NordFX Review – Online platforms, Commission, Leverage, Account Types, Features & moreLast Updated Date: Apr 30, 2022
Know everything about NordFX, a well-known Forex broker based out of Vanuatu.
In this article, we will take you through in detail NordFX Review, its brokerage, leverage, account types, trading platforms, Apps & more.
Let’s get started.
About NordFX & Accepted Countries
NordFX, owned by Capital Vu inc, founded in 2008 and had its registration in Vanuatu. But, the brand operates out of Cyprus.
A company named NFX Capital CY Ltd does that. It allows NordFX to sell its services in Europe. This Company allows the outsourcing of client orders to a liquidity provider, which is external.
It has been delivering service to over 1200000 clients from more than 100 countries. The company consists of three independent subsidiaries.
With time, it is adding various services. It is improving its trading environment and providing better services to its clients.
|Founder / CEO||Abhishek Ranjan|
The broker is also dealing with the management of assets using a variety of funds.
NordFX accepts traders from most countries but not from the United States of America. There are traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Qatar, and most other countries as well.
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NordFX Account Opening Process
To open an account with NordFx, all you need to do is click on the open account button. It is on the website of the broker itself.
Once you click on it, it will direct you to another website. You need to provide all details such as name, phone number. Other basic information is also asked, which includes the type of account.
Once done, you need to give permission to accept the terms and conditions. This opens another page.
You can download Relevant platforms for trading from here. You can make deposits and withdraw funds.
One can also access advanced trading features. You need to very the identity and address by uploading the asked documents.
NordFX Trading Platforms
MetaTrader4 is an available platform for trading. Other brokers already use it and are reliable. It is understandable, and navigation through it can happen. There is Easiness in managing funds.
Automated investments can be easily acquired, and it does not need much customization. There are different levels of functionality. It is easy to explore and understand.
A wide variety of data and charts are accessible for the entire trade analysis. It is also suitable for advanced traders.
Traders who need advanced trading options can use it. They have more control over the decisions of investments made by them.
|Desktop Platform – Windows||Yes|
|Desktop Platform – Mac||Yes|
|Desktop Browser Platform||Yes|
|Mobile Site Platform||Yes|
|Android App Platform||Yes|
|iOS App Platform||Yes|
|Windows App Platform||No|
|Other Mobile OS Platform||No|
|Trading Platform Supported Languages||Afrikaans, Albanian, Arabic, Azerbaijani, Bengali, Bosnian, Brazilian, Bulgarian, Chinese, Croatian, Czech, Danish, Dutch, English, Estonian, Farsi, Filipino, Finnish, French, Georgian, German, Greek, Hebrew, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Latvian, Lithuanian, Malaysian, Multi-Lingual, Norsk, Norwegian, Norway, Polish, Portuguese, Punjabi, Romanian, Russian, Serbian, Slovak, Slovenian, Spanish, Swedish, Tagalog, Taiwanese, Tamil, Thai, Turkish, Ukrainian, Urdu, Vietnamese|
NordFX Mobile App
Even for mobile applications, the MetaTrader 4 platform is popular throughout the industry. It is more acceptable because of its easy usage. There are many purpose and multifunctional tools that it provides.
It is available on both IOS and android. Though, there might be some differences in the functionality if compared to the desktop version.
Check out Mobile Apps of more Forex Brokers
NordFX Commission or Brokerage or Fees
The spreads that are payable on the trading pair are low. NordFX operates as an ECN broker, and sometimes it might be as low or close to zero. But, this is dependent on the asset type that is being traded along with the kind of account.
A discount on the commission is available when trading more than one thousand lots are done. A standard swap fee is also charged at times.
A commission on the position size is payable, which is set at 0.005% of the nation of the trade. There are fees charged on the cryptocurrency too.
|Commission on trades||Yes|
NordFX Exposure or Leverage
NordFX, like many other brokers that are popular, isn’t regulated within ESMA or by the FCA. Hence, the leverage amount offered isn’t very high.
Variations are observable depending on the set of classes for which a rate of 1:1000 is provided. The experienced traders may see a high leverage limit, but for the new ones, the limit has been on the downside.
