The company was established about 10 years ago in Vanuatu and is an offshore broker. It is managed by Nfx Capital Vanuatu Inc which has its own affiliate companies including the company located and regulated in India. The company has a network of offices and representative offices in China, and India, a large office is located in Russia and Cyprus.
The company specializes in providing services for the organization of trade in currency pairs, gold and silver in the financial markets. Also, through NordFX you can buy securities of the most well-known companies. The broker has developed and implemented new algorithms of automatic trading — RAMM. But, we do not recommend to use other’s experience because it is not a guarantee of a positive result, moreover, it is difficult to believe in promises from the screen, while there are many negative reviews on the Internet about this company.
Services and support
The company provides professional assistance in case of need, but is not particularly suitable for beginners due to the fact that when working with a small balance, professional support will not be available. Has its own terminals, therefore, in the access only trade through MT4 and MT5 (including applications for devices on iOS, Android). For new customers will be a challenge to master all the functionality of Metatrader.
There is a good opportunity to protect investments and insure a transaction from $2,000 in case an analyst makes a wrong forecast or the market reverses in the opposite direction. In margin trading, the maximum financial leverage is 1:1,000, which allows you to start even with a minimum deposit of $10. Yes, it is a plus for beginners, but for such sum it is possible to open only one transaction. The company focuses on Asian countries, therefore, in addition to English, Russian, Spanish, the company is ready to provide services in Hindi, Arabic, Chinese, Thai, Malay and several other exotic languages.
Training Materials and Trading Signals
When analyzing the Russian version of the site, you will find a good set of articles, but the level of information leaves much to be desired. There is an analytical section where the trading signals are published, but they are not so difficult to find in the public domain
Minimum initial deposit
All you have to do to activate your account in NordFX is to deposit $10
Commission fees and spreads
Spreads differ depending on the rate the client chooses. If you take a classic forex deal on the Euro/Dollar — spreads are at 2 pips, if you take a professional account, then for the same currency pair, the spread will be 0.9 pips.
You can use the maximum leverage of 1:1000 but it is not the biggest one in terms of spreads. High leverage carries a high profit margin and the possibility of high risk.
NordFX — trading platforms
As it was mentioned before, the broker does not have its own platform, so, perlagaet work with the most recognizable brand from the exchange sphere — Metatrader, which includes all the most popular tools and gives an opportunity to create your own strategy. It is possible to add an automatic Expert Advisor EAS. MultiTerminal version is available for professionals with several accounts under management.
Available variants of payment for the company services and replenishment of the trading account:
Options, indeed, a large kolchetvo, in addition to the classics — card or transfer by requisites, the broker cooperates with systemsOKRAҮ, Qiwi, Yandex money, Neteller, Skrill and others.
General information about NordFX
The company was introduced to the general public in 2008 and now has offices in several countries with their own regulations. We checked this company, it is not a fraud, moreover, the company has a good name in the brokerage environment. The company is willing to provide a bonus amount equal to the amount of the deposit to encourage customers. The site attracts clients from different countries, so, 13 languages are available to choose from, mostly Asian languages. The company uses several operating models which together negate the company’s influence on its clients’ transactions. The trades are opened directly, bypassing the dealing broker. This eliminates the human factor and makes order conditions more comfortable for the trader. The company, depending on the legal entity has regulators in the following countries: Cyprus, India, Vanuatu. The accounts offered by the broker are varied and differ in the size of the minimum deposit, spread size, and commission. Among them there are demo accounts without usage fee, with possibility of working out of own strategy, accounts without swap (so called Islamic accounts), ECN and STP accounts, as well as micro and VIP. If the client has no time, we offer PAMM accounts with an opportunity of trust management.
NordFX reviews on trading accounts
The company attracts clients with different levels of income and experience; therefore, several different accounts are offered for work at once.
A brief description of the accounts:
A demo account is first of all an opportunity for a client without any experience to understand the peculiarities of the platform, to work out the behavioral algorithm and select the most successful asset for trading, and all this with no risk for one’s savings.
The standard account — giving all tools for real trading, will suit absolutely the majority of beginning players. Thus execution of transactions occurs in the shortest terms. Here the mode of trade without participation of the person is already available. Especially suitable for people who have a limited time for trade on the exchange.
Professional account — the initial amount, with which it is possible to open such an account — $50, which is not a big sum, but the conditions are much better than in the previous tariff. Here it is possible to open the deal with the volume from 0.01, and there are no account maintenance fees. The balance is displayed in both fiat currency, BTC and ETH.
Zero account — the minimum level of initial investment is one hundred U.S. dollars, spreads are not constant and start from zero points on some positions, but there is a commission for the execution of each order — 0.0045%.
The company, which was founded more than ten years ago, is now represented in different countries, and the number of clients has more than a million people. During this time, the company has studied the needs of its clients and prepared different variants of cooperation and developed a strategy to solve the main issues. The broker has received a lot of awards for its client focus and excellent staff with a high level of training. When it comes to the security of customers’ personal information, all data is protected and all information is stored exclusively in encrypted form. Clients’ money is kept in accounts to which the company has no access, a guarantee of safety of funds and free withdrawal of profits. Accordingly, the company has laid a strong financial foundation sufficient to operate only with its own money. There are various instruments for compensating losses to clients in case of the broker’s liquidation, which is also a definite plus for traders of any level.
The reliability and transparency of the company is controlled by several regulators, such as CySEC in Cyprus, which issues permits all exchange operations. The company holds a license MIFID, a kind of anti-monopoly service, which monitors that the conditions of exchange trading are the same for all players.
Subscription to the compensation schemes, which will help in the case of liquidation of its resources.
The starting amount on the client’s account, depending on the type of account from 10 to 100 dollars. Of course, for a full-fledged trade, this is probably not enough, however, the decision to increase the capital is solely up to the account owner.
Clients’ commission costs
Commissions are not charged for all accounts except for the zero account.
The company does not have its own trading terminals, trading is offered on the basis of MT4 and MT5, which cannot be called a bad decision. Sometimes, this is better than reinventing something that has been working for a long time, and very successfully. A trader can both analyze and open transactions at the touch of a button on his computer or smartphone (mobile version is also available at no charge). In order to make a more accurate prediction, we advise to use several built-in timeframes. So you can determine the direction of the trend and close the deal in your favorable direction. It is allowed to use different strategies on the basis of this terminal, it is equally convenient for currency trading and operations with precious metals and cryptocurrencies. This terminal is complemented by MT4 or MT5 news blocks, which is a plus for opening trading positions promptly.
The company will continue to develop, the secret of success in customer focus, high quality training of its own specialists who then pass their knowledge, their success stories to the company’s clients. The regulators are quite authoritative and the presence of the offices in several countries clearly shows that the company is not afraid to meet its clients face to face. We especially recommend to consider this broker for safe and successful trading on world markets.
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