NordFX Forex Broker provides real users with 1 positive reviews, * neutral reviews and 1 exposure review!
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I am using this platform since 2010. Never had any issue in profit withdrawal till date. Platform Order Execution is very fast. Support Staff are Co operative with their prompt reply
I lost $30,000 within the two days. I don’t recommend this broker to you guys
NordFX has established itself as a notable player in the online trading space since its inception in 2008. According to various reviews, the broker has garnered a mixed reputation, with many users appreciating its competitive trading conditions, while others express concerns regarding its regulatory status and customer support. Key features highlighted include access to multiple trading platforms (MT4 and MT5), a wide range of tradable assets, and high leverage options. However, the lack of robust regulation and some reports of withdrawal issues have raised red flags for potential traders.
Note: It's important to consider that NordFX operates under different entities in various regions, which may affect the regulatory oversight and protections available to clients. Therefore, conducting thorough research and understanding the specific terms applicable to your region is crucial.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 7.5 |
| Tools and Resources | 6.5 |
| Customer Service and Support | 5.0 |
| Trading Setup (Experience) | 7.0 |
| Trustworthiness | 4.0 |
| User Experience | 6.0 |
| Overall | 6.5 |
We evaluate brokers based on user feedback, expert opinions, and factual data from multiple sources.
Founded in 2008, NordFX is an international forex and CFD broker providing trading services to clients across 190 countries. The broker is headquartered in Vanuatu, with additional offices in regions such as India, Thailand, and Cyprus. NordFX offers access to the widely-used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, allowing traders to engage in various asset classes, including forex, cryptocurrencies, commodities, and indices. However, it operates under the oversight of the Vanuatu Financial Services Commission (VFSC), which raises concerns regarding the level of protection offered to traders.
Regulated Regions:
NordFX is primarily regulated by the VFSC in Vanuatu. While it has a license from the Cyprus Securities and Exchange Commission (CySEC), this is often viewed with skepticism due to the broker's offshore status. Users should be aware that trading with an unregulated broker can pose risks, particularly regarding fund security and withdrawal processes.
Deposit/Withdrawal Currencies/Cryptocurrencies:
NordFX supports deposits in USD, EUR, and cryptocurrencies like Bitcoin and Ethereum. The minimum deposit requirement is notably low, starting at just $10 for the fix account, $250 for the pro account, and $500 for the zero account. Withdrawals can be made through various methods, including bank transfers, credit cards, and e-wallets, although fees may apply depending on the method used.
Bonuses/Promotions:
Currently, NordFX does not offer any sign-up bonuses, which may be a drawback for some traders. However, it does run promotional campaigns, including a lottery for pro account holders, which can provide additional incentives for trading.
Tradable Asset Classes:
The broker offers a diverse range of trading instruments, including 33 forex pairs, 11 cryptocurrencies, various commodities (gold, silver, oil), and CFDs on indices and stocks. However, some reviews criticize the limited selection of individual stock CFDs, which may not appeal to all traders.
Costs (Spreads, Fees, Commissions):
NordFX provides competitive trading costs, with spreads starting from 0.0 pips on the zero account, while the fix account has spreads from 2 pips. While there are no commissions on the fix and pro accounts, the zero account incurs a commission of 0.0035% per trade. Users should also be aware of potential withdrawal fees that may vary based on the chosen method.
Leverage:
NordFX offers high leverage of up to 1:1000, which can be attractive for experienced traders looking to maximize their market exposure. However, this level of leverage also increases risk, making it essential for traders to implement effective risk management strategies.
Allowed Trading Platforms:
The primary trading platforms available are MT4 and MT5, both of which are well-regarded in the trading community for their robust features and user-friendly interfaces. NordFX also provides a multiterminal option for managing multiple accounts, which is beneficial for professional traders.
Restricted Regions:
NordFX does not accept clients from several countries, including the United States, Canada, and the European Union. This limitation may affect potential traders looking to open accounts from these regions.
Available Customer Service Languages:
NordFX offers customer support in multiple languages, including English, Chinese, Spanish, Portuguese, Thai, Arabic, and others. However, the effectiveness of customer support has been questioned, with some users reporting delays in email responses and issues with withdrawal processes.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 7.5 |
| Tools and Resources | 6.5 |
| Customer Service and Support | 5.0 |
| Trading Setup (Experience) | 7.0 |
| Trustworthiness | 4.0 |
| User Experience | 6.0 |
| Overall | 6.5 |
Account Conditions (7.5/10):
NordFX's account offerings are varied, with options for different trading styles. The low minimum deposit is appealing, but the higher requirements for pro and zero accounts may deter beginners.
Tools and Resources (6.5/10):
While NordFX provides basic educational materials and market analysis, the lack of live trading webinars and comprehensive research tools limits its attractiveness for new traders.
Customer Service and Support (5.0/10):
Customer service receives mixed reviews, with some users praising the responsiveness of live chat, while others report slow email support and withdrawal issues.
Trading Setup (7.0/10):
The trading experience is generally positive, with fast execution times and a reliable platform. However, concerns over regulatory status and withdrawal processes remain.
Trustworthiness (4.0/10):
NordFX's regulatory status raises concerns. While it has operated for over a decade, the lack of strong regulatory oversight can be a significant risk factor for traders.
User Experience (6.0/10):
Overall user feedback is mixed, with many satisfied with the trading environment but expressing concerns about withdrawal challenges and customer support.
In conclusion, NordFX presents a viable option for traders seeking competitive trading conditions and a variety of assets. However, potential clients should carefully consider the risks associated with trading through an unregulated broker and weigh their options against more established firms.
