

4 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical15 daysIn the contract. Jump to the clause this comes from.No new accounts, and the whole site is one noticeCritical$30Fee on an unused account. Jump to the clause this comes from.Thirty dollars a month once your account sits stillCritical$1000000Bonus requirement. Jump to the clause this comes from.A $100 bonus needs $1,000,000 of turnover to withdrawCritical5 working daysTime to complain. Jump to the clause this comes from.Statements become final five business days after they appear

What the documents say

30 clauses worth knowing about, worst first, each quoted from neotrades's own files

01

Neotrades tells every visitor on its own site that it is no longer opening new accounts. The Client Agreement it still publishes runs as normal, and either side can end it on 15 days written notice.

Why this matters

Email to support@neotrades.com is the only route to your balance, because the client login address now redirects to that notice. Neotrades returns money only to the account it came from, so a closed card or bank account becomes your problem.

Exhibit 1Critical15 days

Unless required by Applicable Regulations, either party may terminate this Agreement (and the relationship between us) by giving Fifteen (15) days written notice of termination to the other.
Clause 18 (Termination) in Client Agreement, p.43
Read from the broker's site on Open the reference
Our own capture of neotrades.com, taken on Oct 10, 2026The claim, on Support notice on the only page on neotrades.comVisit this page on the broker's siteDownload the full size image file

Buried at section 186 of 235 in the Client Agreement, 79% of the way through.

02

An account with no login and no trades for 90 days becomes Inactive, and Neotrades then takes $30 every month for holding it. The charge runs until the balance reaches zero.

Why this matters

A $200 balance you leave behind is gone in seven months. No login page is left on the site, so keeping the account alive now means emailing support to ask.

Exhibit 2CriticalHarder than usual$30

for a period of 90 days and more, shall be classified by The Company as an Inactive Account
Clause 10 (Inactive and Dormant Account) in Client Agreement, p.29
Read from the broker's site on Open the reference

Where it sits: section 124 of 235 in the Client Agreement, 53% of the way through.

What it costsA $200 balance pays $30 in month one and $30 again each month after. By month seven it is empty, and the account turns Dormant.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Day 90Neotrades classifies the account as Inactive after 90 days with no activity, no login and no positions.10 (Inactive and Dormant Account)
Every month after thatA $30 monthly charge is taken for maintaining the Inactive account.10 (Inactive and Dormant Account)
Balance reaches zeroThe account turns Dormant. Reopening it means contacting support and providing up to date identity documents.10 (Inactive and Dormant Account)
Three months with a zero balanceNeotrades archives the account and all of its history on its trade server.10 (Trading Account Archiving)
  • Worse together with Exhibit 1The charge is triggered by not logging in, and there is no longer anywhere on the site to log in.
03

Neotrades can decide, in its absolute discretion, that you will not meet your obligations in future. Clause 17 then lets it void your transactions and your profits and close your account, with no notice.

Why this matters

Profit already showing in your account can be cancelled before you withdraw it. The contract sets no test you can point to, and gives you no warning and no appeal.

Exhibit 3CriticalHarder than usual

to cancel and/or consider void any Transactions and profits or losses achieved or unachieved and/or to close out the account(s) you maintain with us pursuant to this Agreement, immediately and without prior notice.
Clause 17 (Rights on Default) in Client Agreement, p.43
Read from the broker's site on Open the reference

Buried at section 186 of 235 in the Client Agreement, 79% of the way through.

04

Neotrades asks for USD 10,000 of trading volume for every USD 1 of bonus at 1:200 leverage. Its own example puts $1,000,000 of turnover behind a $100 bonus, inside 30 days.

Why this matters

Miss the volume and every profit made with the bonus is cancelled on day 30. Any withdrawal beyond the $250 that clause 1.4 allows wipes the bonus and those profits at once.

