Noor Al Mal 2025 Review: Everything You Need to Know
Noor Al Mal, a forex broker established in 2009 and operated by NCM Investment, has garnered attention in the trading community for its range of offerings and trading conditions. The broker provides access to the popular MetaTrader 5 platform, allowing traders to engage in forex, commodities, and indices trading. However, the lack of robust regulatory oversight raises concerns among potential users. This review aims to present a balanced view of Noor Al Mal, highlighting both its strengths and weaknesses based on various sources.
Note: It is essential to consider that Noor Al Mal operates across different jurisdictions, with various regulatory bodies overseeing its operations. This complexity could impact user experiences and perceptions of trustworthiness.
Ratings Overview
How We Rate Brokers: Our ratings are based on a comprehensive analysis of user experiences, expert opinions, and factual data regarding the broker's offerings.
Broker Overview
Founded in 2009, Noor Al Mal is a forex broker based in Jordan, with its headquarters located at Vista Swa Fieh, Amman. The broker offers trading services through the MetaTrader 5 platform, which is accessible on desktop, web, and mobile devices. Noor Al Mal provides a range of trading instruments, including over 15 forex currency pairs, commodities like gold and silver, and indices. The broker is regulated by the Jordan Securities Commission and other regional authorities, although it is considered less regulated compared to many established firms in the industry.
Detailed Section
Regulatory Regions: Noor Al Mal operates under the regulatory frameworks of various jurisdictions, including Jordan, Kuwait, and Turkey. While it holds licenses from the Jordan Securities Commission and the Capital Markets Authority in Kuwait, it is essential to note that it is often viewed as an offshore broker, which may raise concerns regarding the safety of client funds.
Deposit/Withdrawal Options: Noor Al Mal supports several deposit and withdrawal methods, including credit cards like Visa and MasterCard. However, the minimum deposit requirement is somewhat high, starting at $150, which may deter new traders looking for lower entry barriers.
Bonuses/Promotions: Noor Al Mal has been known to offer promotional bonuses, including a no-deposit bonus of $50 for new traders, which allows them to trade without an initial investment. However, specific terms and conditions apply, and potential clients should read these carefully.
Trading Asset Categories: The broker provides access to various trading instruments, including forex, CFDs, commodities, and indices. However, it lacks a robust offering of cryptocurrencies, which may limit options for traders interested in that market.
Costs (Spreads, Fees, Commissions): Noor Al Mal's trading costs are competitive, with typical spreads starting at 0.6 pips for the EUR/USD pair. However, some user reviews suggest that spreads can be higher during volatile market conditions. Importantly, there are no commissions for trading, which can be an advantage for active traders.
Leverage: The broker offers a maximum leverage of 1:100, which is lower than some competitors that provide leverage up to 1:400. This could be a limiting factor for traders seeking higher risk/reward scenarios.
Allowed Trading Platforms: Noor Al Mal primarily utilizes the MetaTrader 5 platform, which is widely regarded for its user-friendly interface and advanced trading tools. However, some reviews mention that it also provides access to MetaTrader 4, though MT5 is the primary focus.
Restricted Regions: While there is no specific list of prohibited countries mentioned, potential users should confirm their eligibility based on their jurisdiction, especially given the broker's offshore status.
Available Customer Service Languages: Noor Al Mal offers customer support in English, with contact options including email, phone, and live chat. However, some users have reported less than satisfactory experiences with the responsiveness of customer service.
Ratings Revisited
Detailed Breakdown
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Account Conditions (6/10): Noor Al Mal offers a minimum deposit of $150, which is moderate but may be high for some new traders. The account types available are not extensively detailed, leading to some uncertainty regarding the variety of options.
Tools and Resources (7/10): The MetaTrader 5 platform is a significant advantage, providing a robust suite of tools for traders. However, the educational resources appear limited compared to other brokers.
Customer Service and Support (5/10): While Noor Al Mal provides multiple contact methods, user feedback indicates that response times can be slow, which is a critical area for improvement.
Trading Setup (6/10): The trading experience on the MetaTrader 5 platform is generally positive, but the lack of higher leverage options may deter more aggressive traders.
Trustworthiness (4/10): As an offshore broker with limited regulation, Noor Al Mal may not inspire confidence among potential clients. Users are advised to exercise caution and conduct thorough research before engaging.
User Experience (5/10): Overall user experiences are mixed, with some praising the platform's functionality while others express concerns about customer service and trust issues.
In conclusion, the Noor Al Mal review indicates a broker with potential but significant areas requiring attention, particularly in trustworthiness and customer support. Traders considering this broker should weigh the pros and cons carefully, especially regarding the regulatory environment and service quality.
