Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighNo financial licence at all while taking client deposits; only a Saint Lucia company registration presented as self-authorisation. Saint Lucia does not regulate forex.
Identity & transparency
6/10 · HighEntity, registration number and address are disclosed, but the address is a known offshore mass-registration building, ownership is hidden, and account managers use first names only.
Withdrawals & conduct
7/10 · HighFund-integrity complaints recur with specifics (9,000 and 16,000 dollars refused, managers named, chat removed) and platform-manipulation allegations, alongside some positive and broker-answered reviews.
Reputation
7/10 · HighIndependent aggregators label it high-risk or scam; 1-star reviews cite withdrawal refusal; a same-day burst of single-review 5-star posts suggests padding.
Website claims
6/10 · HighPresents an offshore company registration as authorisation and promises segregated accounts and negative-balance protection with no regulator to enforce them; no false tier-1 claim found.
Operational history
6/10 · HighUnder three years old (domain 2023, company 2025) and already rebranded once, so no verified track record.
Who they are
A quick desk file on the company behind the brand.
- Brand: NTW Markets (formerly NextTradeWave)
- Legal entity: NTW Markets Ltd, Company Registration Number 2025-00138
- Registered: Top Floor, Rodney Court Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia
- Website: ntwmarkets.com (the older nexttradewave.com now redirects here)
- Only licence: none. Just an offshore company registration in Saint Lucia, which is not financial regulation
- Offers: CFDs and margin forex, metals and crypto, on MT5 and TradeLocker
- Not accepted: USA, UAE, North Korea and certain other regions (per its own site)
- Age claim: domain since 2023, company incorporated 2025, so under three years old
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
Saint Lucia company registration (International Business Company)
Why we reached this verdict
How the evidence adds up.
We reached a likely-scam verdict for four reasons that point the same way.
- No regulation at all. The footer names no financial regulator. It only says the firm operates under the authorization of NTW Markets Ltd, which is the firm authorising itself. The company registration number 2025-00138 is a Saint Lucia International Business Company registration. Saint Lucia does not license or supervise forex and CFD brokers, so no authority protects client money here.
- Money in, money not out. On independent review pages customers describe the same failure repeatedly. One says 9,000 dollars was refused when a withdrawal was requested, naming account managers Steph and Nassir. Another says 16,000 dollars has been stuck for more than four months and that the live-chat support was then taken off the website. Others allege the platform changed winning trades into losses.
- A rebrand that does not clear the history. The original nexttradewave.com now redirects to ntwmarkets.com. The older brand already carried scam and withdrawal-refusal complaints, and that history follows the new name because it is the same operation.
- Padded reviews. A batch of five-star posts from brand-new, single-review accounts appeared on a single day, which is a common way to bury genuine complaints.
Because the operation is under three years old, this report is kept public even though a young firm has a thin track record. We did not find any misconduct we could not evidence added to the score; the score reflects what customers report and the total absence of oversight.
Evidence ledger
Every finding, with its source and how strongly it points.
E1nexttradewave.com returns a 301 redirect to ntwmarkets.com, showing the same operation rebranded from NextTradeWave to NTW Markets.
E2The live site footer names no financial regulator and states the firm operates under the authorization of NTW Markets Ltd itself, with Company Registration Number 2025-00138 in Saint Lucia.
E3A Saint Lucia registration grants only International Business Company status, which is not a financial licence; Saint Lucia does not license or supervise forex trading.
ModerateBrokersView (FastBull)E4On the current brand's review page, customers report refused withdrawals, including 16,000 dollars stuck for over four months and support chat removed from the site.
E5On the former brand's review page a customer reports depositing 9,000 dollars and being refused withdrawal, naming account managers Steph and Nassir; another alleges trade history was manipulated.
E6A cluster of five-star reviews from brand-new single-review accounts posted on one day (16 November 2025) indicates review padding.
ModerateTrustpilot (ntwmarkets.com)E7Domain registration dates: nexttradewave.com registered 13 September 2023 and ntwmarkets.com registered 20 February 2025, making the operation under three years old.
ModerateVerisign RDAPE8No regulator warning-list entry naming this exact domain was found as of August 2026, and the broker is not a clone of a regulated firm.
The other side
The strongest case in this broker’s favour.
In fairness, here is the case for the other side.