Exhibit 4CriticalHarder than usual$1000000

If your account leverage is up to 1:200, then a generated volume of USD10,000 for every USD 1 of bonus awarded is needed (e.g., for a $100 bonus award the trading volume required to be able to withdraw the entire amount of bonus is $100*$10,000 = $1,000,000).
Clause 3.1 in Bonus Policy, p.2
Read from the broker's site on Open the reference

What it costsAt 1:1000 leverage the table asks USD 50,000 of volume for each USD 1 of bonus. A $100 bonus then needs $5,000,000 of turnover inside the same 30 days.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Bonus acceptedThe bonus amount is used first as the margin for opening a trade.1.6
First lossesLosses come off your own deposited money first, and off the bonus second.1.7
Any withdrawal before the volume is metNeotrades removes the bonus and every profit made with it straight away.3.3
Day 30The bonus expires and profits made with it are cancelled automatically if the volume was missed.3.4
  • Worse together with Exhibit 7Trading hard enough to clear the volume invites the scalping and arbitrage test that nullifies the account and all its profits.
  • Only applies after Exhibit 20The turnover you owe is set by your leverage tier, and three Neotrades documents give three different leverage limits.
05

Your trade confirmations and account statements count as correct and binding unless you object by email within five business days. The same clause also says the objection must be immediate.

In plain words

A manifest error means an obvious mistake by the broker.

Why this matters

A wrong fill or a missing trade becomes unchallengeable once the week is out. Five business days is the whole window, and it starts when the confirmation appears on the site, not when you read it.

Exhibit 5CriticalHarder than usual5 working days

Confirmation of execution and statements of your Account(s), in the absence of manifest error, shall be deemed correct, conclusive and binding upon you if not objected to immediately by email if orders were placed through The Company Online Trading System or by telephone to the Company's Trading Desk, within five Business Days of making such confirmations available to you via our website or we notify you of an error in the confirmation within the same period.
Clause 10 (Confirmations) in Client Agreement, p.24
Read from the broker's site on Open the reference

Where it sits: section 101 of 235 in the Client Agreement, 43% of the way through.

  • Worse together with Exhibit 22The five day window closes long before the complaints process, which Neotrades may take three months to answer, has produced anything.

Four clauses let Neotrades decide your profit was never yours

Clause 17 of the Neotrades Client Agreement voids your transactions and profits once the firm decides, in its absolute discretion, that you will not meet your obligations. Scalping counts as abusive trading, and historic profits can be taken out of the account at any time. A bonus dispute nullifies the account and any or all profits in it.

Profit at risk3 clauses flagged

Neotrades lists scalping, or any strategy built on small price changes, as improper trading. It can then take historic profits out of your account, at its sole discretion, at any time in the relationship.

Why this matters

Profit you made months ago can be pulled back out of your balance if Neotrades later calls your trading abusive. It decides what counts, while warning you that misquotations happen often.

Exhibit 6CriticalHarder than usual

trading strategies that specializes in profiting of small price changes (commonly known as sniping and/or scalping trading strategy)
Clause 10 (Improper or Abusive Trading), g in Client Agreement, p.25
Read from the broker's site on Open the reference

Where it sits: section 107 of 235 in the Client Agreement, 46% of the way through.

  • Worse together with Exhibit 3Abusive trading is also an event of default, which opens the clause that voids every transaction and profit in the account.

Any indication of scalping or arbitrage around a bonus lets Neotrades nullify the account and any or all profits generated. The Bonus Policy makes the firm the sole arbiter, and its decision final.

Why this matters

The wording reaches every profit in the account, not only profit made with the bonus. Nothing in the policy gives you a right of reply or anyone to appeal to.

Exhibit 7CriticalHarder than usual

Any indication of fraud, scalping, manipulation, cash-back arbitrage, scalping or other forms of deceitful or fraudulent activity based on the provision of the bonus will nullify the account and any or all profits generated.
Clause 4.1 in Bonus Policy, p.3
Read from the broker's site on Open the reference

Anyone who works or worked for Neotrades, or has or had a business agreement with it, needs written approval to be a client. Without approval the account closes and the funds in it are confiscated.

Why this matters

Confiscation covers the money you paid in, not only your profit. The clause carries no end date after your job or partnership ends, and it reaches accounts held through partners or any third party.

Exhibit 8CriticalRarely seen

In such circumstances the employee and/or former employee's trading account(s) and all open positions shall be closed immediately and any funds held within the account shall be confiscated.
Clause 10 (Prohibited Trading) in Client Agreement, p.26
Read from the broker's site on Open the reference

Where it sits: section 110 of 235 in the Client Agreement, 47% of the way through.

