NordFX Review

Unique Selling Points

• Competitive trading conditions: NordFX offers some of the most competitive trading conditions in the industry, with tight spreads starting from 0 pips and leverage up to 1:1000. These conditions make it an attractive option for traders who are looking to maximize their profits while minimizing their trading costs.

• Diverse asset offerings: NordFX offers a wide range of trading assets, including over 60 currency pairs, indices, commodities, and cryptocurrencies. This variety allows traders to diversify their portfolios and potentially take advantage of market opportunities across different asset classes.

• Multiple trading platforms: NordFX offers multiple trading platforms, including MetaTrader 4, MetaTrader 5, and the proprietary NordFX Trader platform. Each platform has its unique features and benefits, so traders can choose the one that best suits their needs and preferences.

• Social trading: NordFX offers ZuluTrade, a social trading platform that allows traders to follow and copy the trades of experienced traders. This feature can be particularly beneficial for beginner traders who are still learning how to trade and want to gain exposure to the strategies and techniques of more experienced traders.

Introduction

NordFX is a leading online Forex and CFD broker that has been in operation since 2008. With its headquarters in Port Vila, Vanuatu, and offices in several other countries, including India, China, and Thailand, NordFX has established a global presence. 

As a broker, NordFX provides traders with a wide range of trading assets, including Forex, indices, commodities, and cryptocurrencies. The broker offers multiple trading platforms, including MetaTrader 4, MetaTrader 5, and the ZuluTrade social trading platform. 

NordFX is also accessible via mobile devices and supports iOS and Android operating systems. With these features, NordFX.com is a versatile broker that caters to traders of different levels and preferences.

NordFX is committed to transparency and security, and as such, the broker is regulated by several authorities, including the Vanuatu Financial Services Commission (VFSC) and the Cyprus Securities and Exchange Commission (CySEC). NordFX also maintains segregated accounts for client funds and uses encryption technology to secure its website and platforms. 

Overall, this NordFX broker review finds that NordFX.com is a reputable broker that offers competitive trading conditions and diverse asset offerings.

Supported Countries

NordFX supports clients from various countries worldwide, except for some restricted regions such as the USA, Japan, Canada, and several others. The broker caters to a diverse clientele and provides multilingual customer support in English, Chinese, Arabic, Bengali, Hindi, Indonesian, Malay, Farsi, Portuguese, Russian, Spanish, Thai, and Urdu.

Apart from its multilingual support, NordFX also provides localized versions of its website and trading platforms, making it easier for clients from different regions to access its services in their preferred language. This enhances the user experience and helps clients feel more comfortable trading with NordFX.

Whether you are a beginner or an experienced trader, NordFX provides an accessible and user-friendly trading environment to help you achieve your investment goals.

Customer Service Rating

NordFX has a customer service rating of "excellent", with a score of 3.9 out of 5 based on 14 reviews on Trustpilot. The majority of users praised the broker's prompt and efficient customer support through various channels such as phone, email, and live chat. The support team was also commended for their professionalism and helpfulness in resolving issues and answering queries.

Some users reported experiencing slight delays in processing withdrawal requests, but overall, NordFX was deemed reliable in terms of transaction processing. 

NordFX Trading Platforms

NordFX provides its clients with a range of powerful trading platforms to suit their individual trading needs. These platforms include the popular MetaTrader 4 (MT4), MetaTrader 5 (MT5), and the broker's proprietary NordFX Trader platform.

• MetaTrader 4: MetaTrader 4 is the most widely used trading platform globally, providing advanced charting tools, automated trading capabilities, and a user-friendly interface. It also supports multiple order types and allows traders to customize their trading strategies using technical indicators and expert advisors.

• MetaTrader 5: MetaTrader 5 is an upgraded version of MT4, providing advanced trading tools and features such as more charting options and the ability to trade on exchange-traded products like stocks and futures. It also includes a built-in economic calendar, providing traders with real-time updates on important economic events that may impact the market.

• NordFX Trader: NordFX Trader is the broker's proprietary trading platform, designed to provide traders with a user-friendly interface, advanced trading tools, and features such as one-click trading, multiple order types, and customizable trading strategies. It is also available in desktop and mobile versions, allowing traders to trade on the go.

