NordFX Information
NordFX is a forex broker that offers currencies, commodities, shares & indices, and cryptocurrencies for your personal investment and trading options. It was established in 2008 and is registered in Vanuatu. NordFX provides online trading platforms and free training. The MetaTrader platforms also provide automated trading and market signals. However, it currently does not have any valid regulation.
Pros & Cons
NordFX offers a wide range of financial instruments, providing traders with diverse trading opportunities. The availability of MetaTrader 4/5 across multiple devices enhances the convenience and accessibility of trading.
However, it is important to note that NordFX is an unregulated broker, which introduces higher risks to traders, especially regarding fund management and security. There have been reports of withdrawal issues, indicating potential challenges in this area.
NordFX Alternative Brokers
There are many alternative brokers to NordFX depending on the specific needs and preferences of the trader. Some popular options include:
- IC Markets - Best broker on the market with fast support and flawless spreads and order execution.
- Roboforex - Fast money deposit and withdrawal with similar spreads and commission for Forex and gold as other brokers but on stocks roboforex is King.
- AvaTrade - Good trading conditions overall with multiple CFD trading instruments and high number of forex pairs.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
Is NordFX Legit?
NordFX currently has no valid regulations.
It is important to note that trading with an unregulated broker can be risky as there is no guarantee that the broker will act in the best interest of the trader. Regulated brokers are required to follow strict rules and regulations which are designed to protect traders from fraudulent activities.
Market Instruments
NordFX provides a diverse range of market instruments for traders to choose from, including currencies, commodities, shares & indices, and cryptocurrencies.
Account Type
NordFX provides traders with a variety of account options to suit their individual needs. They offer demo accounts, allowing traders to practice their strategies and familiarize themselves with the trading platform without risking real money.
For live trading, NordFX offers three main account types: Fix, Pro, and Zero. The Fix account has a low minimum deposit requirement of $10, making it accessible to traders with smaller capital. The Pro account requires a minimum deposit of $250 and provides additional features and benefits, such as lower spreads and access to a broader range of trading instruments. The Zero account, with a minimum deposit of $500, is designed for more advanced traders who require tight spreads and direct market access.
Leverage
NordFX offers traders competitive leverage options, allowing them to amplify their trading positions. With leverage of up to 1:1000, traders can control larger positions in the market with a smaller amount of capital. This high leverage enables traders to potentially generate higher profits from successful trades.
However, it is important to note that while leverage can magnify profits, it also increases the risk of losses. Traders should exercise caution and carefully manage their risk when utilizing high leverage.
Spreads & Commissions
NordFX offers competitive spreads and commissions across its different account types. The Fix account has a spread starting from 2 pips, making it suitable for traders who prefer fixed spreads. The Pro account offers a tighter spread starting from 0.9 pips, appealing to traders who seek lower transaction costs. However, it's important to note that the Zero account stands out with a spread starting from 0.0 pips, providing traders with the potential for better pricing and reduced trading costs.
While the Fix and Pro accounts do not charge any commissions, the Zero account requires a commission of 0.0035% per trade on each side.
Trading Platform
Both the industry-leading MT4 and MT5 platforms are available at NordFX.
See the trading platform comparison table below:
Deposit & Withdrawal
NordFX accepts payments via Bank Transfer, Bank Cards, Online Payment Systems, Online Exchange Services, and Internal Transfer.
Base Currencies:
USD, EUR, CNY, IDR, GBP, VND, THB, PHP
NordFX minimum deposit vs other brokers
The minimum deposit requirement is set at a low amount of $10, making it accessible for traders of different levels.
Most deposits are free of charge and processed instantly, allowing traders to quickly start trading. Withdrawals are typically processed within 1 business day, ensuring efficient access to funds. However, it's important to note that withdrawal fees may vary depending on the chosen withdrawal method.
Education
NordFX provides a range of educational resources to support traders in their journey. They offer comprehensive information and resources on various topics, including Forex trading, through their dedicated Forex section. Traders can access a glossary that helps them understand key trading terms and concepts. Additionally, NordFX has a learning center that offers educational materials, tutorials, and guides to enhance traders' knowledge and skills. They also provide useful articles that cover market analysis, trading strategies, and other relevant topics.
