Wikilix
Contract reading

What NTW MARKETS legally published, but does not want you to read

Every clause below is published by NTW MARKETS 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: NTW Markets Ltd.

sole discretionwithdrawalsbonus lockunilateral amendmentdeemed acceptancehidden feekyc freezeprofit voidingcountry restrictionoffshore

NTW Markets asks you to accept terms it does not publish. Its client agreement page carried a full contract in April 2026 and now carries only a footer. The documents it does publish let it hold a withdrawal, take back profit, and recalculate your closed trades after its own mistake. Seven of its nine legal documents are linked from nowhere on the site.

Back to NTW MARKETS

Contract risk

Payout refusable
9.0/10

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.
8
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
17
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
9
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
4

How the 17 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.

Critical8
Warning7
Notice2

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.

1 of these 2 figures comes from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical12Time to complain. Jump to the clause this comes from.No client agreement is published at all7 daysWithdrawal limit. Jump to the clause this comes from.Card refunds close after seven days and cost you

What the documents say

17 clauses worth knowing about, worst first, each quoted from NTW MARKETS's own files

01

You are asked to tick a box agreeing to terms that NTW Markets does not publish. Its client agreement page held a contract with twelve numbered clauses in April 2026. The same page now carries only a footer.

Why this matters

You cannot read what you agreed to, so you cannot hold NTW Markets to any of it. The terms link on the sign-up form leads to a page with no terms on it.

Exhibit 1CriticalRarely seen12New

Company: NTW Markets Ltd., a premier broker in international CFDs trading, operates under the authorization of NTW Markets Ltd. with Company Registration Number 2025-00138 and registered address at Top Floor, Rodney Court Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia.
Quoted in Client Agreement
Read from the broker's site on Open the reference
Our own capture of ntwmarkets.com, taken on Oct 5, 2026No client agreement is published at allVisit this page on the broker's siteDownload the full size image file

Our readingBrokers bury a client agreement, shorten it, or write it in their own favour. Publishing none at all, while still requiring acceptance of it at sign-up, leaves no document that either side can be held to.

  • Worse together with Exhibit 10With no contract published and no complaints page, there is neither a term to rely on nor a route to raise it.
02

NTW Markets tells you on its deposit page that your money is kept separate from the company's. Its risk warning says a third party may hold your money in an omnibus account, which pools many clients' money together.

Why this matters

If that third party fails, your money may not be identifiable as yours. The deposit page you were sent to never mentions this.

Exhibit 2CriticalStandard wording

The third party to whom the Company will pass money may hold it in an omnibus account, and it may not be possible to separate it from the Client’s money.
Quoted in Risk Warning, Third Party Risk
Read from the broker's site on Open the reference
Our own capture of ntwmarkets.com, taken on Oct 5, 2026The claim, on Security of funds section of the deposits and withdrawals pageVisit this page on the broker's siteDownload the full size image file
Our own capture of ntwmarkets.com, taken on Oct 5, 2026What the contract says, clause Third Party RiskVisit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must hold retail client money in segregated accounts and tell clients where it sits. This contract says separating your money from the firm's may not be possible.

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

03

If NTW Markets credits a bonus to your account by mistake, clause 15 lets it recalculate your closed trades at smaller sizes. It can then take back profit, balance, or a withdrawal it already paid you.

Why this matters

Money already in your bank can be reclaimed over a mistake you did not make. Clause 15 also puts the duty on you to notice the error and report it.

Exhibit 3CriticalRarely seen

If your account is found to be holding more bonus credit than the programme allows, or bonus credit that is no longer due, NTW Markets reserves the right to remove it and to rebalance your account to the position it would have been in had only the correct credit ever been applied.
Clause 15 in Deposit Bonus Terms & Conditions
Read from the broker's site on Archived copyOpen the reference
Our own capture of ntwmarkets.com, taken on Oct 5, 2026A bonus credited in error lets the firm recalculate your trades (clause 15)Visit this page on the broker's siteDownload the full size image file

Our readingRecovering an overpayment is ordinary. Reopening trades that already closed and rerunning them at the position sizes your own capital could have carried is not: it replaces what happened with what the firm says should have happened, and charges you the difference.

