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NordFX is an online brokerage brand for international traders, managed and founded by NFC Capital Vu Inc. which is a Vanuatu and Cyprus registered company. It is offering several accounts that may suit the varying needs of traders, it requires low minimum deposits, it provides demo accounts, and it supports MT4. For this reason, NordFX caught the attention of many traders worldwide. Find out more about this international Forex broker and see if it is a safe place to trade.
The Trading Platform of NordFX
For those people who are looking to trade in a comprehensive trading platform, NordFX is the ideal place for you. It is an all in one trading platform that integrates MetaTrader 4 & 5, which is a popular platform utilized by most online brokers today.
MT4 and MT5 comes with a simple interface that anyone can learn to use easily. The platform comes with very accessible options for automated investments and managed funds that only require little customization to implement. Its interface is also limitless that meets the needs of experienced traders. But it also features enhanced functionality levels to learn and an array of charts and data to analyze if the user wants to have more control and monitor their investment decisions.
Markets and Assets
NordFX comes with an array of asset types, financial instruments, and markets available for all users to trade. It includes thirty-three currencies and four particular cryptocurrency indices. It also has fourteen cryptocurrency pairs and a spectrum of commodities. NordFX also offers managed investment services, which is something that other brokers don’t have.
Compared to other popular brokers, NordFX is not regulated by FCA nor within ESMA. It means that the leverage it offers is incredibly high, despite that it varies depending on the asset class a trader is in. The leverage of NordFX reaches up to 1:1000. Although many experienced traders can take the risk of this high leverage limit, new investors can be a little cautious when it comes to the amount they might lose.
The reason why many traders lose money is that they often overlook their current position. And since NordFX comes with such high leverage, traders have to be more careful when trading.
Spreads and Commission
Other than having high leverage, NordFX also has an incredibly tight spreads with its 0.0 pips. All traders remain competitive by outsourcing their trades with a third-party liquidity provider, which allows them to keep the cost minimal due to the large trading volume.
The advantage of trading with NordFX is it does not collect a commission on the majority of trades. But take note that fees are charged upon the withdrawal of funds depending on the method used such as digital wallets, bank transfer, and E.G. online payment systems.
The Payment Method Of NordFX
Traders can choose from several payment methods when using NordFX. To fund an account and withdraw, traders can do it via bank transfer, bank cards such as Visa and MasterCard, and Online Payment Systems like Skrill, WebMoney, QIWI, NETELLER, Perfect Money, PayToday, NganLuong, and Yandex.Money.
Bonus & Promotions
NordFX traders can get a bonus by simply referring to a friend. When a trader refers a friend to NordFX, and that person opens an account and fund it, the referrer will get 10% of the deposit. Just fill up a simple form on NordFX’s website to refer a friend.
Aside from that, traders can also get up to a 55% bonus when they deposit a specific amount. For example, when you deposit $100 and more, you can get $55. If you deposit $200 or more than that, you can get up to $110. If you want to reach up to $4400, you have collected about $8000 and above.
NordFX Mobile Applications
Since this Forex broker utilizes MetaTrader 4 and MetaTrader 5, expect that NordFX is accessible. You can download this multifunctional utility in different platforms such as Android, iOS, macOS, and Windows. Its Mobile version, on the other hand, is not as comprehensive as the desktop version.
Pros And Cons Of NordFX
Among the advantages of this Forex broker is its long track history with 2008 as the oldest. It also integrates two reliable trading platforms, namely MT4 and MT5, and provides managed investment services.
For its cons, NordFX does not feature an investment protection scheme. It is also regulated by VFSX & SEBI, which are not included in the list of the most stringent regulations available today.
Safety & Security Of Using NordFX
When it comes to safety and security, NordFX is a reliable and safe broker in the angel of operation. Its traders are processed under only half a second, which is incredibly fast for a platform, and its UI is comprehensive and straightforward. It also comes with an efficient and robust server that delivers excellent service for all frequent, professional traders worldwide. To protect the money of the traders, NordFX imposes stringent internal regulations.
Most countries can trade with NordFX, including Australia, Canada, United Kingdom, Thailand, Singapore, South Africa, France, Hong Kong, South Africa, Germany, Sweden, Italy, and India. People in the United States, on the other hand, are not able to trade with NordFX.
NordFX is a promising Forex broker, having several awards from different organizations. It comes with a reliable platform, but it also has some disadvantages that other traders will choose to avoid.