NordFX is a forex broker that was founded back in 2008. They hold a license with the Vanuatu Financial Services Commission in Vanuatu. Our NordFX review will get into the details of what they can offer you.
NordFX offers you the opportunity to trade forex, metals, crypto, oil, CFD indices and stocks with three main accounts. There is also a Savings account for investment. The current NordFX minimum deposit is only $10. To understand what they offer and how comprehensive it may be, you should look through the NordFX demo account.
Is NordFX Safe?
When looking at our NordFX review's safety, we checked out what kind of investor protections they have in place. NordFX regulation is overseen by the Vanuatu Financial Services Commission.
Traders using this broker will be able to enjoy the protections provided under the laws of the regulatory bodies. NordFX review research shows that they do not have any investor protection funds. However, they have segregated accounts for client funds.
NordFX Account Types and Platforms
The NordFX account types include Fix, Pro, Zero and Savings account. Traders on NordFX use MetaTrader for Windows, Mac, iOS, and Android. The leverage is very high and can go up to 1:1000.
The Fix account with this, you need a NordFX minimum deposit of $10. The spread is two pips with a leverage of up to 1:1000 and a quote precision of up to 4 digits. You do not need to pay commissions when using this account.
The Pro Account
The NordFX minimum deposit on this one is $250 with a spread that starts from 0.9 pips and a leverage of 1:1000. The quote precision is five digits with no commissions charged.
The Zero Account
The NordFX minimum deposit on this one is quite higher than the others, at $500. The spread starts from 0.0 pips, and the leverage is the same as the other two, with a quote precision of 5 digits and a commission of 0,0035% per trade, per side.
NordFX also offer savings account for the investor.
There is only one platform on NordFX. As one of the most well-recognized platforms with the most users globally, most traders likely know how to use it. NordFX MT4 does not have the plugins that make the platform so great.
However, the essential tools you get with MT4 in its most basic form are more than enough for the average trader. You can get the NordFX MT4 MultiTerminal for when you have several accounts to manage simultaneously.
NordFX Asset Classes
It is worth noting that NordFX makes its priority in financial instruments available for clients to trade. Even with the most basic account, traders can access major currency pairs, indices, and metals.
The better the account you have, the more financial instruments you are offered.
NordFX Tradable Instruments
Traders have access to 60 instruments that cover over 30 forex pairs, over 11 cryptos, over five indices, metals, and stocks. The costs of trading with NordFX, vary and depend on the account type and markets you chose.
On the Fix Account, the spread for EUR/USD is 2 pips without any commission. The same pair on the Pro Account is 1.2 pips with no commission. On the Zero Account, it is 0.3 pips with a commission.
The NordFX Trading Experience
In researching this NordFX review, we looked at what clients say and how the company has come to be the international broker it is. First, they have a good track record of offering forex services to traders who want to enter the market. They have done this well for 13 years.
They are appropriately regulated and offer clients three main accounts with both commissions and no commissions, depending on the one you pick. Their customer support is responsive and knowledgeable to help traders solve problems.
NordFX Unique Features
The NordFX bonus that this broker offers included additional trading features like VPS services and uninterrupted trading, because of the service.
Users can also get signals, to help them learn how the experts trade, so they can improve their strategies. The signals services will allow you to copy what the best traders are doing and give you access to custom programming and indicators.
If you're interest to know how to use signals, you can find instructions on the NordFX website.
NordFX also offers investment funds to traders so that they can have access to professional asset management services. Currently, NordFX provides traders with access to 3 different investment funds called:
- Pro-Industry Fund
- Pro-Tech Fund
- Pro-Expert Fund
With all these opportunities, the traders can do way more with their money than if they try trading without expert help.
NordFX Commissions and Spreads
Trading costs on NordFX vary depending on your account type and the market you trade. Some of the accounts are commission free, and others are commission based. Details of each can be found on the NordFX website.
The reason why NordFX can compete is that they outsource their liquidity needs to third-party providers. They can then keep the costs low because of the substantial trading volume provided.
On many trades you will do on NordFX, commissions do not apply. You also need to aware that there is a withdrawal fee charged. The amounts all depend on the methods you use to withdraw. The details are available on the official NordFX website.
The NordFX minimum deposit is only $10, allowing any trader to get an account.
NordFX is a basic broker with the bare minimums and adequate financial instruments. There may be more serious brokers in the market and an abundance of tools you can use elsewhere. However, if you are looking for a broker with a decent offering, opportunities to trade in investment funds, and other options, NordFX may be the broker you might consider.
|Established: 2008||Website: https://nordfx.com/|
|Address: Pot 805/103 Rue D'Auvergne, Port Vila, Vanuatu||Minimum to Open Live:minimum deposit is $10 for Fix account, $250 for Pro and $500 for Zero|
|Regional Offices: -||Regulators: : VFSC|
|Minimum Trade Size: 0.01||Prohibited Countries: USA, Canada, EU, Cuba, Sudan, Syria, and North Korea|
|Maximum Leverage: 1:1000||ECN: Yes|
|Mobile Trading: Yes||Currencies: Accounts in USD, Bitcoins and Ethereums|
|Trading Platforms: https://nordfx.com/platforms.html||Cryptocurrencies: -|
|Robots: Yes||CFD: Yes|
|Scalping: Allowed||Web Trading: No|
|Deposit Methods: https://nordfx.com/deposit-withdrawal.html||Withdrawal Methods: : https://nordfx.com/deposit-withdrawal.html|