  • Worse together with Exhibit 7One clause reruns your trades after the firm's own error, the other reclassifies your profit after a weekend gap, and both end in forfeiture.
04

The deposit page says you can take your money out whenever you like. Clause 12 of the bonus terms lets NTW Markets withhold any withdrawal at its sole discretion, and clause 7 holds it while an audit runs.

Why this matters

Your withdrawal can sit unpaid while NTW Markets reviews your trading, and clause 7 sets no deadline on that review. The test is whether your activity is deemed to be in violation, which the firm decides alone.

Exhibit 4CriticalHarder than usual

NTW Markets reserves the right to cancel, reverse, withhold, or forfeit any bonus, profit, or withdrawal at its sole discretion if account activity is deemed to be in violation of these terms.
Clause 12 in Deposit Bonus Terms & Conditions
Read from the broker's site on Archived copyOpen the reference
Our own capture of ntwmarkets.com, taken on Oct 5, 2026The claim, on Opening paragraph of the deposits and withdrawals pageVisit this page on the broker's siteDownload the full size image file
Our own capture of ntwmarkets.com, taken on Oct 5, 2026What the contract says, clause 12Visit this page on the broker's siteDownload the full size image file
  • Worse together with Exhibit 12Taking a bonus locks your whole deposit in place, and the same terms then let the firm hold the withdrawal you need to get it out.
05

If you decline to hand over information NTW Markets asks for, your account can be frozen. Its privacy policy says the funds held on that account can be frozen too.

Why this matters

Your money can be locked while a review runs, and the AML policy puts no limit on how long. Staff are told to answer your questions about the restriction with a neutral explanation only.

Exhibit 5CriticalHarder than usual

Your refusal to provide us with the personal information in some cases may lead to freezing of your accounts with us and the funds held on such accounts.
Quoted in Privacy policy
Downloaded from the broker's site on Open the reference
Our own capture of ntwmarkets.com, taken on Oct 5, 2026Declining a document can freeze your account and fundsVisit this page on the broker's siteDownload the full size image file
  • Worse together with Exhibit 14The red flag list decides when a review starts, and the privacy policy decides what happens to your money while it runs.
06

The top menu on every NTW Markets page offers Negative Balance Protection, and the page it leads to is blank. The programme terms say it is not automatic, not a feature of your account, and not a guarantee.

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

Negative balance protection means a broker writes off a loss that takes your account below zero. If NTW Markets decides not to apply it, you owe the shortfall.

Exhibit 6CriticalHarder than usual

Every case is considered on a case-by-case basis. The programme is not automatic, it is not a feature of your account, and it is not a guarantee that any future shortfall will be covered.
Quoted in Negative Balance Protection Program
Read from the broker's site on Open the reference
Our own capture of ntwmarkets.com, taken on Oct 5, 2026The claim, on Main navigation menu item, shown on every page of the siteThis capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file
Our own capture of ntwmarkets.com, taken on Oct 5, 2026What the contract says, clause Negative Balance Protection ProgramVisit this page on the broker's siteDownload the full size image file
Our own capture of ntwmarkets.com, taken on Oct 5, 2026Negative balance protection is not a feature of your accountVisit this page on the broker's siteDownload the full size image file
Set against a regulated standard: ESMA (EU), FCA (UK), CySEC (Cyprus)

Firms licensed under ESMA rules, including those supervised by the FCA and CySEC, must give retail CFD clients negative balance protection on an account basis. This programme is applied case by case and can be withdrawn at any time.

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

Three separate routes let NTW Markets take back profit you already made

Clause 15 of the NTW Markets bonus terms lets the firm recalculate your closed trades at smaller sizes if it credited a bonus by mistake, then reclaim profit, balance, or a withdrawal already paid. Clause 10 reclassifies your profit as bonus funded after a weekend price gap, and makes it forfeitable. The trading rules separately let NTW Markets delete a price it calls wrong and annul every trade made at it.

