Is NXG Markets a scam?

NXG Markets presents two real registration numbers, neither of which authorises it to be a broker. That is the finding, and it is why we rate it Scam.

What the numbers actually are

The site cites FinCEN MSB registration 31000305990765 and FSCA 51192.

The FinCEN number is not a trading licence. FinCEN is the US Treasury's anti-money-laundering bureau. An MSB registration is a filing a money-services business makes so that it can be monitored for money laundering. FinCEN does not assess a firm's solvency, does not require client money to be segregated, does not cap leverage, and does not authorise anyone to deal in CFDs. FinCEN's own registration page says the listing does not mean a business is licensed or approved. Presenting it as regulatory approval is the trick here.

The FSCA number is an FSP licence, not an ODP authorisation. Under South African law those are different things. A licence under the Financial Advisory and Intermediary Services Act covers advice and intermediary work. Writing a CFD as principal to a South African client requires an OTC Derivative Provider authorisation under the Financial Markets Act. The same gap appears at CIFMarkets.

The address

NXG Markets Limited is registered at Bonovo Road, Fomboni, Island of Mohéli, Comoros Union. That is the same address used by the brokers holding Mwali International Services Authority licences, and on 10 December 2025 the Banque Centrale des Comores published a communiqué naming MISA among structures issuing licences without authority, and recorded referrals to the public prosecutors of Moroni, Mutsamudu and Mohéli.

What is not there

The fund-safety page names no bank, no entity and no regulator. A page about the safety of your money that identifies nobody who holds it is not a safeguard, it is a paragraph.

The offer is a $100 minimum at leverage up to 500x.

How to check this yourself

Search the FinCEN MSB registrant list for the number. Read what the page says the listing means. Then search the FSCA register for 51192 and look at the licence category. Both take a minute and both give the same answer.

The full rating and the sources are in our NXG Markets review.