NordFX NordFX operates as an international brokerage, offering a comprehensive suite of services for online traders. With NordFX, you have the opportunity to trade precious metals like silver and gold, delve into the forex market, or invest in global stocks with significant income potential and up to full capital protection.
At NordFX, they're committed to providing the best trading conditions, featuring low spreads and prompt order execution. Major currency pairs come with spreads ranging from 0.2 to 2 pips, generally more competitive than many other brokers. This can help traders enhance profitability by reducing costs. They additionally offer a leverage option of up to 1:1,000 applicable to both metal trading and a broad array of currency pairs. For ease of transactions, your account can be maintained in USD, encompassing deposits and withdrawals.
Established in 2008, NordFX has since facilitated the opening of over 1.2 million accounts, serving clients in more than 100 countries worldwide. The broker is under the umbrella of NordFX CY (NFX CAPITAL CY LTD) with its headquarters in Limassol, Cyprus.
Traders will find NordFX appealing for their diverse asset offerings, including 33 forex currency pairs, equities, cryptocurrencies, and valuable metals. Their versatile platforms cater to various trading preferences with mobile-friendly options. The stability of NordFX’s platforms and servers ensures dependable trading, executing orders in just half a second.
Setting up an account with NordFX is both speedy and straightforward, fully handled online for your convenience. This enables new users to start trading almost immediately.
NordFX Account Types
With four distinct account types at NordFX, all users gain access to a trading guide and the MetaTrader 5 platform. A Fix account requires no commission and only a $10 minimum deposit, with spreads starting at 2 pips and leverage up to 1:1,000. Balances for these accounts can be held in USD, BTC, or ETH, with a quote precision of four digits. Traders can engage with 28 currency pairs including gold and silver on this account.
Pro Accounts maintain no commission structure and share the leverage and balance currency options. These accounts require at least a $50 deposit, with five-digit quote precision. Spreads start lower at 0.9 pips, and access expands to 33 currency pairs, metals, and cryptocurrencies.
For traders seeking minimal spreads, the Zero Account starts from 0.0 pips. It demands a minimum $100 deposit, with a commission of 0.0045% per trade on each side. These accounts offer the same balance currencies and leverage, granting access to 33 currency pairs, cryptocurrencies, and metals.
The distinctive Crypto Account has a starting deposit of just $1 with spreads from one pip. These accounts can be in USD, BTC, or ETH, providing access to 16 cryptocurrency pairs and four cryptocurrency indices, with maker fees of -0.02% (incentivizing the trader) and taker fees of 0.09%.
Requirements for Account Verification
Typically, NordFX does not necessitate documents for opening an account. However, for verification purposes, sometimes document submission is required. This involves providing photo ID scans and proof of residence that align with your account registration information. Verification becomes essential if you plan to use your bank card for deposits.
NordFX Demo Accounts
NordFX offers a free demo account without a time limit, a welcome feature compared to many brokers who restrict demo account durations. Note that inactivity exceeding 14 days leads to automatic demo account deletion. Accounts can be easily set up via MetaTrader 4, MetaTrader 5, or through the Trader’s Office linked to a live account.
Viewing the Trader’s Office
In NordFX's Trader’s Office, you can access comprehensive account data when you log in. Under Personal Settings, you can view personal data and critical account information such as type, selected leverage, and balance. You can specify where to transfer funds, either MT4 or the Trader’s Office; unspecified transfers default to your MT4 balance. For added security, you can restrict IP addresses permitted to access your Trader’s Office. Specify allowed IPs using commas, new lines, or spaces to separate them.
NordFX Deposits & Withdrawals
Offering versatility in funding options, NordFX allows deposits in USD, EUR, or RUB through bank transfers, typically taking three to five business days without fees from NordFX itself, although banks may impose charges. Instant deposits via Visa or MasterCard are also available in these currencies commission-free.
Additionally, NordFX supports over a dozen instant online payment systems. Fee-free options include Ngan Luong (VND), DCPay (USD or EUR), Fasapay (USD or IDR), Alipay (USD or CNY), Yandex.Money (RUB), Alfa-Click (RUB), Neteller (USD), Skrill (USD or EUR), and QIWI (RUB). WebMoney transactions incur a 0.8% fee, capped at $50. Visa/Maestro deposits via Neteller range from 1.75-4.95%, with PayWeb incurring a $0.50 fee and PayToday using a 4% fee for THB deposits. Perfect Money allows USD/EUR deposits at 0.5% for premium/verified accounts and 1.99% for unverified accounts.