Profit clawback2 clauses flagged

A weekend price gap that pushes your balance into bonus credit changes what your later profit counts as. Clause 10 treats everything you then earn as bonus funded, and NTW Markets can forfeit it at its own discretion.

Why this matters

A price move you did not cause, while the market was shut, can cost you the recovery you traded for. Any loss in the same situation stays yours under clause 8.

Exhibit 7CriticalRarely seen

In the event that a weekend gap or session open price movement causes the account balance to draw into bonus credit — meaning your own deposited capital is no longer covering the open position — any subsequent recovery or profit generated while the account remains in that state will be considered bonus-funded and subject to forfeiture at NTW Markets’ sole discretion.
Clause 10 in Deposit Bonus Terms & Conditions
Read from the broker's site on Archived copyOpen the reference
Our own capture of ntwmarkets.com, taken on Oct 5, 2026A weekend gap can turn your later profit into forfeitable profit (clause 10)Visit this page on the broker's siteDownload the full size image file

Our readingThe trigger is not anything you did. A gap between Friday's close and Monday's open reclassifies your own money as the firm's credit, and every profit you make from that point is forfeitable while the state lasts.

NTW Markets alone decides whether a price was real. Its trading rules let it delete that price from its records and annul every trade made at it.

In plain words

A manifest error means an obvious mistake by the broker.

Why this matters

A winning trade can be cancelled afterwards on the firm's own judgement about its own price feed. The risk warning then leaves you liable for losses on positions you opened with that cancelled profit.

Exhibit 8CriticalHarder than usual

The Companyis entitled to delete information on a non-market quote from the quote base. All trading operations performed at a non-market quote shall be annulled and the executedpending orders shall be cancelled.
Quoted in Trading Operation, Non-Market Quote
Read from the broker's site on Open the reference
Our own capture of ntwmarkets.com, taken on Oct 5, 2026Trades at a price the firm calls wrong are annulledVisit this page on the broker's siteDownload the full size image file
  • Worse together with Exhibit 11NTW Markets is the other side of your trade and also the only judge of whether the price you traded at was genuine.

The deposit page says Free and the rules say the server decides

Every payment method on the NTW Markets deposit page shows a commission of Free. Clause 3.31 of the trading rules says you pay a fee set on the firm's own server for your account type, and clause 2.5 gives the server precedence over anything published on the website. Clause 3.6 adds that the spreads shown to you are purely informative.

Cost disclosure1 clause flagged

Every payment method on the deposit page shows a commission of Free. The trading rules say you pay a fee set on NTW Markets' own server for your account type, and that the server wins any conflict with the website.

Why this matters

You cannot find out what a trade costs you before you place it. The published spreads are described as informative only, so the numbers you compared before signing up are not the ones you get.

Exhibit 9WarningHarder than usual

The Client shall paya feefor performing trading operations according tothe size and / or rulesof their calculation set up on the Company’s server for a relevant accounttype.
Clause 3.31 in Trading Operation
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must disclose costs and charges to a retail client before they trade. These rules put the operative figures on a server the client cannot see.

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

Every withdrawal is something NTW Markets may choose to hold

Clause 12 of the NTW Markets bonus terms lets the firm withhold any withdrawal at its sole discretion where it judges your activity to be in breach. Clause 7 puts a withdrawal on hold while it audits your trading history, with no deadline on the audit. Getting a card deposit back instead has a 7 day window, needs you to have placed no trades, and costs you the firm's exchange rate losses.

Exit conditions1 clause flagged

You have 7 days from the payment itself to ask for a card deposit back. The refund only works if you placed no trades, and the firm's exchange rate losses come out of the money returned to you.

Why this matters

Place one trade, or take longer than a week to change your mind, and the route closes. What you get back is also less than what you paid in.

