NordFX Review 2022: Legit Or Scam? Pros & Cons

NordFX

$20

Min Deposit

0.0

Min Spread

2021

Foundation

+2

Broker Trusted Points

NordFX is a Vanuatu-based fx company that provides brokerage and trading services to traders worldwide. The firm will appeal to many traders because it offers a variety of accounts to fit diverse trading demands, low minimum deposit requirements, a demo account, and MT4 connectivity. Automated trading and trading signals are also available through the Metatrader platforms. To learn more, read our in-depth NordFX review.

Trading on more than 100 financial CFD instruments, including Forex, Indices, Commodities, Shares, and Cryptocurrencies, is available through the broker’s MetaTrader 4 platform for PC and MAC.

The broker also provides a copy trading signals service. Using the NordFX Pro account, experienced traders with profitable accounts can sell their trading recommendations to subscribers. 

Experts determine their subscription prices, and all revenue goes straight to their bank account, boosting profit for those willing to pay in the effort. Furthermore, there are no restrictions on techniques; scalping and EAs are both allowed.

Is NordFX Legit? Must Read Before Open Your Trading Account

NordFX is an offshore forex and CFD broker established in 2008 and is regulated by the Vanuatu Financial Services Commission (VFSC). Fix, Pro, Zero, and Savings Nord accounts are the four main account kinds available to users.

The Fix and Pro accounts have slightly higher spreads, but no commissions, whilst the Zero accounts have raw spreads but no commissions. Only account balances in stablecoins are allowed in the Savings account. There are also demo and Islamic (swap-free) accounts available.

Debit/credit card, bank transfer, Neteller, Skrill, WebMoney, Perfect Money, and other payment methods are also accessible. Almost all deposit methods are fee-free, although some withdrawal methods do have fees.

Users can also enter the $100,000 Super Lottery contest, which will run through December 31, 2021. Through this detailed NordFX review, hope you have understood the legality of the broker. 

Pros And Cons

Pros

  • Commission-Free Trading
  • It Offers more than 100 CFD trading Instruments.
  • Leverages up to 1:1000
  • 24*5 Customer Support
  • Educational Material available such as online classes, tutorials, etc.
  • Regulated by VFSC

Cons

  • Regulated Offshore
  • Lack of MT 5 Trading Platform

Why Choose NordFX? 

There are plenty of reasons why NordFX can be an ideal FX company for you. Here are some of the major reasons:

  • Established in 2008, it holds several licenses to provide financial services around the world.
  • The quick and easy account opening process and quick Nord account login add further to its success.
  • The broker offers the lowest spreads that start from as low as 0.2 pips.
  • Faster order execution in comparison to other FX companies.
  • An Interactive SSL mobile trading app.

Account Types Offered By NordFX? 

The brokerage offers three account kinds to suit various traders, from beginners to professional investors. Fixed Nord Account, Pro Nord Account, or Zero Nord Account are the three options available to investors. Although the leverage remains constant at 1:1000, initial deposits and spreads vary from 0.9 to 2.

Some accounts (such as the Zero Account) have no commissions, while others have slightly higher fees and market execution rates.

A Defi-based savings account is also available from the broker. The investing solution can create passive income of up to 30% per year. Clients can acquire a trade loan with a 3% interest rate that is deducted from investment income as part of their account terms.

Fix Account  Pro Account  Zero Account
Minimum Deposit Limit 10 250 500
Average Spreads 2 Pips 0.9 Pips 0.0 pips
Commission Zero Commission Zero Commission 0.0035%
Minimum Trade Size  0.01 Lot 0.01 Lot 0.01 Lot

How To Open Trading Account With Best Forex Broker – NordFX?

Users can create a new trading account in a few simple steps, as outlined below:

Step 1: Go through and visit the official website – www.nordfx.com. Now, click on Create Account.

Step 2: Sign up on the website and submit the required information such as Name, Address, contact number, email, currency pair, and account type.

Step 3: Verify identity by submitting proof of identity and residence address. You’ll soon receive your FX login details and password. 

The broker does not operate in the United States, Canada, European Union, Cuba, Sudan, Syria, and North Korea. For forex Vietnam services, you can see the official website of the broker. The trader can also compare this NordFX review to our recommended Broker InvestFw Review

Available Trading Instruments

The platform allows you to trade on over 100 financial CFD products, including Forex, indices, commodities, metals, stocks, and cryptocurrencies. The following is a list of only a few of the trading markets available:

Forex:  It includes many different currency pairs such as EUR/JPY, EUR/CAD, AUD/USD, etc.

Shares: Various stocks traded, including Amazon, Apple, and  Tesla.

Indices: It deals with many indexes, including Dow Jones 30 and Hong Kong 50.

Cryptocurrencies: There are various tradable currencies such as Bitcoin, Ethereum

Commodities: It offers various types of commodities for trading like Gold, Silver, and  Brent Crude Oil.

Spreads and overnight funding (swap) rates vary based on the entity, account type, and instrument being traded and are discussed further down in this study.

