NordFX is an internet brokerage firm that has been around since 2008. More than 1.7 million accounts have been opened on the site in 190 countries since the company’s start.
Clients can trade cryptocurrencies, currency pairs, indices, and stocks on the platform. Unlike many of its competitors, it also provides investment management services. In Europe, Bangladesh, China, Thailand, India, and Sri Lanka, the corporation has several subsidiaries. The Vanuatu Financial Services Commission has approved the company.
The broker employs the well-known MetaTrader 4 platform. For individuals who are new to investing, the terminal is easy and intuitive. Options for managed funds or automated investments are readily available and require little adjustment.
More experienced traders are not limited by the user-friendly interface. If customers desire more control and comprehension of their investment selections, there is the enhanced capability for deepening as well as a large range of data and charts available for analysis.
Multiterminal MT 4
An MT4 multi-terminal is also available from the broker. This is a good option for investors who want to manage many accounts at the same time. The terminal has the same functionality as the original MT4 platform and allows for manual or automatic trading volume distribution for each account. Additionally, strengthened security ensures that data transmissions are secure.
Markets and assets
Financial instruments, asset classes, and markets are all available through the broker. They include 33 currency pairs, 11 cryptocurrencies, gold, silver, and oil, among other things. In addition, CFDs in the form of five indices and 68 equities are available to trade.
Unlike many other brokers, the company’s PAMM account also includes investment management services (Interest Allocation Management Module). The PAMM manager puts up their own money in addition to the money of the investors, giving the client an extra degree of security.
Please be aware that the firm does not offer binary options.
Spreads and Commissions
The spreads are small, starting at 0.0 pips. They stay competitive by outsourcing trades to a third-party liquidity provider, which helps save expenses associated with high trading volumes.
Except for Zero Account (which starts at 0.0035 percent per trade for each party) and cryptocurrency (which costs 0.06 percent), there are no fees. The average annual percentage fee for using a savings account is 3%.
The withdrawal cost is something to bear in mind. The exact amount is determined by the mode of money transfer (for example, online payment systems, digital wallets, or bank transfers).
For mobile users, the MT4 application is available. This is accessible for both iOS and Android, albeit the functionality is limited in comparison to the PC version.
The broker’s custom-designed APK mobile trading program is also available to clients. It enables full account administration, rapid fulfillment, and a variety of order types and is available for free download on the individual app stores. Technical analysis and price alerts are still possible for mobile traders. For individuals who wish to keep up with the financial markets while on the go, the app is a terrific option.
How to fund your trading account with NordFX
Payment can be made in a variety of ways. Users can deposit money directly into their accounts, pay with credit or debit cards, or use a variety of other online payment options. The same options as for deposits are used for withdrawals. However, depending on the withdrawal choice, it could take anywhere from 1 to 6 business days.
Users can create a demo account with $10,000 in virtual currency before proceeding to open a genuine account. A free paper trading account can assist investors in becoming familiar with the interface, learning the platform, and determining the markets they are interested in. Users can get help 24 hours a day, seven days a week, and compete in the DemoCup event for a $42,000 prize pool.
Regulation and licensing
The Vanuatu Financial Services Commission has granted the company a license (VFSC). In comparison to a more stringent governing organization like the FCA, the requirements are quite lax. This does not, however, imply that NordFX is a risky or unreliable platform; orders can be processed in less than half a second while being completely secure.
Many extra features are available to entice potential users. On their website, they have a thorough education section with a learning center and a glossary to help investors understand how financial markets function and make better investing decisions.
An economic calendar, a currency converter, a profit calculator, and a variety of additional tools for in-depth study are also available from the company. One of the best aspects of the projection is an in-house analyst’s weekly review of various financial markets.
From novices to seasoned traders, there are three sorts of accounts for different marketplaces. Investors can choose from three types of accounts: fixed, professional, or zero. There is a minimum lot size of 0.01 and a limit of 100 open positions or pending orders for all accounts.
- 28 different currency pairs.
- No commission
- 1:1000 Leverage
- Spreads start at 2 pips.
- A minimum deposit of $10 is required.
- citation precision within four digits
- 33 different currency pairs.
- No commission
- 1:1000 Leverage
- Spreads start at 0.9 pips.
- A $250 deposit is required.
- 5 digits with an accuracy of
- 33 currency pairs.
- 1:1000 Leverage
- Spreads start at 0.0 pips.
- A $500 minimum deposit is required.
- 5 digits of citation precision
- Interbank liquidity is available (ECN).
- The commission rate begins at 0.0035 percent (per side).
Countries that NordFX works with
The firm accepts traders from:
- Great Britain;
- South Africa;
- Hong Kong
- United Arab Emirates;
- Saudi Arabia;
- Qatar and most other countries.
NordFX can be reached by web chat (the logo is at the top of the page), different social media sites, or email at firstname.lastname@example.org.
Customer service is provided 24 hours a day, seven days a week, and there is a tiny FAQ area on the broker’s website. They will be able to answer any questions you may have.
If you need to reach them, they can be reached at Pot 805/103, Rue D’Auvergne, Port Vila, Vanuatu.
For potential investors looking into online brokerage platforms, NordFX is a terrific option. They have an established track record and offer a wide range of asset classes to trade, as well as a fully functional demo account and excellent customer service. Additional elements (such as in-depth market analysis and investor education) provide the organization with a competitive advantage. The commission charges are also reasonable.