Withdrawal methods largely mirror deposit options but notable differences exist, particularly in timelines and costs. Bank transfers take three to five business days, with Visa/Mastercard withdrawals requiring five to six days; fees include 4% plus $7.50. Instant withdrawals via PayToday incur a 2% fee. Other online systems take one business day, with no fees for QIWI, Neteller, PayWeb, and Ngan Luong, though WebMoney matches deposit fees. Skrill charges 1% and Perfect Money 0.5%.
You may also withdraw from your NordFX account via internal transfer in USD or EUR without commission. This is instant between consolidated accounts or takes a business day otherwise. Be mindful that all withdrawals are processed only during business hours, 9:00 to 18:00 CET, excluding weekends and holidays.
Should a deposit fail to reflect in your account, visit the Trader’s Office online, navigate to the Lost Transfer Notification section, and input your details there. Normally, funds appear in the account within a business day post-notification. If delays persist, reach out to NordFX’s Finance Department via email.
Trading Platforms
On NordFX, trading platforms include MetaTrader 5, MetaTrader 4, iOS/Android apps, and MultiTerminal.
MetaTrader 5
MetaTrader platforms are widely favored, and MetaTrader 5, the latest evolution, further refines the experience. It’s optimized for exchange and Forex trading, including cryptocurrencies. Its developer, Metaquote, underscores its promise due to its adeptness in high-speed market operations and real-time technical strategy analysis.
MetaTrader 5 boasts a plethora of benefits:
- Abundant statistical data and graphics enhancing trading performance.
- Access to news from top-notch agencies.
- Ideal for trading cryptocurrencies on exchanges.
- 7 order types and market executions.
- The Strategy Tester on MT5 delivers expert advisors and precise, swift testing of chosen strategies.
- Market Depth shows volumes available at current rates.
- It integrates numerous scripts, analysis tools, and technical indicators to refine technical analysis, essential for transaction strategy and decision-making.
Order execution is swift, with a versatile array of order types and strategies. The programming language supports custom advisors and indicators, enhancing both speed and price analysis accuracy.
MetaTrader 5 is downloadable for desktops and available as a mobile app for Androids and iPhones.
MetaTrader 4
MetaTrader 4, too, facilitates Forex and precious metals trading. Users benefit from both instant and market order executions with diverse order types to fit various trading tactics. It enables creating and testing of scripts and indicators. The MT4 programming language is accessible for developing advisors and testing strategies, complemented by built-in indicators and graphical tools. As a Forex trading benchmark, MT4 offers abundant tutorials and resources, integrating news feeds for on-platform updates and high-level security.
Here are some perks of using the MetaTrader 4 platform:
- You get to stay updated with news from a variety of well-known agencies, including the world-renowned Dow Jones.
- There are tools available that let you perform technical analysis in real-time.
- You're free to write and test your personalized trading scripts and indicators.
- The platform supports both Market Execution and Instant Execution for trades.
- A multitude of trading timeframes are there to suit your needs.
- Superior security.
MetaTrader 4's widespread popularity means that NordFX traders have the flexibility to use it across numerous devices. Desktop versions are compatible with both Windows and Mac, and there are mobile applications accessible for Android and iPhone.
MultiTerminal
For those juggling multiple accounts, NordFX offers the MetaTrader 4 MultiTerminal. This is tailored specifically for account managers and traders handling several accounts at once. The interface is straightforward and retains all major features of the MetaTrader 4.
Using MT4 MultiTerminal, you can effortlessly initiate buy or sell orders, adjust existing ones, and either fully or partially close a position. Trading volume for each account can be distributed automatically or manually. Plus, Advanced Security ensures secure data transmission.
Key benefits of the MT4 MultiTerminal platform are:
- You can close positions either fully or in part.
- You have the power to place and amend buy and sell orders.
- It only executes operations in the investor's account, allowing oversight of the manager's actions.
- There’s a choice between automatic or manual allocation of trade volume tailored to each account. (You can let the system automatically distribute based on equity ratios or use equal distribution algorithms.)
It's paramount to mention that an MT4 MultiTerminal may pose some complexities for those not very experienced. Hence, NordFX advises reading the User Guide thoroughly and suggests practicing on a demo account first. Also, it's crucial to remember all managed accounts with a MetaTrader 4 MultiTerminal should be on a single server.
Mobile Trading Devices
iPhone and iPad
If you're using an iPhone, MT4 is optimized for seamless use among MetaTrader 4 enthusiasts. iOS users can trade foreign exchange instruments anytime, anywhere, bringing a user-friendly interface and the essential functions of MetaTrader 4 for effective mobile trading.
