NordFX Review 2024

Minimum Deposit: $10
Trading Platforms: MT4, MT5
Instruments: Forex, CFDs, indices, commodities, cryptocurrencies, stocks
Account Currencies: USD
Payment Options: Credit Card, Visa, Mastercard, Wire Transfer, Skrill, Neteller, Perfect Money, Dragonpay, etc.

Recent Awards:

• 2024:
  • Most Reliable Broker – Forexbonusinfo Awards
  • Best ECN/STP Forex Broker – Fxdailyinfo Awards
  • The Most Trusted Broker – World Forex Award
  • The Best IB Program – World Forex Award
  • Industry Elite of the Year – WikiFX
  • Most Reliable Forex Broker LATAM – International Business Magazine Awards
  • Best Crypto Broker South East Asia – Finance Derivative Awards
• 2023:
  • Best Forex Broker Middle East – Forex Awards
  • Best News & Analysis Provider – Forexing Awards
  • Best Crypto Broker – AllForexRating Awards
  • Best Crypto Trading Platform – Fxdailyinfo Awards
  • Most Transparent Forex Brokerage Company UAE – Finance Derivative Awards
  • Best Forex Affiliate Program South East Asia – Finance Derivative Awards
  • Best CFD Broker Asia – International Business Magazine Awards
  • Most Reliable Forex Broker LATAM – International Business Magazine Awards

Pros:

• Extensive Payment Options: Offers over 25 payment methods, including local bank transfers, with zero fees and near-instant processing, facilitating convenient account funding.
• Diverse Account Types: Provides Pro accounts with spread-only pricing and Zero accounts featuring spreads from 0.0 on assets like EUR/USD.
• User-Friendly Copy Trading: Features a straightforward copy trading service suitable for beginners or those looking to improve, with a minimum deposit requirement of $100.

Cons:

• Regulatory Oversight: The lack of regulatory oversight may result in limited client safeguards, such as the absence of negative balance protection or segregated accounts.
• Limited Market Coverage: Offers approximately 100 instruments, which may be considered limited, particularly with around 20 available shares.

Overview of NordFX

Established in 2008, NordFX is a global forex broker serving over 1.7 million clients across 190 countries. The broker provides access to forex pairs, cryptocurrencies, indices, and stocks, along with managed investment services. NordFX operates support centers in regions including Latin America, Europe, Bangladesh, China, Thailand, India, and Sri Lanka.

Trading Platforms

NordFX offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. MT4 is suitable for day traders, providing essential charting tools and order types. MT5 caters to advanced traders, offering additional indicators, timeframes, order types, and a built-in newsfeed. Both platforms support managed funds and automated investments, with a range of data and charts available for analysis.

MetaTrader 4 and MT4 MultiTerminal

NordFX provides access to the MetaTrader 4 (MT4) platform along with the MT4 MultiTerminal, designed for investors managing multiple accounts simultaneously. The MultiTerminal retains the core functionality of the standard MT4, while offering features like manual or automated trade volume distribution for each account individually. Additionally, the platform ensures secure data transfer with advanced encryption measures.

Assets and Markets

NordFX offers a diverse range of financial instruments across various asset classes, including:

• 33 currency pairs
• 11 cryptocurrencies, such as Bitcoin
• Precious metals, including gold and silver
• Energy commodities, such as oil
• CFDs, covering 5 indices and 68 stocks

A standout feature is NordFX managed investment services via the PAMM (Percent Allocation Management Module) account. Under this system, the PAMM manager invests their own capital alongside client funds, fostering additional trust and accountability. It’s worth noting that NordFX does not support binary options trading.

Spreads and Commissions

NordFX offers competitive trading costs, with spreads starting as low as 0.0 pips. By leveraging third-party liquidity providers, the broker can maintain tight spreads and low trading expenses.

• Commissions:
  • Zero accounts incur a commission starting at 0.0035% per trade (for both entry and exit).
  • Crypto trading has a fee of 0.06%.

It’s important to factor in withdrawal fees, which vary depending on the chosen transfer method, including bank transfers, e-wallets, or online payment systems.

Leverage

NordFX stands out by offering leverage of up to 1:1000, a level significantly higher than brokers regulated by authorities like the FCA or ESMA. While experienced traders may appreciate this high leverage for its profit potential, it’s crucial for new investors to exercise caution. High leverage can amplify losses, and overextending positions is a common mistake among beginners.