- Some reviews are positive and mention fast deposits, tight spreads and successful withdrawals, and the company does reply to reviews.
- The Saint Lucia company registration does appear to be a real registration, so the entity legally exists.
- We found no regulator warning-list entry naming this exact domain as of August 2026, and it is not a clone of a regulated firm.
- Being offshore and lightly regulated is not by itself proof of fraud. Many offshore brokers operate this way.
What tips the balance is the combination: zero real oversight, credible and specific reports of blocked withdrawals with named managers, platform-manipulation allegations, and review padding, all on an operation under three years old that has already changed its brand once.
What would change this
What we would need to see to revise the verdict.
We would revise this verdict if the facts changed.
- A verifiable licence from a recognised financial regulator, confirmed on that regulator's own public register, showing this exact entity and domain.
- A consistent, checkable record of clients being paid out in full and on time, across more than one independent platform, over a sustained period.
- Evidence that the current withdrawal complaints were resolved with funds actually returned.
On the other hand, a regulator warning naming ntwmarkets.com or nexttradewave.com, or a documented advance-fee demand to release funds, would push this toward a confirmed scam.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Frequently asked questions
Quick answers about this broker’s safety.
Is NextTradeWave (NTW Markets) a scam?
We rate it a likely scam. It is completely unregulated, and multiple customers report that they deposited money and were then refused withdrawals. Treat it as high risk and avoid depositing.
Is NextTradeWave regulated?
No. It names no financial regulator. Its only paperwork is a Saint Lucia company registration (number 2025-00138), which is a business registration, not a trading licence. Saint Lucia does not license forex or CFD brokers.
Can I withdraw my money from NTW Markets?
Several users say they could not. Reports include 9,000 dollars refused and 16,000 dollars stuck for more than four months, with the support chat later removed from the site. Some users report successful withdrawals, so experiences are mixed, but the refusals are a serious warning.
Is my money safe with this broker?
There is no external protection. The firm claims segregated accounts and negative balance protection, but with no real regulator to enforce anything, you are relying only on the company's own word.
Who owns NextTradeWave / NTW Markets?
The site names NTW Markets Ltd, a Saint Lucia company registered at Rodney Bay, Gros-Islet. No individual owners or executives are named on the site, and account managers appear under first names only.
How old is this broker?
It is young. The original domain nexttradewave.com was registered in September 2023 and the current domain ntwmarkets.com in February 2025. The company was registered in 2025. That makes it under three years old.
What is a Saint Lucia IBC registration worth for a broker?
Very little for your protection. It only confirms a company exists on paper. It is not a financial licence, and no regulator supervises how the broker handles your deposits.
Why did nexttradewave.com change to ntwmarkets.com?
The old address now redirects to the new one, so it is the same operation under a new brand. Rebranding is common after a broker collects negative reviews. The earlier brand already had withdrawal-refusal complaints.
Is NTW Markets a clone of a regulated firm?
No. It uses its own name and registration and does not impersonate a known regulated company. The problem is that it has no regulation of its own, not that it is copying someone else.
Are the positive reviews real?
Some may be, but a batch of five-star reviews came from brand-new accounts with a single review each, posted on the same day. That pattern is a common sign of planted reviews meant to bury complaints.
What should I check before depositing with any broker?
Confirm the licence number on the regulator's own public register, check that the register lists the exact company and website, read recent independent reviews for withdrawal problems, and avoid brokers that push crypto deposits and pressure you to add more funds.
I was scammed by NextTradeWave. What can I do?
Stop depositing, request a full withdrawal in writing, and contact your bank about a chargeback or recall. Report it to your national financial regulator and police. Do not pay anyone who promises to recover your funds for an upfront fee.
What we recommend
The practical takeaway from everything above.
Treat this broker as high risk and protect your money first.
- Do not deposit new funds. If you have money there, request a full withdrawal now and keep written records of every request and reply.
- Do not pay any tax, fee or verification charge someone asks for before releasing your funds. That is a classic trap.
- If you deposited by card or bank transfer, ask your bank about a chargeback or recall. If you paid by crypto, save the wallet addresses and transaction IDs.
- Report the operation to your national financial regulator and to your local police or fraud line.
- Be wary of anyone who contacts you promising to recover your money for an upfront fee. Recovery scams target people who were already scammed.
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 August 16, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.