Some features that you might appreciate include:
- Various chart styles — broken lines, candlesticks, and bars.
- Total account control.
- Financial instruments' quotes updated in real-time.
- Direct trading from the chart.
- Entire trading history.
- Interactive, real-time charts that you can scroll and scale.
- The complete range of trading orders, including pending ones.
- Simple to use interface.
- Charts visibly indicate volumes and trading levels.
- Choice of thirty different oscillators and indicators.
- Supports all kinds of trading operations.
- Minimal data used.
- 7 different timeframes: D1, H4, H1, M30, M15, M5, and M1.
- Secure network ensuring data transmission.
- Usable offline — accessing trading history, charts, quotes, and current positions.
This app can be downloaded from the Apple Store, linked via the NordFX platform description.
Android
The Android platform from NordFX mirrors the iOS feature set, offering a similar user-friendly interface integrated with all the functionalities of MetaTrader 4.
To obtain the Android app, explore the Google Play Store, use the link provided in the NordFX website application description, scan the QR code, or download via email.
With the MetaTrader mobile apps, be it iOS or Android, NordFX enables trading anytime, anywhere. While they have full functionality, the limited size of a smartphone screen can constrain detailed chart observation. Nonetheless, these apps are invaluable for novice traders inclined towards simpler strategies and for seasoned traders on the go.
NordFX’s Managed Investment Options
NordFX has Investment Funds, offering a straightforward, clear, and affordable way to invest in global leading companies' shares. Novices with modest amounts can benefit from professional asset management through these funds.
The NordFX Pro-Industry Fund promises a 27% annual return, comprising companies like Motorola, Nike, Ferrari, and more. The minimum investment is $1,000 with a timeframe between six months to a year.
Pro-TECH Fund participants get to invest in giants like AMD, Adobe Systems, and NVIDIA, with a 40.9% projected annual yield. The entry investment threshold is $3,000, spanning three months to a year.
Lastly, the Pro-Expert Fund contains titans like Netflix, Visa, Amazon, offering returns of 57% per annum for a minimum $5,000 investment over three months to a year.
Beyond NordFX Investment Funds, other instruments are provided, offering secure investment protection alongside returns exceeding bank deposits. NordFX exercises strategic fund allocation—some in lower-risk, less lucrative options, others in higher-risk yet potentially rewarding ones. These products guarantee income and capital protection, sortable by minimum investment and term length.
NordFX Trading Tools
Upholding its reputation, NordFX ensures traders have strategic tools to plan and profit. Regular analysis and market news, including weekly forecasts for forex and cryptocurrencies, are part of this.
An economic calendar is at traders' disposal, pinpointing market-influencing events. The calendar includes event details, currency, impact, with actual, forecast, and prior figures. Filters enhance event visibility relevant to your trading tactics.
NordFX users can leverage the Trader’s Calculator for potential profit estimation. Input your account type, leverage, and currency, then enter trading positions. Each requires instrument, position size, buy/sell details, automatically filling in open/close prices. After calculation, you see price, pip value, spread, swap, margin, and individual position profit, culminating in total gains displayed at the bottom.
All NordFX members gain access to trading signals via MetaQuotes Software Corp’s integrations in MetaTrader 4. Thousands of signal providers can be connected globally, allowing for seamless signal copying in accounts. Clients can elevate their income by becoming signal providers.
Neither traders nor providers need to grant third-party balance or account access; passwords aren’t required to subscribe to Signals. Based on chosen signals, a fee might apply, otherwise, it’s free. Signal usage doesn’t add to commissions or spreads, typically with a one-month subscription.
In collaboration with Fozzy, NordFX offers traders VPS hosting, ensuring constant trading without interruptions. This partnership allows NordFX clients to save on VPS, boasting a rapid transfer rate, as Fozzy’s servers align with NordFX’s. This proximity enables a sub-millisecond speed, far exceeding typical exchange rates. With 24/7 uptime, expert advisors trade without a hitch, and service reliability is enhanced by daily data backups.
Educational Resources
NordFX extends a host of educational resources via the Learning Center. Tailored content caters to traders at any experience level, honing skills and enriching trading knowledge. Sections include forex basics, a glossary, the economic calendar, a Trader’s Guide to Markets, and forex robot advisor testing.
The Trader’s Guide to Markets serves as an invaluable resource with various topics, from getting started with MT4/MT5 to trading crypto strategies and utilizing 1:1,000 leverage.
