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NordFX Broker Review

NordFX is an international company founded in 2008. Over the years, the broker has been awarded more than 50 prestigious awards and various awards. In 2020, NordFX won the “Best Platform for Central Asset Accounts” award. Earlier that year, its affiliate program won this award, as well as a social trading platform award.

Broker status: Regulated
Regulated by: CySEC, VFSC
Blacklisted as a Scam by: CMVM
Owned by: NFX Capital CY Ltd / NFX Capital VU INC
Headquarters Country: Cyprus / Vanuatu
Foundation year: 2013
Supported Platforms: MT4, web trader
Minimum Deposit: $10
Cryptocurrencies: Yes
Types of Assets: FX, commodities, indices, shares, cryptocurrencies
Maximum Leverage: 1:1000
Free Demo Account: No
Accepts US clients: No

NordFX operates in almost 190 countries and has more than 1.25 million trading accounts. The company offers services for active and passive trading in the Forex market. The company operates under the jurisdiction of the British Virgin Islands.

Types of accounts

NordFX offers a variety of trading accounts, each of which has its own characteristics designed for every customer’s taste. These trading accounts will either teach you how to trade, giving you the basics of trading, or allow you to make trades.

NordFX offers two trading accounts without commission, Fix and Pro, one alternative commission account, Zero, and DeFi savings account. On the Fix account spreads will be higher, starting from 2.0 points or $20 per lot. However, this requires a minimum deposit of $10. For $250 traders get access to Pro, but I highly recommend Zero, which requires $500.

The demo account

As the name implies, this account was created to demonstrate how trade is carried out, as well as other concepts. This account is intended primarily for new customers who have no idea how to trade and who do not wish to place their funds on other accounts for trading purposes. The account uses virtual tools to train the client to trade.

Savings

The broker also offers a savings account based on DeFi technology. The investment solution can be used to obtain a passive income of up to 30% per annum. As part of the terms of the account, clients can take a loan at an interest rate of 3%, which is deducted from the investment income. The account can be filled up with the world’s leading stable coins – USDT, DAI and USDC.

The minimum investment amount is $500 and payments are made daily.

Trading Instruments and Platforms

NordFX serves 33 currency pairs, 11 cryptocurrency paires, 4 commodities, 6 index CFDs, 68 stock CFD and 5 investment funds. NordFX is ideal for scalpers who need the most liquid assets with narrow spreads. High-frequency traders can also benefit from the NordFX trading environment if they apply a targeted trading strategy.

NordFX provides traders with a ready-made MT4 trading platform, as well as a multi-terminal MT4 for PAMM accounts. MT4 is available as a desktop client where it remains the leader for algorithmic trading. It also has a built-in copy trading platform. It would be good if NordFX offered traders such necessary plugins to further stand out from its competitors.

Mobile trading app is also available.

Regulation and Security

NordFX is a brand owned by NFX Capital CY Ltd from Cyprus, regulated by CySEC. However, the company has another entity in Vanuatu, NFX Capital VU INC, regulated by VFSC.

Fund Deposit

NordFX does not charge a fee for input and withdrawal, but charges for third-party payment processor services. All requests are handled by the Trader’s Office, a secure NordFX back office. Traders must withdraw the initial deposit using the same method that was used to replenish the account, but they can use any payment method to process the withdrawn profits.

Several payment options are available on NordFX. Users of the platform can transfer funds directly to their accounts, use credit or debit cards, and various other ways. 

of online payments.

We can recommend NordFX broker to any type of traders. NordFX is a stable broker with over 1,500,000 accounts from more than 190 countries. This broker is regulated in three jurisdictions and provides four trading accounts. A regulated broker is a more responsible trading environment. You can also expect a more guaranteed safety of funds, as some regulations in the financial industry require a compensation scheme in case of unprecedented incidents that result in financial losses for clients.

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