Overextending of position might lead to a loss of money in the case of new traders. High leverage might enable us to do.
|Maximum Leverage||Up to 1:1000|
Payment Methods offered by Nord FX
Many payment methods are available at NordFX. With the use of debit or credit cards and other online payment methods, the users can send funds into the accounts.
Similar payment methods are available for withdrawal. But, they are dependent on the choice about how long a time it will take before the money is available in an account.
It takes something between one to six business days to do that.
|Deposit Options||Credit Card, Cryptocurrencies, FasaPay, Moneybookers, Neteller, Ngan Luong, OKPay, Payza, PerfectMoney, QIWI, Skrill, Webmoney, Wire Transfer, Yandex.Money|
|Withdrawal Options||Credit Card, Cryptocurrencies, FasaPay, Moneybookers, Neteller, Ngan Luong, Payza, PerfectMoney, QIWI, Skrill, Webmoney, Wire Transfer, Yandex.Money|
Find out Payment Methods provided by other Forex Brokers
Investment in Asset Classes or Markets by NordFX
There is a wide variety of Financial instruments, types of assets, and markets. This broker NordFX has a lot to offer for trading. This comprises 33 pairs of currency.
Eleven pairs of cryptocurrency, silver, gold, and few others too. This has also succeeded in offering manageable investment services.
|Supported Cryptocoins||bitcoin, dash, eos, ethereum, litecoin, omisego, ripple, zcash|
|Total Tradable Assets||52|
|Number Of Currency Pairs||33|
|Number Of Cryptocurrencies||11|
|Number Of Stocks||68|
|Number Of Indices||6|
|Number Of Commodities||NA|
|Number Of Futures||NA|
|Number Of Options||NA|
|Number Of Bonds||NA|
|Number Of ETFs||NA|
NordFX Demo Account
Before opening a live trading account, the users can have access to a demo account. It needs around 10,000$ demo currency. This would enable them to understand the interface.
One can Generally explore the entire trading pattern and platform. They can understand the markets that might interest them.
Setting up a virtual trading demo account is not difficult. The process is similar to setting up a proper account.
Once you visit the website, it would ask for the contact information along with the email ID. All the information regarding the login gets delivered to you in that email.
The funds given to you for virtual trading or on the demo account are o as phantom demo funds.
|Virtual Money||$ 5000|
NordFX Offers and Deals
The variety of offers provided by NordFX are huge. The analyst helps in summarising important critical events across various financial markets.
There is an option of stopping losses. It helps in limiting orders and also to a large possible limit allows trading. They further provide the reference promotion deal.
It enables users to make a money deposit and receive a whopping 10% cash bonus on that deposit made.
This might be an exciting offer to some people. Omit, the offers provided are good.
|Free Learning Courses||Yes|
|Free Demo Account||Yes|
|Discount on Brokerage||Yes|
|Flexible Brokerage Plans||Yes|
|Forex Trading Contest||No|
|Trading Bonuses & Rewards||No|
NordFX Regulation and Licensing
There are two regulatory licenses for NordFX.
The licenses get issued by the regulatory authority. Its name is Vanuatu, which is for the NFX Capital Vu.
This client acquisition takes up from various parts of Europe. There are protections of clients that usually come from the regulated firm.
It includes capital requirements, investor’s compensation, regular financial statements, and Tier 1 European Banks.
Find out Regulations & Licensing of more Forex Brokers
NordFX offers the demo account feature, which is also known as a virtual portfolio. It offers advanced financial chart comparison tools.
It also offered analysis, which is research-based. NordFX is available on different devices like IOS, iPhone, iPad, Android. It allows easy trading with tools available for new traders and seasoned experts as well.
The benefit of using seven different languages is also provided with a management fee of 2% and a fee of performance, which is 35% NordFX.
There is a different smallest investment on each of these funds, and the range of investment period varies from three months to one year. Any kind of early withdrawal leads to a penalty.
