Naqdi Review 2025: Is It Safe? License "Exceeded" Risk and Scam Complaints Exposed

Introduction: A Mixed Safety Profile

Unlike unregulated black-market platforms, Naqdi (Naqdi Securities Currencies Brokers) operates with a registered legal structure, reflected in its decent WikiFX Score of 6.37/10. The broker scores highly on software reliability (9.36/10), utilizing standard trading platforms. However, a closer evaluation reveals a discrepancy between its regulatory permissions and its actual business conduct, alongside concerning user feedback accusing the broker of withholding funds.

Regulatory Analysis: The “Exceeded” License Risk

The most critical part of this review is understanding Naqdi's split regulatory status. It is not “unregulated,” but it is operating in a grey area in certain jurisdictions.

The Valid License (South Africa): Naqdi Group (PTY) LTD holds a valid Financial Service Provider license from the FSCA (South Africa) under license number 51598. This indicates that for clients specifically contracted under the South African entity, there is a layer of legal oversight.

The “Exceeded” License (UAE - Critical Warning): The primary risk stems from its UAE operations. According to WikiFX data, Naqdi Securities Currencies Brokers holds a license from the UAE Securities and Commodities Authority (SCA) (License No. 20200000150).

However, the status of this license is marked as “Exceeded”.

• The Issue: The license type is strictly for “Investment Advisory.” It is a Non-Forex license.
• The Risk: Naqdi appears to be offering brokerage services (retail forex/CFD trading) while only holding a license to give advice. This means they are operating beyond their permitted business scope. If a dispute arises regarding a trade, the SCA may not be able to protect the investor because the broker was not authorized to execute trades in the first place.

User Exposure: “Scam” Allegations and Withdrawal Failures

Despite the moderate score, the “Exposure” section on WikiFX contains specific allegations from verified traders that contradict the broker's marketing claims.

Case 1: The “Bankruptcy” Claim and 4-Month Delay A particularly serious allegation comes from a UAE-based investor who explicitly labeled the broker a scam. This user reports that their withdrawal request has been stalled for over four months. Beyond the delay, the complaint paints a picture of internal instability, alleging that employees are quitting due to “bad management” and suggesting the company may be facing insolvency. The user supported these claims with a screenshot showing a pending withdrawal of $20,250, which remains unprocessed despite appearing as “Approved” in the system portal.

Case 2: Hidden Fees and Execution Delays Another trader, identified as Andrei2203, highlighted deceptive trading conditions and technical failures. After depositing $300 via the Tron network based on a promise of “no commission,” the user discovered that fees were indeed charged on the standard account. Furthermore, the trading experience was marred by significant execution delays of around 1.5 seconds, which is often detrimental for active traders. When attempting to retrieve their capital, the user faced a “withdrawal loop” where the broker claimed the funds were sent to the wallet, yet the assets never arrived, raising doubts about the authenticity of the transfer confirmation.

WikiFX Final Verdict

Naqdi is a complex broker. It is not a complete ghost entity, as it holds an FSCA license and functional software, yet operational risks remain high. The regulatory status is mixed; while valid in South Africa, it is marked as “Exceeded” in the UAE for operating beyond its legal scope. Combined with negative user sentiment stemming from specific reports of stalled withdrawals and internal management issues, the overall risk level is high. While the score of 6.37 suggests some legitimacy, these regulatory discrepancies and withdrawal failures make this broker risky. Investors should be wary of depositing large sums until these withdrawal delays are proven resolved.

To view the latest user complaints and regulatory updates for Naqdi, please visit:https://www.wikifx.com/en/dealer/1705598161.html