NoaFX Review

MIN. DEPOSIT $10
Up to 500:1
Welcome BONUS
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Overview

Company Information NoaFX is a New Zealand online Forex trading broker for individuals and institutions. It’s a premium brand of the Capital Markets Investments Ltd., and it was created in… more

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Details

BrokerNoaFX
Website URLhttp://www.noafx.com/
Founded2009
HeadquartersKingstown, St. Vincent and the Grenadines
Support TypesLive Chat
LanguagesEnglish, Chinese, Malay, Indonesian, Portuguese
Minimum 1st Deposit$10
Minimum Trade Amount0.01 lots
Maximum Trade Amount8.00 lots
BonusWelcome
PayoutUp to 500:1
Free Demo AccountYes
Regulated Yes
RegulationFinancial Services Authority of the St. Vincent and the Grenadines
Account TypesNoaFX Ultra, NoaFX Pro, NoaFX Ultra Account
Deposit MethodsWire Transfer, Debit/Credit cards, Neteller, Skrill, Payza, China UnionPay, FasaPay
Withdrawal MethodsWire Transfer, Neteller, Skrill, Payza, China UnionPay, FasaPay
Types of AssetsForex, Metals, Commodities, Indices
Account CurrencyUSD, SGD, EUR
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

NoaFX is a New Zealand online Forex trading broker for individuals and institutions. It’s a premium brand of the Capital Markets Investments Ltd., and it was created in 2013. The foundation of the company dates back to 2006 when founding managers of the NoaFX were still operating as individuals. It was much later in 2011 when the operations were moved into a private entity, and the company started its plans for building a web-based trading platform. Based in New Zealand the company is regulated by the FSP and is a member of the Financial Dispute Resolution Organization. One of the top managers in the company is the famous Courtney Smith; a world recognized Forex Trainer. With such a high background one can expect that NoaFX is one of the top choices for Forex trading in the online broker industry. And indeed, they deliver a stellar platform with superb trading conditions. Offering some of the tightest spreads in the world NoaFX is the preferred trading broker for millions of people around the world.

 

Trading Information

In NoaFX you can choose five different types of accounts. The NoaFX Ultra is the most preferred account for beginner traders with a $10 minimum deposit requirement. The maximum funding deposit is $5000. Spreads are “ultra tight” as the people at NoaFX describe them and range from 0.2 pips. There is a fixed commission of 0.5 pips. Maximum leverage is set to 1:500 and the pending order gap level is from 3 pips. Next is the NoaFX Pro account where you have even more benefits. There is no maximum funding deposit, and LP’s are over 71 (there are only 20 for the Ultra account). There are no commissions, and the maximum leverage is 1:400. Stop out level is at 20% (much less compared to the Ultra where it’s 50%) and you can there is scalping. The Pro account also lets you trade with indices and commodities which are missing as trading instruments in the Ultra account. The third option is to make a NoaFX joint account. The difference here is that the account can be managed by several people. The NoaFX Corporate account is for corporate clients who need to move large bulk orders fast, and NoaFX takes care of that for them. The newest addition to their account selection is the Binary options dedicated account. It doesn’t need much explaining as it is devoted to binary options trading.

Trading Platforms

It’s not a surprise that the people from NoaFX have chosen the MT4 as their only trading platform. It offers all the features and tools that a trader needs and is excellent for customization and use. With over 250 trading instruments, charts, analysis tools, streaming news and much more, the MT4 is the most versatile platform out there. What makes it even more valuable is that it’s suitable for almost all modern computer and mobile devices. It works on Windows and MAC, and there are dedicated apps for smartphones and tablets. The Apple and Android stores have the MT4 for download at any time. A big miss here is the lack of WebTrader platform. It means that whenever you want to have access to the trading platform, you’ll need to download and install it on your device. It’s not a big deal as there are brokers with much fewer options, but it would’ve been great to see it implemented shortly.

Security and Customer Services

Now, security at NoaFX needs a bit of improvement as most of the website pages on the site lack the SSL encryption. Even on their Open Account page, there is no protection which makes it vulnerable to hacking attempts. At least they have the segregated account option, and your funds are deposited into a separate trust account. It means your funds will not be threatened if something happens to the company’s funds. The website is translated in English, Chinese, Indonesian, Malay and Portuguese. The customer support is 24/7 which is quite nice, and there are plenty of ways to contact them. The client care team is located at 9, Karpenisiou Street, Nicosia 2021, Cyprus via live chat, email or filling an online contact form. It’s a bit odd that there aren’t any phone numbers or a “request a call back” option. Their Knowledge Centre page is where you’ll find all the information you need about trading. There is a video library, an economic, a blog and a NoaFX tutorial for beginners.

 

Deposits and Withdraws

One their “Funding and withdrawals” page you can find all the payment methods supported by NoaFX. They have made the effort to make all of the modern fund transfer methods available. Deposits are free of charge and processing times are quick. For some methods they are instant and for other, it might take up to one business day. Withdrawals, however, have some specifics that you’ll need to know. For starters, you can’t withdraw less than $40 (or currency equivalent) and half of the withdrawal methods have a $30 fee for every withdrawal. All international wire transfers must be via bank account that has the same name as the account holder.

 

Deposit Bonus and Loyalty Programs

Currently, there aren’t any promotions or bonus offers at NoaFX. It seems that company is putting their main effort in maintaining the tight spreads they provide, and other promotions are not needed. Surely they bring enough clients as it is and a loyalty program is not part of their plans.

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