Our readingTrading agreements usually void the profit from a prohibited arrangement. Taking the whole balance, including the client's own deposit, and keeping that power with no time limit, is unusual.

Neotrades sets the spread, the leverage and the stop out, without notice

Neotrades can widen spreads and cut leverage without notice, and the same clause has you indemnify it for the losses that follow. Positions close automatically at a margin level of 20% or 30%, and the documents never say which applies to you. Three Neotrades documents give three different leverage limits, from 1:50 to 1:1000.

Trading conditions4 clauses flagged

Neotrades can close your positions at a loss and hold you liable for the deficit. A second clause says the opposite: you cannot lose more than the equity in your account.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

A fast gap in the market can leave you owing Neotrades money after your balance is gone. Which clause wins is for a Mauritius court to settle, and Neotrades wrote both of them.

Exhibit 9CriticalHarder than usual

If you do not maintain your margin balances your position may be closed out at a loss and you will be liable for any resulting deficit.
Clause Schedule 1 (Risk Disclosure), 2 in Client Agreement, p.53
Read from the broker's site on Open the reference

Buried at section 231 of 235 in the Client Agreement, 98% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus), ESMA (EU)

Firms licensed by the FCA and CySEC, applying the ESMA measures, must give retail CFD clients negative balance protection, so a loss cannot exceed the money in the account. This contract promises that in one clause and takes it away in another.

neotrades is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Neotrades can widen its spreads, cut your leverage and raise margin requirements without notice. The same clause has you indemnify Neotrades for any losses that come out of those changes.

In plain words

Indemnities are money it says you owe it.

Why this matters

A wider spread moves the price against your open trade and can trigger a stop you set yourself. You carry the cost of the change, and you promise to cover the firm's cost too.

Exhibit 18WarningRarely seen

The Company exclusively reserves the right to widen its variable spreads, adjust leverage, change its rollover rates and/or increase the margin requirements without notice under certain market conditions including, but not limited to, when the trading desk is closed, around fundamental announcements, as a result of changes in credit markets and/or at times of extreme market volatility.
Clause 10 (Trade Adjustments) in Client Agreement, p.24
Read from the broker's site on Open the reference

Where it sits: section 101 of 235 in the Client Agreement, 43% of the way through.

Our readingBrokers commonly reserve the right to widen spreads in thin markets. Making the client indemnify the firm for losses flowing from the firm's own pricing change points the indemnity the wrong way.

The Risk Disclosure says Neotrades will not notify you of a margin call. Positions start closing automatically at a margin level of either 20% or 30%, and the documents never say which applies to your account.

Why this matters

Watching the margin level is entirely your job, even though the Client Agreement describes a margin call being sent. The gap between 20% and 30% decides whether a trade survives a sudden spike.

Exhibit 19WarningHarder than usual20%

When the Margin Level reaches either 20% or 30% (depending on the applicable Stop Out level set by the Company, calculated as the ratio of equity to margin in the Client Account), the Client's positions will start closing automatically at market prices, and the Company has the right to refuse a new Order.
Clause 13 (Margin call) in Client Agreement, p.36
Read from the broker's site on Open the reference

Buried at section 155 of 235 in the Client Agreement, 66% of the way through.

Set against a regulated standard: ESMA (EU), FCA (UK), CySEC (Cyprus)

Firms applying the ESMA measures, including those licensed by the FCA and CySEC, must close a retail client's CFD positions when the money in the account falls to 50% of the margin required. This contract sets that trigger at 20% or 30%.

neotrades is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Margin level 80%Neotrades treats this as a margin call. The Risk Disclosure says it will not tell you about it.13 (Margin call)
Margin level 20% or 30%Your positions start closing automatically at market prices, and Neotrades can refuse new orders.13 (Margin call)

The risk statement inside the Client Agreement says every position carries margin of 2% to 5%, which caps leverage at 1:50. The Risk Disclosure describes leverage up to 1:500, and the Bonus Policy prices a tier up to 1:1000.

Why this matters

Leverage decides how fast a small move empties your account, and the documents do not tell you what yours is. The bonus turnover you owe is set by that same number.

