Nord FX Forex Broker
This review is a result of months spent with the brokerage firm, NordFX. The review team had performed an exhaustive examination of all the firm’s offers and services so as to render a pointed assessment of NordFX’s overall capabilities. To serve this cause, the review had looked into the following facets of NordFX’s service:
1. The firm’s regulatory status
2. The trading instruments accessible through the firm
3. The trading platforms that the firm offers
4. The trading accounts that the firm provides its clients
About Nord FX
Established back in 2008, Nord FX specializes in Margin Trading and the offering of ECN Accounts. The trading company is owned by NFX Capital Vu Inc. registered and headquartered in Vanuatu.
As of writing, Nord FX functions under the NFX Capital CY Ltd. that operates its trades within Cyprus. This permits company operations within the European regions.
Through Nord FX’s ECN accounts permits the outsourcing of all its clients orders liquidity providers. What this direct connection means is that clients would be able to acquire spreads nearer to the markets.
Being a broker that delves into margin trading, NordFX permits its clients to trade Forex, Equities, Metals, and Cryptocurrencies. The leverage provided for its clients can go up to 1000:1.
To date, Nord FX has over 1.2 million accounts across the globe, with clients from over 200 different countries.
But one limitation that the review team had seen is that the firm is still prevented from serving traders from certain parts of the world, due to some restrictions in the regulatory bodies that sanction its trading activities. One such example is the United States.
NordFX holds two regulatory licenses. One such license is issued by the Vanuatu regulatory authority for the NFX Capital Vu. The other license came from CySEC for NordFX’s operations as NFX Capital CY.
Offers and Services
Accessible Trading Instruments
NordFX allows access to the Oil, Foreign Currency, Metals, Equity indices, and cryptocurrencies Markets. These assets are dependent on the type of account that the trader chooses to open. The same can be said on what platform the client would be provided with.
For Foreign Currency Pairs, a client would be allowed 20-30 different pairs. One can also trade either Gold or Silver from the set of commodities the brokerage offers.
Traders are also given the chance to transact Equity index CFDs through contracts on indices from well-known entities such as Nasdaq and Dow Jones.
For cryptocurrency holders, they are in on 15-17 crypto pairs depending what platform they are using. Among these, Bitcoin, Ripple, ZCash, and Monero are availed to clients just to mention a few.
Available Trading Accounts
Including the Demo Account wherein clients can practice on simulated trades, NordFX offers 4 trading accounts. The other three accounts and the corresponding offering for each are detailed in the table below:
Offered Trading Platforms
NordFX is wise in that it has partnered with MetaQuotes to offer its two flagship trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
MetaTrader 4 (MT4)
Speedy in trading executions, MetaTrader 4 (MT4) is lauded by the online trading community for its efficiency as a trading platform. It is widely used and frequently reviewed; it had received a great deal of positive evaluation, something that the review team agrees with
MT4 offers one-click trading, a myriad of technical indicators, charting tools, and a number of Expert Advisors (EAs) that allow automated algorithmic trading. The more advanced order types are also offered through MT4.
MetaTrader 5 (MT5)
MT5, while not as popular as MT4 offers a great deal of notable features. Among these offerings are a wholly flexible lot sizing, a considerable number of funding and withdrawal options, tight spreads, and market depth just specify some.
In addition, NordFX offers the MetaTrader MultiTerminal for clients who are handling more than just one trading platform. This platform shares the same interface with MT4. When one places an order through it, it will be launched across all the platforms that the trader manages.
Trade with Nord FX Today!
The things discussed within this review paint a positive picture for the firm. The following points have been considered and have found to be affirming of NordFX’s attractive image:
1. The firm’s solid regulatory status
2. The range of trading instruments that clients are given access to
3. The efficiency of the trading accounts that are provided through the firm’s trading accounts
4. The brokerage’s offerings through the trading accounts