NPBFX Forex Broker
Basic Information
Comoros
5-10 years Regulated in Comoros Retail Forex License MT4 Full License Self-developed Global Business High potential risk Offshore RegulatedCompany profile
Rating Index
Pros
Low minimum deposit requirement of $10, making it accessible for beginner traders.
Competitive spreads starting from 0.4 pips and high leverage options up to 1:1000.
Access to social trading through the ZuluTrade platform, allowing users to copy trades from experienced traders.
Cons
Lack of regulation from major financial authorities, which raises concerns about safety and security.
Only offers the MetaTrader 4 platform, missing out on the features and advantages of MetaTrader 5.
Withdrawal processes can be slow, with reports of delayed responses from customer support regarding withdrawal requests.
NPBFX Forex Broker - Complete Information Guide
1. Broker Overview
NPBFX, formally known as National Petroleum Bank Forex, is a well-established brokerage firm that has been operating since 1996. The company was initially registered under Nefteprombank, a Russian financial institution, and later rebranded to NPBFX in 2016. The broker is headquartered in Saint Vincent and the Grenadines, with additional offices in various regions, including the United Kingdom and Russia. NPBFX operates as a private company, catering primarily to retail clients while also providing services to institutional clients.
Over the years, NPBFX has built a solid reputation in the financial markets, marked by its commitment to providing comprehensive trading services. The company has achieved several milestones, including becoming a member of the Financial Commission, which offers certain protections for traders. NPBFX employs a straight-through processing (STP) model, ensuring that client orders are executed directly in the interbank market, thus minimizing conflicts of interest.
The primary markets served by NPBFX include forex, commodities, and indices, attracting a diverse clientele ranging from novice traders to experienced professionals. With its long-standing history and commitment to transparency, NPBFX has positioned itself as a reliable partner for traders seeking to access the forex market.
2. Regulation and Compliance Information
NPBFX is regulated by the International Financial Services Commission (IFSC) of Belize, holding license number IFSC/60/342/TS/15. Additionally, NPBFX is a member of the Financial Commission, which provides a compensation fund for traders, ensuring coverage of up to €20,000 per trader in case of disputes that are not resolved in their favor.
The broker adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) measures, ensuring that client identities are verified and that transactions are monitored to prevent fraudulent activity. Client funds are kept in segregated accounts, meaning that they are maintained separately from the company's operational funds, providing an additional layer of security for traders.
Despite its membership in the Financial Commission, NPBFX does not hold licenses from major regulatory authorities, which may raise concerns for some traders regarding the overall safety of their investments. However, the financial commission provides some level of oversight and dispute resolution.
3. Trading Products and Services
NPBFX offers a diverse range of trading products, primarily focusing on forex trading. The broker provides access to over 38 currency pairs, including major pairs such as EUR/USD and GBP/USD. In addition to forex, NPBFX offers trading in commodities, including gold, silver, and oil, as well as indices and cryptocurrencies.
The trading environment at NPBFX is designed to cater to various trading strategies, including scalping, hedging, and algorithmic trading. The broker continuously updates its product offerings, ensuring that traders have access to the latest market instruments. NPBFX also provides social trading options through the ZuluTrade platform, allowing traders to follow and copy the strategies of successful traders.
For institutional clients, NPBFX offers tailored solutions, including liquidity provision and access to advanced trading technologies, further enhancing its service portfolio.
4. Trading Platform and Technology
NPBFX exclusively utilizes the MetaTrader 4 (MT4) trading platform, renowned for its user-friendly interface and comprehensive features. MT4 supports various trading tools, including advanced charting capabilities, technical indicators, and automated trading through Expert Advisors (EAs).
The broker does not currently offer the MetaTrader 5 (MT5) platform, which may limit advanced traders seeking more sophisticated trading tools. The trading execution model employed by NPBFX is STP, ensuring that orders are executed at the best available market prices without any re-quotes.
NPBFX provides a web-based trading platform, allowing traders to access their accounts from any internet-enabled device. Additionally, mobile trading applications are available for both iOS and Android devices, enabling traders to manage their accounts on the go.
The broker's servers are strategically located to ensure low latency and high-speed order execution, enhancing the overall trading experience for clients.
5. Account Types and Trading Conditions
NPBFX offers three main account types to cater to different trading preferences and experience levels:
Master Account: Designed for beginners, this account requires a minimum deposit of $10. The spread starts from 0.8 pips, and there are no commissions charged on trades.
Expert Account: This account is suitable for more experienced traders, requiring a minimum deposit of $5,000. The spread starts from 0.6 pips, and it allows for higher leverage up to 1:200.
VIP Account: Tailored for high-net-worth individuals and professional traders, the VIP account requires a minimum deposit of $50,000. The spread starts from 0.4 pips, and it also allows for leverage up to 1:200.
All account types support various trading strategies, including scalping and hedging. NPBFX does not charge inactivity fees, providing additional flexibility for traders.
6. Fund Management
NPBFX supports a variety of deposit methods, including bank transfers, credit/debit cards, and e-wallets such as Skrill and Neteller. The minimum deposit requirement varies by account type, with the Master Account requiring just $10.
Deposits are typically processed instantly, allowing traders to start trading without delay. NPBFX does not charge deposit fees, making it cost-effective for traders to fund their accounts.
Withdrawals can be made using the same methods as deposits, and NPBFX does not charge withdrawal fees for the first transaction. However, subsequent withdrawals may incur fees depending on the payment method used. The withdrawal process generally takes 1-3 business days to complete.
7. Customer Support and Educational Resources
NPBFX offers multiple customer support channels, including email, live chat, and telephone support. The support team is available 24/5, providing assistance in various languages, including English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic.
The broker provides educational resources to help traders improve their skills. These include webinars, tutorials, and daily market analysis reports. Additionally, NPBFX offers trading tools such as calculators and economic calendars to assist traders in their decision-making processes.
8. Regional Coverage and Restrictions
NPBFX serves a global client base, with a significant presence in regions such as Kazakhstan, Russia, and Ukraine. However, the broker does not accept clients from certain countries, including the United States, Canada, and Japan, due to regulatory restrictions.
The broker's services are designed to comply with local regulations in the regions it operates, ensuring that clients have access to a secure trading environment. NPBFX continues to expand its reach, adapting to the needs of traders in various markets.
In summary, NPBFX is a well-established broker offering a range of trading products and services. While it has certain advantages, such as competitive spreads and a user-friendly trading platform, potential clients should be aware of its regulatory status and consider the associated risks before engaging in trading activities.
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Latest Reviews
FX1536716328
Vietnam
After more than 6 months of investing with NPBFX, I rate the platform as decent in quality, with enthusiastic support staff and fast deposit/withdrawal processes. Satisfied, I trust it for long-term investment.
Positive
10-01
FX3828242007
Vietnam
The software runs smoothly, no lag or freeze like some others, stable spreads at the beginning of the week session, no gap right at the start of Monday session.
Positive
09-15
TungDofx
Vietnam
The platform provides excellent consulting services for everything. I've been using this platform for a whole year now, and occasionally they offer deposit promotions as well as investment consulting to optimize bot trading. Through my experience with various bots, I've learned that if you buy bots and trade on your own, losing is inevitable. To actually profit from... Using bots effectively requires daily monitoring of signals from the exchange's group. Besides, those with small capital who randomly buy bots without understanding won't see results—so why come here to complain? Just follow the advice from their consultants, and you're guaranteed at least modest profits like me. Averaging $200/day is normal. Don't get too greedy. Any platform that claims profits over $500/day is just scamming people—don't believe it. It's better to play it safe and steady, guys.
Positive
10-02