Exhibit 20Warning

All positions carry margin requirements between 2% and 5%.
Clause Schedule 1 (Risk Disclosure), 2 in Client Agreement, p.53
Read from the broker's site on Open the reference

Buried at section 231 of 235 in the Client Agreement, 98% of the way through.

Neotrades has stopped taking clients while its contract keeps running

Neotrades tells every visitor it is no longer opening new accounts, and every address on neotrades.com now shows that one notice. The Client Agreement from May 2025 and the Bonus Policy from October 2025 are still published, and still bind anyone with an account. The site and the contract also give different numbers for the licence Neotrades trades under.

Closing down1 clause flagged

Neotrades' own site calls C185992 its company registration number and gives GB21200093 as its licence. The Client Agreement calls C185992 its Financial Services Commission licence number.

Why this matters

Checking the regulator's register needs the right number, and the two give you different ones. Both cannot be right, and the contract is the version you agreed to.

Exhibit 30Warning

Neotrades.com is a website operated by Neotrades Capital Ltd, which is authorised and regulated by Mauritius Financial Services Commission, license number C185992.
Clause 3 (Information about us) in Client Agreement, p.8
Read from the broker's site on Open the reference

Where it sits: section 30 of 235 in the Client Agreement, near the start.

The fees are in the contract, not on any price list

Neotrades charges 1% plus a flat amount on every currency conversion, and publishes no fee schedule at all. Its swap rates, the cost of holding a position overnight, change at the firm's own discretion and without notice. A swap free account stays free for two to five nights, then pays the ordinary charge.

Cost disclosure4 clauses flagged

Neotrades takes 1% plus one flat unit of your account currency whenever it converts profit, loss, swap fees or dividend adjustments. On a dollar account the flat unit is one dollar.

Why this matters

Every conversion takes its cut before the money reaches your balance. Hold an instrument priced in another currency and the charge lands on each adjustment, not once.

Exhibit 10WarningHarder than usual1%

A conversion fee of 1% plus 1 flat amount respective to your account currency will be applied in cases of conversions of Profit/Loss, swap fees and dividend adjustments.
Clause 5 (Rollovers, Interest Conversion Fees) in Client Agreement, p.12
Read from the broker's site on Open the reference

Where it sits: section 46 of 235 in the Client Agreement, near the start.

What it costsThe example in the contract turns $1,005 into $994. One dollar goes as the flat amount, and ten dollars as the 1%.

Withdraw $100 or less and you pay whatever the banks charge for moving it. The contract never says how much that is.

Why this matters

A small withdrawal can arrive noticeably short, and you learn the cost only when the money lands. Nothing in the document caps it.

Exhibit 11WarningStandard wording$100

The Client agrees that any bank charges that might occur in case of a withdrawal request equal or less than 100 USD/EUR/GBP (or any other currency equivalent), derived from the Client's trading account to the client's designated bank account, will be borne by the Client.
Clause 10 (Withdrawals) in Client Agreement, p.27
Read from the broker's site on Open the reference

Where it sits: section 115 of 235 in the Client Agreement, 49% of the way through.

Neotrades publishes no fee schedule. Its agreement says the rates are available on request, and that swap fees, the cost of holding a position overnight, change at the firm's own discretion and without notice.

Why this matters

You cannot check what you will pay before you trade, or prove afterwards what the rate was. Checking the website for the current rates is written in as your job.

Exhibit 12WarningHarder than usual

You shall pay our charges as agreed with you from time to time, any fees or other charges imposed by a clearing organization and interest on any amount due to us at the rates then charged by us (and which are available on request).
Clause 5 (Charges) in Client Agreement, p.10
Read from the broker's site on Open the reference

Where it sits: section 39 of 235 in the Client Agreement, near the start.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must set out the costs and charges a retail client will pay before that client trades. This contract keeps the rates off the page and offers them on request.

neotrades is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

A swap free account, meant for clients whose beliefs do not allow interest, avoids overnight charges for 2 to 5 nights depending on the instrument. After that the normal fees start.

Why this matters

Hold an index or an exotic currency pair for a third night and you pay the charge the account exists to avoid. Strategies Neotrades decides exploit a swap free account also count as abusive trading.