Conclusion
In conclusion, NordFX offers a wide range of financial instruments, competitive trading conditions, and multiple trading platforms, making it an attractive choice for traders. However, it is important to note that NordFX is an unregulated broker, which may raise concerns regarding the safety of funds and overall credibility. Traders should exercise caution and carefully evaluate the associated risks before deciding to trade with NordFX. It is recommended to conduct thorough research, seek additional information, and consider alternative regulated brokers that provide stronger regulatory oversight and investor protection.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
Turkey
mjiaq
Hong Kong
I performed transactions on this platform and earned $2800 in profits. I applied for a withdrawl and they refused it, citing overly aggressive trading practices. They also froze my trading account. Currently, I am unable to resolve the issue with the customer service.
Exposure
2023-06-07
源源
Hong Kong
It is said that the payment channel has been changed. I don’t know how long it will take to get to the account. It has been almost 40 days since I applied for a withdrawal.
Exposure
2022-11-08
jklin
Hong Kong
I started trade from September but could not withdraw without personal taxes. Beware of this cases.
Exposure
2021-10-26
洁洁
Hong Kong
Was it a fraud platform?
Exposure
2021-09-16
FX8029238142
Hong Kong
Unable to withdraw!
Exposure
2021-07-16
FX2142961960
Vietnam
Forced Liquidation
Exposure
2021-07-14
Mayaz Ahmad
Bangladesh
A client of NORDFX has complained that $13000 has disappeared from his account and when he emailed this issue to NORDFX, they did not respond. He advised others not to invest in NORDFX as their behaviour is unprofessional.
Exposure
2021-06-05
【道源】聚成
Hong Kong
And they don’t reply to my messages. Do not be cheated.
Exposure
2021-05-17
FX2967071030
Taiwan
up.nord2008.com Website of this broker (disabled now) And the staff here don’t reply to me after reading my messages.
Exposure
2021-02-25
中子
Hong Kong
NORDFX induces u to deposit funds. But you can;t withdraw funds for wrong bank card number and margin. I hope investors can bewar of NORDFX. You can't withdraw fund here!
Exposure
2020-12-19
砥砺前行78490
Hong Kong
The platform gives no access to withdrawal with grinding excuses, asking for margin. I have called the police. Hope governmental department stop it from engaging illegal activities.
Exposure
2020-03-01
随玉而安
Hong Kong
The scam forex platform, using facade bank account as regulatory account, said that my bank card number was wrong and asked for a varied fee including margin and individual tax. Then your fund is doomed since it has bee pocketed by the platform.
Exposure
2020-02-26
随玉而安
Hong Kong
Those scam platforms all have the same routine, changing a name and continuing to deceive clients. I have called the police. Now their websites are prohibited.
Exposure
2020-02-19
高玉海
Hong Kong
Though I fulfilled all withdrawal requirements, the platform gave no access to my fund. Without any explanation, it acts in a perfunctory manner.
Exposure
2020-01-10
高玉海
Hong Kong
Unable to withdraw the profit in NORDFX .
Exposure
2020-01-03
砥砺前行78490
Hong Kong
I even couldn’t log in to the APP of scam NORDFX , nor could I download again. I will keep making exposure on you until I receive the fund. I have called the police!
Exposure
2020-01-02
砥砺前行78490
Hong Kong
The withdrawal was refused.The customer service asked me to pay $5000 margin to modify the bank information,which was a scam.
Exposure
2019-11-14
FX3869332650
Hong Kong
When I made a withdrawal,I was asked to pay a margin.Then they declined my request with the excuse of inadequate credit score and froze my fund.
Exposure
2019-10-29
ლLiquorლ
Hong Kong
NORDFX asked me to deposit more after I earned a little. But they won’t let me withdraw, using some margin, credit point things to delay me.
Exposure
2019-10-15
Spike
Hong Kong
Recently, I came across a fake platform pretending to be NordFX, an old platform. The scammer used the pictures of beautiful women and high profits as a cover to cheat his way into the game.Fortunately, tact confirmed with NordFX's pan> before revealing the hoax.Foreign exchange brokerages are generally used MT4/MT5 platform trading, to remind investors.
Exposure
2019-10-11