The Testing Forex Robot Advisors section delves into examining various popular robot advisors used in forex trading and evaluates their performance. In this part, the range spans from straightforward advisors to more complex systems, incorporating both free and premium options. NordFX encourages traders to enhance this segment by sharing their personal outcomes obtained through these advisors.
NordFX Awards
Throughout its history, NordFX has accumulated numerous accolades. Starting in 2010, they bagged the Best Forex Dealing Service from China's Financial Annual Champion Awards HeXun. The following year, they garnered further recognition, earning awards such as Guangzhou International Investment & Finance Expo’s Best Forex Broker Trading China and Academy Masterforex-V’s accolade for World Best Forex Dealing Service.thIn 2012, NordFX's commendations included a second reception of the Academy Masterforex-V honor and the World Best Micro Forex Broker title, as well as gaining recognition as the Best Broker for Trading with Advisors from the IAFT Awards.
By 2013, accolades continued with awards like CFI.com Magazine’s Best FX Broker in Asia, MENA Forex Show’s Best Forex Arabic Platform, and China Forex Expo Awards’ Best Micro Forex Broker. The same year, Academy Masterforex-V credited NordFX with multiple distinctions, highlighting their World Best Bonus Program, World Best Dealing Service, and World Best Micro Forex Broker. Honors persisted in 2014 with Academy Masterforex-V's recognition, including the World Best Forex Dealing Service, alongside the Best Micro Forex Broker and Best Broker with Trading Signals Service titles from the Forex Awards Ratings.thIn the year 2015, accolades included recognition from the Forex Awards Ratings for Best Micro Forex Broker and Best Execution Broker. Other notable titles included World Best Forex Broker, World Best Micro Broker, World Best Broker for Copy Trading, and World Best ECN Broker from Academy Masterforex-v. Additionally, the IAFT Awards honored them as Best Broker in Asia, further cementing their reputation.
The streak of awards continued in 2016 with repeat recognitions and new honors like Best 24/7 Customer Service from Forex Expo Awards and the Most Reliable Broker 2016 from the Forex Awards. That year also saw them winning the Best Affiliate Program from Forex Awards Ratings and maintaining accolades from Academy Masterforex-V. In 2017, significant titles like Most Reliable Broker from ShowFx World, Best Bonus Programs and Promotions in Asia, and Best Broker to Work with Cryptocurrencies were awarded, further solidifying NordFX’s reputation.
In 2018, NordFX continued its winning tradition by earning the Most Trusted Cryptocurrency Broker title from the Global Brands Awards. Other accolades included Best News & Analysis Provider from Fxdailyinfo Awards and Best Broker for Trading Cryptocurrencies from the International Business Magazine Awards.
To reach out to NordFX customer support, one can easily click on the support button located at the top right corner of the site. Alternatively, accessing the Contact option in the main navigation menu brings you to a form requesting essential details. Choose the relevant department, whether it be customer service, payments, or others, enter your details such as name, email, select your subject, write your message, indicate your customer status, and complete a quick anti-spam challenge.
How Is NordFX Customer Support?
At the bottom of this web page, essential contact details like phone numbers for specific regions such as China, Russia, Thailand, India, and Sri Lanka are available. Additionally, the support email and a physical address in Vanuatu are provided, along with a brief FAQ section for some common inquiries, although it is not as detailed as some competitors.
NordFX stands amid fierce competition with other brokers which have been similarly reviewed before. These brokers offer parallel services in domains like forex, precious metals, and cryptocurrencies.
Competitors
NordFX functions as a broker offering the ability to trade through various platforms for forex, precious metals, and cryptocurrencies. They take pride in offering highly competitive spreads and also provide numerous options for depositing and withdrawing funds.
Conclusion
Known for its excellent reputation, NordFX caters to a wide spectrum of traders, from novices to seasoned veterans, through diverse account options designed to accommodate specific trading needs.
Their trading platform boasts a wide array of features aimed at fulfilling the requirements of most traders, regardless of experience level.
One notable characteristic of NordFX is the managed investment funds offering, a feature not commonly found among its peers.
The Editor-in-Chief of Blockonomi and founder of Kooc Media, a British-based online media firm, is committed to the advocacy of open-source software, blockchain technology, and ensuring an internet that is free and fair for everyone.
NordFX
Pros
- Long History & Well Established
- Good Trading Platform
- Managed Investments Available
- Mobile Trading
Cons
- No investor protection scheme
2Comments
Thanks for this!
Any updates on this since it was posted?