Exhibit 13WarningHarder than usual2 days

If Customer designates its account as a Swap Free, the account shall remain free of charge during the grace period as indicated in the below table, in accordance with the respective class that the financial instrument belongs to.
Clause 9 (Swap Free Accounts) in Client Agreement, p.19
Read from the broker's site on Open the reference

Where it sits: section 79 of 235 in the Client Agreement, 34% of the way through.

  • Worse together with Exhibit 6Using a swap free account in a way the firm calls exploitation is listed as abusive trading, which opens the clawback of historic profits.

Every withdrawal is approved first, with no deadline attached

A Neotrades withdrawal goes out as soon as possible once the firm approves it, and no deadline appears anywhere in the agreement. Open positions block any payment that would push your margin level below 200%. Neotrades picks the method in its absolute discretion, and sends money back only to the source it came from.

Getting paid2 clauses flagged

Withdrawals go out as soon as possible once Neotrades approves the request. No deadline appears anywhere, and the payment route is whatever Neotrades determines in its absolute discretion.

Why this matters

Nothing in the contract tells you when your money has to arrive, so a slow month breaks no promise. Funds go back to the source they came from, which fails when a card or bank account has closed.

Exhibit 14WarningStandard wording

money may be withdrawn by you from your Account provided that such money are not being utilized for margin purposes or have otherwise become owing to us, once your withdrawal request is approved your withdrawal request will be processed by us and sent to the same bank, credit card or other source for execution as soon as possible.
Clause 10 (Withdrawals) in Client Agreement, p.27
Read from the broker's site on Open the reference

Where it sits: section 115 of 235 in the Client Agreement, 49% of the way through.

Neotrades refuses any withdrawal that would push your margin level, the ratio of your equity to the margin your trades need, below 200%. Below that you have to close positions first.

Why this matters

Money you thought was free sits locked behind your own open trades. Closing them to release it can mean taking a loss you did not plan to take.

Exhibit 15WarningHarder than usual200%

The Company will not accept any withdrawal request where the Client has open positions, and this execution will cause the Margin Level to drop below 200%.
Clause 10 (Withdrawals) in Client Agreement, p.27
Read from the broker's site on Open the reference

Where it sits: section 115 of 235 in the Client Agreement, 49% of the way through.

Five business days to dispute a statement, three months to hear back

Neotrades treats your statements and confirmations as correct and binding unless you object within five business days. A complaint has to be in writing on the firm's own form, and Neotrades allows itself two months to answer, plus one more. Another clause bars you from criticising Neotrades in public.

Challenging the firm3 clauses flagged

The Client Agreement bars you from publicly defaming Neotrades, and from spreading misleading information on social networks, blogs or websites. It calls that criminal and reserves the firm's legal rights.

Why this matters

Posting a public complaint about your account puts you on the wrong side of a term you accepted. Nobody in the document says who decides what counts as misleading.

Exhibit 21WarningRarely seen

The Client shall not proceed to any public defamation of the Company or to any distribution of misleading information, inter alia in social networks, and/or blogs and/or websites. In case of such criminal actions, the Company shall reserve all its legal rights.
Clause 11 (Public Defamation) in Client Agreement, p.32
Read from the broker's site on Open the reference

Where it sits: section 137 of 235 in the Client Agreement, 58% of the way through.

Our readingRetail trading agreements rarely restrict what a client may publish. The second limb reaches any information the firm considers misleading, which covers an honest complaint the firm disputes.

Neotrades takes no verbal complaints, so you have to email the form in its Complaint Handling Policy. It then has two months to give you an outcome, and one more month if it sends a holding letter.

Why this matters

Three months can pass before you get an answer, and the only escalation named is the Mauritius regulator. If you do not reply to Neotrades within three months, it closes your complaint.

Exhibit 22WarningStandard wording

It is the Company's Policy not to accept any verbal complaints or grievances.
Clause Procedure to be followed for the received Complaints, a in Complaint Handling Policy and Procedures, p.3
Read from the broker's site on Open the reference

Where it sits: section 14 of 30 in the Complaint Handling Policy and Procedures, 47% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must give a retail client access to an independent complaints body that can order redress, free of charge. These documents name only the Mauritius Financial Services Commission.

neotrades is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Deposits sent through the processor named in the contract, TCH CONSULTANCY SERVICES CO., LTD of Lima, may not reach your account immediately. Neotrades accepts no liability for the delay and sends you to the processor.

