NordFX is a licensed and well regulated FX/CFD broker with a
wide selection of trading platforms and very narrow spreads.


General

Broker:
NordFX
Company Name:
NordFX
Founded:
2008
Regulator:
VFSC, CySEC, SEBI
Platform:
MetaTrader 4, MetaTrader 5
Payment Methods:
Bank transfer, VISA, MasterCard, WebMoney, Skrill, NETELLER, Payza, PayWeb, Perfect Money, QIWI, FasaPay, Z-Payment and more
HQ:
Cyprus
Phone Support:
+88043334516
Publicly Listed:
No
Trust Score:
 
4.7/5
93/100

Features

Min. Deposit:
$10
EURUSD Spread:
From 0.0 pips on Zero accounts, 0,5 on Pro accounts
Average Spread:
2.0 pips on Fix, 0.9 Pro account, 0.2 pips on Zero accounts
Leverage:
1:1000
US Clients:
No
Dealing Desk:
No
Web Trading:
Yes
Managed Accounts:
Yes
Withdrawal Process Time:
From instant up to 1 working day on online payment systems and up to 5 working days for bank transfers and bank cards
CFDs Offered:
All basic stock exchange indices such as Dow Jones 30, SPX500, Germany 30 Cash index, NAS100, JP225, and oil Crude Oil Brent Cash
Fees:
On Zero accounts, 0,0035% per trade (each side); for crypto pairs: Maker Fees -0,02% (paid to trader) Taker Fees 0,09%

Pros:

- Lowest spread from 0.1.
- Crypto currencies.
- Investment funds with most profitable and stable global stocks.
- RAMM/PAMM.

Cons:

- Does not accept US traders
- No bonus offer


NordFX Review

NordFX is, at first glance, a fairly run-of-the-mill online FX/CFD broker. NordFX is regulated in a rather impressive number of jurisdictions and it offers a fair selection of tradable assets. NordFX also has some special tricks up its sleeves.

Its RAMM account option takes trading to an entirely new level. It allows investors to trade and invest freely, while receiving investments from others. This is not the main selling point of the brokerage however. Its wide selection of trading platforms and its supposedly very narrow spreads fill this role nicely.

Founded in 2008, the operation is more than a decade old. During that time, it has amassed plenty of trader feedback. The good news is that the vast majority of this feedback is positive. Most traders have appreciated their NordFX experience. Those who haven’t, have complained about spread manipulation, Stop Loss hunting and some issues regarding the manipulation of traders’ funds.

NordFX Website Screenshot

The company behind the NordFX brand is NFX Capital Vu Inc. The actual address of the corporate entity is VANTU HOUSE 133 SANTINA PARADE, ELLUK, PORT VILA, EFATE, VANUATU.

That makes it clear that we are dealing with an offshore broker here. Indeed, according to the documents provided to us by NordFX, the brokerage is licensed by Vanuatu’s VFSC.

According to the same documents however, the corporate entity behind the brand is a certain NordFX, which is headquartered in Cyprus. It is also licensed by the local CySEC, which makes it MiFID-compliant. What’s interesting is that while we accessed the official site of the broker from within the EU, we were presented with the international site, which features the above detailed Vanuatu credentials.

In addition to the above, the broker is apparently also regulated/licensed in India, by the local SEBI.

As the above makes it clear, on the regulatory front, NordFX looks very good.

Are there any other reasons though why the rank-and-file trader should sign up?

In 2019, for the 3rd year in a row, NordFX was named the Best Cryptocurrency Broker by FXDailyInfo. In addition to that, the broker is the proud possessor of several other industry awards too.

Above and beyond prestige, NordFX delivers value-wise as well. As mentioned, the spreads offered by the broker are some of the best in the business. The maximum available leverage is 1:1,000, and that is nothing to sneeze at either.

Order execution should not take longer than 5 seconds, though this is obviously only valid for markets with high liquidity, under normal market conditions. NordFX also offers direct ECN access.

In addition to its regular trading platforms, the broker has also made mobile platforms available, through which users can trade on the go.

