NordFX Review

MIN. DEPOSIT $5
Up to 1,000:1
Up to 100% BONUS
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NordFX
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Overview

Company Information NordFX is an online Forex trading broker that has already earned its recognition by many traders all over the world. The platform was launched in 2008, and it… more

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Details

BrokerNordFX
Website URLhttp://nordfx.com/
Founded2008
HeadquartersEbene CyberCity, Mauritius
Support Number+91 120 4533777
Support TypesPhone, Live Chat
LanguagesEnglish, Russian, Chinese, Indonesian, Spanish, Arabic, Portuguese, Hindi, Farsi, Thai, Bengali
Minimum 1st Deposit$5
Minimum Trade Amount0.01
Maximum Trade AmountDepending on the trade terms
BonusUp to 100%
PayoutUp to 1,000:1
Free Demo AccountYes
Regulated Yes
RegulationFinancial Services Commission of the Republic of Mauritius
Account TypesMicro, Account 1:1000, MT-ECN, Standard, Standard-MT5, Premium
Deposit MethodsVisa, MasterCard, WebMoney, Skrill, Neteller, PayWeb, Payza, Bank Transfer, PerfectMoney, Dengi Online, Alfa Click, Yandex Money, LavaPay, AliPay, FasaPay, OKPay, cashU, DixiPay, FillsPay, VixiPay, EzeeBill, CSS System, DCPay, Z-Payment, OnPay.ru, Qiwi
Withdrawal MethodsVisa, MasterCard, WebMoney, Skrill, Neteller, PayWeb, PerfectMoney, Payza, Internal Transfer, Qiwi
Types of AssetsForex, Precious Metals
Account CurrencyRUB, USD, EUR, CNY, IDR, GBP
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

NordFX is an online Forex trading broker that has already earned its recognition by many traders all over the world. The platform was launched in 2008, and it counts as one of the new names in the industry. But don’t let that confuse you, they have already surpassed many of their competitors with the flawless trading experience they offer and some of the best features that such a platform can offer. Owners of the site are NFX CAPITAL MU INC.  And they are regulated by CySEC (Cyprus), FSC (Mauritius), IFSC (Belize), SEBI (India). Their headquarters are located in Mauritius, but they have additional offices in countries like India and Russia. Clients from the US are not allowed on the platform. Their main goal is to create a safe and transparent trading experience for all clients who join the platform. Using the latest tools and features NordFX has quickly become a popular name among traders. They have already over 1 000 000 accounts in their database which shows their intent to be competitive in the industry and keep evolving. Also, they have earned more than ten awards from 2010 to 2015 from countries all over the world. It’s all about trading experience with NordFX, and we’ll see what trading services they can provide in our trading review.

 

Trading Information

For a company with already eight years of experience in the industry, you can expect that NordFX will offer some tempting features, and you will not be disappointed. They don’t offer as many trading instruments as most of their competitors but still you’ll be able to trade effortlessly with gold, silver and binary options. They have six types of accounts where you can start trading with just a $5 deposit. The currency pairs go from 20 to 37 depending on which account you choose and have variable and fixed spreads. Major Forex spreads are USD/EUR 1.6 pips, GBP/USD 2.2 pips and USD/JPY 1.6 pips. Maximum Forex leverage is set to 1:1000 which is a bit high for the industry standard but it may be reduced to 1:500 if your deposit is high enough. Scalping and hedging are allowed, and there is an option for an Islamic account. What about trading tools? NordFX offers pretty much all the investment and trading tools needed by a nowadays online trader. You have one-click trading, OCO orders, Limit Order, Trailing Stop order, 24h trading and many more. Streaming news feed is supported as well as email and mobile alerts.

 

Trading Platforms

To stay competitive in the online trading world offering just the MT4 platform is not enough. Yes, it’s the most recognized and stable platform all over the world. But it creates some difficulties with its download and installation requirement. The MT5 platform that NordFX also offer is pretty much the same but with some improvement to the visuals and features. It’s still not stable enough, and many prefer the old version because it’s simple and easy to understand despite the horrific design. People who are away from their desktop computers can take advantage of the MT4 mobile platform suitable for both Apple and Android devices. An interesting option for traders who use more than one account is their MT4 MultiTerminal. It has the already familiar interface of the MT4 and offers the opportunity to distribute volume across different accounts and save you a lot of time. It also requires download but is very useful for traders that have multiple accounts.  Their Binary Options platform is the only one that doesn’t require any downloads or installations. It’s very simple and lets you trade with commodities, indices, currencies and stocks.

 

Security and Customer Services

To have an excellent site means to have great customer support and NordFX understand this thoroughly. Their deposit page offers an SSL encryption that protects the user’s data and makes it safe from malicious hacking attempts. The lack of segregated accounts feature is somewhat disturbing. But they are already a proven name in the industry, so you can feel safe that your funds are secure at all times. Customer support is the standard 24/5 which is offered by most of their competitors. Language support is above the industry standard with over ten languages supported. Getting in touch with the company representatives is also easy. You have telephone support from China, India, Russian Federation and Egypt. Additionally, you can send them an email fill out their online contact form. Last but not least, their live chat feature is available and from what we’ve tested their response times are excellent.

 

Deposits and Withdraws

Deposit methods offered by NordFX are plenty, and you’ll have no troubles funding your account. You can use the general credit and debit card options with bank wire also available. Some digital wallets are also available which makes the total banking methods available around 25. The minimum deposit goes from $5 to $50 000 depending on the chosen account type. There are no deposit fees whatsoever. To withdraw money from your account, you can choose the same methods as the deposit. Processing times are very quick. However, some banking methods might require more time. There aren’t any specified processing times on their site, but many reviewers have reported that they happen in the matter of 1-3 business days. Minimum and maximum withdrawal amounts are also not specified and may vary depending on your account type and banking method.

 

Deposit Bonus and Loyalty Programs

In 2013 the platform won The World Best Bonus Program, so you can expect it to offer some great promotions. They don’t have a “welcome” or a “deposit” bonus, but their affiliate program is excellent. They offer a 30% spread for every transaction that your client makes. Depending on what your status is “Basic” and “VIP” percentages can be higher or lower.

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