Exhibit 13WarningHarder than usual7 days

All cancellation requests shall be submitted within 7 days from the moment of the initial payment
Clause 2 in Refund policy
Read from the broker's site on Open the reference

What it costsOn a $1,000 card deposit returned under this policy, the processor's charges and any exchange rate loss NTW Markets took are deducted first. You receive $1,000 less those amounts, which the policy does not cap.

A deposit bonus freezes your own money in place

Clause 3 of the NTW Markets bonus terms requires your full deposit to stay in the account, and removes the bonus without notice if you move any part of it. Clause 5 caps your leverage at 1:100 while the bonus is active. Clause 6 lets NTW Markets rewrite these terms with no notice, effective at once on accounts that already hold a bonus.

Bonus lock1 clause flagged

Taking a deposit bonus requires your whole deposit to stay in the account. Move any part of it and clause 3 removes the bonus immediately, without notice, and clause 5 caps your leverage at 1:100 while it runs.

Why this matters

Your own money stops being freely movable for as long as the bonus sits there. NTW Markets can also change these terms with no notice, taking effect at once on accounts that already hold a bonus.

Exhibit 12WarningHarder than usual

If any portion of your deposited funds is withdrawn or transferred out of the trading account while the bonus is active, the bonus will be automatically and immediately removed from your account without notice.
Clause 3 in Deposit Bonus Terms & Conditions
Read from the broker's site on Archived copyOpen the reference

Changing your mind about a deposit is logged as a warning sign

The NTW Markets AML policy treats a deposit withdrawn with little trading as a layering indicator and escalates it to the compliance officer. It flags accounts sharing an IP address, a device or contact details, which catches two people trading from one home. The firm also names the USA, UAE and North Korea as restricted, then adds other regions and points to an FAQ page that does not exist.

Flagged activity2 clauses flagged

If you deposit and then withdraw without trading much, the AML policy treats it as a sign of money laundering and sends it to the compliance officer. Two accounts sharing one internet connection or device are flagged the same way.

Why this matters

Changing your mind about a deposit can start a review that restricts your account. So can a relative trading from the same home connection as you.

Exhibit 14WarningStandard wording

Deposits immediately withdrawn with minimal or no trading activity (layering indicator)
Clause 6.2 in Anti-Money Laundering & Financial Crime Prevention Policy
Read from the broker's site on Archived copyOpen the reference

NTW Markets names the USA, UAE and North Korea as places it does not serve, then adds other regions without saying which. It points you to an FAQ page for the rest, and no such page exists.

Why this matters

You cannot confirm from the site that your country is accepted before you deposit. The UAE was added to this list after April 2026, so the list does change.

Exhibit 17NoticeStandard wordingNew

We do not offer our brokerage services to residents of certain jurisdictions such as USA, UAE, North Korea, and other regions. For more information, please refer to our FAQ page.
Quoted in Client Agreement, Regional restriction
Read from the broker's site on Open the reference

The contract you accept at sign-up is not published anywhere

NTW Markets' client agreement page carried a contract with twelve numbered clauses in April 2026, and carries none today. The sign-up form still requires you to agree to Terms and Conditions, and its link leads to a page with no terms on it. Complaints appears in the footer as plain text with no link, and no complaints page exists on the site.

Missing contract1 clause flagged

Complaints is listed in the footer of every NTW Markets page as plain text, with no link behind it. No complaints page exists on the site, and the April contract sent every dispute to one.

Why this matters

You have no published route to raise a problem, and no named body above the firm to take it to. The trading rules also make the firm's own server log the only record of what you asked for.

Exhibit 10WarningHarder than usual

Any dispute shall first be raised through the Company's Complaints Handling Procedure (available at www.ntwmarkets.com/complaints).
Clause 11.1 in Client Agreement & Terms of Business
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must run a complaints procedure and tell clients about an independent scheme that can hear the case afterwards. No procedure and no scheme are published here.