NordFX Account Types

It is hardly surprising that NordFX picked up several awards for its crypto CFD trading features. The broker offers a separate account type to those looking for exposure to this new and dynamic asset class.

NordFX’s most basic account type is the Fix one, which features a minimum deposit of $10. The spread on this account type starts from 2 pips, so it is rather substantial.

The maximum leverage is 1:1000.

The Fix account features some 28 FX pairs, as well as gold and silver. Cryptocurrencies have been made available through a different website. What’s interesting about the Fix account is that it supports account balances in USD, BTC and ETH too.

The Pro account raises the stakes a bit, but it remains very accessible to the average trader. The minimum required deposit for this account type is $250. For that money, traders who register for such an account, get spreads starting from just 0.9 pips – quite an improvement over the Fix Account.

Some 33 FX pairs, several metals and cryptocurrencies can be traded through this account. In all other respects, the trading conditions are the same as on the Fix Account.

The Zero Account features ECN access. Its minimum deposit requirement is just $500. The spreads here start from 0 pips, but in exchange for that, traders pay a commission of 0.0035% per trade per side.

This account type offers full access to the tradable asset selection of the brokerage.

The Crypto Account is a true bonanza for fans of volatility and high-risk action. With a minimum deposit requirement of just $500, it too is as accessible as any of the aforementioned account types.

For that money, traders gain access to 17 crypto pairs as well as 4 crypto indices. The spreads on this account start from 1 pip.

Market makers are rewarded with an 0.02% commission. Takers are the only ones who pay fees. These fees amount to 0.09%.

NordFX Trading Platforms

NordFX’s focus is on MetaQuotes’ trading platform suite. MT4, MT5 and MetaTrader 4 MultiTerminal are all supported.

In NordFX’s take, MT5 is aimed at cryptocurrency trading. It supports some 7 order types, as well as a handy volume-assessment tool.

Needless to say, MT5 comes with a plethora of drawing tools and technical indicators. Its charting capabilities are superb. Traders are free to make use of expert advisors and custom scripts.

The Strategy Tester allows traders to put their EA/custom script combos to the test, without risking real money. A live news stream is also part of the NordFX MT5 package.

MT4 on the other hand is meant for FX and precious metals trading. MT4’s virtues are numerous and well-known. The platform supports a huge number of time frames, market- and instant execution, several order types as well as superb charting.

Scores of technical indicators come pre-installed with the software that can be downloaded for free, from the NordFX website.

Traders can also create and install custom technical indicators. MT4 supports live news streams, to prop up the fundamental component of trading analysis.

The MultiTerminal version of MT4, coupled with the PAMM accounts that are available, is aimed at advanced and professional traders who juggle multiple accounts. It retains all the essential MT4 features and it delivers them in a user-friendly package.

This platform allows for the automatic or manual distribution of trade volumes across the accounts.

NordFX Platform Screenshot

The iPhone and iPad as well as the Android versions of MT4 are just as well known. They deliver most of the features of the full MT4 package, in a portable form.

What this means is that traders can exercise complete control over their trading accounts, through their mobile phones.

They get to trade directly from the charts, using a number of different order types. The mobile platform supports 7 different time frames and no fewer than 30 technical indicators.

The data usage is minimal and the interfaces are as user friendly as it gets. 

NordFX’s RAMM Service

Through this service, NordFX investors get the chance to invest in several trading strategies at the same time. The entry barrier to the service is extremely low: a minimum deposit of $50 is required. The actual trading process can start off as little as $10.

The service supports scores of accounts, allowing traders to create entire portfolios. A built-in risk management system is also part of the package and traders are free to trade manually, or through EAs.

NordFX Support

NordFX’s customer service can be contacted through an email form, as well as through phone. Several toll-free phone numbers are available: +86 108 4053677 for China, +911204533777 for India and 88043334516 for Russia.

The direct email address is: support@nordfx.com.

NordFX Conclusion

NordFX is a serious trading destination. It is well regulated with many trading platform options and its reputation is more than decent.

It is indeed great for the trading of cryptocurrency CFDs.

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