Mobile Trading

NordFX integrates the MetaTrader platforms, renowned for their versatility and functionality. Both MT4 and MT5 are available as mobile apps, compatible with iOS and Android devices. While the mobile versions offer essential trading tools, some features are limited compared to the desktop platforms.

Additionally, NordFX provides a proprietary mobile APK trading app, available for free download. This app allows users to manage their accounts, execute trades instantly, and access multiple order types. Mobile traders can also perform technical analysis and set price alerts, making it a convenient tool for staying connected to the markets while on the move.

Payment Methods

NordFX supports a wide range of payment options, including bank wire transfers, credit and debit cards, and various online payment systems. Withdrawal options are similar, though the processing time depends on the method selected, typically ranging from 1 to 6 business days.

It’s important to note that due to anti-money laundering regulations, withdrawals generally must be sent back to the original funding source used for deposits.

Demo Account

NordFX provides a free demo account designed to help traders familiarize themselves with the platform and refine their trading skills. Preloaded with $10,000 in virtual funds, the demo account allows users to explore all the features of NordFX without any financial risk. This includes testing trading strategies, understanding market dynamics, and learning how to execute trades efficiently.

The demo account mirrors real market conditions, offering an authentic trading experience that helps both beginners and experienced traders prepare for live trading. Users can practice trading across various asset classes, including forex, cryptocurrencies, commodities, indices, and stocks.

Setting up a demo account is quick and straightforward, requiring less than a minute to get started. Once activated, traders gain access to the MetaTrader platforms (MT4 and MT5), enabling them to utilize advanced tools, perform technical analysis, and explore automated trading features.

The NordFX demo account is an invaluable resource for new investors aiming to gain confidence and seasoned traders who wish to test new strategies before implementing them in a live environment.

Bonuses & Promotions

NordFX provides a range of promotional offers, including:

• Guaranteed stop-losses and limit orders
• Automated trading options

$100,000 Super Lottery

NordFX runs an exclusive lottery with a $100,000 prize pool divided across 200 prizes. Participants can win cash amounts ranging from $250 to $1,250, with two grand prizes of $10,000 each.

To enter:

• Existing users: Deposit funds and continue trading.
• New users: Open a Pro account, deposit at least $200, and trade a minimum of 2 lots.

Virtual lottery tickets are automatically issued upon meeting the volume requirements. Winners are announced in three draws, with the $10,000 grand prizes awarded in the final draw.

Sign up today to take part and secure your chance to win big!

Regulation and Licensing

NordFX is currently not regulated by major financial authorities. However, this does not necessarily imply that the platform is unsafe or unreliable. NordFX ensures secure and fast order execution, with trades typically completed in under half a second.

Additional Features

NordFX provides several tools and resources to enhance the trading experience, including:

• Education Hub: A Learning Centre and Glossary to help investors better understand financial markets and make informed decisions.
• Trading Tools: Features such as an economic calendar, currency converter, profit calculator, and weekly market analyses conducted by an experienced in-house analyst.
• VPS Service: Offered in partnership with Fozzy, this service ensures 24/7 uptime, providing a stable and uninterrupted connection to the platform for optimal performance.

Copy Trading

NordFX supports copy trading, allowing experienced traders to monetize their strategies and share signals with others. Key details include:

• Signal Providers: Experienced investors can sell their signals through the NordFX Pro account, setting their subscription prices without restrictions on trading strategies (e.g., hedging, scalping, or EAs).
• Profit-Based Payments: Subscribers pay a fee based on trade profitability, starting from 10%. If a trade is unsuccessful, no fee is charged.
• Automatic Execution: Signals are executed automatically, even when users are offline, though capital remains at risk while trades are active. Subscribers can stop copying signals anytime.

This feature is ideal for traders who want to save time on market analysis or leverage the expertise of top-performing investors.

Account Types

NordFX offers two primary account types designed to meet different trading preferences:

• Pro Account: Suitable for traders seeking traditional spread-only pricing with no commission or strategy limitations.
• Zero Account: Designed for those prioritizing low spreads (starting at 0.0) and ECN execution, with a forex commission of 0.0035% per trade (per side).

Both accounts offer leverage up to 1:1000 and an annual interest rate of 3,8% on free margin.

Benefits

Since its establishment in 2008, NordFX has earned a reputation for reliability and performance. The platform offers:

• Ease of Use: Intuitive enough for beginners but robust enough for advanced traders.
• Comprehensive Features: Competitive spreads, high leverage, and advanced tools like VPS and managed accounts.
• Copy Trading: A collaborative feature where experts and beginners can mutually benefit through signal sharing.
• MT4 and MT5 Integration: Support for these leading platforms demonstrates NordFX commitment to professional-grade trading tools.