Why this matters

Money that leaves your bank but never appears is yours to chase, from a consultancy in Peru you never chose. Neotrades keeps the client relationship and drops the liability.

Exhibit 23WarningHarder than usual

It is understood by the Client that any deposits made specifically through the Payment Service Provider ("PSP") namely TCH CONSULTANCY SERVICES CO., LTD (Lima), may not enter into their trading account(s) immediately and/or delays may be faced after the payment has taken place.
Clause 12 (Liability and Indemnity) in Client Agreement, p.35
Read from the broker's site on Open the reference

Buried at section 152 of 235 in the Client Agreement, 65% of the way through.

Claims go to Mauritius, and your account can be passed on

Mauritius law governs the Neotrades agreement, and you waive any argument that its courts are an inconvenient forum, while Neotrades keeps the right to sue you anywhere. It can also transfer your agreement and all your data to another company without further notice. Its own Privacy Policy promises ten business days of notice for the same step.

Where you stand2 clauses flagged

Mauritius law governs the agreement and the Mauritius courts hear any claim you bring. The same clause lets Neotrades bring an action in the courts of any other jurisdiction.

Why this matters

Taking a dispute to court means hiring lawyers in Port Louis, under a law you have not read. You also waive the right to argue that Mauritius is an inconvenient place to sue.

Exhibit 24WarningHarder than usual

irrevocably submits to the jurisdiction of such courts (provided that this shall not prevent us from bringing an action in the courts of any other jurisdiction)
Clause 21 (Jurisdiction), i in Client Agreement, p.49
Read from the broker's site on Open the reference

Buried at section 213 of 235 in the Client Agreement, 91% of the way through.

Neotrades can transfer its rights and obligations under your agreement to another company without further notice, and pass on all the information it holds about you. You cannot transfer anything without its written consent.

Why this matters

You can end up contracting with a firm you never chose, in a place you never agreed to. The Privacy Policy promises ten business days of notice for the same step, so the two documents disagree.

Exhibit 25WarningStandard wording

You agree that we may without further notice to you and subject to Applicable Regulations, transfer by whatever means we consider appropriate all or any of our rights, benefits, obligations, risks and/or interests under this Agreement to any person who may enter into a contract with us in connection with such transfer and you agree that we may transfer to such person all information which we hold about you.
Clause 20 (Third Party Rights) in Client Agreement, p.48
Read from the broker's site on Open the reference

Buried at section 208 of 235 in the Client Agreement, 89% of the way through.

Five business days to answer a document request at withdrawal time

Neotrades can ask for more verification documents when you withdraw, and decline the request if they do not arrive within 5 business days. Anything not in English has to be translated first. Card details stay on file for five years, and can be passed to an affiliate or an introducing broker.

Document demands2 clauses flagged

Neotrades can ask for more verification documents when you withdraw, and decline the request if they do not arrive within 5 business days. Anything not in English has to be translated.

Why this matters

The clock starts the day Neotrades asks, not the day you see the email. A translated bank statement in five days is a real cost if your papers are in Arabic or Spanish.

Exhibit 16WarningHarder than usual5 working days

Where the Company requires additional verification document(s) from the Client necessary to fulfil the completion of the withdrawal, the Company reserves the right to reasonably decline the withdrawal request of the Client upon a failure of the provision of the said documents within 5 (five) Business Days from the day the document(s) was/were requested.
Clause 10 (Withdrawals) in Client Agreement, p.27
Read from the broker's site on Open the reference

Where it sits: section 115 of 235 in the Client Agreement, 49% of the way through.

Neotrades stores your card details for 5 years, and will not process a card payment until you agree to that. Its Privacy Policy lets it pass client information, including card details, to an affiliate or an introducing broker.

Why this matters

Your card sits on file for five years after a single deposit. The people who referred you can be handed the same confidential records, and nothing in the policy asks you first.

Exhibit 17WarningHarder than usual

As per our policy, we cannot process your payment before you agree to such storing. A stored credential is information (including, but not limited to, an account number or payment token) that is stored.
Clause 5 (Payments) in Client Agreement, p.11
Read from the broker's site on Open the reference

Where it sits: section 44 of 235 in the Client Agreement, near the start.