Type of Trading Accounts on NordFX

• Unlimited Demo Accounts: NordFX provides unlimited demo accounts for traders to practice and improve their trading skills. These accounts are free and enable traders to trade in a risk-free environment without risking their own money. Demo accounts are essential for novice traders who want to learn the ropes of trading before investing real money. NordFX offers demo accounts on all its platforms, including MT4, MT5, and the proprietary NordFX Trader.

• Standard Accounts: NordFX's standard accounts are designed for traders who want to trade in forex, precious metals, and cryptocurrencies. The minimum deposit required for a standard account is $10, and the maximum leverage is 1:1000. Standard accounts provide access to all of NordFX's trading platforms, including MT4, MT5, and NordFX Trader. The spreads for standard accounts start at 0.5 pips.

• ECN Accounts: NordFX's ECN accounts are designed for advanced traders who want direct access to the interbank market. ECN accounts provide the best possible trading conditions, with spreads as low as 0 pips and ultra-fast execution speeds. The minimum deposit required for an ECN account is $1,000, and the maximum leverage is 1:100. NordFX offers ECN accounts on MT4 and MT5.

• STP Accounts: NordFX's STP accounts are designed for traders who want to trade with no dealing desk intervention. STP accounts provide fast and reliable order execution and tight spreads starting from 0.5 pips. The minimum deposit required for an STP account is $10, and the maximum leverage is 1:1000. NordFX offers STP accounts on MT4 and MT5.

• Swap-Free Accounts: NordFX's swap-free accounts are designed for traders who follow Islamic finance principles. These accounts are also known as Shariah-compliant accounts and do not charge any rollover fees for holding positions overnight. The minimum deposit required for a swap-free account is $10, and the maximum leverage is 1:1000. NordFX offers swap-free accounts on MT4 and MT5.

• VIP Accounts: NordFX's VIP accounts are designed for high-net-worth individuals and institutional traders who want personalized trading conditions. VIP account holders can access special trading conditions like lower spreads and higher leverage. The minimum deposit required for a VIP account is $50,000, and the maximum leverage is 1:100. NordFX offers VIP accounts on MT4 and MT5.

• Micro Accounts: NordFX's Micro accounts are designed for traders who want to trade with small amounts of capital. The minimum deposit required for a micro account is $10, and the maximum leverage is 1:1000. Micro accounts provide access to all of NordFX's trading platforms, including MT4, MT5, and NordFX Trader. The spreads for micro accounts start at 2 pips.

Trading Denominations on NordFX

NordFX offers a variety of base currencies for their trading accounts. There are a total of 5 base currencies available to choose from; USD, EUR, RUR, GBP, and Bitcoin. This allows traders to choose the currency that best suits their needs and preferences.

For those who prefer to trade with US dollars, the USD base currency is the most common and is available for all account types. The EUR base currency is also a popular choice, particularly for those who are trading in Europe. The RUR base currency is ideal for traders in Russia and the surrounding regions, while GBP is the go-to for traders in the UK.

For traders who are looking for more unconventional options, NordFX also offers Bitcoin as a base currency. This particularly appeals to those interested in trading cryptocurrency and wanting to keep their funds in Bitcoin.

Company Structure

NordFX was established in 2008 and is a forex and CFD broker that provides online trading services worldwide. The company headquarters is in Port Vila, Vanuatu. and is regulated by the Financial Services Commission of Mauritius (FSC). NordFX has a subsidiary in India and several representative offices in different parts of the world, including China, Indonesia, Malaysia, Nigeria, Thailand, Vietnam, and Russia.

The company has a team of experienced professionals in the financial and technology industries, with trading, investment, and risk management expertise. NordFX offers a range of trading instruments, including over 40 currency pairs, precious metals, cryptocurrencies, and commodities. The broker operates on a non-dealing desk (NDD) model, which allows for faster execution and tighter spreads.

NordFX is committed to providing its clients with the best possible trading experience by investing in cutting-edge technologies and continuously improving its services. The company has won several awards for its excellent customer service and innovative products, including the "Best Forex Broker in Asia" and "Most Trusted Broker" awards. NordFX also provides educational resources and market analysis to help traders make informed decisions.