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

NTW Markets is the other side of your trade and the judge of its price

The NTW Markets trading rules define a trading operation as performed between the Client and Company, so the firm takes the opposite side of what you place. The same document says the reliability of a quote is defined solely by the Company. Its About Us page tells you it operates without conflicts of interest.

Both sides1 clause flagged

Every trade is performed between you and NTW Markets, so the firm is the other side of it. The same rules say the firm alone decides whether a price was reliable.

In plain words

Liquidity providers are outside banks and brokers.

Why this matters

NTW Markets gains when you lose, and it sets the price that decides the outcome. Its about page tells you the opposite, that it operates without conflicts of interest.

Exhibit 11WarningStandard wording

Trading Operation shall mean aconversion operation with anon-deliverable financial instrument performed between the Client and Company, i.e., anoperation implying the buying or sellingof an instrument without the transfer of its ownership.
Quoted in Trading Operation, Trading Operation
Read from the broker's site on Open the reference
Our own capture of ntwmarkets.com, taken on Oct 5, 2026The claim, on Opening paragraph of the About Us pageVisit this page on the broker's siteDownload the full size image file
Our own capture of ntwmarkets.com, taken on Oct 5, 2026What the contract says, clause Trading OperationVisit this page on the broker's siteDownload the full size image file

Four live documents cannot agree on which company this is

The trading rules that govern your orders name PNM Investments Company as the Company, and the risk warning refers to opening an account with PNM. The footer and AML policy name NTW Markets Ltd., registered in Saint Lucia under company number 2025-00138, and say it operates under its own authorization. No regulator is named anywhere, and the AML policy still carries an unfilled blank where its reporting channel should be.

Who you contract with2 clauses flagged

The trading rules that govern your orders name PNM Investments Company as the Company, and the risk warning tells you to think before opening an account with PNM. The footer and the AML policy name NTW Markets Ltd.

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.

Why this matters

You cannot tell from these documents which company holds your money or who you would sue. No regulator is named anywhere: the footer says NTW Markets Ltd. operates under its own authorization.

Exhibit 15WarningRarely seen

These Regulations define the generalprocedure and termsof the Client’s orders and requests processing, under which PNM Investments Company (hereinafter referredto as ‘the Company’) provides the service for performing margin trading operations with non-deliverableover-the-counter instruments on trading and investment accounts.
Clause 2.1 in Trading Operation
Read from the broker's site on Open the reference

Our readingA broker group with several entities normally says which one a retail client contracts with. Here two unrelated names appear across four live documents, and the registration number given is a company number rather than a licence.

NTW Markets publishes its anti-money-laundering policy with a blank left in it, where the reporting channel for staff should be named. Its own subtitle calls the document a generic, jurisdiction-neutral framework.

Why this matters

The policy that decides when your account is frozen was not finished or fitted to Saint Lucia. It is also marked for internal use only, yet published on the public site.

Exhibit 16NoticeRarely seen

Internal SARs shall be submitted via [the Firm’s designated secure reporting channel] and shall include:
Clause 7.1 in Anti-Money Laundering & Financial Crime Prevention Policy
Read from the broker's site on Archived copyOpen the reference

Our readingAn unfilled square-bracket placeholder left in a published policy shows the document was adopted from a template without being completed. The privacy policy has the same character, pointing clients to the Privacy Act 1993, which is not a law of Saint Lucia.

Where the marketing and the contract disagree

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

01

The deposit page promises your money is held apart, while the risk warning says it may be pooled and unidentifiable.

Said in public, in English

Company and individual accounts are segregated so that your funds are untouched

Security of funds section of the deposits and withdrawals page

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

In the contract · clause Third Party Risk

The third party to whom the Company will pass money may hold it in an omnibus account, and it may not be possible to separate it from the Client’s money.

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

02

Withdrawal is advertised as always available and written as something the firm may withhold whenever it judges your activity to be in breach.

Said in public, in English

You can withdraw your money 24/7.