Neotrades is the only venue, the only price and the counterparty

Neotrades is the principal to every order, which makes it the only execution venue and the only source of the price you trade on. It may hold positions in the opposite direction to yours. No conflicts of interest policy and no execution policy appear among the six documents it publishes.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Who takes the other side1 clause flagged

Neotrades is the principal to every order, so it is the only place your trade can be executed and the only source of the price. It may hold positions in the opposite direction to yours.

Why this matters

When you lose on a trade, the firm on the other side of it is Neotrades. No outside price feed is named in the documents, and no conflicts of interest policy is published at all.

Exhibit 26WarningStandard wording

We are the principal to every order you place with us and therefore we are the only execution venue.
Clause 10 (Execution Policy) in Client Agreement, p.22
Read from the broker's site on Open the reference

Where it sits: section 93 of 235 in the Client Agreement, 40% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must identify conflicts of interest, manage them and disclose them to retail clients, and publish how they execute orders. Neotrades discloses the conflict inside its agreement and publishes neither policy.

neotrades is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Ninety days of silence costs $30 a month until the balance is gone

Neotrades charges $30 a month on any account with no login and no trades for 90 days, and the charge runs until the balance reaches zero. No login page is left on the site to stop that clock. After six years with no movement, Neotrades can stop treating whatever is left as client money.

In plain words

Dormancy means an account left unused.

Dormancy1 clause flagged

If nothing moves on your balance for six years, Neotrades can stop treating it as client money. It writes to your last known address first and gives you 28 days to claim.

Why this matters

Money left behind loses the protection that keeps it apart from the firm's own funds. The letter goes to the address Neotrades holds, which may be years out of date.

Exhibit 27NoticeStandard wording

You agree that we may cease to treat your money as client money if there has been no movement on your balance for six years. We shall write to you at your last known address informing you of our intention of no longer treating your balance as client money and giving you 28 days to make a claim.
Clause 12 (Unclaimed client money) in Client Agreement, p.35
Read from the broker's site on Open the reference

Buried at section 150 of 235 in the Client Agreement, 64% of the way through.

One Mauritius licence, no compensation scheme, unfinished documents

Neotrades Capital Ltd contracts with you from Port Louis under a Mauritius Financial Services Commission licence, and may hold your money at a bank outside Mauritius. None of the six documents names an investor compensation scheme. The Risk Disclosure still carries the internal notes its own reviewers left in it.

Regulatory backdrop2 clauses flagged

Neotrades says it will try to hold client money in Mauritius, but may hold it outside Mauritius where the protections differ. It accepts no liability if that bank fails.

Why this matters

If the bank holding your money fails, the documents point you nowhere. None of the six names an investor compensation scheme.

Exhibit 28NoticeStandard wording

We will endeavour to hold client money on your behalf within Mauritius however we may also hold your money outside Mauritius.
Clause 12 (Overseas banks, intermediate broker, settlement agent or OTC counterparty) in Client Agreement, p.35
Read from the broker's site on Open the reference

Buried at section 150 of 235 in the Client Agreement, 64% of the way through.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must keep retail client money apart from the firm's own and belong to a compensation scheme that pays limited amounts if the firm fails. These documents name no scheme, and say segregation may not afford complete protection.

neotrades is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

The Risk Disclosure Neotrades publishes still carries its internal review notes, one of them marked to be confirmed with Finance. The Client Agreement's definitions point at clause numbers that do not match its own sections.

Why this matters

Documents that decide what happens to your money went out before someone finished checking them. Following a cross reference in the agreement sends you to the wrong clause.

Exhibit 29Notice

Commented [CA7]: To be confirmed with Finance
Quoted in Risk Disclosure and Warning Notice, p.5
Read from the broker's site on Open the reference

Where it sits: section 13 of 42 in the Risk Disclosure and Warning Notice, 31% of the way through.

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The site treats C185992 as the company registration number and GB21200093 as the licence, while the contract calls C185992 the licence number.