VPS hosting is also available, but it needs a monthly cost of $13.95 per month.
|Social Trading / Copy Trading||Yes|
|Guaranteed Stop Loss||No|
|Guaranteed Limit Orders||No|
|Guaranteed Fills / Liquidity||No|
|Trading From Chart||No|
|Interest On Margin||No|
|Other Trading Features||No|
NordFX Account Types
NordFX has four different types of accounts to offer. This leads to access to various spreads, markets, and platforms.
The MT4 trading platform is generally preferred for the forex accounts at NordFX. The MT5 platform will allow the trading of cryptocurrency.
There are different leverage limits and crypto-assets offered, which are accessible only with a specific account meant for crypto on the MT5.
Access to the crypto indexes is available on the Crypto specific account. The account type varies from beginners to advanced professional investors.
There is a choice for setting a fixed account, pro account, or zero accounts. The leverage margins remain fixed at 1:1000.
Commission discounts are available on some accounts, and others might charge more fees and also higher rates on market execution.
|Account Type||Fix Account||Pro Account||Zero Account|
|Spread||from 2 pips||from 0.9 pips||0.0 pips|
|Commission||No Commissions||No Commissions||0,0035% per trade|
NordFX Trading Account Features
Check below all the trading account features under various account types:
|Trading Desk Type||ECN, No dealing desk, STP|
|Maximum Leverage||Up to 1:1000|
|Suitable for beginners||Yes|
|Suitable for professionals||Yes|
|Suitable for scalping||Yes|
|Suitable for daily trading||Yes|
|Suitable for Weekly trading||Yes|
|Suitable for swing trading||Yes|
NordFX – Research & Advisory
Find below all the different reports and support provided by its Research & Advisory team :
|Daily Market Commentary||No|
|News (Top-Tier Sources)||Yes|
|Company Stock Review||Yes|
|Free Stock Tips||Yes|
NordFX has a record of delivering a trading performance. It is usable, but still, it might get complexed for inexperienced traders.
There are a lot of additional features that offer competitive leverage and spreads. It is the right choice for both experienced and new traders too.
Drawbacks or Cons of NordFX
Some investor’s brokers come under the purview of the regulatory authorities. There has to be strict adherence to leverage and a greater level of protection to consumers as well.
The installation of software might be difficult for some potential users. This might be a setback since there are many other online platforms for brokerage.
The leverage rate is high, which is not too safe for potential investors.
NordFX Trading Hours
The hours of trading are 24/7 since the platform is available is active.
However, the time of opening and closing of different assets varies. This might impact the trading of certain tradeable instruments.
NordFX Customer Care or Contact Details
There is a responsive team that is available to solve the queries that arise. The support team is knowledgeable.
There are dozens of employees at five different customer centers. Then the chat option is also there along with social media channels to interact with the team.
After visiting the page, you can input the information asked by them. It includes your name, email number, etc. They will get in touch with you.
Additionally, then so given at the bottom of the page for different countries. The social media handles, including Facebook, Instagram, Twitter, LinkedIn, are also available.
|Support During Weekends||No|
|Live Chat Support||Yes|
|Customer Support Languages||Arabic, Bengali, Chinese, English, Farsi, Hindi, Indonesian, Malaysian, Portuguese, Russian, Spanish, Thai, Vietnamese|
NordFX Safety and Security
NordFX has safe and reliable brokers who facilitate easy trading. It allows traders to trade on the go and all services are efficient and fast. It provides good service to professionals as well as frequent traders.
They have strict regulations to keep the money of investors safe, but there might be a lack of depth on this topic on the website.
NordFX Rating & Review
Based on the user experience, the following rating and reviews are provided.
|User Experience||7.0 / 10|
|Products & Services||7.6 / 10|
|Brokerage Charges & Fees||7.1 / 10|
|Research & Advisory||7.2 / 10|
|Trading Platforms||7.1 / 10|
|Overall Ratings||7.2/ 10|
|Total Client Reviews||111|
Conclusion or Verdict: NordFX
NordFX is perfect for traders who are looking into online trading platforms.
It has an excellent record of providing a wide variety of assets and has a functional account for demo as well as extensive customer support.
Certain differentiating factors enable this platform to stand out. The rates of commission are competitive as well.
However, there might be some investors who would want a better interface and added features; they might not find this very efficient to use.
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