Opening paragraph of the deposits and withdrawals page

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

In the contract · clause 12

NTW Markets reserves the right to cancel, reverse, withhold, or forfeit any bonus, profit, or withdrawal at its sole discretion if account activity is deemed to be in violation of these terms.

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

03

The about page claims no conflicts of interest, while the trading rules make NTW Markets the other side of every trade you place.

Said in public, in English

We prioritize providing a hassle-free trading environment that upholds integrity and operates without conflicts of interest.

Opening paragraph of the About Us page

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

In the contract · clause Trading Operation

Trading Operation shall mean aconversion operation with anon-deliverable financial instrument performed between the Client and Company, i.e., anoperation implying the buying or sellingof an instrument without the transfer of its ownership.

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

04

The site sells negative balance protection as a standing feature in its menu, and the programme terms deny that it is one.

Said in public, in English

Negative Balance Protection

Main navigation menu item, shown on every page of the site

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

In the contract · clause Negative Balance Protection Program

The programme is not automatic, it is not a feature of your account, and it is not a guarantee that any future shortfall will be covered.

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

What changed quietly

This is our first reading of NTW Markets, so there is no earlier version of this page to compare it with.

  • REMOVEDClause 1.2

    The agreement a client had to accept to open an account is no longer published on the page that held it.

  • REMOVEDClause 11.1

    The only complaints route NTW Markets ever named has gone, along with the contract that named it.

  • REMOVEDClause 6.3

    A promise that you could not lose more than you deposited has been replaced by a programme the firm applies case by case.

  • REMOVEDClause 5.2

    The only withdrawal deadline NTW Markets ever published is no longer in any document on the site.

  • REMOVEDClause 5.3

    A $5 monthly dormancy fee was published in April and is now neither published nor withdrawn in writing.

  • REWRITTENClause Regional restriction

    The UAE was added to the list of countries NTW Markets does not serve, with no notice to clients already there.

    We do not offer our brokerage services to residents of certain jurisdictions such as USA, UAE, North Korea, and other regions.

The documents this reading is based on

9 files, all published by NTW MARKETS. 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 NTW MARKETS publishes.

How this reading was done

Every clause above was read out of a document NTW MARKETS publishes itself

This reading was published on .

Documents
7 of 9downloaded from the broker's site, and 7 read in full
Pages opened
23pages walked to find those documents, footer links included
Older copies
1earlier versions downloaded
Marketing pages
4public pages set against what the contract says

Who the contract is with

NTW Markets Ltd.

The AML policy and every page footer name NTW Markets Ltd., registered in Saint Lucia with Company Registration Number 2025-00138. The privacy policy calls the same firm NTW Markets Limited and says it is authorized SVSRA, without saying what that body is. Two other live documents name a different company. The trading operation rules call PNM Investments Company the Company, and the risk warning tells you to consider your position before opening an account with PNM. The footer names no regulator and says NTW Markets Ltd. operates under the authorization of NTW Markets Ltd.

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

The deposit bonus terms are clearer than most brokers manage. They say your own deposited money stays yours and that you can withdraw it at any time. They also confirm that asking for the bonus to be removed is not penalised, and that clients who take no bonus face no limits on trading style. Clause 14 even lets you withdraw profit while the bonus stays in place. The risk warning is unusually detailed on platform failure, and the AML policy is fuller than most offshore brokers publish at all.

We read the privacy policy and the partner terms in part, not end to end. No earlier copy exists for the bonus, negative balance, trading operation, risk warning, refund, privacy or partner documents, so we cannot say when their clauses first appeared. The fees and spreads that actually apply to an account are not published anywhere: the trading rules say they sit on NTW Markets' own server. We found no other language version of the site to compare the documents against.

How to check any of this yourself

Every quote above links to the NTW MARKETS 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 NTW MARKETS 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 NTW MARKETS 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 5, 2026.

If you represent NTW MARKETS 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 NTW MARKETS. Whether its licence is real and current is a separate check on the broker profile.

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