Said in public, in English

Neotrades Capital Ltd is incorporated in Mauritius with company reg. number C185992 with a registered office at 6 St Denis Street, 1/F River Court, Port Louis, 11328, a Mauritius based company that is fully licensed (license no. GB21200093) and regulated by the laws of that country.

Footer of the only page on neotrades.com

In the contract · clause 3 (Information about us)

Neotrades.com is a website operated by Neotrades Capital Ltd, which is authorised and regulated by Mauritius Financial Services Commission, license number C185992.

02

The site takes no new customers while the Bonus Policy published in October 2025 still offers rewards to new ones.

Said in public, in English

Neotrades is no longer opening new accounts, and some changes are taking place regarding our services.

Support notice on the only page on neotrades.com

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of neotrades.com

In the contract · clause Bonus Policy, opening paragraph

Neotrades Capital Ltd (the ‘Company’) offers a number of attractive reward features to its new and regular customers.

03

One clause caps your loss at the money in the account and another makes you liable for the deficit.

Said in public, in English

the Client could sustain significant losses exceeding the amount used to copy a trader or traders, and the Client cannot lose more than the equity in the Client’s account

Client Agreement clause 7.4, copy trading section, p.13

In the contract · clause Schedule 1 (Risk Disclosure), 2

If you do not maintain your margin balances your position may be closed out at a loss and you will be liable for any resulting deficit.

04

The agreement describes a margin call reaching you and the risk notice says none is sent.

Said in public, in English

The Company makes a Margin Call (including the situation where the Platform automatically notifies the Client) and the Client fails to meet it. The margin level is 80%.

Client Agreement clause 13, Margin call, p.36

In the contract · clause 2.2 (Margin call)

The Company will not notify the client for any Margin Call to sustain a loss-making position.

05

The agreement invites a complaint by telephone or in person and the complaints policy refuses both.

Said in public, in English

You may submit a complaint to us, for example by letter, telephone, email, or in person.

Client Agreement clause 20, Complaints procedure, p.47

In the contract · clause Procedure to be followed for the received Complaints, a

It is the Company's Policy not to accept any verbal complaints or grievances.

The documents this reading is based on

7 files, all published by neotrades. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording neotrades publishes.

How this reading was done

Every clause above was read out of a document neotrades publishes itself

This reading was published on .

Documents
6 of 7downloaded from the broker's site, and 6 read in full
Pages opened
22pages walked to find those documents, footer links included
Older copies
6earlier versions downloaded, 5 identical to the copy we hold by fingerprint
Position measured
28clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

Neotrades Capital Ltd

You contract with Neotrades Capital Ltd, at 1st Floor River Court, 6 St Denis Street, Port Louis, Mauritius. The Client Agreement says the Mauritius Financial Services Commission regulates it, and names C185992 as the licence number. The website calls that same number the company registration number. NAGA Global (CY) Ltd of Nicosia appears once, as a Partner Company, and is not the firm you deal with. No Cyprus regulated entity appears anywhere in the six documents.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

All six documents are public, in English, free to download, and each carries its own version and date. The Bonus Policy ends by telling you the turnover may be beyond your reach, and advises you not to accept a bonus you do not understand. Few bonus terms say that. It also lets you withdraw up to $250 without triggering the bonus conditions. You get 14 days to cancel the agreement, material changes need ten business days of written notice, and the Complaint Handling Policy comes with a form and names the regulator you can escalate to.

This review covers all six documents Neotrades publishes, in full. Five of them have not changed since copies taken in November 2025. Two more PDFs sit on the Neotrades server that the site no longer links: a Grey Market Assets Policy from September 2023 and an earlier Bonus Policy, Version 3. Neither would open, so their contents are unknown. Neotrades publishes no fee schedule and no payment page, so there is no price list to check the contract against. The client login address now redirects to the support notice, so what an existing client sees after signing in is not covered.

How to check any of this yourself

Every quote above links to the neotrades file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document neotrades publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge neotrades on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Oct 10, 2026.

If you represent neotrades and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on neotrades. Whether its licence is real and current is a separate check on the broker profile.

What traders say about neotrades

Comments on neotrades are posted on its profile

Nobody has commented on neotrades yet. If you have traded with them, your experience helps the next reader decide.

Write the first comment
Back to the neotrades profile