Read this NordFX broker review before opening your account. Is this a Reliable Forex Broker? Find out more with our AtoZ Markets Forex broker review of NordFX.
NordFX is a Foreign Exchange and CFD broker, which was founded in 2008. It is operating under the company name of NFX Capital VU Inc. This Broker offers 4 different types of trading accounts along with a maximum of 1000:1 leverage. Therefore, if you are curious about their offer, you may check the following review for details.
We have done an extensive review of the company and found it legit and recommendable. This broker provides maximum flexibility on deposit requirements for all traders.
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NordFX is a Foreign Exchange and CFD broker, which was founded in 2008. It is operating under the company name of NFX Capital VU Inc. This company holds a financial regulatory license from the Vanuatu Financial Services Commission of Vanuatu.
It offers to trade on multiple asset classes including Forex, Precious Metals, Oil, Stock exchange Indices, Stocks and Crypto from 4 different types of trading accounts. The broker also offers the ability to trade from the globally famous platform MetaTrader 4 for Windows, Android, and iOS.
From the start of 2008, more than 1,250,000 accounts have been opened under NordFX by clients from more than 188 countries. Moreover, this company has been honored with over 50 prestigious awards.
NordFX also provides research tools like an economic calendar, trading calculator, and live market analysis. There is a learning center with enormous educational videos on trading strategies for beginners and advanced traders.
NordFX is regulated by the Vanuatu Financial Services Commission of Vanuatu. The number of clients and the wide range of services indicates that this Broker is trustable. Moreover, it has achieved more than 50 awards that also indicate strong trustworthiness.
NordFX provides the standard MT4 trading platform. In this platform, traders do not need any third-party plugins to unlock the full features. However, this platform may not be suitable for some advanced and experienced traders. Overall, the automatic trading and creating custom solutions on the MT4 infrastructure have made this trading platform in the retail sector.
NordFX offers the below-mentioned features for its traders:
- 9 different time frames
- Variety of tools for technical analysis
- Automated trading
- Multiterminal for handling several accounts at a time.
- Wide choice of free indicators and advisors
- Creating your own indicators and advisors (MQL4)
- High-security 128-bit encoding
- One-click trading
- Trailing stop
- Available in Android & iOS
NordFX made an effort to provide choices from four different types of accounts. As we know, it is difficult to trade equity CFDs and Forex from the same trading account. Therefore, NordFX offers four account categories so that traders can pick the right type according to their trading strategy.
#1 Fix Account
This account is suitable to trade a wide range of trading instruments with 28 currency pairs, 11 crypto pairs, metals, and 6 CFD indices. The maximum leverage available for this account type is 1:1000. Therefore, it is possible to make significant profits using a small starting capital. Overall, this account is suitable for stable trading, including trading with expert advisors.
The minimum deposit requirement for this account is 10$. The execution type is instant and the stop out level is at 20%.
#2 Pro Account
Traders can trade with 33 currency pairs, 11 crypto pairs, metals, and 6 CFD indices through the Pro Account. The minimum deposit requirement for this account is 250$. However, traders can trade with Market execution with 20% stop-outs.
#3 Zero Account
The minimum deposit requirement for this account type is 500$. It has low dynamic spreads from 0 pips and about fast market execution which is achieved thanks to a large number of liquidity providers.
Moreover, like the above-mentioned account types, traders can invest their capital in USD, ETH, and BTC. It also provides market execution and requires 20% stop-outs.
Traders can trade with 68 Stock (Indices) from this account type. For this account, the only deposit accepted is in USD. However, the commission fee is 0.2% and credit leverage is 1:5. The lot size is from 1 to 1000 with step 1.
NordFX Cryptocurrency trading opportunity for more than 10 Crypto pairs via their website https://nordfx.io. Traders can trade Bitcoin, Ethereum, Litecoin, Ripple, etc. The commission for crypto trading is 0.09% per side and the server is open 24/7.
NordFX earns revenue through a combination of spreads and commissions. However, it depends on the trading account type and asset.
It charges an inactivity fee of $10 per month if the account remains dormant for 365 consecutive days. Moreover, it offers a VPS service in partnership with Fozzy for a reduced price of $13.95 per month.
NordFX traders can access customer support 24/5. Its customer service is available in English, Spanish, Russian, Chinese, Arabic, Hindi, Bengali, Farsi, Indonesian, Thai, Sinhalese, Vietnamese, and Malay.
The best approach to reach customer support is via live chat, e-mail or by web form fill outs. It also offers phone support in English, Bengali, Hindi, Sinhalese, Chinese, Russian, Thai.
NFX Capital Vanuatu is regulated by the Vanuatu Financial Services Commission (VFSC). Moreover, it is listed in the regulator's Active Financial Dealers Licensee List with the registration number of 15008. NFX Capital Cyprus LTD is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with the license number of 209/13.
NordFX group, besides NFX Capital Vanuatu, includes two more licensed brokers. Nord Forex India Pvt LTD which is regulated by the Securities and Exchange Board of India (SEBI) with the registration number INZ010009835 and National Stock Exchange of India (NSE) and the Indian Joint Stock Exchange Ltd (USEIL).
However, most international traders will avail services from them via their VFSC regulated entity.
NordFX has over 1,250,000 accounts from over 188 countries. This broker is regulated in three different types of regulated authority and grants four trading accounts. Under the VFSC regulated entity, it provides zero spread with a maximum of 1:1000 leverage that makes them competitive.
The research material from NordFX is light but the educational section is strong. Trading instruments are light, but it is sufficient for retail traders. Moreover, NordFX has three different types of investment funds and supports PAMM and Copy Trading accounts. It also provides VPS service at a lower cost.
There are many potentialities with NordFX, whilst its current foundation is also solid. Traders can boost their trading experience with any type of the third- party provided EA’s. This broker offers a well-diversified approach to trading. Since the broker has been adding more features, such as its crypto trading offers.