NordFX provides access to a wide range of financial instruments, making it a strong choice for both novice and experienced investors.

Drawbacks

Despite its advantages, NordFX may not appeal to everyone due to:

• Regulation: Some traders prefer brokers regulated by stringent financial authorities that enforce strict leverage limits and provide greater consumer protection.
• High Leverage Risk: The 1:1000 leverage can be too risky for cautious investors.

Trading Hours

NordFX offers 24/7 trading for cryptocurrencies, while other asset classes operate according to their respective markets:

• Tokyo: 7 PM to 4 AM EST
• Sydney: 5 PM to 2 AM EST
• London: 3 AM to 12 PM EST
• New York: 8 AM to 5 PM EST

These time zones cover global forex trading hours, ensuring market availability across major regions.

Customer Support

NordFX provides responsive and knowledgeable customer service, operating through seven regional support centers staffed with a dedicated team to assist users. You can contact them through the following channels:

• Live Chat: Accessible via the webchat icon at the top of their website.
• Email: Reach out to support via support@nordfx.com.
• Phone Support: Country-specific helplines are available.

Customer support is available Monday to Friday, 24 hours a day. Additionally, the website includes a small FAQ section to address common inquiries, such as demo account login issues or terms and conditions queries.

Security

NordFX places a strong emphasis on providing a secure and efficient trading environment for its clients. The platform ensures that trades are executed with lightning-fast speed, typically within half a second, allowing traders to capitalize on market opportunities with minimal delays.

The integration of the robust MetaTrader platforms (MT4 and MT5) enhances security further by providing encrypted connections, ensuring that sensitive user data and transaction details remain protected from unauthorized access. Additionally, these platforms offer seamless compatibility across devices, enabling traders to execute trades securely from desktop, web, or mobile applications without compromising functionality.

NordFX employs a highly reliable server infrastructure designed to support high-frequency and professional trading activities. Its servers maintain a consistent connection, minimizing downtime and ensuring uninterrupted access to the financial markets. This reliability is crucial for traders who depend on precise execution timing, particularly in volatile markets such as forex and cryptocurrencies.

Moreover, NordFX utilizes advanced risk management systems and compliance protocols to ensure the safety of client funds and data. While the broker is not regulated by major authorities, its operational safeguards provide users with a secure environment for both trading and account management.

For added peace of mind, NordFX offers a Virtual Private Server (VPS) service in partnership with Fozzy. This service provides an extra layer of protection by offering a stable, dedicated trading environment with 24/7 uptime, ensuring that trades can be executed securely even in cases of local connectivity issues.

In summary, NordFX combines rapid trade execution, advanced encryption, reliable infrastructure, and additional security measures to create a safe trading environment, catering to the needs of both novice and experienced traders.

NordFX Verdict

NordFX is a reliable choice for investors seeking an online trading platform. With a strong track record since 2008, the broker offers access to a diverse range of assets, a functional demo account, and excellent customer support. Additional features like educational resources and in-depth market analysis add value to the platform. Competitive commission rates and the inclusion of tools like VPS further enhance its appeal.

FAQs

• What is the minimum deposit at NordFX?
  The minimum deposit is $10 for the MT4 Pro account, making it accessible for new traders.
• Is NordFX genuine?
  Yes, NordFX has been operating since 2008 and is considered a legitimate broker.
• What is the highest leverage offered by NordFX?
  The maximum leverage available is 1:1000.
• What instruments can I trade with NordFX?
  NordFX offers 33 forex pairs, 11 cryptocurrencies, 4 commodities, 5 indices, and 68 stocks.
• Is NordFX legit?
  NordFX is a legitimate forex and CFD broker with over 1.7 million accounts opened globally.
• Does NordFX accept US clients?
  No, NordFX does not currently accept clients from the United States.
• Is NordFX legal in India?
  Yes, NordFX provides legal trading services in India.
• How can I withdraw funds from NordFX?
  Log in to your Trader’s Cabinet, select the withdrawal option, choose your preferred payment method, and complete the request.
• Is NordFX a scam?
  No, NordFX is a trusted broker with a long-standing reputation and millions of accounts across 190 countries.
• How can I close my NordFX account?
  Contact customer support via email at support@nordfx.com or through the relevant helpline to request account closure.
• Is NordFX a market maker?
  No, NordFX operates as an online broker rather than a market maker.