Noon FX Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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Its seems like another frustrating platform, and I thought it won’t me. Not long before i made a deposit and started to trade stocks, I cannot log into my account anymore. Its website also displays “site under maintenance”, My account manager told me to wait for a while, but how long do i have to wait?
In this comprehensive review of Noon FX, we delve into the broker's offerings, user experiences, and regulatory standing. Overall, the feedback surrounding Noon FX is predominantly negative, with significant concerns about its unregulated status and reports of poor customer service. Key features include a minimum deposit requirement of $100 and maximum leverage of up to 1:500.
Attention: It is crucial to note that the lack of regulation across different jurisdictions is a significant factor affecting the trustworthiness of Noon FX. The broker operates without oversight from reputable regulatory authorities, raising concerns about the safety of client funds and the overall integrity of its operations.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 3 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 4 |
| Trustworthiness | 2 |
| User Experience | 3 |
We rate brokers based on a combination of user feedback, expert analysis, and regulatory compliance.
Noon FX, operating under Noon FX Capital Ltd, has been in business for approximately 2 to 5 years. It claims to be registered in the United Kingdom, yet lacks regulatory oversight from recognized authorities such as the Financial Conduct Authority (FCA). The trading platform offered is MetaTrader 5 (MT5), a popular choice among traders due to its advanced features. However, the available assets for trading are limited, primarily focusing on forex.
Noon FX operates without any regulatory oversight, which is a major red flag for potential traders. According to sources, the broker is not listed on the FCA's official register, raising concerns about its legitimacy. The absence of regulation means that traders have limited recourse in case of disputes or issues with fund withdrawals. This lack of oversight can lead to unethical practices, making it imperative for traders to exercise caution when considering this broker.
The minimum deposit to open an account with Noon FX is set at $100, which is relatively accessible for new traders. However, the broker does not provide clear information regarding withdrawal methods or currencies accepted, which is a significant drawback. Many users have reported delays in withdrawals and difficulties in contacting customer support, further complicating the trading experience.
Noon FX offers several account types, including Basic, VIP, and ECN accounts. The Basic account allows for a maximum leverage of 1:500, appealing to traders looking to amplify their positions. However, the spreads begin at 1.8 pips for this account type, which may not be competitive compared to other brokers. The VIP account offers tighter spreads starting from 1.4 pips, but requires a minimum deposit of $1,000. The ECN account, designed for more experienced traders, demands a hefty minimum deposit of $10,000 and provides spreads from 0.8 pips.
While Noon FX advertises competitive spreads, the exact commission details are not disclosed, making it challenging for traders to assess the true cost of trading. This lack of transparency is concerning, as it can lead to unexpected charges that impact profitability. Moreover, the absence of educational resources or tools further limits the broker's attractiveness to novice traders.
User reviews for Noon FX are largely negative, with many traders expressing frustration over withdrawal issues, account closures without justification, and poor customer support. Reports of suspected fraudulent activities, such as price manipulation and slippage, have also surfaced. Many users feel that their concerns are not adequately addressed, leading to a lack of trust in the broker.
In conclusion, the Noon FX review highlights significant concerns regarding the broker's regulatory status, customer service, and overall trustworthiness. While it offers a range of account types and the popular MT5 trading platform, the lack of regulation and negative user experiences overshadow its potential benefits. Traders are strongly advised to consider these factors and proceed with caution if they choose to engage with Noon FX.
Q: Is Noon FX safe to trade with？
A: No, Noon FX operates without regulation, raising significant concerns about the safety of clients' funds.
Q: What is the minimum deposit required to open an account with Noon FX？
A: The minimum deposit required is $100.
Q: What is the maximum leverage offered by Noon FX？
A: Noon FX offers a maximum leverage of up to 1:500.
Q: What trading platform does Noon FX provide？
A: Noon FX provides the MetaTrader 5 trading platform, known for its advanced charting tools.
Q: Does Noon FX offer a demo account？
A: No specific information is available regarding the availability of a demo account on Noon FX. Traders are advised to contact customer support for more details.
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