NordFX Customer Protection

NordFX has taken significant measures to ensure the safety of its client's funds and data. They operate under the regulation of the Vanuatu Financial Services Commission (VFSC) and are a member of the Financial Commission (FinaCom). FinaCom provides a neutral third-party dispute resolution service for NordFX clients in case of any disputes.

In terms of security, NordFX uses SSL encryption on its website to protect clients' data and transactions. Additionally, they have implemented two-factor authentication for all account logins, ensuring that only authorized individuals have access to the account.

Moreover, NordFX segregates clients' funds from their own, ensuring that the client's funds are not used for any operational expenses or other purposes. In case of bankruptcy, clients' funds will not be used to pay the company's creditors.

Trading Information

NordFX provides comprehensive trading information to traders on their website, which includes daily market analysis, trading signals, an economic calendar, and a trading calculator. 

The daily market analysis section includes technical and fundamental analysis, market news, and market reviews. The trading signals section provides traders with trading recommendations generated by a team of experienced analysts. The economic calendar section shows the dates and times of upcoming economic events that can impact the markets.

In addition, NordFX offers a trading calculator that helps traders calculate potential profits, losses, and margin requirements for their trades. The calculator takes into account the currency pair being traded, the trade size, and the leverage used. It also provides a breakdown of the required margin, the pip value, and the potential profit or loss.

Tradable Instrument

• 50 currency pairs, including majors, minors, and exotics.

• 11+  Cryptocurrencies

• 70+ stocks  

• Trading on global stock market indices such as S&P 500, NASDAQ, and Nikkei 225.

• Commodities - Gold, silver, platinum, palladium, copper, crude oil, and natural gas.

• 20 Exchange Traded Funds tracking indices, sectors, and themes.

NordFX Markets Leverage

NordFX offers its clients a high-leverage option, which allows them to take advantage of trading with a smaller initial deposit. The maximum leverage offered by NordFX varies depending on the account type and the instrument traded, with a range from 1:1000 for forex to 1:100 for precious metals and cryptocurrencies. 

Traders should be aware that higher leverage magnifies both potential profits and losses. It's essential to have a solid understanding of leverage and the risks involved before trading with high leverage. 

Deposit and Withdrawal

Deposit

NordFX offers its clients a variety of secure and convenient deposit methods. Traders can deposit funds into their NordFX account using bank wire transfers, credit/debit cards, online payment systems, and cryptocurrencies. 

The minimum deposit amount is $10 for Micro and Standard accounts and $100 for Pro and Zero accounts.

Withdrawal

Withdrawals at NordFX are processed through the same payment methods as deposits. The withdrawal request is usually processed within 24 hours during business days. Withdrawals through credit/debit cards and online payment systems are usually processed instantly, while bank wire transfers may take 3-5 business days.

NordFX Trading Education and Training

NordFX's trading education resources are comprehensive and valuable for traders at all levels. The broker provides video tutorials, webinars, and trading guides covering various topics, from the basics of forex trading to advanced trading strategies. These educational resources are available to all clients, regardless of their account type.

One of the standout educational resources offered by NordFX.com is its trading signals service. The broker provides free trading signals generated by a team of experienced analysts. These signals can be used to make informed trading decisions and identify profitable trading opportunities.

NordFX also provides a demo account for new traders to practice trading in a risk-free environment. A demo account is an excellent tool for learning to trade and test new strategies without risking real money. NordFX's demo account is unlimited, allowing traders to practice for as long as they need to feel comfortable with the trading platform and their trading strategies.

FAQs

Is NordFX a scam?

Based on multiple NordFX reviews and its regulatory compliance, there is no indication that NordFX is a scam. 

How do I open a NordFX forex trading account?

To open a NordFX forex trading account, visit the NordFX website 

Conclusion

NordFX is a well-regulated and reputable forex broker with over a decade of experience in the industry. Its user-friendly trading platforms, multiple account types, and extensive range of tradable instruments make it an attractive choice for beginner and experienced traders. 

The company offers competitive spreads and leverage up to 1:1000 and allows traders to use various trading strategies, including automated trading. 

NordFX also prioritizes customer protection, with segregated client accounts and membership in the Financial Commission. Its deposit and withdrawal options are convenient and flexible, with various payment methods available. 

However, traders should note the high commission fees for some account types and the limited educational resources. The point here is that NordFX is a trustworthy option if you seek a reliable and diverse trading experience.