Commission and Spreads

NordFX’s spreads start at just 0.0 pips and are incredibly narrow (especially when compared to several competitors). In addition, they stay competitive by outsourcing trades to a third-party liquidity provider, which helps to keep costs down because of the high volume of deals.

The brokerage platform does not charge commission on the great majority of trades, which is a benefit of using this platform. However, keep in mind that when funds are taken, fees are imposed – the amount varies depending on the withdrawal method (e.g., online payment systems, digital wallets, or bank transfers).

Maximum Leverage

Through this detailed NordFX review, learn about the maximum leverage offered by the brokerage platform –

Like many other prominent brokers, NordFX is not regulated by the FCA or ESMA. As a result, the leverage available is quite high — rates of up to 1:1000 are available, but it varies by asset class.

Though many experienced traders may appreciate the high leverage level, it is critical for inexperienced investors to reduce their risk. Overextending one’s position is a common reason for rookie traders to lose money. This is simple to accomplish with such great leverage.

How Do I Withdraw Money On NordFX?

The broker accepts a variety of payment methods. Users can deposit monies directly into their accounts, pay with credit or debit cards, or use various other online payment options on the platform.

  • Credit Card
  • Debit Card
  • Bank wire Transfer
  • Netteler
  • Skrill
  • Perfect Money

The same payment options are available for withdrawal, and the method you choose has an impact on how much time it takes for the money to reach your bank account — their website claims that it can take anywhere from 1 to 6 business days.

Withdrawals must normally be made back to the same funding source used for the deposit, according to money laundering regulations.

What Trading Platforms Does NordFX Offer?

Users can trade on the platform using the popular MetaTrader 4 trading software for PC and MAC. NordFX is a great ‘one-size-fits-all’ trading platform; it uses the popular MetaTrader 4 platform like many other online brokers. 

It’s easy to use and basic enough for individuals who are new to trading to pick up quickly. Managed funds and automated investments are readily available choices requiring very little customization to implement.

More experienced traders, on the other hand, are not limited by the simple interface. There are additional levels of capability to delve into and a vast range of data and charts available for analysis if users feel they want more direct control and knowledge over their investing selections.

Features

  • It is Customizable
  • Updated Charting Facilities
  • Various Tools and Indicators
  • Expert advisors

Mobile App

NordFX uses the MetaTrader 4 platform, and it is widely used in business. This is a comprehensive, multipurpose, and versatile tool that requires the installation of certain software. As a result, users must have computers with enough RAM to use them. There is an SSL mobile trading app called MT4 accessible for mobile users. These can be downloaded for iOS and Android, albeit the functionality is limited compared to the PC version.

Customers can also use the broker’s specialized mobile trading software. It includes complete account administration, quick executions, and a variety of order kinds and is available for free download from separate app stores. Technical analysis and price alerts are still possible for mobile traders. The app is a fantastic trading tool for forex Download the SSL mobile trading app from Play Store or App Store. 

Education and Research

Articles, Forex Videos, and a Glossary are among the instructional resources available through NordFX’s learning centre. The article content is extensive and updated monthly, but the forex videos offer a broader range of topics and are organised by category: Beginners, Advanced, Terms, Strategies, and MetaTrader.

Market Analysis, Trading Signals, an Economic Calendar, a Trader’s Calculator, and a Currency Converter are among the market research tools available on the platform. The market analysis area is extensive and includes many future news and events each week. However, the content is only available in article format. Newer traders will benefit from trading signals because they can imitate the trades of more experienced traders simply by subscribing.

Customer Support

NordFX provides multilingual customer assistance via Live Chat, Email, and Phone 24*7 in English, Spanish, Chinese, Arabic, Hindi, Bengali, Farsi, Indonesian, Thai, Sinhalese, and Vietnamese.
In the website’s assistance section, there is also a contact form.

An agent welcomed us after 1 minute of testing the live chat option and swiftly answered our question.

  • Address: Pot 805/103 Rue D’Auvergne, Port Vila, Vanuatu.
  • Phone No.: +91 120 4333948
  • Email: [email protected]
  • Social Media: Twitter, Instagram, Facebook, Telegram, YouTube 

Conclusion

This was the detailed Nordfx review based on every aspect of trading features and conditions. Overall the broker is new and offers very average and limited services, which are not good for novice traders.

Fund safety is also not guaranteed as the broker is completely new in the market, and there is no proper information on its official website. Do your thorough research before choosing this broker. There are various top-rated forex brokers in the market; you can start your trading with them.

You can explore another best forex broker ABINVESTING

FAQs

How Did NordFX Make Money?

Spreads, commissions, and swaps on certain tradable asset classes and trading accounts are how this broker makes money.

What Is The Minimum Deposit For NordFX?

The minimum deposit is $10. Read our in-depth NordFX review to know more. 

How To Withdraw Money From The NordFX Account?

NordFX accepts withdrawals via debit/credit card, bank wire, Neteller, Skrill, WebMoney, Perfect Money, and other methods.

What Is The Maximum Leverage Offered By NordFX?

The maximum leverages offered 1:1000.

Which Is The Most Reliable Forex Broker?

Considering the regulations, we can say NordFX is probably the most reliable forex broker. Read our detailed NordFX review to learn more about the broker.

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